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Last $0.07 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 4:30 PM 05/15/15 All times are local (Market data is delayed by at least 15 minutes).

search minerals inc (SHCMF) Snapshot

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search minerals inc (SHCMF) Details

Search Minerals Inc., an exploration stage company, engages in acquiring, exploring, and evaluating mineral resource properties in the Province of Newfoundland and Labrador. The company’s flagship project includes the Foxtrot Project in the Port Hope Simpson rare earth elements district located in southeast Labrador. It is also involved in the research and development of the starved acid leaching technology, a process to recover nickel, cobalt, and other metals from laterite ores or residues from other processes. Search Minerals Inc. is headquartered in Toronto, Canada.

search minerals inc (SHCMF) Top Compensated Officers

Executive Chairman and Member of Audit Commit...
Total Annual Compensation: C$220.8K
Chief Financial Officer
Total Annual Compensation: --
Vice-President of Exploration
Total Annual Compensation: C$200.0K
Compensation as of Fiscal Year 2013.

search minerals inc (SHCMF) Key Developments

Search Minerals Inc. Becomes as Defendant in Lawsuit by Former Officers

Search Minerals Inc. announced that it has been named as a defendant in a lawsuit commenced in the Ontario Superior Court of Justice by two former officers of the company, Stephen Keith and Alexandre Penha, in relation to an alleged defamatory news release issued by the company in 2014 and the payment of compensation and expenses. The company believes that it has meritorious defences and set-offs to the claims and intends to vigorously defend the action.

Search Minerals Inc. Owns 100% of Red Wine Complex Property with Purchase of Great Western Mineral's Working Interest

Search Minerals Inc. and its wholly-owned subsidiary, Alterra Resources Inc. announced that the company has purchased from Great Western Minerals Group Ltd. (GWMG) its interest in the Red Wine Complex Property. GWMG had acquired its interest in the Property pursuant to an option agreement between the company and GWMG dated July 23, 2010. Following this acquisition, Search now owns 100% of the Property. The acquisition was completed pursuant to a Sale and Purchase Agreement whereby Search acquired GWMG's interest for payment of $20,000, which amount has been paid. The Red Wine REE Project currently consists of 8 licenses (297 claims) in central Labrador, about 110 km NE of Churchill Falls.

Search Minerals Receives Independent Engineering Study for Processing Facility in SE Labrador

Search Minerals Inc. and its Alterra Resources Inc. announced that, it has received the independent engineering study from SNC-Lavalin Australia Pty Ltd. The Study reports the estimated construction and operating costs for a REE mineralization treatment facility in SE Labrador which would apply Search's proprietary process for treatment of REE mineralization from the Company's Foxtrot Deposit and was partially funded by a $50,000 grant from the Atlantic Canada Opportunities Agency. The proprietary process is a direct leach on the crushed material, which thereby, eliminates grinding, flotation, gravity and magnetic separation. The Study will be used by Search in the preparation of an updated and revised Preliminary Economic Assessment (PEA) for Search's Foxtrot Deposit.


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