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Re: Middleborder post# 307

Wednesday, 06/01/2022 11:10:49 AM

Wednesday, June 01, 2022 11:10:49 AM

Post# of 391
Thanks MB! PEA around June 07, 2022. As previously outlined, the key variables addressed in this PEA include:

Increase production rate from both Deep Fox and Foxtrot
Higher grades of our key permanent magnet elements (Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy)) in Deep Fox deposit
Primary Processing using grinding and magnetic separation to produce rare earth concentrate for our proprietary Direct Extraction Process (“DX”)
Increased recoveries from our DX processing applied to Foxtrot mineralization
Significant increase in REE prices.

MB - (I really like Search's proprietary method for their ore! The Ore goes through Magnetic Separation to concentrate the minerals then through their proprietary Direct Extraction (DX) & then onto SX for the individual oxides. SEARCH HAS THE POTENTIAL FOR @ 1,500 TONS of RARE EARTH OXIDES PRODUCTION/YEAR! Niocorp (U.S.) & Search (Canadian) are my top REE picks. I'm excited & holding long term here. Both have Experienced TEAMS & that means alot!)

Phase 1 - 70t of bulk sample using grinding/magnetic separation.

We are nearing completion of the testing of our 70t bulk sample from Deep Fox and Foxtrot at SGS Canada, through our new grinding and magnetic flowsheet (see February 16, 2022 - Search Minerals magnetic separation of bulk samples commences at SGS Canada). Phase 2 will process approximately 20t of the prepared concentrate through the proprietary direct extraction flowsheet. The Company will be submitting a Letter of Intent as outlined in a Call for Proposal from the Federal Government for demonstration plants from advanced critical minerals projects in Canada.

Search is working hand in hand with the Canadian govt. & USA Rare Earths is privy to info & has a stake already! Both Search & Niocorp will produce RARE EARTH OXIDES ~ NOT Basket products!!!!~

I can't wait to see the PEA numbers & CAPEX.... I'm not expecting much over $150 Million needed for he "Open Pit resources". A bit more when they go underground yes!, but they can start easily enough IMHO. I also like the fact they have the community support & are pursuing environmental avenues now.