Scandium Canada Ltd V.SCD

Preliminary Economic Assessment (PEA)

[Oregonduck]

A Bankable feasibility study is necessary. Major hurdles including Capex at $890 million and it's remote location reached only via an ice road and fixed wing planes. Currently, the Co is too small and the project is not doable.  IPG might need to rollback or consolidate its shares 1-new- for-20-old to bring its outstanding shares to 80 million, get a JV and undertake nassive financing plus loans. This will take many years. Currently, there are no primary Scandium mines in the world except for a few would-be mines in Australia and Chinese mines.

Rio Tinto is processing Ilimente ores shipped by rail and down St Lawrence River for its Quebec pilot plant to extract scandium. That might not fit with IPG's Ree ores.

[ScandiumPower]

According to IPG's company presentation the company is planning to deliver Bankable Feasibility Study until late 2023/early 2024. Meanwhile IPG will make process piloting, start environmental and other permitting processes, make additional resource drilling and execute preliminary enegineerig, and negotiate Impact Benefit Agreement. After construction period the procuction is planned to start