Search Minerals President: Foxtrot Project Has Low Capex For the Rare Earth Space

Speaking to CBC’s Labrador Morning, Search Minerals (TSXV:SMY) President Greg Andrews said that the company’s Foxtrot project has a low initial capital cost compared to other rare earth projects.
As quoted in the publication:

Search Minerals president Greg Andrews said the company has received a preliminary economic assessment on its “Foxtrot” project, in the Fox Harbour area, to see if it’s economic to move into production.
Andrews said it’s all good news so far.
“With those numbers, with the low capital costs, it leads us to believe to continue working on that project,” he told Labrador Morning.
“We believe that we can be financeable at a cost of $152 million. In the rare earth space, that’s quite a low number for an initial capital cost compared to other projects,” Andrews said.

Click here for the full article.