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Last C$0.08 CAD
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As of 3:58 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

search minerals inc (SMY) Snapshot

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08/25/14 - C$0.16
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search minerals inc (SMY) 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 (SMY) 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 (SMY) Key Developments

Alterra Resources Inc. and Search Minerals Inc. Announces the Discovery of Three Belts of Critical Rare Earth Element

Search Minerals Inc. and its wholly-owned subsidiary, Alterra Resources Inc. announced the discovery of three belts of critical rare earth element (CRITICAL REE) mineralization in the Henley Harbour area of SE Labrador: Bad Bay - Iceberg, St. Peter's Bay and Pleasure Pond. Channel and grab samples from showings in these belts reveal high concentrations of REE, Nb, Zr and Y from the Bad Bay-Iceberg belt, and high concentrations of Zr, Nb, and HREE, including Dy and Y, from St. Peter's Bay and Pleasure Pond belts. Three new prospective belts for CRITICAL REE (Nd, Tb, Dy, Y) discovered in the Henley Harbour CRITICAL REE District, SE Labrador; Best channel results (Bad Bay - Iceberg): 3.55m of 280 ppm Dy (322 ppm Dy2O3) including 0.60m 506 ppm Dy (582 ppm Dy2O3); (Pleasure Pond): 0.18m of 904 Dy (1,040 ppm Dy2O3); High grades are found in each belt: (1) Bad Bay - Iceberg reveals Dy values up to 506 ppm (Dy203 up to 582 ppm); (2) St. Peter's Bay reveals Dy values up to 1,290 ppm (Dy203 up to 1,484 ppm); and, (3) Pleasure Pond reveals Dy values up to 3,400 ppm (Dy2O3 up to 3,910 ppm); and, Each belt exhibits characteristics similar to the HighREE Hills and Ocean View belts found 30 - 40 km to the north in the Port Hope Simpson CRITICAL REE District.

Search Minerals Inc. Announces Management Changes

Search Minerals Inc. announced the appointments of Greg Andrews to President of the company and Barry Girling to Corporate Secretary, effective immediately. James Clucas, the outgoing Interim President and Chief Executive Officer, has transitioned to Executive Chairman of the company. Mr. Andrews has worked with Search prior to July 2013 and is very familiar with the Company and the Board of Directors. Mr. Andrews’ business acumen, strategic planning and networking abilities will be greatly utilized during the next phase of developing the District in Labrador. Mr. Girling had previously been the Corporate Secretary of Search from 2010 to 2013 and is also very familiar with the company and the Board of Directors. Mr. Clucas remains a Director of the company and has also taken on the role of Executive Chairman. The role of Chief Executive Officer will remain vacant at the present time.

Search Minerals Inc. Announces Completion of A Scale Up Test of the Search Minerals Direct Extraction Process on Foxtrot Resource

Search Minerals Inc. announced the completion of a scale up test of the Search Minerals Direct Extraction Process on Foxtrot resource, to produce a high grade REE product for refining. The scale up test was performed at SGS Minerals, Canada (SGS) with funding support provided by the Research & Development Corporation (RDC) of Newfoundland and Labrador and from the Atlantic Canada Opportunities Agency (ACOA). Highlights of the process: A channel sample of Foxtrot resource was crushed to 6 mesh (~3.45 mm) size and treated in a scaled up test of Search's Metallurgical Process for rare earth recovery. he channel sample contained 1.12% Total Rare Earth Oxide (TREO) including 0.183% Nd2O3, 0.0262% Dy2O3, and 0.151% Y2O3. The crushed 6 mesh material was mixed with 100 kg/t of H2SO4 in a rotary contactor and then passed continuously through a pilot plant kiln for heating to 200 °C. The acid/ore mixture was easily handled and did not stick on the kiln internals. The material appeared as a dry sand product at the kiln discharge. The kiln product was water leached at 10% solids and 90 °C for 24 hours to extract the rare earth elements into solution. The leach slurry was filtered to recover the leachate solution and produce a washed solid residue (waste product from the process). The leachate was purified through simple pH adjustment with magnesium carbonate (MgCO 3) to reject key impurities (Fe, Al, Si, Th, U). The rare earth elements were recovered from the purified solution by addition of sodium carbonate (Na2CO3). The (unoptimized) recovery of the rare earths to the carbonate precipitate were: 71% Nd; 68% Dy; 64% Y; An average recovery of 65% TREE/LREE/HREE. There is scope for increasing recoveries through optimization of the acid dosage, temperature and time of heating and particle size of the crushed material. Recovery optimization will be undertaken at the demonstration pilot plant stage of development planned for 2015. The rare earth carbonate precipitate was purified using Search's process of acid re-leaching, pH adjustment to reject impurities, rare earth oxalate precipitate and calcination. The final rare earth oxide product (the calcine) analyzed 98.9% TREO+Y and only 2.4 g/t of Th. This calcine would be refined at a rare earth refinery into separate rare earth elements products for sale.


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