Scandium International Mining Corp 8-K, filed Apr 21, 2020
Scandium International Mining Corp. (SCYYF)
8-K
2020-04-21
For: 2020-04-21
View Original
Added on
April 06, 2026
About this 8-K
Scandium International Mining Corp filed this 8-K on April 21, 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): April 21, 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 April 21, 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.
News release dated
April 21, 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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April
21, 2020
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(Registrant)
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Edward
Dickinson, CFO
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Exhibit 99.1
NEWS
RELEASE
TSX:
SCY
April
21, 2020
NR
20-04
www.scandiummining.com
SCY RECEIVES FAVORABLE GOVERNMENT NOTICE ON NYNGAN MINING LEASE
LANDOWNER OBJECTION
Reno, Nevada, April 21, 2020 – Scandium International
Mining Corp. (TSX:SCY) (“Scandium International” or the
“Company”) advises that it has received a
favorable ‘Notice of Proposed Decision’ (the
‘Notice’) from the Deputy Secretary, Department of
Regional NSW, Division of Mining, Exploration and Geoscience
(‘the Department’). The Notice addresses recent
developments regarding resolution of a landowner objection filed in
August 2016 against the grant of a mining lease relating to the
Nyngan Scandium Project. The newly
proposed decision, if finalized, would allow all of the measured
and indicated resource included in the Nyngan Scandium Project DFS
to be reinstated in a mining lease grant.
This
Notice references new governmental findings regarding the ultimate
determination of this outstanding landowner objection, and
indicates that the Deputy Secretary now believes the objection has
failed to meet key legal tests on major portions of the affected
area, which are specifically defined. The Notice also makes clear
the advice is to be understood as a proposed decision, rather than
a final decision. The affected parties have 21 days to file further
information or arguments, at which time the Deputy Secretary will
consider those submissions and render a final decision, as soon as
practicable, on the outstanding 2016 objection.
The
content of this latest Department Notice represents a significant
reversal of prior draft findings and advice delivered to SCY, and
previously forwarded to SCY shareholders. If these findings are
upheld in final decision, the implications will clearly be positive
to ongoing development efforts on the Nyngan Project.
HIGHLIGHTS FROM LATEST GOVERNMENT ADVICE:
●
NSW
Government agencies refute prior consultant findings of a valid
objection.
●
Revised
findings would remove objections from most of the disputed
area.
●
Areas
where objection may be sustained do not coincide with established
resource.
●
The
newly proposed decision, if finalized, would allow all of the
measured and indicated resource included in the DFS to be
reinstated in a mine lease grant, and
●
A
final decision from the Deputy Secretary will not be made until a
comment period expires (May 5, 2020) and any comments have been
fully considered.
DISCUSSION:
The
Department granted a Mining Lease (‘ML 1763’) to
SCY’s Australian subsidiary, EMC Metals Australia Pty Ltd.,
in 2017. At that time it was unknown, to both the Department and
SCY, that a local landowner had filed a prior, timely, and valid
objection to the granting of that Lease.
Approximately
two years elapsed from the time the objection was initially lodged,
to the point where government staff was able to confirm the
original filing was properly submitted and represented a valid
objection. At that moment, the Secretary of the Department that
issued the Mining Lease, then became legally obligated to make a
determination as to whether the objection was valid, based on the
Law. That formal determination of validity on the landowner’s
objection has not yet occurred.
The
Company issued six news releases in 2019 on this matter, where
considerable detail can be reviewed if desired. A short summary of
key events discussed in those news releases is as
follows:
●
The Department
engaged external consultants in 2018, to give an opinion on the
validity of the landowner objection.
●
During the time
those consultants were forming their opinion on the objection, the
landowner filed suit against the Department Secretary, seeking to
have ML 1763 declared invalid. ML 1763 was declared invalid,
settling the lawsuit.
●
The external
consultants ultimately supported the landowner objection as valid,
twice.
●
The Company then
filed for and received a new Mining Lease (“ML 1792”),
which excluded surface and resource that was affected by the
objection. ML 1792 remains in effect.
During
late 2019, the Department sought confirmational opinions from
governmental agencies regarding the external consultant findings.
The Deputy Secretary engaged the NSW Department of Primary
Industry, and specifically staff from the Land Use Planning Team
with specific relevant agricultural knowledge, to review the prior
work. These government agricultural experts opined that most of the
land covered under the objection was in fact not
‘Agricultural Land’ as defined by Law, and recommended
only a small portion of specific areas under question be excluded
from a future mining lease. These most recent governmental findings
of fact are the basis for the ‘Notice of Proposed
Decision’ from the Deputy Secretary.
It is
clear that the latest investigation has been carried out by a fully
qualified team that has full State perspective and understanding of
the requirements to meet the test of the Law regarding a
determination of the landowner objection. SCY expects to have only
limited input to insert into the 21-day comment period, and looks
forward to a final and binding determination by the Deputy
Secretary, in due course.
George Putnam, CEO of Scandium International Mining Corp.
commented:
“We
are on record stating that the Nyngan Scandium Project in Australia
can be developed based on the resource we currently have secured
with our granted ML. That said, the project will definitely be
improved with a return of additional resource and access to our
east pit options for mining and optimization. It has been a lengthy
challenge to work for a reinstatement of our full resource, our
initial mine plan, and a big piece of blue sky potential in
expansion. We look forward to completing that task with government,
and again advancing our scandium project
forward.”
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 Ltd, 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.
For inquiries to Scandium International Mining Corp, please
contact:
Edward
Dickinson (CFO)
Tel:
(775) 233-7328
George
Putnam (CEO)
Tel:
(925) 208-1775
Email:
info@scandiummining.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.