
Scandium International Mining Corp. (SCY.TO) is focused on developing its Nyngan Scandium Project, located in New South Wales (NSW), Australia, Coverage was initiated in May 2017, with additional notes in September 2017, February 2018, August 2018, and February 2018.
Here's an update on activities since:
Feb. 19 - Update on Results from Eck Industries Testing of Scandium in Alloys. Select aluminum casting trial results (using SCY.TO's scandium) demonstrate unique properties showing superior resistance to permanent strength erosion in high heat environments.
Eck's VP Engineering/R&D (David Weiss) to present findings at TMS Conference in March 2019. Eck is currently focused on improving high temperature stability in certain casting parts they manufacture, and has filed patent applications on a novel alloy using Scandium and Cerium.
Feb. 21 - Update on Patent Filings Three granted US patents for potential use to the Nyngan Scandium Project, and possibly other scandium project flowsheets. Six pending US patent applications, covering various scandium recovery options applicable to the Nyngan Project resource.
Mar. 1 - Scandium International Announces Private Placement Financing. Total of 5.92M shares at C$0.18 per share, representing gross proceeds of C$1.06M. The proceeds will be used for general working capital, and specifically for the advancement of the Nyngan Scandium Project.
Rothschild Asset Management is primary investors, but the placement also reflects a unanimous participation from the SCY Board members.
Mar. 14 - Signs Letter of Intent with Bronze-Alu Group (BAL) to Test Scandium Alloys in Casting Applications. BAL is a privately held manufacturer of precision high-pressure die cast (HPDC) parts, and offers prototyping, machining, finishing and engineering services.
Mar. 22 - Closes Private Placement Financing - at C$0.18 per share for gross proceeds of C$1,06M.
April 18 - Receives Notice That Nyngan Mine Lease Has Been Determined Invalid. The Department has determined that its internal procedures failed to properly and fully consider an affected landowner's 'Agricultural Land' objection prior to the grant of ML 1763, as per applicable Law.
Apr. 22 - Nyngan Project - Mine Lease Status Update. Several resolution pathways are now clearly identified, and the parties are engaged in actions that could make meaningful advancements, or fully resolve the impasse.
May 15 - Nyngan Project - New Mine Lease Application Filed. The new application covers an estimated 371 hectares of ground where the surface rights are fully owned by the Company's Australian subsidiary, EMC Metals Australia Pty Ltd.
The new MLA filing is in direct response to ongoing delays in governmental resolution of a neighboring landowner's objection to the Company's 2017 mine lease grant (ML 1763). The new MLA is not expected to encounter delays in processing by the relevant governmental departments, and specifically is not dependent on either timing or ultimate resolution of the ongoing landowner objection to the award of ML 1763.
June 10 - Announces Voting Results of 2019 Annual General Meeting.
July 24 - New Mine Lease Grant Received for Nyngam. Granted a new mine lease (“ML 1792”) by the New South Wales Department of Planning, Industry and Environment (the “Department”), pertaining to the Nyngan Scandium Project.
ML 1792 covers 364.2 hectares of freehold ground fully owned by EMC-A, The ongoing status of the 2016 landowner objection to the earlier mine lease application no longer hinders the development of the Nyngan Scandium Project, and The Company continues to negotiate with the neighboring landowner to purchase some or all of the land over which the 2016 objection was lodged.
In the last six months, SCY.TO reported results from Eck Industries, provided a detailed update on patents, raised funds at $0.18 cents (non-brokered), and completed a LOI with BAL. In that period, it went from obtaining an invalid mining lease to recently being granted with a new one for Nyngam.
Nonetheless, the new mining lease is significantly reduced in size (364 vs. 874 hectares) from the original, but the advantage is that the landowner's claims are not at issue. SCY.TO still reports being in negotiation with the landowner but a resolution has yet to be conveyed.
Other than Eck's results, no updates have been provided regarding the seven other LOI partners (excluding BAL). While the company has not issued a release in the past two months, the most recent investor presentation suggest some propositions regarding both LOI and Off-takes. Most salient are:
Page 8 - Customer offtake agreements are final step to FID and financing, prior to construction.
Page 14 -On course to complete numerous additional LOI’s, as a vehicle to supply scandium samples for evaluation, and report results.
Page 14- Goal is to secure offtake agreements portfolio, as top priority, in 2019.
SCY.TO also refers to being on "on course to build the world’s first primary scandium mine, in 2020" (Page 19) with a 2021 date for initial production.
More recently, the last MD&A filing (August 9) reports:
Nyngan Scandium Project - Planned Activities for 2019-2020
The following steps are planned for Nyngan during the 2019 and 2020 calendar years:
Complete master alloy pilot trials and optimization work in Q3 2019,
Pursue additional offtake agreements in support of planned future scandium sales
Seek project construction financing for the Nyngan Scandium Project in Q1 2020
Commence site construction in 2020, with anticipated completion over 14 months, and
Initiate project commissioning in early 2021, with product available for sale later in that year.
The end of Q3 is imminent. However, an update regarding the master alloy pilot trials could be in the works.
Yet to date in 2019, SCY.TO has reported one new LOI (BAL), and no off-take.
Indeed, the question remains - is SCY.TO on schedule?

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