A Mega Mine, NSW lateritic clay belt, page-36

A couple of points on operating cost:

1. SCY is the only company with an independent operating cost estimate at DFS level and subject to NI 43-101 regulatory scrutiny from the TSX.
2. CLQ's operating cost was done in-house by CLQ at PFS level and an independent evaluation of the operating cost is being done at the moment by SNC-Lavalin in Perth, but has not surfaced publicly yet. Lets see what the DFS says, but that will only be as a by-product anyway.
3. PGM's operating cost is at PFS level, done by a junior engineering company with limited experience. Let's see what a DFS number looks like when done my a major bankable engineering company. The DFS has not started yet and is being shopped around engineering companies.
4. AUZ's operating cost is based on dodgy numbers too. Let them run their demo plant and see what the DFS numbers show once they have a real understanding of costs.

Until we are comparing independent DFS numbers, all from recognised, decent size engineering companies, who can actually build one of these complex plants, then comparisons n my opinion are pointless.

And on a final comment, the next scandium plant to get into production is currently being built in the Philippines by Sumitomo and will start up in May 2018 at 7 tonnes per annum as by-product recovery from a Ni-Co plant called Taganito on the island of Mindanao. A paper on the project was presented at a conference in Perth last year.