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Peter Cashin of Imperial Mining talks about scandium’s importance and the need for domestic supply

In this InvestorIntel interview with host Byron W King during PDAC 2022, Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) President and CEO Peter Cashin talks about the growing recognition and demand for scandium in specialized manufacturing, and the need for securing a reliable domestic supply.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Peter describes the importance of scandium as an industrial metal: “As an alloy agent for aluminum in very, very small quantities of 0.2 to 0.4 percent you can increase the the mechanical properties of the alloy by 800%.” Peter also talks about the importance of scandium, used in defense, aerospace and automotive industries where strong, lightweight, heat and corrosion resistant metals are needed.

Peter goes on to say that only 35 tons of scandium are produced a year, mostly by Russia and China, but Imperial Mining – which just published a new PEA on its Crater Lake TG Zone Scandium-Rare Earth Element (Sc-REE) deposit – is located in Quebec, Canada. “We know that the consumers both in the the military establishment, the automotive industry and the aerospace industry have been looking for this stuff… and our intention is to produce and develop this thing to production to be able to satisfy the western and certainly North American manufacturing market.”

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About Imperial Mining Group Ltd.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.

To learn more about Imperial Mining Group Ltd., click here

Disclaimer: Imperial Mining Group Ltd. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




Peter Cashin on the “earth shattering” PEA for Imperial Mining’s Crater Lake Scandium-REE deposit

In this InvestorIntel interview with host Tracy Weslosky during PDAC 2022, Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) President and CEO Peter Cashin talks about the company’s recent PEA announcement, which confirms that its Crater Lake TG Zone Scandium-Rare Earth Element (Sc-REE) deposit has “the potential to be a long-term provider of critical Scandium and magnet Rare Earths to world markets.”

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Peter discusses how with the new PEA “people will look at the financial metrics of this project, and they they stand up against any project that’s out there currently.” He talks about the results of the new PEA, which include a pre-tax net present value (NPV) of $2.97 billion with a pre-tax internal rate of return (IRR) of 42.9%, with annual net revenues averaging $608 million from the sale of high-purity scandium oxide (Sc2O3), scandium-aluminum Master alloy (ScAl) and rare earth element (REE) hydroxide concentrate, and a pre-tax capital payback of 2.5 years from the start of production.

Peter also talks about the importance of scandium, used in defense, aerospace and automotive industries where strong, lightweight metals are required, and when added to other metals in small amounts it makes them heat and corrosion resistant. Its lightness makes it an attractive “green” metal reducing vehicle weight for lower fuel consumption. “What we’ll ultimately end up doing is significantly reducing the carbon footprint of most manufactured platforms they have right now.”

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About Imperial Mining Group Ltd.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.

To learn more about Imperial Mining Group Ltd., click here

Disclaimer: Imperial Mining Group Ltd. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




Byron King and Jack Lifton discuss Scandium’s bright future with Peter Cashin of Imperial Mining

In this episode of Critical Minerals Corner, Jack Lifton and Critical Minerals Corner Co-Host & InvestorIntel Columnist Byron King are joined by Peter Cashin, President and CEO of Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) to discuss “miracle metal” scandium and how Imperial Mining is positioned to become the “largest scandium producer in the world…”

Byron King pointed out that Russia is one of the primary sources of scandium, and he went on to highlight the supply chain concerns for scandium because of the current Ukraine-Russia conflict and sanctions against Russia. Speaking about the lack of sustainable supply of scandium, Peter Cashin went on to provide an update on Imperial Mining’s Crater Lake Scandium‐REE Project in Québec. Peter also provided an update on Imperial Mining’s collaboration with Eck Industries to prototype a scandium-aluminum battery box for a global automotive manufacturer.

To access the complete episode of this Critical Minerals Corner discussion, click here




Is Imperial Mining Group the real scandium play?

When I first started looking into scandium, I found out that it was used in bicycle frames, aluminum alloy baseball bats and some fishing rods, which was good enough for me to be interested. However, improving the strength, corrosion resistance, and reducing the weight of those items isn’t going to raise an eyebrow at COP26 nor is it likely to dramatically improve demand for scandium. That’s why it probably makes more sense to talk about how a scandium-aluminum alloy is used in weight reduction applications in the high volume automotive, aerospace, fuel cell, and defense sectors. In fact, scandium can reduce our carbon footprint by making commercial aircraft and vehicles lighter and more fuel efficient thus lowering emissions. In EVs, scandium is used in light weighting vehicle components to extend battery range and improve fuel cell efficiency. Airbus SA has patented scandium-aluminum alloys for welding of aircraft structures in place of rivets for assembly, which reduces weight by 20%. With all the bad press emissions from air travel have gotten the last couple of days out of Glasgow, this could become a very important issue for the future of plane manufacturers.

