Best Gold Stocks of 2017 on the TSX

Looking for the best gold stocks? These TSX-listed gold companies have seen the biggest year-to-date gains so far in 2017.

The gold price dropped below $1,300 per ounce in the last quarter of the year after jumping past $1,340 in September.
As investors watch bitcoin surge, some are questioning the rationale behind investing in gold. That said, there are still many who believe that the yellow metal will shine again, and are willing to wait it out. Overall, the gold price has increased about 7.5 percent in 2017, and the best gold stocks have seen even greater gains.
The list below was generated on December 11, 2017 using the Globe and Mail’s market data filter, and it shows the TSX-listed gold companies that have seen the biggest share price gains year-to-date. Only companies with market caps above $50 million as of that date are included. You can also view our list of top-rising junior gold stocks on the TSXV by clicking here.

1. Kerr Mines (TSX:KER)

Current price: $0.30; year-to-date gain: 160.87 percent
Kerr Mines retains its first-place position on our best gold stocks list after taking the top spot in Q3. Kerr is a North American gold exploration and development company whose focus is on commencing production at its Arizona-based Copperstone gold property.
In August, the company awarded key contracts for a 2017 exploration program and feasibility study at Copperstone. The same month, Kerr also started the first phase of surface drilling at the project. Since then, Kerr has released a slew of drill results from Copperstone and has also announced a $5 million non-brokered private placement. Proceeds will be used for further exploration at the asset.

2. Kirkland Lake Gold (TSX:KL,NYSE:KL)

Current price: $16.99; year-to-date gain: 155.27 percent
Kirkland Lake Gold is a mid-tier gold company with mines in both Canada and Australia. Last year, the company merged with Newmarket Gold and acquired assets in Australia, including the Cosmo mine and Fosterville mine. Fosterville and the Ontario-based Macassa mine are the company’s key assets.
Since that time, the company has reported an increase in reserves underground from 240,000 ounces to over 1 million ounces at Fosterville alone. Kirkland Lake CEO Tony Makuch says that at Fosterville gold is produced without any by-products and with production costs just under $250 per ounce.
In August of this year, Kirkland Lake began trading on the NYSE, after which the company’s share price crossed the $15 mark for the first time. The company’s guidance for 2017 is 570,000 to 590,000 ounces of gold and it has “increased guidance already twice this year,” as per Makuch.

3. Corvus Gold (TSX:KOR)

Current price: $1.40; year-to-date gain: 154.55 percent
Corvus Gold joins our best gold stocks list for the second time this year. The exploration and development company is focused on its near-term gold-silver North Bullfrog project in Nevada. Corvus also controls a number of royalties on North American gold, silver and copper exploration projects.


Corvus has been busy drilling throughout the year. In the first half of 2017, the company put out results from North Bullfrog’s Liberator zone, Western zone and North Jolly Jane target. Since then, Corvus has acquired the Mother Lode property from Goldcorp (TSX:G,NYSE:GG) and has discovered a new lower zone at Mother Lode. Corvus has also announced an expanded mineral resource at North Bullfrog.

4. Sabina Gold & Silver (TSX:SBB)

Current price: $2.30; year-to-date gain: 131.63 percent
Sabina Gold & Silver’s principal assets are its Back River gold project and its royalty on Glencore’s (LSE:GLEN) Hackett River silver-zinc project, both of which are located in Nunavut. The company also has exploration properties in Nunavut and Ontario.
The company has been active at Back River this year, and in December said it had “reached a major milestone” at the project. According to the company, Canada’s minister of indigenous and northern affairs has issued a positive ruling that will allow Back River to commence the regulatory and licensing phase.

5. Marathon Gold (TSX:MOZ)

Current price: $1.02; year-to-date gain: 69.49 percent
Marathon Gold is currently advancing its Valentine Lake Gold Camp in Newfoundland, which hosts four near-surface, mainly pit-shell-constrained gold resources. A Q1 update increased the overall project’s measured and indicated resource by 31 percent, to 1,388,200 ounces of gold grading 1.91 g/t.
The company has drilled steadily throughout 2017, announcing an “aggressive 60,000-meter drilling program” at Valentine Lake in May. By the last quarter of the year, the company had increased Valentine Lake’s overall measured and indicated resource again; it now comes in at 1,847,000 ounces of gold at 1.88 g/t. Marathon also began trading on the OTCQX.
What do you think were the best gold stocks of 2017? Let us know in the comments below.
Don’t forget to follow us @INN_Resource for real-time news updates.
The data for this article was retrieved on December 11, 2017 using The Globe and Mail’s market data filter. Only TSX-listed gold companies with market capitalizations greater than $50 million are included.
Securities Disclosure: I, Amanda Kay, currently hold no direct investment interest in any company mentioned in this article.


