RE:RE:RE:RE:Not just a scandium play anymore...Hi Zerosum, I was a bit surprised by your: “where did you get that”. Let me elaborate a bit on this.
Here’re 3 fragments from the May 15, 2020 news release on CMR, which are relevant in this respect.
1. ‘The
copper industry is fully aware of the opportunity to harvest valuable metals from copper process waste streams, and the industry does so with significant success today in precious metals.
Other specialty metals recovery work has historically been considered un-economic, based on effective recovery costs and recovered metals pricing. The technology in this area has advanced, improving both operating costs and recoveries.’
2. ‘Recovery metals targeted by this application include cobalt, copper, nickel, scandium, and zinc, and
possibly other metals and rare earth elements,
depending on recovery economics. The suitability of this IX technology, and the target metal opportunities, vary with the specifics of individual orebodies, and associated SX plant characteristics. Depending on specific project variables, and the value and volume of critical metals recovered, the end result economics are expected to be significant to the parties involved.’
3. ‘The Company has filed for patent protection on various aspects of its relevant technical program ideas with the US Patent Office, using technical information from preliminary bench scale testing with actual copper SX raffinate solutions. ‘
We’re talking here the application of new technologies – not proven technology - in order to achieve economically viable results. To say yes to a CMR-deal the copper producer commits itself to the funding and construction of a chemical plant and the set-up of a new entity. Total costs? Maybe 50-100 Million? Therefore they need more than some 'on the back of a napkin' calculations to back this decision. This is not a farfetched idea, IMO.
In mining, projects normally start with a PEA followed by a PFS and DFS. In the process assumptions are replaced by facts, lowering the margins for errors. It takes many years and lots of money to get there. Why should this be so fundamentally different for CMR? If you can do this in say less than 1 years, it may be considered as ‘fast’.
Back in May 2020, based on the info in the news release, I would put CMR in the ‘PEA stage’ of development. “Depending on specific project variables, and the value and volume of critical metals recovered, the end result economics are expected to be significant to the parties involved.”
It’s a pity that they didn’t give us any numbers (estimates). They also could have done a better job on the milestones and timelines, in order to manage expectations. However, it does explain why it takes more than 6 months or so to close a deal with a copper producer, IMO.
Zerosum wrote: AllDutch, where did you get that? So here's one thing they could do, stop saying your developing the worlds first Scandium mine. Nobody cares except some at SCY. Say how many deposits you have, then tell the world how much Scandium you're sitting on. And do it in year terms because the price will only come down. Make it known beyond a reasonable doubt so any idiot can look at the web site and say wow RIO will have to take these guys out won't they. Becuase look at all the scandium they have and a bunch of it is shovel ready. I beyyet grab some SCY because RIO will have to call SCY when they develop the market to the tipping point.