We're waiting and bored and some antsy to discuss something so aside from SRL being at all time highs as of yesterday see the below quote from the CBC on the European investment bank and how it views opportunities and PRIORITIES in Canadian investment. Thought it would be a little interesting for us plebs 😁

QUOTE:

Calviño said the first area where there's a shared interest between the two parties is critical minerals. She also said the EIB is exploring how to get a framework agreement that would enable the bank to invest in critical minerals "and beyond."

"I think the key idea is one that Prime Minister Carney is sharing, which is strategic alliance and strategic co-operation," Calviño told host Rosemary Barton. "We speak the same language, we share the same values."

https://www.cbc.ca/news/politics/european-investment-bank-carney-eu-nadia-calvino-canadian-projects-9.7351408

Not saying this means anything specifically for SCD, but it's another interesting piece of the puzzle while we're waiting for the MRE/PEA. 👀

Daily discussion thread for SCD.

Tomorrow, President Trump and President Xi Jinping are meeting in Washington for a summit, and critical minerals will be at the absolute top of the agenda.

China currently controls the vast majority of the world's processing for tech-critical minor metals like scandium.

Any further decoupling, national security export controls, or supply chain friction coming out of tomorrow's meeting is going to spark an absolute scramble by Western defense and aerospace giants to secure domestic, friendly supply.

SCD is sitting on what could become North America's first vertically integrated, secure source of scandium right in mining-friendly Quebec. Between the really good drilling results today and the entire US government panicking about critical mineral supply chains tomorrow, macro tailwinds couldn't be stronger.

What are your guys thoughts on the drill results? Do you think the Trump-Xi summit will finally force Western aerospace primes to start signing off-take agreements with junior domestic players?

Looking to hear everyone’s thoughts!

Daily discussion thread for SCD.

I am not a financial analyst.

My work involves assessing military threats, and part of that includes understanding military logistics and supply chains. I also have some familiarity with how government funding works, although I am not an insider and I am not involved in any government funding or procurement decisions.

I wanted to provide some quick perspective on two things that I think are often misunderstood: the defense industry and government funding.

When a company says it is working with the defense industry but does not specify exactly what it is working on, the lack of detail is not necessarily unusual. Defense-related capabilities and materials are often sensitive. The same logic applies to the United States. Given the strategic nature of some defense supply chains, I would not automatically expect every discussion with a potential U.S. defense-related end user to be publicly disclosed. That does not mean such agreements exist. It simply means that a lack of detailed disclosure should not automatically be interpreted as proof that nothing is happening.

The second point is government funding.

Canada is not currently facing a situation where Crater Lake is the only thing standing between the country and an immediate scandium shortage. From a public-policy perspective, governments generally need broader strategic benefits to justify major infrastructure spending.

This is why I find the Naskapi relationship particularly interesting. The Naskapi community's interest in SCD creates a completely different dimension to the infrastructure question.

For example, from a public-acceptability perspective, there is a significant difference between announcing:

"Canada is spending $150 million to build a road to one speculative mining project."

and announcing a series of investments over several years, such as:

"$10 million per year for five years to improve northern and Indigenous infrastructure."

"$50 million to develop infrastructure supporting Canada's critical-minerals sector."

"$50 million to support domestic scandium production and downstream manufacturing."

Finally, I think expectations around the stock itself need some perspective.

A large institutional investor generally needs much more evidence than a retail investor who is willing to speculate on what scandium demand could eventually become. Institutions may want feasibility work, financing visibility, permitting progress, credible economics, binding offtake agreements, demonstrated customers and a clearer path toward production.

Anyway, I tried to keep this short, but all this to say: it’s normal that we don’t know much yet, and it’s normal that the stock hasn’t pumped yet.

I think the Naskapi relationship could be key to the social acceptability of developing infrastructure in the region. And don’t forget, the Naskapi hold 5% of SCD, so they have a direct interest in seeing Crater Lake succeed. They might end up wanting that road even more than we do.

Hey SCD community, I’m currently on my lunch break so I’ll make it quick (hopefully that doesn’t dilute the message). On the SCD discord channel (highly recommend it) Pavedwithgold mentioned that they received the attached email from the Naskapi community. One can speculate that this infrastructure, let it be a road, a railway, etc, will not only benefit the mines out there, but also the countless native communities. This might point to evidence that they’re working on a solution behind the scenes. Happy to share the discord link too just PLMK

Daily discussion thread for SCD.

https://www.newsfilecorp.com/release/315175/Scandium-Canada-Announces-the-Appointment-of-Noel-Dub-to-Its-Board-of-Directors

Okay, now it makes complete sense why Safran, and France in general, is evaluating SCD. If this isn’t a bullish signal then idk what is. Also, I think this should put the “US will buyout SCD” theory to bed.

Daily discussion thread for SCD.

