Scandium Canada announces the sale of its La Ronciere gold project to Barrick

Core Viewpoint - Scandium Canada Ltd. has entered into a definitive agreement to sell its La Roncière gold project to Barrick Mining Corporation for a total consideration of up to C$590,000 in cash, which is seen as a strategic milestone for the company [1][2][3]. Financial Details - The agreement includes an initial payment of C$390,000, with an additional payment of up to C$200,000 contingent upon Barrick publishing a pre-feasibility study demonstrating a specified minimum gold content [2]. Strategic Focus - The transaction allows Scandium Canada to generate non-dilutive financing while concentrating on the development of its flagship Crater Lake project, which is currently in the pre-feasibility stage [3][4]. - The divestiture of the La Roncière project is part of a rigorous management approach aimed at creating long-term value for shareholders [3]. Project Location and Accessibility - The La Roncière gold project is located approximately 35 kilometers east of Desmaraisville, Quebec, and is accessible via Route 113, covering a total area of 25.1 km² with 45 contiguous mining claims [3]. Market Context - Scandium Canada capitalized on the favorable context of record-high gold prices to execute this transaction while consolidating its position on the Crater Lake project [4]. Company Overview - Scandium Canada aims to become a leader in the scandium market by developing the world's largest primary source of scandium and focusing on aluminum-scandium (Al-Sc) alloys to meet growing demand for sustainable materials [5].