FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Luxor Capital Group, LP 		2. Issuer Name and Ticker or Trading Symbol

Searchlight Minerals Corp. [ SRCH ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

1114 AVENUE OF THE AMERICAS, 29TH FLOOR 		3. Date of Earliest Transaction (MM/DD/YYYY)

9/16/2011
(Street)

NEW YORK, NY 10036
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   9/16/2011     P    249649   A $0.8673   4057861   D   (1) (3) (4) (5) (6) (7)  
Common Stock   9/16/2011     P    45   A $1.13   4057906   D   (1) (3) (4) (5) (6) (7)  
Common Stock   9/16/2011     P    310351   A $0.8673   1154939   I   See   (2) (3) (4) (5) (6) (7)
Common Stock   9/16/2011     P    55   A $1.13   1154994   I   See   (2) (3) (4) (5) (6) (7)
Common Stock   9/19/2011     P    367463   A $1.45   4425369   D   (1) (3) (4) (5) (6) (7)  
Common Stock   9/19/2011     P    9738   A $1.189   4435107   D   (1) (3) (4) (5) (6) (7)  
Common Stock   9/19/2011     P    7624   A $1.1937   4442731   D   (1) (3) (4) (5) (6) (7)  
Common Stock   9/19/2011     P    32537   A $1.45   1187531   I   See   (2) (3) (4) (5) (6) (7)
Common Stock   9/19/2011     P    862   A $1.189   1188393   I   See   (2) (3) (4) (5) (6) (7)
Common Stock   9/19/2011     P    676   A $1.1937   1189069   I   See   (2) (3) (4) (5) (6) (7)
Common Stock   9/20/2011     P    469720   A $1.1691   4912451   D   (1) (3) (4) (5) (6) (7)  
Common Stock   9/20/2011     P    38447   A $1.1691   1227516   I   See   (2) (3) (4) (5) (6) (7)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  Reflects the securities of the issuer owned directly by Luxor Capital Partners Offshore Master Fund, LP (the "Offshore Master Fund"). The Offshore Master Fund also directly owns warrants which expire on November 12, 2012 ("2012 Warrants") exercisable for an additional 1,091,698 shares of common stock ("Shares").
( 2)  Reflects the securities of the issuer held in accounts managed separately (the "Separately Managed Accounts") by Luxor Capital Group, LP ("Luxor Capital Group"). The Managed Accounts also hold 2012 Warrants exercisable for an additional 242,117 Shares.
( 3)  Luxor Capital Group acts as the investment manager of Luxor Capital Partners, LP (the "Onshore Fund"), Luxor Spectrum, LLC (the "Spectrum Onshore Fund"), Luxor Wavefront, LP (the "Wavefront Fund"), the Offshore Master Fund, Luxor Capital Partners Offshore, Ltd. (the "Offshore Feeder Fund"), Luxor Spectrum Offshore Master Fund, LP (the "Spectrum Offshore Master Fund") and Luxor Spectrum Offshore, Ltd. (the "Spectrum Offshore Feeder Fund") (collectively, the "Luxor Funds") and the Separately Managed Accounts.
( 4)  Luxor Management, LLC ("Luxor Management") is the general partner of Luxor Capital Group. Mr. Leone is the managing member of Luxor Management. LCG Holdings, LLC ("LCG Holdings") is the general partner of the Onshore Fund, the Wavefront Fund, the Offshore Master Fund and the Offshore Spectrum Master Fund and the managing member of the Spectrum Onshore Fund. Mr. Leone is the managing member of LCG Holdings. The Offshore Master Fund is a subsidiary of the Offshore Feeder Fund, and the Spectrum Offshore Master Fund is a subsidiary of the Spectrum Offshore Feeder Fund.
( 5)  After the transactions reported herein, (a) the Onshore Fund directly owns 4,035,589 Shares, 2012 Warrants exercisable for an additional 2,451,628 Shares and warrants which expire on June 1, 2015 (the "2015 Warrants") exercisable for 1,511,109 Shares, (b) the Spectrum Onshore Fund directly owns 129,577 Shares and 2012 Warrants exercisable for an additional 24,536 Shares, (c) the Wavefront Fund directly owns 1,948,595 Shares and 2015 Warrants exercisable for an additional 488,891 Shares, and (d) the Spectrum Offshore Master Fund directly owns 1,139,334 Shares and 2012 Warrants exercisable for an additional 212,381 Shares.
( 6)  The issuer entered into a Common Stock Purchase Agreement dated December 22, 2010 with an investor. As a result of multiple issuances of Shares by the issuer under such agreement and due to anti-dilution provisions in the 2012 Warrants, the exercise price of the 2012 Warrants was reduced to $1.79 per share, and the number of Shares the 2012 Warrants are exercisable for were adjusted pursuant to the terms therein to the numbers described in this Form 4. Due to a termination of a management agreement with one of the Separately Managed Accounts, certain shares previously held in the Separately Managed Accounts prior to the transactions reported herein are no longer managed by Luxor Capital Group.
( 7)  Luxor Capital Group, Luxor Management and Mr. Leone may each be deemed to indirectly beneficially own the shares of common stock held by the Luxor Funds and the Separately Managed Accounts. LCG Holdings may be deemed to indirectly beneficially own the shares of common stock held by the Onshore Fund, the Spectrum Onshore Fund, the Wavefront Fund, the Offshore Master Fund and the Offshore Spectrum Master Fund. For purposes of this Form 4, Luxor Capital Group, Luxor Management, LCG Holdings and Mr. Leone each disclaims beneficial ownership of the shares of common stock owned by the Luxor Funds and the Separately Managed Accounts, except to the extent of their or his pecuniary interest therein.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Luxor Capital Group, LP
1114 AVENUE OF THE AMERICAS
29TH FLOOR
NEW YORK, NY 10036
X

LUXOR SPECTRUM LLC
1114 AVENUE OF THE AMERICAS
29TH FLOOR
NEW YORK, NY 10036
X

LUXOR CAPITAL PARTNERS OFFSHORE LTD
C/O M&C CORPORATE SVCS LTD
PO BOX 309 GT UGLAND HOUSE
GEORGE TOWN, E9 00000
X

Luxor Wavefront, LP
1114 AVENUE OF THE AMERICAS
29TH FLOOR
NEW YORK, NY 10036
X

LUXOR SPECTRUM OFFSHORE LTD
C/O MAPLES CORPORATE SERVICES LTD
P.O. BOX 309 GT
GEORGE TOWN, E9 KY1-1104
X


Signatures
Norris Nissim, General Counsel of Luxor Management, LLC, as General Partner of LUXOR CAPITAL GROUP, LP 9/20/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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