Now that we’ve determined scandium is a good thing and could possibly be on the upswing as a commodity in demand, perhaps we’ll discuss a North American source given that there isn’t a whole lot to choose from currently. Scandium is a moderately abundant element, although it tends to be spread out throughout the earth rather than concentrated in a few places. Currently, in North America, the only notable possible production comes as a by-product of planned niobium mining at NioCorp Developments Ltd.’s (TSX: NB) Elk Creek project in Nebraska. This makes the Crater Lake scandium-REE project of Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) a unique find. It’s the only hardrock scandium deposit in the world and happens to be in the mining friendly jurisdiction of Quebec, close to hydroelectric capacity and Quebec’s aluminum metal production where 90% of Canada’s “Green” aluminum is produced. That’s already a lot of boxes ticked and we haven’t even gotten into the grades of the Crater Lake project.

But first a little about Imperial Mining Group. Imperial is a Canadian mineral exploration and development company focused on the advancement of its Crater Lake scandium-Rare Earth property. The company is led by an experienced team of mineral exploration and development professionals, who have  a strong track record of mineral deposit discovery in numerous metal commodities. The Company also has a pair of gold prospects, Opawica and La Ronciere all in Quebec.

As for the Crater Lake project, in September Imperial received the inaugural NI 43-101 Technical Report for the Crater Lake TG Zone Mineral Resource Estimate.

Source: Imperial Mining Group Ltd. press release Sep 23, 2021

The results of the Resource Estimate for the Northern Lobe of the TG Zone far exceeded the minimum threshold resource Imperial internally set for a 20-25-year notional mining operation, based on a 10 million ton lift. And the good news is that mineralization remains open laterally and at depth, demonstrating the potential to increase the mineral resource with additional drilling. Imperial will soon commence work on an NI 43-101 Preliminary Economic Assessment (PEA).

Another strategy that sets Imperial apart is that it is actively collaborating with partners to further the development of strategic scandium marketing activities to projects that require important weight and carbon footprint reductions. A great example is their work with Eck Industries to begin prototyping components while concurrently looking to maximize weight savings for the transportation sector. They recently showed that the material properties for EV battery box requirements, as specified by a major North American automotive manufacturer, have been met or exceeded. Last month the Company was awarded, along with its partner FusiA Groupe, C$2.6 million for a scandium-aluminum material R&D project. The project will focus on the industrialization and the development of a vertically integrated supply chain for a scandium-aluminum alloy for 3D printing. I’m impressed by the fact that Imperial is increasing the awareness and demand for their product before they’ve put their project into commercial production.

Unless you’ve been living under a rock for the last few months, we all know the impact that the interruption of supply chains has had on virtually everything. The manufacturing world is learning the hard way that it might be time to “on-shore” critical parts of their supply chain if they want to complete their product manufacturing, let alone compete. So, to be one of the best grade scandium resources in the world and be located on mining friendly, North American, soil means we should all probably pay a little closer attention to Imperial Mining.




Peter Cashin on Imperial Mining’s high-recovery extraction process for rare earths and scandium

In a recent InvestorIntel interview, Tracy Weslosky speaks with Peter Cashin, President, CEO and Director of Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) about Imperial’s recent milestones including their new high-recovery extraction process for rare earths and scandium. Additionally, they discuss Imperial’s recent news around their collaboration with Eck Industries to develop scandium-modified aluminum alloys.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Peter went on to say that Imperial is not just a scandium play as its Crater Lake Project has a diversified commodity base with significant quantities of rare earths and niobium. He also provided an update on the latest drill results from Crater Lake and added that Imperial Mining’s objective is to create a sustainable scandium supply chain.

To watch the full interview, click here

About Imperial Mining Group Ltd.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.

To learn more about Imperial Mining Group Ltd., click here

Disclaimer: Imperial Mining Group Ltd. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete. 

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation.  Forward-looking statements are based on the opinions and assumptions of management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on www.Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please email info@investorintel.com.




