Scandium International Mining Corp 8-K, filed Feb 28, 2020
Scandium International Mining Corp. (SCYYF)
8-K
2020-02-28
For: 2020-02-27
View Original
Added on
April 06, 2026
About this 8-K
Scandium International Mining Corp filed this 8-K on February 28, 2020, reporting on events of February 27, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): February 27, 2020
SCANDIUM INTERNATIONAL MINING CORP.
(Exact
name of registrant as specified in its charter)
000-54416
(Commission
File Number)
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British Columbia,
Canada
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98-1009717
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(State
or other jurisdiction of incorporation or
organization)
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(IRS
Employer Identification No.)
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1430 Greg Street, Suite 501, Sparks, Nevada, 89431
(Address
of principal executive offices)(Zip Code)
(775) 355-9500
Issuer’s
telephone number
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act.
Item
7.01 Regulation FD Disclosure.
On February 2, 2020, Scandium International Mining Corp. issued a
press release entitled “SCY Announces Joint Program with ECK
Industries to Demonstrate Impacts of Cerium and Scandium Additions
in Aluminium Alloys”.
A copy of the press release is attached to this report as Exhibit
99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the
information in this report, including the exhibit attached hereto,
shall not be deemed “filed” for purposes of Section 18
of the Securities Exchange Act of
1934, as amended (the
“Exchange Act”), nor shall such information be deemed
incorporated by reference in any filing under
the Securities Act of
1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.
Item
9.01 Financial Statements and
Exhibits.
The
following Exhibit relating to Item 7.01 is intended to be furnished
to, not filed with, the SEC pursuant to Regulation FD.
99.1
News release dated February 27, 2020.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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Scandium International Mining Corp.
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Date:
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February
27, 2020
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(Registrant)
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Edward
Dickinson, CFO
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Exhibit 99.1
NEWS
RELEASE
TSX:
SCY
February
27, 2020
NR
20-03
www.scandiummining.com
SCY Announces Joint Program With ECK Industries To Demonstrate
Impacts Of Cerium And Scandium Additions In Aluminum
Alloys
Reno, Nevada, February 27, 2020 – Scandium
International Mining Corp.
(TSX:SCY) (“Scandium International” or the
“Company”) is pleased to announce it has signed
a Program Agreement with Eck Industries (“ECK”) located in
Manitowoc, Wisconsin, to pursue novel alloy development of a
combined cerium-scandium aluminum alloy, based on previous work
done independently by the companies in this area.
The
companies intend to pursue alloy refinements in both wrought and
cast alloy applications, specifically targeting property
improvements related to strength, corrosion resistance, and
heat-working tolerance, principally in A5000 series
alloys.
PROGRAM HIGHLIGHTS:
●
Joint
economic and technical support to alloy design,
●
Joint
sharing of previous data, and new data produced from this
program,
●
Samples
production for customer trials, either as cast products, or wrought
sample shapes for various potential customers and alloy
manufacturers,
●
Initial
high value application expected to be in marine applications,
and
●
Program
work is protected by existing patent applications filed by
ECK,
DISCUSSION
Eck Industries has been working both independently and with the
Critical Materials Institute, a Department of Energy Program that
brings together four national laboratories, seven universities and
ten industrial partners to remove impediments to the
commercialization of clean energy technologies to develop A5000
series aluminum alloys with cerium additions, predominantly for
shape-casting applications, reflecting Eck’s core
manufacturing business. This work is covered by patents and patent
applications, and has demonstrated novel alloy compositions that
are superior in terms of heat-working tolerance, well beyond
typical aluminum castable alloy performance. Key results have been
previously publicly disclosed by Eck.
SCY has been working for a number of years to develop A5000 series
aluminum alloys with scandium additions, predominantly for wrought
sheet and extrusion applications, to support use in aerospace,
automotive and marine applications.
