Scandium International Mining Corp T.SCY

Alternate Symbol(s): SCYYF

Metals & Mining Industrial Metals & Minerals

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.

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Scandium International Mining Corp > Annual report – WHAT YOU NEED TO KNOW

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Comment by teddygvaon Mar 26, 2021 8:59am

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Post# 32884914

RE:Annual report – WHAT YOU NEED TO KNOW

How do you see their future?

OgnyQ4 wrote:

The 2017 Alcereco offtake agreement expired in December 2020, and was not renewed by the parties.

Nyngan Scandium Project - Planned Activities -

Initiate project commissioning in early 2023, with product available for sale by mid-year 2023

At December 31, 2020, we had working capital of $(951,674) including cash of $170,284 and current liabilities of $1,154,388

As at December 31, 2020, the Company owed $702,456 (2019 - $269,165) to officers of the Company.

Our continued development is contingent upon our ability to raise sufficient financing both in the short and long term. There are no guarantees that additional sources of funding will be available to us; however, management is committed to pursuing all possible sources of financing to execute our business plan.