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Search Minerals Inc. (SMY.V)

TSXV - TSXV Real Time Price. Currency in CAD
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Neutralpattern detected
Previous Close0.0650
Open0.0650
Bid0.0650 x 0
Ask0.0700 x 0
Day's Range0.0650 - 0.0650
52 Week Range0.0250 - 0.0800
Volume241,678
Avg. Volume104,996
Market Cap17.864M
Beta (5Y Monthly)0.16
PE Ratio (TTM)N/A
EPS (TTM)-0.0040
Earnings DateApr 03, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Search Minerals Completes Zirconium Recovery Testing at SGS Canada Inc.
    GlobeNewswire

    Search Minerals Completes Zirconium Recovery Testing at SGS Canada Inc.

    VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to report that SGS Canada Inc. (“SGS”) has reported on preliminary metallurgical testing on a channel sample from SILVER FOX for recovery of a zirconium mineral concentrate. SILVER FOX is the fourth major mineralized zone in the Port Hope Simpson – St. Lewis Critical Rare Earth Element (“CREE”) District and is enriched in zirconium content in comparison to FOXTROT and DEEP FOX Resources (see Search Minerals new release October 22, 2020). HIGHLIGHTS – ZIRCONIUM RECOVERY TESTING * A SILVER FOX sample weighing approximately 17 kilograms was delivered to SGS from the channel sample program; * SGS completed chemical and mineralogical analysis of the sample. ○ The sample analyzed 4.26% ZrO2 and 0.08% HfO2 and 1.02% TREO ○ ○ The zirconium mineral identified was Zircon (ZrSiO4) at a grade of ~6.5% and a mineral particle size of 19 um (P50) ○ Zircon was analyzed by Electron Probe Micro Analysis (EPMA) and showed the zircon was very clean of impurities with an average ZrO2 content of 66.1% * Mineral processing studies indicated; ○ The sample was ground to 100% passing 53 um to ensure zircon liberation ○ Iron oxides in the sample were predominantly magnetite. Davis Tube and Low Intensity Magnetic Separation (LIMS) removed iron as a high grade iron oxide concentrate ○ Wet High Intensity Magnetic Separation (WHIMS) at a magnetic intensity of 15,000 Gauss successfully recovered 70-85% of the light and heavy REEs into the magnetic concentrate in ~10% of the feed mass with only 11% zircon loss. ○ The WHIMS tails were floated under different conditions in a series of 5 tests. A fatty-acid collector was effective at zircon concentration while addition of a benzohydroxamic acid collector improved rejection of silica * The combination of LIMS, WHIMS and Flotation yielded the following results including float test 5. Float test 5 included 4 stages of open circuit cleaning. ProductMass, %Analysis, %Distribution, %   ZrO2SiO2Fe2O3ZrO2SiO2Fe2O3 LIMS Mag Conc.8.71.0910.987.42.21.373.7 WHIMS Mag Conc.8.34.8242.422.09.44.717.8 Float Rougher Conc.14.422.262.12.2674.612.13.2 Float 4th Clean Conc.3.143.036.41.1431.31.50.3 Head (direct) 4.2673.09.80    * These results showed that (1) iron could be rejected by LIMS, (2) the REE’s could be concentrated by WHMIS and (3) the zircon could be floated to produce a 43% ZrO2 concentrate. This is equivalent to a 64% Zircon concentrate (ZrSiO4) * SGS commented in their report, “Overall, the results obtained in this test work program were quite promising and further test work is recommended to optimize the flowsheet developed to produce zircon, REE, and magnetite concentrates. Given that only five flotation tests were carried out in this program, there remains significant potential to improve flotation performance to reduce zircon losses to the cleaner tailings and further increase concentrate zircon grade by evaluating options to address the calcite and fluorite that appear to report to this product.” Greg Andrews, President/CEO states, “This test work demonstrates the potential to produce a zirconium/hafnium concentrate from the Silver Fox deposit. Furthermore, the use of WHIMS to recover a REE concentrate represents a potential breakthrough in processing. The treatment of a REE concentrate would dramatically reduce the size of a Direct Extraction plant for REE recovery. Similarly, the use of acids and bases and other reagents would be significantly reduced. Search Minerals will follow up on these results and test the processing method for application at Foxtrot, Deep Fox and Fox Meadow mineralization. Search Minerals appreciates and thanks ACOA and InnovateNL for their continued support received to undertake this study.”Qualified Person:Dr. David Dreisinger, Ph.D., P.Eng, is the Company's Vice President, Metallurgy, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.About Search Minerals Inc. 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 South East 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.Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador,(“InnovateNL”) and from the Atlantic Canada Opportunity Agency (“ACOA”). We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.For further information, please contact:Greg Andrews President and CEO Tel: 604-998-3432 E-mail: info@searchminerals.caNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.Cautionary Statement Regarding “Forward-Looking” Statements:This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, future technical results from the Company’s recent Company’s drilling program and closing of the metallurgical testing. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that the Company is not able to find suitable investors for the Offering or does not receive the approval of TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

