Scandium International Mining Corp T.SCY

$3,402,290

[northmark]

Now we need a game plan.

[SiteSearch]

For the $3.4 million sound like the game plan is:  "will be used towards the maintenance of the Company's scandium minerals properties and for general and administrative expenses." And from the warrants it's seeming like the corner will be turned within 60 months, 2027?

[shano1986]

Exactly what I was thinking. This is dead money with those terms.

[northmark]

I'm thinking it's a little more than just maintenance. You can't raise $3.4m if all your going to do is keep the lights on. Probably won't hear anything more detailed until after the June 28 AGM. Fingers crossed. :)

[shano1986]

This is the issue I see. Each Warrant will entitle the holder to acquire a Common Share at C$0.1075 for sixty (60) months until June 14, 2027

[Zerosum]

I'm sure a three or even two year warrant would have been alright. But it appears they needed to resolve the balance sheet issue pronto. I suspect a lean was on the company by some contractual employees. Just my speculation, no proof. Also GP comp may have been an issue. Whatever it was it was a get her done move. I here rumours some large entities have been poking around the Australian

[northmark]

Putnam actually resigned not terminated on April 18, so not sure of any compensation. Maybe he is doing the company a favour? I'm sure lots of existing miners know about Nyngan but nice to hear those rumblings of them poking around.

[Zerosum]

Apparently from a reliable NSW source connected with EMC. So whom could it be and will the view a Scandium only deposit favorabally? Or would they want a Nickle deposit with Scandium credits?

[northmark]

I assume we're discussing "Sunrise" vs "Nyngan"? Capex 1.83b vs 87m. If Scandium is the primary focus then Nyngan is the way to go. Partnering with SCY and building Nyngan would be a very cheap exercise allowing you to dip your toe in the market. 

[Zerosum]

Might be Platina or Autrillan mining take your pick. Honeybugle could get trucked to Nyngan. Sunrise has water rights that Platina does not have. But if you wanted to hedge your green economy bets maybe you would want the Nickle too even with the cap ex blow out. My bet is on Nyngan and maybe they can also recover HPA while they recover Scandium as well.

[northmark]

Nyngan is my pick as well. As far as HPA goes we need some clarification on the CMR project. I know they tell us it has been idled but I'd like to know how far along they are and does it look promising. I'm hoping for more informative updates after the AGM.