This article is updated each quarter. Please scroll the top for the most recent information.

Best Gold Stocks of 2017 on the TSX
By Priscila Barrera, October 5, 2017
The gold price surged almost 3 percent in the third quarter of 2017, as geopolitical tensions prompted investors to turn to precious metals as safe-haven assets.
Gold’s future is uncertain, but factors like US President Donald Trump, the US Federal Reserve and the US dollar have many market participants anticipating further gold price increases this year. Gold stocks could rise as well — in fact, since the start of the year, many gold-focused companies have seen significant share price increases.
The list below was generated on October 5, 2017 using The Globe and Mail’s market data filter, and shows the TSX-listed gold companies that have seen the biggest share price gains year-to-date. Only companies with market caps above $50 million are included.

1. Kerr Mines (TSX:KER)

Current price: $0.32; year-to-date gain: 178.26 percent
Kerr Mines is a North American gold exploration and development company. Its focus is on commencing production at its Copperstone gold property in the US.
In August, the company awarded key contracts for a 2017 exploration program and feasibility study at Copperstone. The same month, Kerr also started the first phase of surface drilling at the project.

2. Sabina Gold & Silver (TSX:SBB)

Current price: $2.25; year-to-date gain: 129.59 percent
Sabina Gold & Silver’s principal assets are its Back River gold project and its silver royalty on the Hackett River project, both of which are located in Nunavut. The company also has exploration properties in Nunavut and in the vicinity of the Red Lake Gold Camp in Ontario.
In July, the company started an expanded second-phase drill campaign at Back River. The next month, Sabina Gold and Silver published its financial results for the quarter ended June 30. In September, the company announced the first results from its summer exploration program.

3. Harte Gold (TSX:HRT)

Current price: $0.57; year-to-date gain: 90 percent
Harte Gold is focused on the exploration and development of its Sugar Zone property in Ontario, where it has completed a 70,000-tonne, advanced-exploration bulk sample and is permitting commercial production. Harte Gold also holds the Stoughton-Abitibi property, located on the Destor-Porcupine Fault Zone adjacent and on strike to the Holloway gold mine.
In July, the company closed a $25-million bought-deal private placement. In September, it published results from a drill program at Sugar Zone.

4. Fortune Minerals (TSX:FT)

Current price: $0.21; year-to-date gain: 68 percent
Fortune Minerals expects to benefit from the development of its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The plan is for a bulk concentrate from NICO to be shipped to a planned metals processing plant in Saskatchewan. The company is positioned to become a Canadian producer of battery-grade cobalt chemicals with gold and bismuth co-products.
In August, the company provided an update on its NICO project, commenting that a feasibility study update is “proceeding well.” In September, Fortune reported another milestone toward the construction of the Tlicho all-season road to the community of Whati.

5. IAMGOLD (TSX:IMG,NYSE:IAG)

Current price: $7.53; year-to-date gain: 45.09 percent
IAMGOLD is a mid-tier miner with four operating mines on three continents. The company also has several projects at the exploration and development stages in North America, South America and Africa.
It’s been a busy quarter for the company. In July, IAMGOLD reported further high-grade results from its Monster Lake project in Quebec. The same month, the company reported an 80-percent increase in reserves at its Rosebel mine, not including Saramacca deposit. In August, IAMGOLD published its results for the quarter ended June 30; it also acquired a 19.98-percent stake in TomaGold (TSXV:LOT). In September, the company confirmed a significant gold discovery at Saramacca.
Don’t forget to follow us @INN_Resource for real-time news updates.
The data for this article was retrieved on October 5, 2017 using The Globe and Mail’s market data filter. Only TSX-listed gold companies with market capitalizations greater than $50 million are included.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.


This article is updated each quarter. Please scroll the top for the most recent information.