SCY and ECK have recognized, after comparing data, that cerium and
scandium both improve similar properties in A5000 series (magnesium
family) alloys, but they do so in different ways and to differing
degrees, and they are typically additive in combination. This has
led the two companies to recognize that the target property
improvements we were each seeking could potentially be reached
through combinations of these additives and combination of our
respective R&D programs. The companies initially formed an
association through a letter of intent in 2018, founded on interest
in scandium for cast alloy applications. This current program
represents a maturation of the thinking around how well cerium and
scandium can be combined to both improve strength and improve
properties beyond thresholds that effectively limit aluminum alloy
use today. These improvements are now recognized as potentially
applicable in all forms of aluminum alloy use; cast, wrought, and
extrusion.
George Putnam, CEO of Scandium International Mining Corp.
commented:
“This
is a truly exciting program because it investigates the synergistic
impact of two winning alloy additives for aluminium, and shows
every promise of breaking boundaries in important areas. These
alloys won’t make challenging production demands on alloy
producers, and we see numerous high volume existing applications
where they can represent a better, property-driven, alloy
choice.”
David Weiss, VP Engineering & Technology, Eck Industries Inc.
commented:
“We
have been pursuing scandium as an alloy additive almost as long as
we have been pursuing cerium. Cerium has proven to be a really
novel change in the casting space, and scandium represents a
powerful enhancement to that change. This program brings us an
expanded understanding of scandium behavior, but also more tightly
aligns us with a group that has scandium market understanding that
extends well outside our traditional casting
environment.”
ABOUT ECK INDUSTRIES INC.
Eck
Industries Inc. was founded in 1948 (as Eck Foundries) to service
orders from Harley-Davidson, Wisconsin Motors, West Bend Outboard
and Johnson Motors. Today
Eck Industries operates a 210,000 sq. ft. facility with over 250
employees, and 110 customers, shape-casting commercial aircraft
parts, automotive and trucking cast parts, military drivetrain
casings, marine propulsion system castings, and military aerospace
components.
Eck is
known in the casting industry as an innovator. They employ over
seven different molding techniques, including gravity feed,
precision low pressure systems, permanent mold casting, and direct
squeeze casting.
ABOUT SCANDIUM INTERNATIONAL MINING CORP.
The
Company is focused on developing its Nyngan Scandium Project,
located in NSW, Australia, into the world’s first
scandium-only producing mine. The project owned by our 100% held
Australian subsidiary, EMC Metals Australia Pty Limited, has
received all key approvals, including a mining lease, necessary to
proceed with project construction.
The
Company filed a NI 43-101 technical report in May 2016, titled
“Feasibility Study – Nyngan Scandium
Project”. That feasibility study delivered an expanded
scandium resource, a first reserve figure, and an estimated 33.1%
IRR on the project, supported by extensive metallurgical test work
and an independent, 10-year global marketing outlook for scandium
demand.
Willem
Duyvesteyn, MSc, AIME, CIM, a Director and CTO of the Company, is a
qualified person for the purposes of NI 43-101 and has reviewed and
approved the technical content of this press release on behalf of
the Company.
Edward
Dickinson (CFO)
Tel:
(775) 233-7328
George
Putnam (CEO)
Tel:
(925) 208-1775
Email:
info@scandiummining.com
For inquiries to Eck Industries, Inc., please contact:
David
Weiss (VP Engineering/Technology)
Tel:
(920-682-4618 )
Email:
david.weiss@eckindustries.com
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements
that are not historical facts and include, but are not limited to
statements regarding any future development of the project. The
forward-looking statements in this press release are subject to
various risks, uncertainties and other factors that could cause the
Company's actual results or achievements to differ materially from
those expressed in or implied by forward looking statements. These
risks, uncertainties and other factors include, without limitation:
risks related to uncertainty in the demand for scandium, the
possibility that results of test work will not fulfill
expectations, or not realize the perceived market utilization and
potential of scandium sources that may be developed for sale by the
Company. Forward-looking statements are based on the beliefs,
opinions and expectations of the Company's management at the time
they are made, and other than as required by applicable securities
laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or
expectations, or other circumstances, should change.