Scandium Canada Ltd. (TSX-V: SCD) has provided an update on the qualification and commercialization of its proprietary aluminum-scandium (Al-Sc) alloys, the 2026 field program at its Crater Lake scandium project, and the filing of its financial report for the third quarter ended May 31, 2026. The company reported promising preliminary results from its SC7075 Al-Sc welding wire trials, expanding commercial opportunities with Granges Powder Metallurgy, advancing discussions with Alpomet, and the successful acquisition of Scalium+ (formerly Ferreol Technologies).
Wire samples of the patent-pending SC7075 alloy were shipped for Wire Arc Additive Manufacturing (WAAM) trials, demonstrating the ability to produce structures comparably to commercial wire without scandium. Optimization of deposition parameters is ongoing, with potential demand of up to 30 tonnes per year of scandium oxide for this new market. Rods of the SC535 alloy also show promise in high-temperature applications. Work under the Memorandum of Understanding with Granges Powder Metallurgy now covers powders and plates, with commercial opportunities identified in energy and defense with European OEMs. Discussions with Alpomet on welding-wire applications are advancing, indicating industrial demand for qualified, weldable high-strength aluminum wire.
On June 29, 2026, the company closed the acquisition of Ferreol Technologies, now Scalium+ Inc., its wholly owned alloy commercialization subsidiary. Scalium+ brings an established Quebec City commercial team, active alloy clients, and a proven production workflow, consolidating the commercialization of Al-Sc alloys and the Scalium® line. One Scalium® alloy is already commercialized, and some Scalium® alloys demonstrated strength results up to 45% higher than typical AA7075 aerospace aluminum in internal testing. Integration is underway across commercial, production, and administrative functions.
Luc Duchesne, Ph.D., Chief Science Officer of Scalium+, commented: "Our preliminary results are promising: we have demonstrated that we can produce structures by WAAM with our SC7075 wire. Next, we aim to optimize deposition parameters with our collaborator, while our work with Granges and our discussions with Alpomet continue to identify prototyping opportunities. As well, our consolidation of alloys with Scalium+ permits a larger offering of 7000-series aluminum-scandium material to potential end users."
The company also filed its interim financial statements for the three-month and nine-month periods ended May 31, 2026, available on SEDAR+ and scandium-canada.com/financial-reports/. As of May 31, 2026, cash stood at $11.6 million, a twenty-nine-fold increase from $0.4 million at August 31, 2025. Working capital was $15.2 million, a $16.6 million swing from negative working capital. Total assets reached $31.9 million with total equity of $30.2 million, both more than double from August 31, 2025 levels. Total liabilities were reduced to $1.6 million, with all unsecured loans repaid in full. The expansion was funded by equity while debt was retired, with financing activities generating $18.6 million over nine months, anchored by the $17.25 million bought deal completed in March 2026. Management believes available funds are sufficient for at least the next twelve months.
Guy Bourassa, CEO of Scandium Canada, commented: "At the midpoint of the field season, the Company is executing the plan presented to shareholders in April: the drill is turning at Crater Lake, our SC7075 wire is showing promising results for structures produced by WAAM, and our newly acquired Scalium+ subsidiary gives us a commercial team selling alloys today. With $11.6 million in cash and the strongest balance sheet in our history, we are funded for the catalysts ahead."
The 2026 diamond drilling campaign at Crater Lake, announced on June 11, 2026, is advancing on schedule under management of Laurentia Exploration. The program is primarily dedicated to collecting a representative metallurgical bulk sample of 8 to 10 tonnes throughout the defined resource, a key input for metallurgical testwork supporting the future feasibility study. In parallel, WSP’s environmental assessment work is proceeding, with field teams conducting fauna and flora inventories, fish habitat surveys, and hydrogeological and geochemical studies in support of the prefeasibility study. Field operations have been conducted without any reported injuries or operational incidents.
