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EMC Metals : Future Scandium producer in Oz ?

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EMC Metals : Future Scandium producer in Oz ?

 

EMC.t / EMC Metals ... 3-year-chart

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With yesterday's strong performance, I have decided to start a thread on EMC

 

Here's a nice surprise...

 

One of my stocks was up 143% yesterday - in a single day !

And on huge volume too. So there should be more gains on the way.

 

EMC Metals ... 10-d/update : 1 year

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This stock was a sort of tip. I heard there was a possibility they would win a lawsuit,

and so I bought it for that idea some weeks ago, then watched the stock languish.

 

My cost was about 5.6 cents, so I am already nicely in profit

 

EMC : 0.085 +0.05

Open: .045 / High: .090 / Low: .045

Volume: 6,990,093

Percent Change: +142.86%

 

This performance was driven by good news

 

About EMC Metals

 

EMC owns a 100% interest in the Springer tungsten mine in Nevada, USA. The Company recently filed a NI 43-101 PEA on the Springer asset and is following a strategy to seek a near term restart of the facility. EMC also owns a 100% interest in the Carlin Vanadium property near Carlin, Nevada. Both the Springer and Carlin Vanadium properties have current NI 43-101 Technical Reports filed on SEDAR, copies of which are available on the Company website. In addition, EMC owns a 100% interest in both the Tordal Scandium and Hogtuva Beryllium properties in Norway where we continue exploration for scandium and REE minerals.

 

In early 2012, EMC's 50% earn-in on the Nyngan Scandium Project was rejected by our Australian JV partner, Jervois Mining Limited. The dispute arising from that rejection is now settled, and EMC now controls 100% of this project, with a Technical Report on resources filed on SEDAR.

 

The technical information in this news release has been reviewed by Willem Duyvesteyn, a Qualified Person as defined by National Instrument NI 43-101. Mr. Duyvesteyn is employed by EMC Metals Corp.

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This performance was driven by good news

 

Feb 06, 2013

EMC Settles Dispute with Jervois, Now Controls 100% of Nyngan Scandium Project in Australia

 

Reno, Nevada - February 6, 2013 - EMC Metals Corp. (the "Company" or "EMC") (TSX: EMC) is pleased to announce it has agreed an out of court settlement to its dispute with Jervois Mining Limited ("Jervois") in relation to the Nyngan Scandium project in NSW, Australia. The terms of the settlement transfer 100% ownership and control of the Nyngan Scandium project to EMC, in return for cash payments and a percentage royalty payable to Jervois on sales of product from the project.

 

The binding settlement entered into with Jervois brings to an end all court actions, claims and counterclaims, including claims for damages and legal and other costs.

 

Highlights of Settlement

  • EMC obtains 100% of the Nyngan scandium property, rights and exploration tenements,
  • EMC agrees to pay Jervois A$2.6M in cash, with completion no later than June 2014,
  • Exploration tenements formally transfer on final payment, but EMC has the right to proceed with development and implementation of the project now,
  • Jervois retains a production royalty on the Nyngan project of 1.7% of sales price for scandium and any other products produced from the site,
  • The production royalty extends for a term of 12 years, from first production date,
  • A minimum annual royalty applies, based on 10 tpa scandium production, and
  • The settlement is subject to FIRB approval (EMC 100% ownership)

Mr. George Putnam, CEO of EMC Metals comments:

 

"We are truly excited to resolve this dispute over Nyngan, to establish full control over the project, and to get back to the business of developing this scandium project. We have work to do to re-establish our position in the markets and update and file our Technical Report on SEDAR, but achieving 100% project control and ownership delivers the opportunity to fast track this project to serve waiting markets."

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NYNGAN PROJECT

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Location - New South Wales (NSW), Australia

Ownership - 50% Earn-in Right (Currently In Dispute)

Partner - Jervois Mining Limited (ASX Listing: JRV)

NSW-Map.jpgProject Highlights:

  • Unique, scandium-only development project,
  • NI 43-101 measured & indicated scandium resource,
  • Planned 28,000 kg p.a. production, for oxide product (Sc2O3), with mill plant on-site,
  • Surface property owned by JRV (partner), local infrastructure excellent,
  • Environmental (EIS) work progressing without issue,

Recent Events

 

During February, 2012, the Company completed and presented to our joint venture partner an NI 43-101 report entitled "Technical Report on the Feasibility of the Nyngan Scandium Project". On February 27, 2012, we received written notice from our joint venture partner that we had failed to meet certain Agreement earn-in milestones. The Company believes that it has fully met the conditions under the Agreement to earn its 50% joint venture interest in the Project and will take all lawful steps to secure its proprietary rights to the 50% joint venture interest.

 

Project Plan. Pending satisfactory conclusion to the current dispute, EMC and JRV intend to begin construction of a commercial scale scandium project on the Nyngan site, and produce scandium oxide product for sale.

 

Mining at the site is anticipated to be done by conventional truck & shovel method. The resource is a typical tertiary laterite, composed of limonites and saprolites. The top 15 metres is alluvial material, and the next 50 metres is the limonite-saprolite host for scandium. The resource indicates a very low strip ratio, and it is expected that the plant will be satisfied by a partial-year mining schedule during the dry summer season (contractor campaign mining).

 

The processing and refining plant details are still being finalized. Previous metallurgical test work has shown recoveries of 70% are possible, with conventional processing techniques effective on laterites (acid leaching, SX). Completed test work includes a series of continuous pilot plant scale steps seeking improved recoveries, better product grades and lower acid consumption rates for better economics and environmental outcomes.

 

Markets. The global scandium market is estimated at 10,000 kg p.a. today (10 tonnes), although it is believed that more product of varying quality levels actually trades and is not captured in the estimates. A market of 10 tonnes of Sc2O3 would have a value of approximately $20M, based on a $2,000/kg average price. The primary markets for scandium oxide are for use in aluminum alloys, and as a stabilizing agent in solid oxide fuel cells (SOFC's). Both markets are expected to grow to many times this current level of 'apparent' demand, once a reliable and sizeable source of scandium product is available. Current scandium markets are fully supply constrained-no sufficient supply source has ever been available that would allow scandium-based markets to develop to their potential.

===

 

/more: http://www.emcmetals.com/s/Nyngan.asp

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Scandium Prices and the Market : "least produced industrial metal"

 

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Markets.

The global scandium market is estimated at 10,000 kg p.a. today (10 tonnes), although it is believed that more product of varying quality levels actually trades and is not captured in the estimates. A market of 10 tonnes of Sc2O3 would have a value of approximately $20M, based on a $2,000/kg average price. The primary markets for scandium oxide are for use in aluminum alloys, and as a stabilizing agent in solid oxide fuel cells (SOFC's). Both markets are expected to grow to many times this current level of 'apparent' demand, once a reliable and sizeable source of scandium product is available. Current scandium markets are fully supply constrained-no sufficient supply source has ever been available that would allow scandium-based markets to develop to their potential.

===

/more: http://www.emcmetals.com/s/Nyngan.asp

 

= QUOTE

Global scandium production is estimated to be approximately 2.5 metric tonnes annually. Another 2-3 metric tonnes are also said to be supplied in the form of scandium oxide (Sc2O3) from outdated Soviet stockpiles, however, production of scandium metal is purportedly less than 20kgs per year, making it the least produced industrial metal.

 

And can you tell me were you got the $2,000/kg, because looking at http://www.mineralprices.com/

the price for scandium metal as of 20 dec is $15,000 US$/kg and $7,200 for scandium oxide.

= UNQUOTE

Read more at http://www.stockhous...hDbjdbpAbLGU.99

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