RE:New corporate presentation: HPA project is well underwayAllDutch1234567 wrote: https://scandiummining.com/site/assets/files/3480/corporate_investor_presentation-_november_12_2021__final.pdf Slide 5 clearly shows the HPA process flow.
CMR is now mainly focused on HPA. And
potentially other critical metals. Scandium requires its own processing circuit (but is still a priority).
The 70M CapEx will be split: 50:50 ownership (HPA on-site, Phoenix is the operator). Development program: US 2.7M (50:50) now focused on HPA.
Economics (slide 6) do not take other recoverable metals (Cobalt, Nickel, Scandium, etc.) into consideration.
SCY needs to come up with US 1.35M + 35M (which is the 50:50 split), in total US 36.5M. Which is far less than previously estimated.
Clear path to production. Although SCY has not yet financially contributed to the project, that doesn't stop them and the people at NGM to work on the project.
Conclusion: The HPA project is well underway
As stated by Northmark, as of Sep. 30 - $64K in cash! Even with the lower estimate of $36.5M its quite the gap! :)
as it is for the $1.35M needed for the development program or the $0.25M needed for stage one...
Will they sell options to fundraise the first bit? It could be a while given the daily volume and current valuation.
Bottom line is they need to raise funds to even get the thing started. Anyways, not sure how can anyone conclude that things are well underway if no money is being raised! :)