Best Gold Stocks of Q1 2017 on the TSX
By Priscila Barrera, July 13, 2017
The gold price surged almost 9 percent in the first three months of 2017 as geopolitical tension prompted investors to turn to precious metals. But in the second quarter prices stalled on the back of a second rate hike and a stronger US dollar.
Gold’s future is uncertain, but factors like US President Donald Trump, the US Federal Reserve and European elections have many market participants anticipating further gold price increases this year. Gold stocks could rise as well — in fact, since the start of the year many gold-focused companies have seen significant share price increases.
The list below was generated using The Globe and Mail’s market data filter, and it shows the TSX-listed gold companies that have seen the biggest share price gains year-to-date. Only companies with market caps above $50 million are included. You can also check out our list of the top-performing TSXV-listed gold stocks in Q2 by clicking here.

1. Harte Gold (TSX:HRT)

Current price: $0.61; year-to-date gain: 103.33 percent
Harte Gold is focused on the exploration and development of its Sugar Zone property in Ontario, where it has completed a 70,000-tonne advanced exploration bulk sample and is permitting commercial production for the Sugar Zone deposit. Harte Gold also holds the Stoughton-Abitibi property, located on the Destor-Porcupine Fault Zone adjacent and on strike of the Holloway gold mine.
The company has been focused on drilling at the Sugar Zone property this year, and said in June that three drill rigs were active at the site. On July 5, the company closed a $25-million private placement.

2. Sabina Gold & Silver (TSX:SBB)

Current price: $1.91; year-to-date gain: 94.9 percent
Sabina Gold & Silver’s principal assets are its Back River gold project and a silver royalty on the Hackett River project; both of those properties are located in Nunavut. The company also has exploration properties in Nunavut and in the vicinity of the Red Lake Gold Camp in Ontario.
In May, the company announced that a spring drill program had expanded mineralization at the Umwelt “Vault” zone at Back River. In June, the company provided further updates on the spring drill program.

3. Exeter Resource (TSX:XRC,NYSEMKT:XRA)

Current price: $1.93; year-to-date gain: 91 percent
Exeter’s focus is the discovery, evaluation and development of gold-copper deposits in the Americas. The company’s flagship asset, the Caspiche project, is located in Chile’s Maricunga district. Major miner Goldcorp (TSX:G,NYSE:GG) announced plans to acquire the company in April, and Exeter recently reported that it will proceed with the transaction.

4. Avnel Gold Mining (TSX:AVK)

Current price: $0.41; year-to-date gain: 76.6 percent
Avnel Gold Mining is an exploration and development company with operations in Southwestern Mali in West Africa. The company’s focus is on developing its 80-percent-owned Kalana Main project from a small underground mine into a low-cost, high-grade, open-pit mining operation. Avnel is also advancing exploration on several nearby satellite deposits on the 387-square-kilometer, 30-year Kalana exploitation permit.
The most significant Q2 news from the company came in June, when Avnel announced that it will be acquired by Endeavour Mining (TSX:EDV) for $122 million. The deal is still to be approved by shareholders, but it is expected to close in September.

5. Fortune Minerals (TSX:FT)

Current price: $0.29; year-to-date gain: 64 percent
Fortune Minerals expects to benefit from the development of its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The plan is for a bulk concentrate from NICO to be shipped to a planned metals processing plant in Saskatchewan. The company is positioned to become a Canadian producer of battery-grade cobalt chemicals with gold and bismuth co-products.
In the second quarter of the year, Fortune continued work at NICO. In April, the company announced an update on the upcoming NICO feasibility study, and in June, it reported updates in management and meeting results.
Don’t forget to follow us @INN_Resource for real-time news updates.
The data for this article was retrieved on July 10, 2017 using The Globe and Mail’s market data filter. Only TSX-listed gold companies with market capitalizations greater than $50 million are included.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.


This article is updated each quarter. Please scroll the top for the most recent information.