Rare earths and scandium drill results at Imperial’s Crater Lake continue to ‘exceed all expectations’

As electric vehicle (EV) manufacturers focus on achieving great energy efficiency and range lightweighting using a scandium-aluminum alloy continues to gain traction. By lowering a vehicle’s weight the range can either be improved or if kept the same the cost can be reduced by using fewer batteries.

Scandium oxide demand has potential to rise from 175 tpa to 5,000-10,000 tpa if lightweighting is adopted widely across the EV sector

Source: Imperial Mining company presentation

Scandium junior miner Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) (“Imperial”) 100% owns the Crater Lake Scandium-REE Project in northeastern Quebec, Canada. The Project has a large 6km diameter complex host to high-grade scandium and some rare earths deposits. Drilling has defined a mineralized zone of over 600m in total strike length and from surface to a vertical depth of up to 200m. Scandium oxide drill result grades have ranged from 0.0235% to 0.056% (235-506 g/t) which makes the resource look potentially to be commercially viable, as viable scandium grades are typically >200-300 g/t. There is also a parallel niobium target showing grab assay results of between 0.20% and 1.42% Nb2O5 which sits 250m west of the scandium target.

Scandium is best known for increasing the strength and hardness of aluminum and is therefore used commercially for lightweighting in the automotive industry, space industry, for fuel cells and defense applications. Niobium is used mostly in the steel industry to significantly increase steel strength, resulting is less steel required and overall cost savings.

Announced on April 28, 2021, recent drill results at Crater Lake included results of 92.5 m @ 291g/t scandium oxide (Sc2O3). Elevated levels of total rare earth oxides plus yttrium of up to 0.42% were also found. Imperial stated in the release that “at a gold price of $1,750US/oz and a scandium oxide price of $1,250US/kg, the intersections represent a gold-equivalent value of 6.5 to 8.0 g/t Au”,  Imperial’s President and CEO Peter Cashin stated:

“The winter drilling results for the Crater Lake property continue to exceed all expectations….. mineralization has been traced by drilling over 600m in total strike length from surface to a vertical depth of up to 200m. Importantly, the zone appears to get wider and higher grade with depth.

Imperial Mining’s Crater Lake Scandium-REE Project in northeastern Quebec, Canada

Source: Imperial Mining corp. website

Further drill assay results announced on May 27, 2021, included an intercept of 111.9 m @ 298 g/t Sc2O3. Elevated levels of total rare earth oxides plus yttrium (TREO+Y) of up to 0.38% were also found across the scandium-bearing horizon. Given current high prices for the magnet rare earths such as neodymium, praseodymium, dysprosium, the rare earth oxides found should help boost the projects by-products and hence project economics. The current drilling program is now completed with a total of 14 drill holes having tested the TG Zone.

Next steps and business strategy

Imperial will now undertake a 43-101 preliminary Resource Estimate of the TG zone for delivery in June 2021. Imperial’s strategy is to become a producer of scandium and valuable rare earths using simple process recovery methods. Imperial would like to be a scandium disruptor and to capture market share. Over time the Company’s goal is to move downstream to deliver high-margin scandium-aluminum alloy products for the automotive, aerospace, defense and fuel cell sectors. The Project’s location in Canada’s aluminum capital of Quebec should also lead to further market opportunities.

One such opportunity has already emerged with Eck Industries (“Eck”) with a letter of intent (“LOI”) to develop scandium-modified aluminum alloys for transportation, defense and aerospace markets. The research work will be directed towards developing a novel scandium-enhanced version of the currently commercially available 535 Aluminum which Eck uses for a wide array of applications. The initial scope of work will include casting and testing of various compositions as well as characterization of the finished alloys.

Closing remarks

Imperial is still in the early stages of proving up a resource. But given scandium at economic grades is rare the Company is doing very well by finding good grade scandium and valuable rare earths. The Resource estimate is a significant near term catalyst, which would typically be followed by a Preliminary Economic Assessment (PEA) or PFS.

All of this is ahead, so given the current market cap of just C$29 million, investors with a long-term time frame can have a chance at a potentially big reward if all goes well. The usual risks of junior miners also apply.