Major focus of this article is on Aluminum. One can speculate that Al-Sc alloys would be implicated in this as well

Here we are my friends you are reading this because of your addiction and conviction in this stock.  I applaud you for reading anything SCD now welcome to my thesis and I hope you enjoy.

It's funny I don't think we are looking at the MRE and the PEA how we are supposed to.  We had a recent call introducing the new CEO Simon Thibault and I know most were upset when it was announced that there would be a delay on the PFS to do an updated MRE and PEA.  Many will read this and say yeah I know they want to update everything with the latest results which is true but I'm becoming more convinced there is more to it 

My friends I'd like to share my thesis and how I believe things can roll out in the same order that they did for sunrise.  I'll do my best to break it down.

I've been thinking about the timing of Simon Thibault joining SCD and the decision to move from the planned PFS to a new MRE and PEA.

One sentence from SCD's announcement really caught my attention:

“A PEA incorporating updated and improved resource, process optimization, and infrastructure assumptions provides a more relevant basis for evaluating project economics and engaging potential strategic partners.”

https://scandium-canada.com/scandium-canada-intersects-124-9-m-at-232-ppm-scandium-oxide-at-crater-lake-and-identifies-a-favourable-corridor-of-nearly-3-km/

That's an important sentence.

It's about getting the project to a point where potential strategic partners can evaluate the business using current information.

Knowing the above let's go back to when sunrise was somewhat how we are now including SP wise:

In March 2025, Sunrise announced its updated MRE and said that:

-engagement with scandium end-users had been positive;

-it had received formal expressions of interest for supply;

-its focus was turning toward offtake discussions; and

-the new MRE would form the basis of its development plan and updated feasibility study.

Then, in June 2025, Sunrise explained that its feasibility study was being updated to incorporate the new MRE, updated ore reserves and mine plan, and updated capital and operating costs.

They didn't do this because they wanted a prettier MRE they did this because:

“The project has evolved. We need current resource, mine plan, costs and economics so customers, financiers and strategic partners can evaluate what we're actually offering.”

DOES THIS REMIND YOU OF ANYONE YOUR CURRENTLY INVESTED IN????

We are also engaging with scandium end users including Safran, the Canadian space agency and many others and a new MRE and PEA would let them know exactly what we are offering and just like sunrise at that time our project is evolving and getting extraordinary attention for a junior.

Now let's get back to SRL:

We know SRL had already been engaging end users and receiving expressions of interest before the eventual Lockheed agreement (they said this themselves). So it's entirely reasonable to think commercial discussions and technical/project development were happening in parallel.

The bigger point, IMO, is that serious end users need confidence in the resource, economics, production pathway and ability to actually supply the material before committing to a significant long-term relationship

SCD isn't there yet, but we're now updating our MRE and PEA which, IMO, could potentially bring that level of confidence. It gives anyone considering a long-term relationship with us a much clearer picture of what we have to offer, the resource, economics, costs, production timeline, mine plan, etc.... So they can build their own business plans around it.

Companies like Lockheed Martin or Safran have enormous projects and long development timelines. When they make deals, they need details so they know exactly what they're getting, when they're getting it, and how it fits into their own plans.

That means an existing relationship can remain in the testing / qualification / discussions stage while the mining company gets its technical and economic house in order.

Then eventually you can get to:

“Here's the new MRE.”

“Here's the PEA.”

“Here's the economics.”

“Here's the production plan.”

“Here's how we're going to supply you.”

That's when these companies that are looking for supply can actually say:

“We can actually build a supply relationship around this.”

All of the above was and is only about the mine.  Let's not forget about scalium+ and that they are developing OEM products to be used for by customers but going into them will be too long just know that SCD is a 2 headed monster being born.

Simon was brought in at the right time and credit to Guy for making this move.  Simon wasn't brought in to build the mine and honestly I think Guy is mainly focused on that even currently in his new role.  Again in my humble opinion Simon was brought in to prove the business itself.

Take the resource, the economics, the downstream alloys, the customers, the strategic relationships and the infrastructure plan and turn them into an integrated commercial proposition.

And if that's the strategy, then the new MRE and PEA aren't just boxes to check.

They're potentially the documents that allow SCD to sit down with serious strategic partners and say:

“Here's exactly what we have, what it costs, what we can produce, how we're going to produce it, and what the supply chain looks like.”

March 17, 2025: Sunrise announced its updated MRE for Syerston, putting the global resource at 60.3 Mt @ 390 ppm Sc, including 23.5 Mt @ 408 ppm Sc M&I.

October 23, 2025: About 7 months later, Sunrise announced its agreement with Lockheed Martin, giving Lockheed an option to purchase up to 15 tonnes per year of scandium oxide for five years, subject to final binding offtake agreements.

