Scandium International CEO on making end-user ready products
March 21, 2018 – “Scandium is different. We can make products that go directly to the end-user. There is a shorter supply chain and we are much more in control of that.” states George Putnam, CEO, President and Director of Scandium International Mining Corp. (TSX: SCY), in an interview with InvestorIntel’s Peter Clausi.
Peter Clausi: I have not talked to you since May. We were chatting before this and I mentioned that scandium was a rare earth. You told me I am wrong. Tell me about that.
George Putnam: Scandium is actually a light transition metal. The difference that we see is that if you are in the rare earth business you are going to make a concentrate and you are going to need a refining capability downstream to actually get your product to the end-user. Scandium is different. We can make products that go directly to the end-user. There is a shorter supply chain and we are much more in control of that.
Peter Clausi: Your CAPEX must be less than.
George Putnam: The rare earth guys tend not to own the refinery that is downstream of them. I would say it is simpler and it is more direct. That is the biggest different for scandium. It is a plus.
Peter Clausi: Right. When we talked in May you were looking at signing a couple of letters of intent and moving the projects along. You have since done that. Tell me about that.
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George Putnam: Right. We are now focused on finding customers and signing sales contracts. This is what the first start of a sales contract looks like, a letter of intent to do some study and do some work on efficacy of scandium and understand what that value is to customers. That is when we know whether they are a true customer or not. It is important to note that the LOIs represent folks we are working with who are happy to have a public disclosure. We have got two kinds of programs underway. There is another set of programs that is very secretive because the customers, the potential customers, want it to be. We can tell you what we can tell you about and we will work with either type.
Peter Clausi: Given what scandium does, one would expect the military and aerospace to be involved in some way. Scandium makes metals lighter with more strength basically.
George Putnam: Right.
Peter Clausi: You were showing me some anodized pieces yesterday.
George Putnam: Yes. We think there is a real finish advantage, an anodization finish advantage to aluminum-scandium alloys. That may be the key element that brings some customers to the table. Not strength, not other properties, anodization. That finish is so important.
Peter Clausi: It would then resist oxidization or what we like to call rust.
George Putnam: Right. It would be more durable and it would be better looking for a very long time.
Peter Clausi: Right. You have a property in Finland. You have done some work on, but the majority of your scandium would be coming out of your property in Australia…to access the complete interview, click here
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