stock research company, eResearch Corp. published. A recent 72-page report on Search Minerals Inc. (TSXV: SMY | OTC: SHCMF) and is available for free download at www.eresearch.com.
Search Minerals is exploring and developing a rare earth element (REE) project in southeast Labrador and a rare earth element processing plant in Newfoundland, Canada. The company controls two advanced renewable energy resources, Deep Fox and Foxtrot, along with regional prospects, including Fox Meadow, Silver Fox and Red Wine District.
Being a “sprint to production,” Search Minerals released an updated Initial Economic Assessment (PEA) report for the Deep Fox/Foxtrot project this summer, and is now working to begin a feasibility study, additional project exploration and drilling, with mining production. Target for 2025.
Greg Andrews, President and CEO, recently commented, “We continue to work toward a feasibility study for the end of 2023, and Deep Fox’s drilling program should provide a measured resource category as well as an extended resource referenced and inferred for an updated mineral resource projected in 2023.”
Search Minerals’ business plan is to supply rare earth mixed carbonate concentrate (REO) and/or pure mixed earth concentrate to third-party rare earth element separation facilities and refineries in North America to meet growing demand.
The company has been evaluated by eResearch using equal weighting relative valuation based on peers and discounted cash flow (DCF) based on project economics from data in the company’s recent PEA. Search Minerals is currently trading 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 assessment of the company can be found in the Electronic Search Start Report.
in eResearch Report, there is a 15-page section that provides a solid overview of other economic entities and other companies in the sector. Rare earth elements are part of what governments, industry, and the media call critical or technological minerals. Critical minerals are aptly named because they are irreplaceable in technology applications due to their unique properties and cannot be replaced by any other element to obtain the desired properties.
Rare earth elements are used to make many things we use every day, including cell phones, defense systems, electronics, electric vehicles, medical devices, telecommunications equipment, and wind turbines. Neodymium REE is the strongest magnetic material known and is used in applications that require strong, compact magnets, such as cell phones and electric motors.
Search Minerals controls a region-wide project with exploration potential in an emerging REE region in Canada. The project includes two NI 43-101 resource projects (Foxtrot and Deep Fox), two off-the-shelf prospects (Fox Meadow and Silver Fox), and several other REE opportunities, including Fox Valley, Foxy Lady and Awesome Fox, along a belt-length 64 km constitutes the REE region of Labrador.
The company is backed by an experienced management team with diverse commercial, market and technical expertise, and the management has extensive experience and knowledge of Labrador geology, so it is well positioned to take advantage of regional exploration opportunities.
Dr. Randy Miller, Vice President – Exploration, has also worked as a rare earth mineral expert for 12 years with the Newfoundland and Labrador Geological Survey and Dr. David Dreisinger, Vice President – Metallurgy, has extensive experience working as an operations consultant for minerals playing a key role in the development of the extraction process Direct Minerals Search. The recent appointment of Todd Burlingame as Chief Operating Officer demonstrates the company’s commitment to bringing the Deep Fox and Foxtrot projects into production.
Chris Thompson, Director of Equity Research at eThe research wrote, “With investor and government support, Search Minerals has the potential to become a leading North American renewable energy producer for electric vehicles and other high-tech industries.”
Search Minerals is currently trading in the C$0.10 range with a market capitalization of C$42 million, but due to its recent focus on near-term production, near-term production focus, and resource growth opportunities from the regional land package, the company has the potential to create the value .
For more information about e72-page research start report on research minerals, please visit eSearch website (www.eresearch.com).
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