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Scandium International Mining Corp T.SCY

Alternate Symbol(s):  SCYYF

Scandium International Mining Corp. is a mineral exploration and development company. The Company’s advanced project is the Nyngan Scandium Project, located in New South Wales, Australia (the Nyngan Scandium Project), on which it holds a mine lease grant, a development consent, and 100% of the mineral rights. The Nyngan Scandium Project site is located approximately 450 kilometers (km) northwest of Sydney, New South Wales (NSW), Australia and approximately 20 km due west from the town of Nyngan. The Company has a 100% interest in an exploration license (EL 7977) covering the Honeybugle Scandium property. The Honeybugle Scandium property covers over 34.7 square kilometers and is located 24 km from the Nyngan Scandium Project. The property includes four distinct magnetic anomalies: Seaford, Woodlong, Yarran Park and Mallee Valley. The Company's subsidiaries include EMC Metals Australia Pty. Ltd., EMC Metals USA Inc., Scandium International Mining Corp. Norway AS and others.


TSX:SCY - Post by User

Post by stocknutfanon Jan 08, 2007 7:50pm
216 Views
Post# 11976283

SXR Uranium One Acquistion Thwarted

SXR Uranium One Acquistion Thwarted

SXR Uranium One (TSE:SXR) received a nasty surprise today when mining giant RIO TINO (NYSE:RTP) pulled its offer of the Wyoming Sweetwater mill and adjacent properties to the uranium junior. The reason, of course, being that the Cigar Lake impetus has rocketed uranium prices and the original $110 million offer by SXR in the summer now to Rio Tinto does not seem to make as much sense. SXR shares were down sharply in today's trading session, shaving 7.8% as investors reacted disappointingly to the news.

So now, the company has several challenges: first, to seal its other 2006 summer deal with US Energy Corp for the Shootarang Mill in Utah, and secondly, to figure out what to do with its pile of cash; it had recently completed a $155 million offering of convertible debentures. The company already has said that it would not seek to purchase uranium explorers; personal speculation puts out the logical possibility that it would seek to buy one of the uranium near-producers with American properties: UR-ENERGY (TSE:URE), ENERGY METALS (NYSE:EMU TSE:EMC), STRATHMORE (CVE:STM), URANERZ (AMEX:URZ) are candidates, although Energy Metals has a generous market cap of around $650 million, while Ur-Energy (~$280 million), and Strathmore ($225 million) would be somewhat more palatable.

https://uraniumstockinvesting.blogspot.com/

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