Best Gold Stocks of Q1 2017 on the TSX
By Priscila Barrera, April 12, 2017
The gold price surged almost 9 percent in the first three months of 2017 as geopolitical tension prompted investors to turn to precious metals as safe-haven assets.
Gold’s future is uncertain, but factors like US President Donald Trump, the US Federal Reserve and European elections have many market participants anticipating further gold price increases this year. Gold stocks could rise as well — in fact, since the start of the year many gold-focused companies have seen significant share price increases.
The list below was generated using The Globe and Mail’s market data filter, and it shows the TSX-listed best gold stocks that saw the biggest share price gains from January 1 to April 10. Only companies with market caps above $50 million are included.
You can find our list of the top-performing TSXV-listed best gold stocks in Q1 by clicking here.

1. Osisko Mining (TSX:OSK)

Current price: $5.46; year-to-date gain: 123.77 percent
Osisko Mining is focused on the acquisition, exploration and development of precious metals properties in Canada. Its assets include the Windfall Lake and Marban Block gold properties, both located in Quebec, as well as the Ontario-based Garrison gold property.
In 2017, Osisko has focused mainly on Windfall Lake and Garrison, and has released a slew of drill results from both properties. Most recently, the company intersected 19.4 g/t gold over 7.9 meters at Windfall Lake, and 45 g/t gold over 2.4 meters at Garrison. It is completing a 400,000-meter program at Windfall Lake and a 35,000-meter program at Garrison.

2. Marathon Gold (TSX:MOZ)

Current price: $1.03; year-to-date gain: 74.58 percent
Marathon Gold is currently advancing its Valentine Lake gold camp in Newfoundland, which hosts four near-surface, mainly pit-shell constrained gold resources. A Q1 resource estimate update places the property’s total measured and indicated resource at 1,388,200 ounces of gold at 1.91 g/t; its inferred resource stands at 766,500 ounces of gold at 2.24 g/t.
Like Osisko, Marathon has kept a steady stream of drill results coming in 2017. Its latest results came on March 13, when it intersected 2.92 g/t gold over 71 meters, 1.88 g/t gold over 136 meters and 2.35 g/t gold over 29 meters at Valentine Lake’s Marathon deposit. A 30,000-meter program is currently taking place.

3. Corvus Gold (TSX:KOR)

Current price: $0.88; year-to-date gain: 60 percent
Gold exploration and development company Corvus Gold is focused on its near-term gold-silver North Bullfrog project in Nevada. The company also controls a number of royalties on North American gold, silver and copper exploration projects.
Corvus has been busy drilling this past quarter as well. Since the start of 2017 the company has put out results from North Bullfrog’s Liberator zone, Western zone and North Jolly Jane target.

4. Treasury Metals (TSX:TML)

Current price: $0.78; year-to-date gain: 30 percent
Treasury Metals is a gold-focused exploration and development company with assets in Ontario. It is currently developing the Goliath gold project.
The company’s most notable Q1 release came in March, when it put out an updated preliminary economic assessment for Goliath. The new report increases Goliath’s life-of-mine gold production profile by 37 percent, and calls for average annual output of 87,850 ounces of gold.

5. Pretium Resources (TSX:PVG)

Current price: $14.46; year-to-date gain: 30.22 percent
Pretium Resources is advancing its BC-based Brucejack gold project toward construction, and is targeting commercial production this year. The primary focus at Brucejack is the Valley of Kings deposit, which has proven and probable mineral reserves of 8.1 million ounces of gold.
In March, the company announced its 2016 results, and said that the transmission line for Brucejack has been energized. Dry commissioning at the project has begun, and wet commissioning will start in April.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Featured
Kirkland Lake Gold Ltd. today announced that at a special meeting of shareholders held earlier today the Company’s shareholders voted in favour of the arrangement resolution approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company will be acquired by Agnico Eagle Mines Limited for common shares of Agnico Eagle in a merger of equals for consideration per Kirkland Share ...

Kirkland Lake Gold Ltd. (" Kirkland Lake Gold " or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that at a special meeting of shareholders held earlier today (the " Meeting "), the Company's shareholders voted in favour of the arrangement resolution (the " Kirkland Arrangement Resolution ") approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company (the " Kirkland Shares ") will be acquired by Agnico Eagle Mines Limited (" Agnico Eagle ") for common shares of Agnico Eagle (the " Agnico Shares ") in a merger of equals for consideration per Kirkland Share equal to 0.7935 of an Agnico Share (the " Arrangement ").

