Charley Creek - Untapped Scandium Potential, page-14

>>RIM would have the same geology as SRL

No, it's totally different geology in the RIM Murga discovery. There is no Laterite nor Laterite associated Cobalt and Nickel. The Sunrise deposit is a typical Laterite deposit.






>>SRL can go Sc alone if they wish. Capex about $150m. It’s the ni co that’s the capex killer.

Can you please post your source? I have not seen the company state anywhere that they would consider Scandium alone, nor the capex for Scandium alone.

Your costing seems way off as well. It doesn't matter that you're not going to extract Nickel and Cobalt, you're still processing Laterite ore to extract Scandium and that is where the complexity arises. You still need to crush and grind the Laterite, you need the chemical processes to extract the Scandium from Laterite.

>>no one really cares about Sc atm unfortunately

Rio cares enough to pay $21m because the Platina project can be developed for Scandium alone. The market cares enough to give RIM a market valuation that is double the market cap of SRL (despite all their spent capital and DFS).

Whole point here is that there is demand for Scandium where the resource size is ample and the processing technique isn't too complex, meaning reasonable capex/opex to get the project going.

Leaching Scandium from Saprolite clays is far more cheaper and effective than processing Laterites.