Betting on scandium-aluminum lightweighting to take off, Imperial Mining Group is set to benefit from EV market demand

Imperial Mining Group Ltd. (TSXV: IPG | OTCQB: IMPNF) is an early stage scandium junior miner (also with two prospective gold properties) in Quebec hoping to cash in on the move towards scandium-aluminum alloys for lightweighting of vehicles such as spacecraft, airplanes, and especially electric vehicles (EVs).

Scandium is still not widely used due to limited supply and scandium being expensive. This means the scandium supply chain is minimal as the industry has not yet grown. The current global scandium supply is only about 35 tonnes pa of scandium oxide. Demand is forecast to boom to as high as 1,800 tonnes pa by 2035 (Bloomberg forecast, 2018). If that were to happen, it would mean a 51-fold increase in scandium demand over the next 15 years. Interestingly the 2020 Bloomberg forecast for electric vehicles is for them to rise from 2.2M in 2019 to ~54M by 2040. That would be a ~25-fold increase. So clearly the EV boom has the potential to be a strong driver of scandium demand if scandium-aluminum lightweighting becomes widely adopted.

Another estimate of the impact of surging EV sales on the potential demand for scandium

Source: Imperial Mining Group investor presentation

A major issue with EVs is getting their purchase price down which should lead to mass adoption this decade. If an EV weighs less then it can use a smaller battery to get the same range, thereby lowering the EVs cost. Looking ahead this decade if scandium-aluminum alloys become much more widely used, this should lead to a virtuous cycle of cheaper scandium as supply expands and far greater scandium use.

The airline industry and the space industry are other examples where lightweighting becomes vitally important to reduce fuel costs.

This brings us back to Imperial Mining Group, which has one of the lowest market caps (currently C$25M) of all the junior scandium miners as shown below.

Scandium junior miners market cap comparison as of early March 2021

Source: Imperial Mining Group investor presentation

The Crater Lake Scandium-REE Property/Project

Imperial Mining’s focus is on the development of its high-quality scandium-REE Crater Lake Property in northeastern Quebec, Canada. The 100% owned property consists of 57 contiguous claims covering 27.8km2. It has a large 6km diameter complex host to high-grade scandium and niobium deposits. Imperial Mining is currently working to expand the resource.

Previous drilling has defined a mineralised zone of over 250m in strike and 170m in depth. Scandium oxide grades ranged from 0.0235% to 0.0319% (235-319 g/t), which is good. Commercially viable grades (>200-300 g/t) of scandium are very rare. Early drill results included 528 g/t scandium oxide over 8.8m.

2020 TG Zone drilling intersected intervals grading up to 253 g/t Scandium Oxide (Sc2O3) over 29.14 m. These are again very good drill results. Imperial Mining stated in Nov. 2020:

  • “The scandium rich zone also contains elevated levels of total rare earth oxides plus yttrium (TREO+Y) grading up to 0.419%.
  • The scandium mineralized zone is estimated to be up to 110 m in true thickness and continues to be open at depth below 200 m down-dip and along strike.
  • The evident increase in scandium grades with depth is also very encouraging, however more work needs to be done to fully quantify the scandium and REE resource potential on the property.”

Imperial Mining’s goal is to define a scandium-REE mineral resource of a minimum of 10 Mt. Recoveries to date have been strong at 97-98% for scandium and 79% for rare earths.

Well funded after recent oversubscribed capital raises, Imperial Mining plans to spend C$2M to achieve their 2021 plans. These include further drilling, metallurgical recovery additional method testing (April), a 43-101 Resource report (May), and a PEA (July-August). Beyond that next will be permitting and a completed Feasibility Study by end 2023, subject to financing.

The Company plans the Crater Lake Project to be a small open-pit operation with on-site magnetic concentrator and/or sensor-based sorting resulting in high scandium recoveries. It is expected that the Project will be a low CapEx, OpEx due to the high grades and using simple process recovery methods.

Closing remarks

Imperial Mining Group has recently started trading on the OTCQB Venture Market in the U.S., which provides US investors with a pathway to invest and participate in the Imperial Mining Group story.

Given the potential exponential growth ahead if scandium lightweighting takes off in a big way, first mover scandium junior miners such as Imperial Mining Group can be big winners.

Risk is high and patience is needed. One plus for investors is Imperial Mining also has some gold prospective properties in Quebec (La Roncière  and Opawica), with a recent increased interest in La Roncière. Always good to have some gold as insurance.

We will continue to follow the Imperial Mining Group story as it unfolds. Stay tuned.