Putnam on Scandium International being debt free and the rising global interest in scandium
September 8, 2015 — In a special InvestorIntel interview, Publisher Tracy Weslosky, speaks to George Putnam, President, CEO and Director for Scandium International Mining Corp. (TSX:SCY) on their recent raise, being debt free and the advantages in gaining a 20% financial partner in the project. Further conversation includes, the rising global interest in scandium and how new supply sources may facilitate a real game changer for the aluminum alloy industry.
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Tracy Weslosky: George, I want to start by congratulating you. In very challenging market conditions you’ve managed to raise money. Let’s start with your news release just recently put out about how you’ve raised money.
George Putnam: Sure. Well, at the beginning of this week on Monday (August 24, 2015) we put out a press release that indicated we’d raised $2.1 million Canadian at $0.10 a share. We’re very pleased to announce to the markets that we did that, but even as important as that, this raised completed a milestone that we have been working on for some time in that it converts a debt to an equity shareholder interest with a partner. The company is now debt free and has a 20% financial partner in the project. We welcome Scandium Investments LLC, we call them SIL, into the project. Excited to have them there and they’re excited to be with us in the project. We also, in this press release, announced a very strong new board member addition to the Scandium board in Andrew Greig. He’s former director and Senior VP of Bechtel, which is the worldwide engineering firm that everybody knows. He’s a wonderful addition to the board right at the right time as we go into our development of our project. Happy to have Andy with us now. The other element to that press release, of course, was that we told the markets what we were doing next with the funding and that is getting started on our definitive feasibility study for Nyngan.
Tracy Weslosky: Well, I just finished speaking with Jack Lifton. I think Jack’s quote was, “I’ve been very skeptical over scandium for the last 50 years, but now I am bull on scandium.” In fact, he’s planning on speaking about the whole supply chain of technology metals at our upcoming technology metals summit (click here). He is, again — very bull on scandium. In fact, now quite a number of people seem to be right now. George, you’ve been holding the flag for scandium for many years now. Can you tell us why all of a sudden it seems like everybody is talking about scandium?
George Putnam: I’m not as interested in why as I am excited to find other people in the tent with us. We have been believers, as you point out, for a number of years. It’s a very interesting element. It’s not a new element, but it’s one that’s got the world in front of it in terms of applications and uses. We all know what scandium can be used for and when there’s a reliable secure supply at reasonable prices it going to be taken up aggressively. Jack, welcome into the tent with us. We’re happy to have you.
Tracy Weslosky: Of course, now scandium, we have been discussing how the uses with renewable energy technology, fuel cell technology, but I understand that you like the use of scandium in aluminum alloys….to access the rest of this interview, click here
Disclaimer: Scandium International Mining Corp. is an advertorial member of InvestorIntel.