Project Overview - The Syerston Scandium Project boasts the largest high-grade scandium resource globally and is development-ready[12] - A feasibility study update is underway for the Syerston Scandium Project[12] - The project has a granted Mining Lease (ML1770) and secured water rights[42] Scandium Market Dynamics - Solid oxide fuel cells account for 75% of global scandium demand, followed by aluminum alloys at 20% and semiconductors at 5%[18] - Over 90% of world demand is from US industry, for both civilian and defense applications[18] - China dominates global scandium supply, exceeding the share of many strategic metals[22] - In April 2025, China declared scandium a 'dual-use item', leading to export controls[25] Syerston Resource Estimate - The Syerston Mineral Resource Estimate (JORC 2012) contains a Measured plus Indicated resource of 235 Mt at 408 ppm Sc, containing 9,583 t of Sc[45] - At a 300 ppm Sc cut-off, the Syerston Mineral Resource Estimate (JORC 2012) contains a Measured plus Indicated plus Inferred resource of 603 Mt at 390 ppm Sc, containing 23,554 t of Sc[45] - At a 600 ppm Sc cut-off, the Syerston Mineral Resource Estimate (JORC 2012) contains a Measured plus Indicated plus Inferred resource of 08 Mt at 663 ppm Sc, containing 501 t of Sc[45] Scandium in Aluminum Alloys - Scandium additions of 010%wt to aluminum billet adds between $090 to $180/lb to the cost[33] - Scandium is the most potent alloy for aluminum, enhancing strength, extrudability, corrosion resistance, and weldability[29]