Scandium Canada Ltd. (TSX-V: SCD) has released an update on the qualification and commercialization of its proprietary aluminum-scandium (Al-Sc) alloys, the 2026 field program at its Crater Lake project in Nunavik, Quebec, and its financial results for the third quarter ended May 31, 2026. The company reports promising preliminary results from its SC7075 welding wire trials and advancing commercial discussions, while its drilling campaign for a metallurgical bulk sample is on schedule.
The alloy strategy advanced on four fronts: promising preliminary results from the SC7075 Al-Sc welding wire for Wire Arc Additive Manufacturing (WAAM), expanding commercial opportunities with Granges Powder Metallurgy, advancing discussions with Alpomet on welding-wire applications, and the acquisition of Scalium+ (formerly Ferreol Technologies). Wire samples of the patent-pending SC7075 alloy have been shipped for WAAM trials, demonstrating the ability to produce structures comparable to commercial wire without scandium. This application could generate demand of up to 30 tonnes per year of scandium oxide, a new market segment. Rods of the SC535 alloy also show promise in high-temperature applications.
Work under the Memorandum of Understanding with Granges Powder Metallurgy is expanding to cover powders and plates, with commercial opportunities identified in energy and defence with European OEMs. Discussions with Alpomet on welding-wire applications are actively advancing. 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 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 internal testing under controlled conditions showed strength results up to 45% higher than typical AA7075 aerospace aluminum.
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." Felix Lapointe, CEO of Scalium+, added: "Two weeks in, the priority is simple: keep serving our existing alloy clients while opening the order book to the alloys developed by Scandium Canada. A commercial team, a production workflow and a proprietary alloy portfolio shorten the distance between the laboratory and a purchase order."
The company also announced the filing of its Q3 financial results, highlighting the strongest balance sheet in its history. 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 of $15.2 million (a $16.6 million swing from negative working capital), total assets of $31.9 million, and total equity of $30.2 million. Total liabilities were reduced to $1.6 million, with all unsecured loans repaid in full. The expansion was funded by equity, anchored by the $17.25 million bought deal completed in March 2026. Management believes the 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 future is very exciting for Scandium Canada."
The 2026 diamond drilling campaign at Crater Lake, announced on June 11, 2026, is advancing on schedule under the 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 on schedule, 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.
The scientific and technical information has been reviewed and approved by Eric Kinnan, P.Geo., an independent consulting geologist and a Qualified Person as defined by National Instrument 43-101. The company’s financial statements and management’s discussion and analysis are available on SEDAR+ at www.sedarplus.ca and at scandium-canada.com/financial-reports/.
