Why Invest in Search Minerals
Why Invest in Search Minerals?
Search Minerals has a solid management team and a quality road accessible Critical Rare Earth element deposit (FOXTROT Project) strategically located on tidewater. The deposit has economically interesting grades of dysprosium, neodymium, praseodymium and terbium, all of which are in short supply and play important roles in the rapidly growing permanent magnet market and/or green economy technologies.
The Company enjoys tremendous support from the Government of Canada and the Province of Newfoundland and Labrador, both of which have financially supported the development of our proprietary metallurgical process. In addition, Search personnel on the ground have worked hard to build strong positive relationships in local communities and with the Nunatukavut Community Council who represent the local aboriginal people. All of these factors will help to ensure that our project can be brought into production at relatively low capital and operating costs and in a timely manner. This is important in a world where strategic supply and environmental responsibility are very real considerations for end use manufacturers. The Company has identified two additional discoveries and 20 showings in close proximity to FOXTROT that offer significant investment upside over and above the NI 43-101 Preliminary Economic Assessment on the FOXTROT Deposit. Our strategy is simple; bring in the right investment and operational partners, focus on efficient operations and through new exploration and development, identify additional throughput to provide economies and greater shareholder value.
Recap of the key Investment Points
- Recent Preliminary Economic Assessment on the FOXTROT resource
- High Concentrations of Critical REE – Nd, Pr, Dy and Tb
- Low capital cost $152M (including a $33M contingency)
- A scalable breakthrough hydrometallurgical process (U.S. patent pending)
- After-tax payback period – 4.4 years at a 1,000 tpd production rate
- Exploration Upside – Search controls a 63 km x 2 km CREE District with other discoveries
- A dry stackable residue (waste) which is environmentally friendly
- Newfoundland and Labrador is mining friendly province
- Very positive relationships with aboriginal and local communities
- Experienced and committed Management and Board of Directors