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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 Wizzardon Jun 11, 2022 8:38am
490 Views
Post# 34749073

Shares outstanding

Shares outstanding As I said previously, to many shares outstanding, as it stands this is a liquidity trap, yes I like the company and it’s strategic focus, but I been back country Labrador a 1000 times and nothing is easy in Labrador, 8 months of winter, rough terrain, limited transport and infrastructure, everything is extremely tough and EXPENSIVE, to finance won’t be cheap and at 15 cents a share the float is diluted like crazy—Apple split 20/1 and Tesla splitting again in the interest of share appreciation, so why not reverse split SMY to a reasonable level and then finance the project, it gives the metrics more credibility and as an investor I would be more interested in taking a position, but at 7 or 8 hundred million shares outstanding, I’ll pass on the stock as the float is massive and Labrador is such an environmental challenge and cost prohibitive place to do business, The reverse split in no way affected your investment unless you are afraid it falls further- which is ultimately a reflection of its true value,
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