Scandium Canada Ltd. (TSX-V: SCD) provided an update on the commercialization of its proprietary aluminum-scandium (Al-Sc) alloys, the 2026 field program at its Crater Lake project in Nunavik, Quebec, and its record financial results for the third quarter ended May 31, 2026.
The company reported promising preliminary results from wire trials of its SC7075 alloy for Wire Arc Additive Manufacturing (WAAM). Wire samples shipped to a collaborator demonstrated the ability to produce structures comparably to commercial wire without scandium, with work now focused on optimizing deposition parameters. This application could generate demand for up to 30 tonnes per year of scandium oxide, a market segment that does not currently exist. Rods of the SC535 alloy also 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, signaling industrial demand for qualified, weldable, high-strength aluminum wire.
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 Quebec City commercial team, active alloy clients, and a proven production workflow. One Scalium® alloy is already commercialized, with some demonstrating strength results up to 45% higher than typical AA7075 aerospace aluminum in internal testing.
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 filed its Q3 financial report, highlighting the strongest balance sheet in its history. As of May 31, 2026, cash stood at $11.6 million, a twenty-nine-fold increase from $0.4 million at August 31, 2025. Working capital reached $15.2 million, a $16.6 million swing from negative working capital. Total assets were $31.9 million, total equity $30.2 million, and total liabilities reduced to $1.6 million with all unsecured loans repaid. The expansion was funded by equity, including the $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, primarily focused on collecting a representative metallurgical bulk sample of 8 to 10 tonnes to support the future 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.
The scientific and technical information has been reviewed and approved by Eric Kinnan, P.Geo., a Qualified Person as defined by National Instrument 43-101. The company’s financial statements are available on SEDAR+ at www.sedarplus.ca and on the company’s website at scandium-canada.com/financial-reports/.
