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Search Minerals Inc V.SMY

Alternate Symbol(s):  SHCMF

Search Minerals Inc. is an integrated mineral exploration and development company, which is focused on the acquisition, exploration, and development of rare earths elements (REE) mineral properties in Labrador. It focuses on developing critical rare earths elements (CREE), Zirconium and Hafnium resources within the Port Hope Simpson-St. Lewis CREE District of South East Labrador. It controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and other REE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 km long belt forming a REE District in Labrador. It also controls additional CREE assets in the Red Wine District of central Labrador. These include the drill ready Two Tom Lake CREE-Be-Nb deposit, the Mann #1 CREE-Nb-Be prospect and Merlot CREE Prospect. The Two Tom Property includes mineral licenses 027358M and 016522M in Labrador, Canada. The Red Wine property is located 80 km north-east of Churchill Falls, Labrador.


TSXV:SMY - Post by User

Post by Dariuszon Feb 16, 2022 5:03pm
174 Views
Post# 34435492

After the Webinar today;

After the Webinar today;Very encouraging to see Greg being active with news. The webinar was great and reinforced that the company is pursuing goals that they outlined. It is great to see Greg active with messaging the market. Greg said that the PEA is now expected by the end of March or maybe early April. The Pilot Plant is now started with Phase 1 now ongoing. Total cost for all 4 phases will be around $10M and they are expecting 60 to 70% of that to be contributed by he provincial and federal government. I was hoping that an updated 43-101 resource estimate for Deep Fox will come out as sperate news before the PEA but Greg indicated that it will be released in conjunction with the PEA. Greg also spoke about their refining technology and how the initial phase via wet and dry magnetic separation will  save the a lot of costs and dramatically improve financials. That phase was added to their technology recently. He also indicated that the Saskatchewan Research Council SRC will be involved in later phases of the Pilot Plant. He spoke about the rising REEs prices and underlined that their project is now without a doubt economic/profitable and that the PEA will clearly show that.
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