Scandium Canada annonce des avancees en commercialisation de ses alliages, des resultats financiers record au troisieme trimestre et une campagne de forage qui progresse comme prevu a Crater Lake
Scandium Canada Ltd. (SCD) has reported strong financial results for the quarter ended May 31, 2026, highlighting a record-strength balance sheet supported by significant equity financing and option exercises. The company announced $15.2 million in working capital and $11.6 million in cash on hand, a figure representing a 29-fold increase from the $0.4 million recorded on August 31, 2025. Total assets reached $31.9 million and shareholders' equity stood at $30.2 million, both more than doubling from the prior period. Total liabilities were reduced to $1.6 million, with all unsecured loans fully repaid. Management confirmed that current funds are sufficient to meet obligations and budgeted expenses for at least the next 12 months.
During the nine-month period, Scandium Canada generated $18.6 million in net proceeds from financing activities. This included a $17.25 million firm commitment placement closed in March 2026, which included the full exercise of an over-allotment option. Additionally, the company realized $2.96 million in gross proceeds from the exercise of 46.7 million warrants and 1.5 million stock options between September 1, 2025, and July 14, 2026. The company also holds $1.5 million in government grant receivables at the quarter-end.
On the commercial front, Scandium Canada reported promising preliminary results for its proprietary SC7075 aluminum-scandium alloy wire. Tests with a collaborator demonstrated that the wire can produce structures comparable to commercial non-scandium wire via Wire Arc Additive Manufacturing (WAAM). The company is now focusing on optimizing deposition parameters, with potential market demand estimated at up to 30 tonnes per year of scandium oxide. SC535 rods also showed promising potential for high-temperature applications. Furthermore, a protocol with Gränges Powder Metallurgy has been expanded to cover powders and plates, identifying commercial opportunities in energy and defense with European OEMs. Active discussions are ongoing with Alpomet for welding wire applications, as industrial users seek qualified, high-strength, weldable aluminum wire.
The company closed the acquisition of Scalium+ (formerly Ferreol Technologies) on June 29, 2026, integrating its sales team, active clients, and production processes. Scalium® alloys tested internally show up to 45% higher strength than aerospace AA7075 aluminum. Luc Duchesne, Ph.D., Scientific Director of Scalium+, stated, "Our preliminary results are promising: we have demonstrated that we can produce structures by WAAM with our SC7075 wire. We are now aiming to optimize deposition parameters with our collaborator... The grouping of our alloys with Scalium+ allows us to offer potential end-users an extended range of 7000 series aluminum-scandium materials... in addition to our existing products (powders, wires, and rods)."
Félix Lapointe, CEO of Scalium+, added, "Two weeks after closing, the priority is simple: continue to serve our current customers while opening the order book to alloys developed by Scandium Canada. A sales team, a production process, and an exclusive alloy portfolio shorten the distance between the laboratory and a purchase order."
Operationally, Scandium Canada has completed 1,593 meters of drilling across eight holes at its Crater Lake project as of July 14, 2026, representing approximately 40% of the ~4,000-meter program. The objective is to collect 8-10 tonnes of bulk metallurgical samples from the defined resource for feasibility study metallurgical testing. An environmental assessment by WSP is proceeding as planned, including flora and fauna inventories, fish habitat surveys, and hydrogeological and geochemical studies. No injuries or operational incidents have been reported.
Guy Bourassa, CEO of Scandium Canada, commented, "At the mid-point of the field season, the Company is implementing the plan presented to shareholders in April: the drill rig is turning at Crater Lake, our SC7075 wire shows promising results for structures produced by WAAM, and our new subsidiary Scalium+ gives us a sales team selling alloys today. With $11.6M in cash and the strongest balance sheet in our history, we are funded for the catalysts to come."