Searchlight Minerals (NASDAQOTCBB:SRCH.OB)

shayangol (97.92) Submitted: 12/31/2011 9:01:17 PM : Start Price: $0.68 SRCH.OB Score: -120.64

poop

joryko (98.84) Submitted: 12/9/2011 4:40:11 PM : Start Price: $0.68 SRCH.OB Score: -119.72

Send it back down.

JTMcGee (99.02) Submitted: 9/29/2011 4:03:21 PM : Start Price: $1.05 SRCH.OB Score: -29.47

Dumping against the pump

TSIF (99.96) Submitted: 8/31/2011 11:46:07 AM : Start Price: $0.61 SRCH.OB Score: -144.33

I had lost "track" of Searchlight Minerals as it drifted well below the $0.50 pick threshhold. Sometimes I look back on my closed calls and "chide" myself for getting out of a downthumb too early, but sometimes I think I'm "playing" the charts and anticipating the rise/fall (I didn't say pump/dump, I wouldn't do that)..... of the share price and the "sentiment" and I miss the opportunity to ride it down further.

Searchlight has produced little meaningful results since I downthumbed it a year or so ago and since it drifted to the $0.35 range. The last few days it has soared upward from $0.35 to a peak (so far) today of $0.89. Nothing like a 154% three day gain!! The problem is that those jumping in are in most cases happily replacing more long term bagholders who couldn't get out. Sub 50,000 share volume days were common before the 6 million shares that traded the last three days in ever increasing increments.

Pitch from one year ago still extremely accurate and matches the last 10-Q almost exactly, they are counting on leaching "missed' minerals from a slag pile at Clarksdale and using the proceeds to open a new mine at Searchlight. They have been stalled out the last two years on the first step....

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Their efforts to go through the "dump" site from a mine in Arizona and use "new processes" to glean more base metals from it, has been a two year long process that has showed various decent results in pilot, but not matured in real life. The variety of the chemicals used, grinding, leaching, abrasiveness on the equipment, experts called in, etc, continues. The area is miner friendly since this was an existing mine, but the road infrastructure needs some work. They also hope to mine for gold in Searchlight, Nevada.

The Gold mining phase is deferred while they work on the slag recovery. My issues, besides no clear formula to accomplish their goals two years down the line is MONEY.

No Mon, no Fun. They might be better off shining a searchlight at the slag pile and picking out the shiny metals by hand. This will continue to be dilutive and the 148 Million in market cap is absurd, but again, someone was/is buying.

Another concern is that insiders are selling. Crockett a director has permission to sell another 500,000 shares into the open market for estate planning diversification, etc.........

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Current 12 Aug 10-Q
http://biz.yahoo.com/e/110812/srch.ob10-q.html
Our exploration and evaluation plan calls for significant expenses in connection with the Clarkdale Slag Project and the Searchlight Gold Project. During the next 12 months, our management anticipates that the minimum cash requirements for funding our proposed testing and feasibility programs and our continued operations will be approximately $7,300,000. As of August 12, 2011, we had cash reserves in the amount of approximately $5,850,000. Our current financial resources may not be sufficient to allow us to meet the anticipated costs of our testing and feasibility programs during the next 12 months and we may require additional financing in order to fund these activities.

BuffettJunior1 (95.04) Submitted: 8/17/2011 11:05:39 AM : Start Price: $0.64 SRCH.OB Score: -130.07

Garbage stock!