SCYYF 8-K
Scandium International Mining Corp. (SCYYF)
8-K
2020-05-14
For: 2020-05-13
View Original
Added on
April 06, 2026
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): May 13, 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 May 13, 2020, Scandium International Mining Corp. issued a press
release entitled “SCY seeks copper industry partner to
demonstrate scandium, cobalt, and other critical metals recovery
technology”.
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 May 12, 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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May 13,
2020
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(Registrant)
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Edward
Dickinson, CFO
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Exhibit 99.1
SCY Seeks Copper Industry Partner To Demonstrate Scandium, Cobalt,
And Other Critical Metals Recovery Technology
RENO, NV / ACCESSWIRE / May 13, 2020 / Scandium
International Mining Corp.
(TSX:SCY) ("Scandium International" or the
"Company") is pleased to announce that it will pursue copper
industry interest in SCY ion exchange (IX) technology and knowhow
to recover scandium, cobalt and other critical metals from solvent
extraction (SX) raffinate and other acidic waste streams in certain
acid leach copper operations.
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.
CONCEPT HIGHLIGHTS:
●
IX
technology offers rapid deployment to existing Cu operation waste
streams,
●
Recoveries
target critical metals with transparent, established
markets,
●
Includes
potential for significant scandium production alongside other
products,
●
Represents
near term production sources that can address security of supply
issues, conflict metal issues, and concentrated supply source
issues, and
●
The
concept has real potential to deliver positive economic benefits to
both SCY and the established copper producers that can host this
program.
DISCUSSION
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. New, technology-driven uses for
critical metals are stressing supply channels. Traditional
jurisdiction risk concerns are now multiplied by ethical sourcing
issues, and long-term sustainability questions, all of which
elevate the interest in broader, more localized sourcing. These
issues are receiving heightened governmental and industry priority,
and metals markets customers are now seeking and favoring new,
economic, responsible solutions.
On the
basis of this dynamic critical metals opportunity, and the fact
that SCY has a significant capability to apply advanced mineral
recovery technologies to the separation of critical metals from
both ores and waste streams, the Company began a search for a North
American scandium production source. This effort immediately
recognized an attractive economic value in secondary recoveries of
other critical metals from certain copper operations, in addition
to scandium, specifically from source systems employing solvent
extraction techniques. Depending on orebody specifics, the residual
metals content in raffinate can also include economically
recoverable quantities of cobalt, nickel, additional copper, and
other valuable metals.
The
potential new revenue stream of the combined metals residual varies
by orebody, and also by the specifics of the mineral processing
systems in place, but collectively the metals basket is more
instantly marketable and shows superior economics to the solo
scandium target we had in mind at the start. This IX technology
also represents a viable precursor for direct refining cobalt,
nickel and potentially copper into high purity sulfate product
forms, as required for battery manufacture, specifically in the
electric vehicle (EV) industry.
This
SCY program is led by SCY's Chief Technology Officer, Willem P.C.
Duyvesteyn, who is the primary inventor of close to 100 US patents
and patent applications in the field of materials processing and
commercial recovery processes for base metals, specialty metals,
and chemical compounds. 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.
The
Company believes this work can be demonstrated with a working and
successful copper plant installation, with proven know-how, and
intends to pursue a copper industry partner to demonstrate the
economic viability of this technology. It is the Company's intent
to fully participate in the operation, ownership and production
economics associated with a plant asset that is developed in
concert with that partner.
SCY
shareholders should note that this new critical metals recovery
program contains a scandium component that utilizes the same
technology applied to other targeted critical metals recoveries.
This program is intended to allow SCY to benefit from early and
attractive scandium production, in addition to producing a basket
of other metals with currently established markets. The program has
the potential to generate commercial-scale scandium production from
the USA and the Americas, which produces little or no scandium
today. Early scandium production can be expected to more quickly
build the nascent scandium market globally, thus supporting the
development of the Company's Nyngan and Honeybugle scandium assets
in Australia.
George Putnam, CEO of Scandium International Mining Corp.
commented:
"The
copper industry enjoys a relatively well distributed global
production footprint. Marry that with the idea that a number of
copper orebodies have significant un-harvested critical metal
content, and we see an opportunity to tap ‘local' critical
metals sources, and more value, specifically in North America. We
are excited to pursue this opportunity, with a specific site and
producing copper partner, and make an economic demonstration for
the entire industry."
ABOUT SCANDIUM INTERNATIONAL MINING CORP.
The
Company has completed a Definitive Feasibility Study1 on its 100% owned
Nyngan Scandium Project, located in NSW, Australia, and has
received all key approvals, including a development consent and a
mining lease, necessary to proceed with project construction. The
Company is currently seeking long term sales agreements with
potential customers for scandium products, prior to finance and
construction.
The
Company retains a portfolio of minerals processing patents relevant
to base metals and specialty metals recoveries. While the primary
patent focus is fundamentally on scandium recoveries, the
associated technology and knowhow has direct application for
critical metals recoveries. In addition, the Company has done
extensive market development, application engineering and
metallurgy work with many of the world's leading companies to
accelerate the adoption of scandium into manufactured products,
some of which also utilize other critical metals as
well.
1NOTE: 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.
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.
For inquiries to Scandium International Mining Corp, please
contact:
Edward
Dickinson (CFO)
Tel:
(775) 233-7328
George
Putnam (CEO)
Tel: (925)
208-1775
Email: [email protected]
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.
SOURCE: Scandium International Mining Corp