EDITOR: | September 13th, 2016 | 2 Comments

Search Minerals: making ‘huge’ rare earth strides in 2016

| September 13, 2016 | 2 Comments
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Search Minerals Inc. (TSXV: SMY), and its wholly-owned subsidiary, Alterra Resources Inc. (“Alterra“) are on track to advance developments at their Foxtrot project which includes commissioning a pilot plant and sourcing strategic and offtake partners.

To this end the company has made huge strides in 2016 that includes:

  1. Commissioning SGS Minerals to build and operate a pilot plant, funded by the Atlantic Canada Opportunity Agency.
  2. Updating and publishing the preliminary economic assessment to reflect the updated capital costs required for the construction and operation of a rare earth mineralisation treatment facility at Labrador.
  3. Received the desktop study with recommendations for the environmental assessment application
  4. Completed the 2016 Field Exploration Programme which was necessary to maintain key licenses and advance the Fox Meadow prospect.
  5. Continued to build positive relationships with the local community council.

With respect to the prospects for the Foxtrot REE Project, there are some positive attributes that the project offers. As the project is small, the company only plans to produce around 1,000 tonnes of ore per day and therefore the geology and technical consideration are manageable. Moreover, some of the mining will be done as an open pit, which delays the need to spend large capital.

Labrador is a mining friendly jurisdiction and the region is supportive of junior miners. Furthermore, to this end, Search Minerals has made positive progress with respect to developing relations with the NunatuKavut Community.

In addition there appears to be some optionality as the Fox Harbour Volcanic Belt, to which the Company has twenty licenses and 732 claims, could potentially host other similar deposits.

And finally, the projects management team has ownership and therefore their incentives are aligned with that of investors. In total, management has 22.7% equity ownership and 25.9% of the warrants, giving a total ownership of 26.5%.


Lara Smith

Editor:

The Founder and Managing Director of Core Consultants in June 2009, Lara and her team are committed to supplying high quality commodity market research, analysis ... <Read more about Lara Smith>


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Comments

  • The Search for North American Rare Earths

    […] the last update we provided on Search Minerals Inc. (TSXV: SMY) (“Search Minerals” or “Search”), big steps […]

    February 10, 2017 - 12:24 PM

  • Randall Walford

    As a shareholder since 2010 who has ridden the ups and downs of the rare earth market and SMY’s challenges within that weird and unpredictable world, all I can say is ‘kudos’ to the Board and officers who have worked diligently for the past several years to quietly and diligently cover all the bases to position SMY as the most viable rare earths supplier to North America and Europe. With a Republican hawkish White House, likely trade sanctions against Chinese exports, and a strong desire for the free world to not be dependent upon an unpredictable and often hostile China for its supply of critical metals for defense and technology industries, it is likely a most opportune time for SMY to monetize the value of its unbeatable geological and metallurgical expertise, credible managment, rich deposits, vast reserves, proprietary low-cost processing technology, mining-friendly, politically safe jurisdiction, and existing year-round deep water port & highway infrastructure. Gentlemen, thank you for a job well done. We shareholders have never had as much to look forward to.

    February 17, 2017 - 10:50 AM

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