RE:RE:RE:RE:RE:RE:Cleanteq vs Scandium International Mining market cap'sWhy I think that SIL will not convert to shares but they will pony up for 20% of the construction of the mine.
In digging around the internet i discovered who the principals behind SIL are. I will not mention names because they want to remain anonymous but at some point in time they will no doubt step forward and i feel it will be to finance part of the construction and possibly help in arranging the balance of the financing.
As J. Kaiser recently noted as well, this man retired from his position as CEO of a New York listed company. If he had no intention to become more involved in Scandium International Mining and just wanted to convert to shares then why bother retiring?? It just seems like too much of a coincidence to me the timing of his retirement.
His brother was a principal of a hedge fund company as well so the two of them know what they are doing.
Will they have a more direct involvement with SCY??
On another note these people selling right now must have way too much stock or dont care what the company is doing. We are at the biggest milestone for the company over the last 6 years in the granting of this MINING LEASE and this is the green light to raise the capital for the construction of the mine.
The financing of 100,000,000 is quite small where mines are concerned and has approx 3 year payback with a IRR of 33% after taxes. This is FANTASTIC.
Compare this to Niocorp who is trying to reduce the capex of their mine construction to less than 1 billion just for the mine not including the 480 million for sustaining the LOM over the 20 years. This is only the updated PEA and is not even a Feasibility Study with tighter margins. This could change drastically and could end up costing much more once they get this done.
If anyone has information about CLQ maybe they could share it with us but because they are going after the Nickel and Cobalt it changes everything regarding the mine startup timeline to much more distant in the future.
My money is on SCY and i like what i see for the future.
Waiting on the Mining Lease and PDAC just around the corner