Search Minerals Inc (SMY) Financials
TSXV: SMY · REE, Zirconium · Advanced Exploration stage
- Market cap$8.6M
- Share price$0.175
- 52-week range$0.175 – $0.700
- Shares outstanding49,220,843
- ExchangeTSXV
- Websitewww.searchminerals.ca
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earth Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson - St. Lewis CREE District of South-east Labrador. The Company controls a belt 64 km long and 2 km wide and is road accessible, on tidewater, and located near 3 local communities. Search has completed a preliminary economic assessment report with resource estimates for FOXTROT and DEEP FOX. Search is also working on four exploration prospects along the belt which include: FOX MEADOW, SILVER FOX, FOX RUN and AWESOME FOX. Search has continued to optimize its patented Direct Extraction Process technology with the generous support from the Department of Energy and Mines, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. Search has completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.
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Search Minerals Inc financial statements
Key figures read from 41 of 41 financial statement filings, Oct 25, 2016 to Oct 27, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$1,431,465 | C$456,301 | C$7,292 | C$457,537 | C$1,618,223 |
| Total current assets | C$1,485,486* | C$543,894* | C$35,990* | C$1,283,703* | C$1,986,856* |
| Total current liabilities | C$7,230,006 | C$5,092,775 | C$3,681,688 | C$2,350,882 | C$682,980 |
| Working capital | (C$5,744,520) | (C$4,548,881) | (C$3,645,698) | (C$1,067,179) | C$1,303,876 |
| Exploration and evaluation assets | C$30,175,524 | C$29,210,019 | C$28,864,801 | C$27,123,829 | C$19,248,477 |
| Property, plant and equipment | C$253,103 | C$341,890 | C$463,265 | C$803,821 | — |
| Total assets | C$32,325,184 | C$30,371,956 | C$29,471,268 | C$29,288,803 | C$21,647,044 |
| Debt | C$4,159,312 | C$1,689,602 | C$386,180 | C$80,000 | C$80,000 |
| Total liabilities | C$7,849,599 | C$5,212,775 | C$3,801,688 | — | C$802,980 |
| Shareholders' equity | C$24,475,585 | C$25,159,181 | C$25,669,580 | C$26,937,921 | C$20,844,064 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Nov 2025 | FY Nov 2024 | FY Nov 2023 | FY Nov 2022 | FY Nov 2021 | |
|---|---|---|---|---|---|
| General and administrative | C$524,525 | C$147,408 | C$777,023 | C$586,034 | C$573,595 |
| Share-based compensation | C$94,683 | C$0 | C$92,897 | C$1,414,674 | C$930,159 |
| Impairments and write-downs | C$255,052 | C$0 | C$36,750 | — | — |
| Net income (loss) | (C$1,393,579) | (C$643,283) | (C$1,545,238) | (C$1,571,004) | (C$2,074,584) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Nov 2025 | FY Nov 2024 | FY Nov 2023 | FY Nov 2022 | FY Nov 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$489,123)* | (C$436,559)* | C$221,580* | (C$1,752,403)* | (C$1,838,471)* |
| Investing cash flow | (C$1,653,130)* | (C$389,423)* | (C$1,106,880)* | (C$7,025,977)* | (C$3,544,377)* |
| Financing cash flow | C$3,117,417* | C$1,274,991* | C$435,055* | C$7,617,694* | C$6,900,274* |
| Exploration spending (capitalized) | (C$1,453,997) | (C$220,482) | (C$1,067,829) | (C$6,670,624) | (C$3,180,893) |
| Property, plant and equipment spending | — | C$0 | (C$9,289) | (C$355,353) | (C$363,484) |
| Proceeds from share issues | C$813,212 | — | C$0 | C$7,451,637 | C$7,211,912 |
| Change in cash | C$975,164 | C$449,009 | (C$450,245) | (C$1,160,686) | C$1,517,426 |
| Cash at end of period | C$1,431,465 | C$456,301 | C$7,292 | C$457,537 | C$1,618,223 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Search Minerals Inc financings
6 financings announced or closed by Search Minerals Inc, read by Mining News Terminal, newest first.