Reno, NV / ACCESSWIRE / November 24, 2014 / EMC Metals Corp. (the "Company" or "EMC") (TSX: EMC) is pleased to announce that it has changed its corporate name to Scandium International Mining Corp. The Company will begin trading under its new TSX ticker symbol, "SCY", on Friday November 28th, and the Company's website address will change to www.ScandiumMining.com.
Our new name better reflects the Company's commitment to developing scandium projects globally, and our current focus on the 100% owned Nyngan Scandium Project in NSW, Australia.
Shareholders can request a replacement certificate with the new Company name, but new certificates are not required and will not be automatically issued. There will be no consolidation of capital in connection with the change of name.
George Putnam, CEO of Scandium International Mining Corp., commented:
"The Board believes that our new name more accurately represents the company's tight strategic focus on our scandium assets, and signals our transition away from a broader specialty metals developer concept. This name change now sharply defines us as a pure scandium play, focused on the development of the Nyngan Scandium Project, intended to be the world’s first primary scandium mine. The recently published Nyngan PEA reinforces this strategy by putting forward a project plan that is sized to enable an independent development by the Company. With a planned capital investment of less than US$80 million generating annual scandia production of approximately 36 tonnes, we have outlined an initial production platform that shows excellent potential profitability, is a right-sized development for our Company, and yet is capable of being a significant price and volume leader in the under-serviced global market for scandium."
ABOUT SCANDIUM INTERNATIONAL MINING CORP. (Formerly EMC Metals Corp.)
SCY is focused on developing the Nyngan Scandium Project into the world's first scandium-only producing mine. The Company owns a 100% interest in both the Nyngan Scandium Project, and the adjacent Honeybugle Scandium Property, in New South Wales, Australia. EMC's interest in both Nyngan and Honeybugle could potentially be reduced to 80% in the future, based on certain current granted option rights.
The Company filed a NI 43-101 Measured and Indicated Resource on the Nyngan Project in 2010, and recently filed a NI 43-101 Preliminary Economic Assessment on the Nyngan Project in October 2014. In addition to the Australian scandium assets, EMC owns a 100% interest in the Tordal Scandium/REE property in southern Norway, where we continue our exploration efforts, specifically for scandium and REE minerals.
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 Scandium International Mining Corp.
For additional information please contact:
Scandium International Mining Corp.
Investor Relations: Ed Dickinson (CFO) (775)-233-7328 or (925) 208-1775 or [email protected]
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This press release contains forward-looking information that does involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements regarding the short term or long term economic feasibility of scandium production at our Nyngan scandium project, and in general, statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. Forward-looking information in this press release is based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice, and by other risk factors disclosed in our public filings. Such statements include metal price assumptions, cash flow forecasts, projected capital and operating costs, metal or mineral recoveries, mine life, production rates and the results of HPAL modelling and testing. Any of these and other assumptions and forecasts may change due to reasons that impact the industry generally, such as Scandium pricing, or for reasons specific to the project. Except as required by law, SCY assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
To view this press release as a PDF file, click onto the following link: public://news_release_pdf/EMCNov242014.pdf
Source: EMC Metals Corp. (TSX:EMC) www.emcmetals.com
SOURCE: EMC Metals Corp.