186,840,773 Kirkland Shares, representing approximately 70.85% of the issued and outstanding Kirkland Shares as at the record date, were voted at the Meeting. The Kirkland Arrangement Resolution was approved by 150,681,106 Kirkland Shares or approximately 80.65% of votes cast by Kirkland Lake Gold shareholders either in person or represented by proxy at the Meeting. The report of voting results will be made available under the Company's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .

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Agnico Eagle Mines Limited is pleased to announce that at a special meeting of shareholders held earlier today Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd. by way of a plan of arrangement under the Business Corporations Act . The resolution was approved by ...

Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) (" Agnico Eagle ") is pleased to announce that at a special meeting of shareholders held earlier today (the " Meeting "), Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd. (" Kirkland Lake Gold ") by way of a plan of arrangement under the Business Corporations Act ( Ontario ) (the " Merger ").

The resolution was approved by approximately 99.86% of the votes cast by Agnico Eagle shareholders at the Meeting, with a shareholder turnout of 69.62%. Detailed voting results for the resolution are as follows:

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B2Gold Corp.   is pleased to announce that its Board of Directors has declared a cash dividend for the fourth quarter of 2021 of $0 .04 per common share , payable on December 17, 2021, to shareholders of record as of December 8, 2021. All dollar figures are in United States Dollars unless otherwise indicated. As part of the long-term strategy to maximize shareholder value, B2Gold expects to declare future ...

 B2Gold Corp. (TSX: BTO) (NYSE: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that its Board of Directors (the "Board") has declared a cash dividend for the fourth quarter of 2021 of $0 .04 per common share (or an expected $0.16 per share on an annualized basis), payable on December 17, 2021, to shareholders of record as of December 8, 2021. All dollar figures are in United States Dollars unless otherwise indicated.

As part of the long-term strategy to maximize shareholder value, B2Gold expects to declare future quarterly dividends at the same level. This dividend is designated as an "eligible dividend" for the purposes of the Income Tax Act ( Canada ). Dividends paid by B2Gold to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes.

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cannabis plant layered with German flag graphic
Dmytro Tyshchenko / Shutterstock

Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

  • Organigram Holdings (NASDAQ:OGI,TSX:OGI) issued financial results for its Q4 2021 period. In its report, the company notes a net loss of C$26 million despite a 22 percent uptick in net revenue to C$24.9 million. Beena Goldenberg, the newly appointed CEO of the firm, is encouraged by the market share position earned by the company, which said it became the fourth biggest producer in Canada during the reporting period.
  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Commercially viable scandium deposits are rare, making widespread use of the metal tricky. However, there is indeed opportunity in the space.

Scandium is a critical metal that is as strong as titanium, as light as aluminum and as hard as ceramic.

While it is more abundant than lead, mercury and all the precious metals, there are no pure scandium-producing mines. The rare earth element is often a by-product, produced from refining other metals, including uranium.

Pure scandium metal rarely concentrates at higher grades alongside other metals, making commercially usable scandium deposits very rare. What's more, even when scandium is found at elevated levels, processing it can be difficult, leading to very few stable sources of this critical metal.


Not surprisingly, that means there has been very little adoption of scandium in commercial applications. However, as John Kaiser of Kaiser Research has pointed out several times in the past few years, as well as more recently, that doesn't mean there hasn't been research into how scandium could be used in the future.

"Hundreds of applications (have been) filed, many of them related to alloys with aluminum," he said in an interview with the Investing News Network. "This obscure metal is going to go ballistic in the next few years."

Kaiser made that statement a few years back, and scandium has yet to go ballistic. But he still has hope for the metal, and it could yet have its day in the sun.

Below is an overview of the scandium market. Topics covered include current production, newcomers to the space and the metal's potentially bright future.

Current scandium production

The first known large-scale scandium production was associated with Russian military programs. Details are lost to history, but Russians reportedly alloyed the metal with aluminum to make lightweight MIG fighter parts. Mining at these historic Russian production sites has ceased, but stockpiles of scandium oxide and scandium master alloy remain in Russia. These stockpiles are rumored to be dwindling, but continue to be offered for sale on the market.

Today, most scandium is produced as a by-product during the processing of other ores, such as uranium or rare earths, or recovered from previously processed tailings. As a result, scandium supply can be affected by the supply and demand dynamics of the metals it is produced with. That can make the metal's already tough-to-follow market dynamics even more difficult to understand.

