Searchlight Minerals Corp (PK:SRCH)
Business Focus: Integrated Mining
| Sector: Basic Materials | Industry: Integrated Mining |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 2360 West Horizon Ridge Parkway, #100B HENDERSON NV 89052 |
| Tel: | N/A |
| Website: | https://www.searchlightminerals.com |
| IR: | See website |
| Key People | ||
| Martin B. Oring President, Chief Executive Officer, Director | ||
| Business Overview |
| Searchlight Minerals Corp. is an exploration stage company, which is engaged in a slag reprocessing project and the acquisition and exploration of mineral properties. The Company is focused on the Clarkdale Slag Project, located in Clarkdale, Arizona, which is a reclamation project to recover precious and base metals from the reprocessing of slag produced from the smelting of copper ore mined at the United Verde Copper Mine in Jerome, Arizona. The Company is involved in separating valuable metals, including gold, high-quality pig iron, and zinc oxide from approximately 20 million tons slag pile left from the United Verde Copper Mine in Jerome, Arizona. It separates out pig iron of 95% or greater purity from the Clarkdale slag creating a glass with residual gold trapped inside from the slag. The Company's wholly owned subsidiaries include Clarkdale Minerals, LLC and Clarkdale Metals Corp. |
| Financial Overview |
| For the nine months ended 30 September 2016, Searchlight Minerals Corp revenues was not reported. Net loss decreased 44% to $13.9M. Lower net loss reflects Mineral exploration and evaluation exp. decrease of 19% to $1.4M (expense), Depreciation decrease of 20% to $860K (expense), General and administrative - related par decrease of 60% to $61K (expense). |
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