RE:RE:RE:NEWS: SCY successfully completed Master Alloy programI noticed that the Annual Report 2019 is not jet on the website, but it can be found on SEDAR.
Planned activities for 2020-2021 (page 21) The following steps are planned for Nyngan during the 2020 and 2021 Calendar years:
- Complete master alloy pilot trials and optimization work in Q1 2020
- Pursue additional offtake agreements in support of planned future scandium sales,
- Seek project construction financing for the Nyngan Scandium Project in 2020,
- Commence site construction in the late of 2020, with anticipated construction completion over 14 months, and
- Initiate project commissioning in late 2021, with product available for sale by year end 202
My observations: - The MA pilot trials and optimization work has now completed (see NR, Feb 24)
- ‘Commence site construction in the late of 2020’ has not moved since Q3 2019, as Ogny already pointed out.
This is a very good sign. - If you work back from the planned site construction, we should have (realistically):
- project construction financing in Q3 2020
- additional offtakes in
Q2 2020 SCY’s current market cap, relative to the NPV is
only 8% (slide 19 of the CP). This will of course change once the offtakes materialize (within the next 4 months); there’s a lot of upside potential here. Let me close with a fragment from the Proactive interview with GP about the current status of the offtakes.
GP: “… when we finish our offtake portfolio”.
Andrew: “And those are fairly advanced, are they?”.
GP: “
Yes,
we’re talking to a number of people. We have 9 LOI’s established at the moment, with various potential customers. They’re not all going to be customers, but there are a few out of that list that we expect… [he hesitates for a moment because IMO he doesn’t want to say: “will be customers”] … make really good candidates for customers. And then of course there are many other people we are talking to, that are not in that publicized LOI group [… and some of them will also going to be customers, IMO.]”
But listen, if you say: “They’re
not all going to be customers” this already implies that some will definitely going to be customers. Pure logics.
Eck Industries will most certainly be among them.
Austal also makes for a very likely candidate, why else state that the R&D program with Eck specifically - firstly - targets marine applications:
'Initial high value application expected to be in marine applications’
Exciting times ahead.
GLTA
OgnyQ4 wrote: AllDutch1234567 wrote:
Here's one of my previous post (January 4, 2020), that I think is extremely relevant now.
https://stockhouse.com/companies/bullboard/t.scy?postid=30517766 This is the part I'm referring to: There’s no issue with the willingness of the LOI partners, it is the completion of master alloy pilot trials and optimization work that is causing delays. ‘Complete master alloy pilot trials and optimization’ was first mentioned in the 10-K 2018. https://www.scandiummining.com/site/assets/files/6038/2018-form-10k_scy.pdf Page 26 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 Q1/Q2 2019 Now go to the following 2019 quarterly reports and watch a pattern emerge (focus on timelines and the first 3 bullets) https://www.scandiummining.com/site/assets/files/6047/scy_form_10q_q1_2019_final.pdf Page 15 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 Q2 2019, · Pursue additional offtake agreements in support of planned future scandium sales, · Seek project construction financing for the Nyngan Scandium Project in Q4 2019/Q1 2020 https://www.scandiummining.com/site/assets/files/6051/2019-q2-scy-form-10q-filed.pdf Page 15 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 https://www.scandiummining.com/site/assets/files/6053/scy_form_10q_q3_2019.pdf Page 16 Nyngan Scandium Project - Planned Activities for 2019-2020 The following steps are planned for Nyngan during the 2019, 2020 and 2021 calendar years: • Complete master alloy pilot trials and optimization work in Q4 2019, • Pursue additional offtake agreements in support of planned future scandium sales, • Seek project construction financing for the Nyngan Scandium Project in Q2 2020 I think it is safe to say that the offtakes and project construction financing are both waiting on completion of the master alloy trials and optimization work. SCY has to meet the standards set by the Aluminum alloy manufactures.
YOU was absolutely right and . here is the prove: - for the first time there is NO CHANGES in the reported planning activities between two quaters in the SCY reports
Q4 2019
Complete master alloy pilot trials and optimization work in Q1 2020
Q3 2019
Complete master alloy pilot trials and optimization work in Q4 2019
Q4 2019
Pursue additional offtake agreements in support of planned future scandium sales,
Q3 2019
Pursue additional offtake agreements in support of planned future scandium sales,
Q4 2019
Seek project construction financing for the Nyngan Scandium Project in 2020,
Q3 2019
Seek project construction financing for the Nyngan Scandium Project in Q2 2020
Q4 2019
Commence site construction in the late of 2020, with anticipated construction completion over 14 months, and
Q3 2019
Commence site construction in late 2020, with anticipated completion over 14 months, and
Q4 2019
Initiate project commissioning in late 2021, with product available for sale by year end 2021.
Q3 2019
Initiate project commissioning in late 2021, with product available for sale by year end 2021.