  • Search Minerals Announces Closing of Oversubscribed Private Placement
    GlobeNewswire

    Search Minerals Announces Closing of Oversubscribed Private Placement

    VANCOUVER, British Columbia, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”), is pleased to announce that due to strong investor demand, the Company increased the size of and closed its previously announced non-brokered private placement offering of units of the Company (the "Units") for gross proceeds of $534,000 (the "Private Placement"). Pursuant to the Private Placement, the Company issued 8,900,000 Units at a price of $0.06 per Unit, with each Unit consisting of one common share of the Company (each, a "Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant entitles the holder to acquire an additional Share for a period of 2 years at a price of $0.06 in the first year and $0.08 in the second year of the term of the Warrant.The proceeds of the Private Placement will primarily be used for general working capital purposes. The securities issued in connection with the Private Placement will be subject to a four month and one day hold period under applicable securities laws.Certain insiders of the Company purchased an aggregate of 420,000 Units under the Private Placement, constituting, to that extent, a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement, as the details and amounts of the insider participation were not finalized until closer to the closing and the Company wished to close the transaction as soon as practicable for sound business reasons.About Search Minerals Inc. 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 South East 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.Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.For further information, please contact:Greg Andrews President and CEO Tel: 604-998-3432 E-mail: info@searchminerals.caNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding “Forward-Looking” Statements:Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company’s anticipated use of proceeds of the Private Placement, and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability to obtain the necessary TSX Venture Exchange approvals to complete the Private Placement or to apply the proceeds of the Private Placement as anticipated by management.The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to close the Private Placement, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, including TSX Venture Exchange approval, for the Private Placement.Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

  • Search Minerals Announces Purchase of Property in St. Lewis, Labrador
    GlobeNewswire

    Search Minerals Announces Purchase of Property in St. Lewis, Labrador

    VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”), is pleased to announce that the Company has purchased property in St. Lewis, Labrador, for a purchase price of $ 210,000. The property is approximately 9180 square meters, which contains our 848 square meter building which is used for our accommodations, kitchen, office, material handling, core sorting and core shack. Search has been leasing this property since 2016 and we would like to thank the estate of Raymond Saunders for completing this transaction with Search Minerals. Search will make this our Newfoundland and Labrador office, as we continue to develop our Critical Rare Earth Element (“CREE”) District in SE Labrador. Greg Andrews, President/CEO stated: “We are extremely happy to call this our home, as it was renovated with the hard work by the late Ray Saunders, and we are proud to continue his legacy with this property.”The building was financed by way of a one year short term loan which carries a 2% monthly interest charge and repayable at anytime. There is a minimum of 6 months interest payable and the lenders are arm’s length to the Company.About Search Minerals Inc. 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 South East 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.Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.For further information, please contact:Greg Andrews President and CEO Tel: 604-998-3432 E-mail: info@searchminerals.caNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding “Forward-Looking” Statements:This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, completion of the Offering. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that the Company does not receive the approval of the TSX Venture Exchange for the Offering. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.