According to the US Geological Survey, scandium-producing countries include China, where it is a by-product of iron ore, rare earths, titanium and zirconium; and the Philippines, where it is a by-product of nickel. Scandium is also produced as a by-product of uranium in Russia, Ukraine and Kazakhstan.

More US production could be on the horizon as well after a push in legislation that encourages the Department of Defense to look into the potential uses of the metal. Environmental and construction permits have been approved for NioCorp's (TSX:NB,OTCQX:NIOBF) polymetallic Elk Creek project with probable reserves estimated to be 36 million tonnes containing 65.7 parts per million scandium.

Scandium resources have been identified in minerals-rich regions across the world, most notably in Australia, where a number of junior mining companies are working to develop scandium deposits in New South Wales. These include Scandium International Mining (TSX:SCY), which controls the Nyngan project; Clean TeQ Holdings (ASX:CLQ,OTCQX:CTEQF), which holds the Sunrise project; and Platina Resources (ASX:PGM,OTC Pink:PTNUF), which is working on the Owendale project.

Scandium price and trading

The US Geological Survey states that the global scandium market is "small relative to most other metals." This is exemplified by global production and consumption, which is only an estimated 15 to 20 metric tons annually.

The US Department of Commerce and the International Trade Commission do not have specific data on trading for the metal. Furthermore, there is no formal buy/sell market today — scandium is not traded on an exchange and there are no terminal or futures markets.

Instead, the metal is traded between private parties, mostly at undisclosed prices and in undisclosed amounts. Therefore, understanding the precise volume of production and cost of scandium is difficult, and independent estimations are more relevant.

Production estimates are based on levels of trader activity and interest, as well as the knowledge that some traders deal in the critical metal from very small operations.

The estimates also include consumers believed to be sourcing their own scandium through small, controlled recovery operations, but don't consider amounts of the metal contained in the master alloy currently being sold from Russian stockpiles.

The scandium opportunity

Analysts expect the global scandium market to grow at a compound annual growth rate of above 11 percent between 2020 and 2025. "The major factors driving the growth of the market studied are the accelerating usage in solid oxide fuel cells, and the rising demand for aluminum-scandium alloys," notes ReportLinker.

Despite the lack of known, stable supply, scientists and engineers have been working hard to develop new products incorporating the metal. Scandium's potential in high-tech applications is well documented. Highlights of the metal's properties include:

  • It can be used in the creation of stronger, corrosion-resistant, heat-tolerant and weldable aluminum alloys for lightweight aircraft and automobiles.
  • Its outstanding electrical properties and heat resistance are valuable for solid oxide fuel cells.
  • It has unique optical properties for high-intensity lamps.

A recent Kaiser Research report on scandium details the wide variety of end uses for scandium now and into the future, as well as where potential supply to meet that demand may originate.

potential scandium oxide supply and demand

Potential scandium oxide supply and demand.

Kaiser Research

As Kaiser has explained, "There's an enormous latent demand for scandium if it ever became available on a primary, scalable basis."

In other words, the only barrier to accessing demand from a new family of high-performance aluminum materials and energy/lighting products is the lack of commercially viable larger-scale scandium production. Interestingly, Kaiser's work highlights two important scandium market events that may "have the potential to launch scandium demand growth over the next decade towards a 1,000 (tonne per annum) market worth US$2 billion."

For one, Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) announced in 2020 that it has developed a route to recovery for scandium at its Sorel-Tracy facility in Quebec, where it produces titanium slag from the Lac Tio iron-titanium deposit. In mid-2021, Rio Tinto began commercial-scale operations at its new scandium oxide production facility.

"The Rio Tinto development is a game changer for the scandium sector," said Kaiser, who believes the increase in scandium production could help boost the sector.

Secondly, Scandium International Mining filed an application in late 2019 for a patent protecting a method for recovering scandium and other metals from the waste streams of copper oxide leaching operations. In mid-2020, the company announced that copper raffinate tests showed its patent-pending process could recover enough scandium to match the supply being added to the market by Rio Tinto.

"Conditions are finally right for scandium to become the ideal lightweighting solution for aluminum," Kaiser said in his note to investors.

This is an updated version of an article originally published by the Investing News Network in 2014.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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