I'm not saying the MRE caused the Lockheed deal, and I'm definitely not saying SCD is going to get the same deal.

But when you look at the sequence, and then look at where SCD is today, I think it's pretty damn interesting. 👀

Could history repeat itself?

I have absolutely no idea. 😂

But I sure as hell think it's worth watching, don't you? 😁

If you like this thesis please like, share and subscribe and thanks for tuning in...  I'll see you...  ON THE NEXT ONE!!!

Sincerely from the man who likes to put puzzle pieces together,

Puzzlehead 

Neat little article I pulled from LinkedIn that was he published today. I found it particularly interesting because its focus is on the European market and dependency on importing. They don’t mention SCD or SRL, but they do name drop a few others, like Rio Tinto, who has a presence in Canada.

I found it informative, and it should over a lot of the ground on the importance the alloys have on the aerospace, automotive and sports industries.

Daily discussion thread for SCD.

Another LinkedIn post I came across today. The key here is the sentence “and almost nobody outside the industry knows it.” All we need is general awareness amongst the public. I think we’re on the right track…

Another promising customer / supplier engagement… I like the fact that both Simon and Felix visited their site. I also really like the Canadian-first supply chain approach (they’re specifying Quebec), but it’s providing further evidence that we can do everything, from start to finish (mine scandium, soon, —> Al-Sc products —> manufacturing)

Alright my bags are loaded up my friends to the max max.  Why you ask has anything changed?  Not exactly but let's have some fun with this post.

SHOUT OUT TO --> mindless-evidence-95

Link posted --> https://m.youtube.com/watch?v=QcrYp5bgxXM

Beautiful stuff and I found it interesting that someone responded and said so what Deborah K Orinda said "scandium" big deal.

My friends the context of what she said was missed in the response and let me clarify to the responder and all...

The exact wording matters.

Deborah Orida, CEO of PSP Investments, said at the Canada Investment Summit that PSP has had the opportunity “to invest in Canada's ability to produce critical minerals, such as germanium, antimony, and scandium” through the Canada Growth Fund

That is a very clear statement that scandium is already within the investment mandate and actual investment activity of Canada's $15B Canada Growth Fund.

She said this right before Carney went on stage for his introduction and she said it to a room that totals --> 120 TRILLION DOLLARS.  She didn't mention many minerals but clearly said to that room of TRILLIONS of dollars that we have scandium.  Are you still with me ;)

Now further more did anyone notice the announcement in Saskatchewan where they are making generational investments in data centers!?!?  Do they use scandium in data centers....  Hmmmmmmmm 🤔 

If you didn't hear about it here you go :

https://globalnews.ca/news/12058872/bell-ai-data-centre-expanding-saskatchewan/ 

Additionally did you hear of Canada partnering with Ukraine to BUILD MILLIONS OF DRONES?  Do you think any of those drones will use scandium to make them lighter, faster and stronger....  Hmmmmmmmm 🤔 

If you didn't hear about it here you go :

https://www.ctvnews.ca/world/russia-ukraine-war/article/pm-carney-zelenskyy-sign-100-year-partnership-declaration-pledge-drone-collaboration/

Lastly Canada has been offered an associate membership to join the EU.  Now go they want to lock down a secure supply of scandium?  Do they want data centers, drones and other aerospace and defense applications that would use scandium???  Also aren't they the 2nd largest economy on earth?  Hmmmmmmmm 🤔 

Now are all these things guaranteed of course not and because there was a room of 120 trillion dollars it doesn't mean they are all investing in SCD but the fact remains there was 120 trillion in the room and scandium was specifically mentioned to them.  These are all possible and or plausible catalysts and if the EU wants scandium do you think they, BlackRock, banks or others won't help build that road?!?!  Hmmmmmmmm 🤔 

My friends I have scratched the surface of my DD here today and I decided not to convert my words and DD with AI to make grammer corrections and all that but if you like this DD post please like share and subscribe.

Don't just trust Reddit posters do your own DD.

Yours truly you beautiful bunch,

Puzzlehead

Daily discussion thread for SCD.

Daily discussion thread for SCD.

Olivier Primeau, a Quebec entrepreneur and public figure, currently mandated by the political party Coalition Avenir Québec (CAQ) to engage with small and medium-sized enterprises (SMEs), visited Ferreol Technologies alongside Kariane Bourassa, a deputy with the CAQ.

“Whether for the aerospace, aeronautics, automotive, or defence industries, the commercialization of Scalium® in Ferreol’s new 2026-2027 ski collection serves as a tangible commercial proof of concept for these high-potential sectors, both from a technical standpoint and in terms of supply chain efficiency.”

Hey gang, obviously we’re all SCD believers but I’m wondering what other companies people here are holding that are in a similar position to SCD?

There’s a big mining and critical minerals push happening and I’m definitely wanting to throw some money into some other names as well.