SCYYF 8-K
Scandium International Mining Corp. (SCYYF)
8-K
2021-06-28
For: 2021-06-28
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): June 28, 2021
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 June 28, 2021, Scandium International Mining Corp. issued a
press release entitled “Scandium International and Nevada
Gold Mines Sign LOI to Pursue Critical Metals Recovery at Phoenix
Mine”.
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 June 28, 2021.
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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June
28, 2021
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(Registrant)
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Edward
Dickinson, CFO
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Exhibit
99.1
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SCANDIUM INTERNATIONAL AND NEVADA GOLD MINES SIGN LOI TO PURSUE
CRITICAL METALS RECOVERY AT PHOENIX MINE
Reno, Nevada, June 28, 2021 – Scandium International
Mining Corp. (TSX:SCY) (“Scandium International” or the
“Company”) and Nevada Gold Mines (“NGM”), have signed a
Letter of Intent (“LOI”) to initiate a joint
technical and economic feasibility program at NGM’s Phoenix
Mine, near Battle Mountain, Nevada. The purpose of this joint
development program is to confirm the economic and technical
viability of a critical metals recovery (“CMR”) project at the mine
site. The LOI defines a detailed US$2.7 million spend program which
includes bench test work, pilot plant testing, and feasibility
study design work. The program is anticipated to require 15 months
to complete. With program completion, the partners intend to take
an investment decision on construction and operation of a plant
facility to recover critical metals from mine solutions. The LOI
also outlines key parameters of a partnership, including formation
of a joint venture to hold the plant facility, and a 50:50
ownership in the recovery circuit asset.
The
project is envisioned as an ion-exchange recovery system, capturing
critical metals that are currently recirculating in heap leach
copper solutions at Phoenix, specifically targeting nickel, cobalt,
scandium, zinc and potentially other metals that prove to be
economically recoverable.
This
CMR project, and other similar projects in development, have the
potential to produce material quantities of strategically important
metals, tailored to today’s tech-driven products, and can do
so from a distributed global copper production base. The
environmental impact from this production process is minimal
– no new mines are required. From a copper industry
standpoint, this CMR process can effectively increase mine
valuations, can effectively extend mine/reserve life at current
production rates, and will result in cleaner tailings, potentially
lower ongoing environmental management costs, and lower final
reclamation expense.
The
Phoenix Mine is a gold-copper producer owned and operated by Nevada
Gold Mines. The mine produces a copper/gold concentrate, copper
cathode and gold dore. Nevada Gold Mines assets in Nevada represent
the single largest gold-producing complex in the
world.
HIGHLIGHTS:
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LOI
signed between SCY and NGM, defining a development program for
CMR.
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Program
designed to confirm technical feasibility and economic recovery of
critical metals from heap leach solutions at Phoenix
Mine.
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LOI
outlines a multi-step development program, totaling US$2.7M spend,
and 15 months to complete, including an on-site pilot
plant.
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LOI
further outlines 50:50 JV partnership, if parties agree to
construct an onsite recovery circuit to produce a series of metal
concentrates. The refinery circuit would be located off-site from
the Phoenix Mine and 100% owned and operated by SCY
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Metals
targets include nickel, cobalt, scandium and zinc, possibly
others.
George Putnam, CEO of Scandium International Mining Corp.
commented:
“Quality partners are an essential ingredient in shared
projects. That noted, we are genuinely pleased to be working with
NGM and the Phoenix Mine team, to demonstrate the technology and
economic viability of a CMR project in the copper business. We look
forward to achieving a profitable, reliable, repeatable success
with this project, and one that focusses directly on the priority
of North American sourcing of critical metals tailored for
technology-driven applications in transportation and
communications.”
Nevada Gold Mines, Executive Managing Director, Greg Walker
commented:
“We are excited to begin working with our partner, Scandium
International Mining Corp., on finding ways to extract critically
important minerals for the future of the United States, furthering
the country’s ambitions to become a leader in the green
economy. In addition, this partnership aligns with our vision to
protect Nevada’s environment not only for today, but for
future generations.”
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 Company filed a NI 43-101
technical report in May 2016, titled
“Feasibility Study – Nyngan Scandium
Project.” The project has received all key approvals,
including a development consent and a mining lease, necessary to
proceed with project construction.
