Scandium Canada Ltd. (TSX-V: SCD) has released an activities update covering the qualification and commercialization of its proprietary aluminum-scandium (Al-Sc) alloys, the 2026 field program at its Crater Lake scandium project in Nunavik, Quebec, and its financial results for the third quarter ended May 31, 2026.
The company's alloy strategy advanced on four fronts: promising preliminary results from its SC7075 Al-Sc welding wire, expanding commercial opportunities with Granges Powder Metallurgy, advancing discussions with Alpomet on welding-wire applications, and the successful acquisition of its new subsidiary Scalium+ (formerly Ferreol Technologies). Wire samples of the patent-pending SC7075 alloy were shipped for Wire Arc Additive Manufacturing (WAAM) trials, demonstrating the ability to produce structures comparably to commercial wire without scandium. This application alone could generate demand for up to 30 tonnes per year of scandium oxide. Additionally, rods of the SC535 alloy show promise in high-temperature applications.
Work under the Memorandum of Understanding with Granges Powder Metallurgy is expanding to cover powders and plates, with commercial opportunities identified in energy and defence with European OEMs. Discussions with Alpomet on welding-wire applications are actively advancing. On June 29, 2026, the company closed the acquisition of Ferreol Technologies, now Scalium+ Inc., its wholly owned alloy commercialization subsidiary. Scalium+ brings an established commercial team, active alloy clients, and a proven production workflow. One Scalium® alloy is already commercialized, and internal testing under controlled conditions showed strength results up to 45% higher than typical AA7075 aerospace aluminum.
Luc Duchesne, Ph.D., Chief Science Officer of Scalium+, commented: “Our preliminary results are promising: we have demonstrated that we can produce structures by WAAM with our SC7075 wire. Next, we aim to optimize deposition parameters with our collaborator, while our work with Granges and our discussions with Alpomet continue to identify prototyping opportunities.”
Felix Lapointe, CEO of Scalium+, added: “Two weeks in, the priority is simple: keep serving our existing alloy clients while opening the order book to the alloys developed by Scandium Canada. A commercial team, a production workflow and a proprietary alloy portfolio shorten the distance between the laboratory and a purchase order.”
The company also announced the filing of its interim financial statements for the three-month and nine-month periods ended May 31, 2026, available on SEDAR+ and at scandium-canada.com/financial-reports/. As of May 31, 2026, the company reported cash of $11.6 million, working capital of $15.2 million, total assets of $31.9 million, and total equity of $30.2 million. Total liabilities were reduced to $1.6 million, with all unsecured loans repaid in full. The expansion was funded by equity, with financing activities generating $18.6 million over nine months, anchored by a $17.25 million bought deal completed in March 2026.
Guy Bourassa, CEO of Scandium Canada, stated: “At the midpoint of the field season, the Company is executing the plan presented to shareholders in April: the drill is turning at Crater Lake, our SC7075 wire is showing promising results for structures produced by WAAM, and our newly acquired Scalium+ subsidiary gives us a commercial team selling alloys today. With $11.6 million in cash and the strongest balance sheet in our history, we are funded for the catalysts ahead.”
The 2026 diamond drilling campaign at Crater Lake is advancing on schedule under Laurentia Exploration. The program is primarily dedicated to collecting a representative metallurgical bulk sample of 8 to 10 tonnes for the feasibility study. WSP's environmental assessment work is proceeding, with field teams conducting fauna and flora inventories, fish habitat surveys, and hydrogeological and geochemical studies. Field operations have been conducted without any reported injuries or operational incidents.
The scientific and technical information in this news release has been reviewed and approved by Eric Kinnan, P.Geo., an independent consulting geologist and a Qualified Person as defined by National Instrument 43-101.
