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08/11/22 10:56 AM

#330 RE: Middleborder #328

Hey MB... Those are solid numbers... a little higher on the Capex than I expected but they are not done costing everything out. They expect to complete the F.S. in 2023 I would guess 2026 for production.
They need
a) Enviromental work completed & approval
b) Major Permits
c) Complete NOW ongoing DEMO-Plant to prove out final separation to scale (should be getting news here by years end.)

We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.

d) F.S. after Demo plant runs. (They will need a partner. USARE & the Canadian govt. are already playing major roles here? T.B.D.)
e) Finance (Like Niocorp my DD... suggests the Canadian govt. will offer a loan guarantee for debt. USARE may is already a partner... should be interesting moving forward.

Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service (“AGS”) initiative, which supports high growth companies. AGS, as a ‘one-stop shop’ model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.

f) This is only PART OF A LARGE REE DISTRICT & Generational mine project!

Led by a proven management team and board of directors, 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 southeast 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 preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX

Form your own opinions & conclusions:
Imho: One of the most advanced pure Canadian REE projects. MB feel free to add to the SEARCH MINERALS to do list! lol