Search Minerals Inc. (SHCMF)

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Chico; Thanks! That Yahoo news release is not yet on The Search Minerals Site!

Here is a relevant November 2020 news release from Search Minerals:


Search Minerals And USA Rare Earth Enter Into Technical Collaboration Framework Agreement

Vancouver, B.C. November 10, 2020, Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) and USA Rare Earth, LLC (“USA Rare Earth”) are pleased to announce that they have entered into a Technical Collaboration Framework Agreement (“Collaboration Agreement”) to govern initial cooperation between USA Rare Earth and Search in a number of important areas of mutual interest.

Search holds patented Direct Extraction Process technology and owns 100% of a Critical Rare Earth Element District in SE Labrador, Canada.USA Rare Earth is establishing an integrated mine-to-magnet strategy independent of China, including funding and developing the Round Top Heavy Rare Earth and Critical Minerals Project in West Texas,.

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USA Rare Earth is the development and funding partner of the Round Top Mountain critical minerals and heavy rare earth project in Hudspeth County, West Texas.It also owns sintered rare earth magnet manufacturing equipment previously owned and operated by Hitachi Metals in North Carolina, and earlier this year opened a rare earth and critical minerals facility in Wheat Ridge to commission a pilot plant using Continuous Ion Exchange (CIX) extraction, separation and recovery methods using feedstock from Round Top and other non-Chinese sources.

AND Quote from USA Rare Earth CEO Pini Althaus taken from the Forbes article you posted to another other board:


US Needs 10X More Rare Earth Metals To Hit Biden’s Electric Vehicle Goals

Theoretically, Round Top will produce no less than 15 of the 17 different rare earth elements.

But even if the Texas mine exceeds all predictions, it won’t be enough.

“If you look at the materials that we have for permanent magnets or for lithium, it still accounts for sort of a percentage of the overall supply chain requirements in the United States,” Althaus says. “We would need another four or five Round Tops to go up to start looking at having sort of what we would call independence or a lack of complete reliance on China.”

At the moment, no rare earths for magnets are being produced and processed in the United States.

USA Rare Earths entered into a technical agreement with, funded, and holds a shareholder stake in Search Minerals

Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) and USA Rare Earth, LLC (“USA Rare Earth”) are pleased to announce that USA Rare Earth, LLC purchased 9,000,000 units at $0.07 per unit for proceeds of $630,000 CDN in the Company’s most recent financing that closed on March 11, 2021.

On November 10, 2020 Search and USA Rare Earth jointly announced a Technical Collaboration Framework Agreement whereby the two companies would work on several initiatives. USA Rare Earth is the funding and development partner of the Round Top Heavy Rare Earth, Lithium and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp. (OTCQB: TMRC) As part of Search’s and USA Rare Earth’s development plans, the companies intend to expand the collaboration to include discussions regarding separation, marketing and off-take of Search’s future production. These discussions are in line with Search’s ambition to be an important contributor to the development of a North American Critical Material supply chain and USA Rare Earth’s strategy of Mine-to-Magnet processing.

Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a 43-101 Preliminary Economic Assessment report for FOXTROT, and a 43-101 resource estimate for DEEP FOX. Search is also working on three significant exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX.

USA Rare Earth is building an integrated Mine-to-Magnet supply chain as the development and funding partner of the Round Top Mountain critical minerals and heavy rare earth project in Hudspeth County, West Texas, the owner of sintered rare earth magnet manufacturing equipment previously owned and operated by Hitachi Metals in North Carolina, and the operator of a a rare earth and critical minerals facility in Wheat Ridge, Colorado, which is commissioning a pilot plant using Continuous Ion Exchange (CIX) extraction, separation and recovery methods using feedstock from Round Top and other non-Chinese sources.

USA Rare Earth is an LLC which owns a REE Magnet Plant in North Carolina. It has a Major stake in the Round Top Mine in West Texas, but has a Shareholder stake in Search Minerals. Both mines will be surface mines, both mines are located near population areas, utilities, and transportation. Search is looking for an investment partner. USA Rare Earths may be that partner.

Search recently completed a drill program whose analysis and results are pending release. Based on that analysis they have commissioned a PEA that includes an expanded mining plan that includes those results.

Everyone should do their own Due Diligence in considering an investment.

http://searchminerals.ca/news/report-library/financial-reports