Scandium International Mining Releases Feasibility Study for Nyngan Scandium Project

Scandium International Mining (TSX:SCY) has announced results of a definitive feasibility study for its Nyngan scandium project in New South Wales, Australia. The project is 80 percent owned by Scandium International.
As quoted in the press release, highlights included:

• Capital cost estimate for the Project is US$87.1 million,
• Operating cost estimate for the Project is US$557/kg scandium oxide,
• Oxide product volume averages 37,690 kg per year, over 20 years,
• Project Constant Dollar NPV_10% is US$177 million, (NPV_8% is US$225 million),
• Project Constant Dollar IRR is 33.1%,
• Oxide product grades of 98-99.9%, as based on customer requirements,
• Project resource increases by 40% to 16.9 million tonnes, grading 235ppm Sc, at a 100ppm cut-off in the measured and indicated categories, and
• Project Reserve totalling 1.43 million tonnes, grading 409ppm Sc was established on part of the resource.

Scandium International CEO, George Putnam, said:

The Company is pleased with this very solid feasibility study result, and with the quality of the development work it represents.  We now have a project plan we can execute on, and a considerably more mature development schedule on which to seek additional scandium customers.  We also now have what we believe to be a financeable platform with which to engage in construction funding discussions.  This accomplishment brings us a significant step closer to building the Nyngan Project and producing scandium for what we know to be numerous waiting markets.

Click here for the full press release.