https://www.baystreet.ca/articles/stockstowatch/80965/Search-Minerals-Sprint-to-Production-to-Capture-Critical-Rare-Earth-Elements-Market-in-North-America
"Equity Research firm, eResearch Corp., recently published a 72-page Initiation Report on Search Minerals Inc. (TSXV:SMY | OTC:SHCMF) that is available to download for free at www.eresearch.com.
Search Minerals is exploring and developing a Rare Earth Elements (REE) project in southeast Labrador and a REE Processing Plant in Newfoundland, Canada. The company control two advanced REE resources, Deep Fox and Foxtrot, along with regional prospects, including Fox Meadow, Silver Fox, and the Red Wine District.
As it “Sprints to Production”, Search Minerals released an updated Preliminary Economic Assessment (PEA) report for the Deep Fox/Foxtrot project this summer and is now working towards the start of a Feasibility Study, additional project exploration and drilling, with mining production targeted for 2025.
Greg Andrews, President and CEO, recently commented, “We continue to work toward a feasibility study for the end of 2023, and the Deep Fox drill program should provide a measured resource category as well as expanded indicated and inferred resource for an updated mineral resource calculation expected in 2023.”
Search Minerals’ business plan is to supply a rare earth oxide (REO) mixed rare earth carbonate concentrate and/or a pure mixed REO concentrate to third-party REE separation facilities and refiners in North America to meet the increasing demand.
The company was valued by eResearch using an equal weighting of a Relative Valuation based on peers and Discounted Cash Flow (DCF) built on the project’s economics from data in the company’s recent PEA. Search Minerals currently trades at a discount to its peers, including Ionic Rare Earths (ASX:IXR), Rainbow Rare Earths (LSE:RBW), and Texas Mineral Resources (OTC:TMRC). A detailed company valuation can be viewed in eResearch’s Initiation Report.
In eResearch’s report, there is a 15-page section that provides a solid overview of REEs and other companies in the sector. REEs are part of what governments, industry, and media are calling critical or technology metals. Critical metals are aptly named because they are irreplaceable in technology applications owing to their unique properties and cannot be substituted with any other element to obtain the required properties."
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"Chris Thompson, Director of Equity Research of eResearch wrote, “With investor and government support, Search Minerals has the potential for becoming a leading producer in the North American REE industry for Electric Vehicles and other high-tech industries.”
Search Minerals is currently trading around C$0.10 with a market cap of less than C$42 million, but due its recent PEA, near-term production focus, and the resource growth opportunities from its regional land package, the company has the potential for value creation."
