Scandium Canada Ltd credit stockwatch .... hey now we know where all the scandium camr from.
Guy Bourassa and Pierre Neatby's Scandium Canada Ltd. (SCD) closed unchanged at three cents on 47,000 shares. The company has sold 2.65 million flow-through shares at five cents and 7.18 million regular shares at four cents apiece, raising a total of nearly $420,000. Most of the hard dollars are for corporate working capital, while the flow-through cash is for further work on the Crater Lake scandium and rare earth project in Northern Quebec.
Mr. Bourassa, CEO, and Mr. Neatby, president and chief operating officer, say that the flow-through cash will cover the cost of processing and analyzing drill core samples, and to update the resource model for Crater Lake based on the new drilling -- a 2,850-metre effort that wrapped up in early August. A portion of that drilling sought to extend the TG zone by 250 metres, adding to the 350-metre portion previously identified. In 2021, the company listed 11.8 million tonnes indicated at 276 grams of scandium per tonne, along with modest amounts of rare earth oxides, with 15.9 million tonnes inferred at comparable grades