The
Company is also currently pursuing CMR opportunities with various
copper industry groups, where SCY proposes to employ ion exchange
technology to extract unrecovered critical metals from existing
mine process streams. This program represents a fast-track concept
to make battery-grade nickel and cobalt products, scandium master
alloy product, and other critical metals, from North American
sources. The Company is similarly pursuing high-purity alumina
opportunities, both in conjunction with CMR where that is possible,
and also independently as a stand-alone project.
For inquiries to Scandium International Mining Corp, please
contact:
Edward Dickinson (CFO) George Putnam (CEO)
Tel:
(775) 233-7328 Tel: (925) 208-1775
Email:
[email protected]
ABOUT NEVADA GOLD MINES
Nevada
Gold Mines is operated by Barrick Gold Corporation (NYSE:GOLD) and
is a joint venture between Barrick (61.5%) and Newmont
(38.5%).
For inquiries to Nevada Gold Mines, please contact:
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Catherine Raw
COO, North America
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Greg Walker
Executive Managing Director
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Kathy du Plessis
Investor and Media Relations
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Barrick Gold Corporation
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Nevada Gold Mines
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Barrick Gold Corporation
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Tel: +1 416 307 5157
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Tel: +1 702 526 3194
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Tel: +44 20 7557 7738
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Email: [email protected]
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Email: [email protected]
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Email: [email protected]
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Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this
press release, including any information as to the Company’s
and Barrick Gold Corporation’s (“Barrick”)
strategy, projects, plans or future financial or operating
performance, constitutes “forward looking statements”.
All statements, other than statements of historical fact, are
forward-looking statements. The words “pursue”,
“anticipate”, “intend”,
“partnership”, “opportunity”,
“envision”, “potential”, “can”,
“will”, “ambition”, “become”,
“vision”, “expect”, “could”,
“would” and similar expressions identify
forward-looking statements. In particular, this press release
contains forward-looking statements including, without limitation,
with respect to: the Company and its business and the potential for
the Company to develop a critical metals recovery project at
NGM’s Phoenix mine pursuant to the LOI; the potential
economic and environmental benefits of this project for NGM and its
applications in transportation and communications; and the
potential for the project at the Phoenix mine to demonstrate the
technology and economic viability of CMR in the copper
business.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions including material estimates and
assumptions related to the factors that, while considered
reasonable by the Company and Barrick as at the date of this press
release in light of management’s experience and perception of
current conditions and expected developments, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in
the forward-looking statements and undue reliance should not be
placed on such statements and information. These risks,
uncertainties and other factors include, without limitation: risks
related to uncertainty in the demand for nickel, cobalt, scandium,
zinc and potentially other metals including scandium alloys and
other products produced using the Company’s proprietary
technologies such as HPA, the possibility that results of test work
will not fulfill expectations, or not realize the perceived market
utilization and potential; risks associated with projects in the
early stages of evaluation and for which additional engineering and
other analysis is required; diminishing quantities or grades
of reserves; increased costs, delays, suspensions and technical
challenges associated with the construction of capital projects;
operating or technical difficulties in connection with mining or
development activities, including geotechnical challenges and
disruptions in the maintenance or provision of required
infrastructure and information technology systems; and failure to
comply with environmental and health and safety laws and
regulations. In addition, there are risks and hazards associated
with the business of mineral exploration, development and mining,
including environmental hazards, industrial accidents, unusual or
unexpected formations, pressures, cave-ins, flooding and gold
bullion, copper cathode or gold or copper concentrate losses (and
the risk of inadequate insurance, or inability to obtain insurance,
to cover these risks).
Many of these uncertainties and contingencies can affect our actual
results and could cause actual results to differ materially from
those expressed or implied in any forward-looking statements made
by, or on behalf of, the Company and Barrick. Readers are cautioned
that forward-looking statements are not guarantees of future
performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40 F/Annual
Information Form of the Company and Barrick on file with the SEC
and Canadian provincial securities regulatory authorities for a
more detailed discussion of some of the factors underlying
forward-looking statements and the risks that may affect the
Company’s and Barrick’s ability to achieve the
expectations set forth in the forward-looking statements contained
in this press release. We disclaim any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law