Scandium Canada’s (TSX-V:SCD) board of directors have approved the grant of 8 million options, amid appointing Steve Nadeau as Chief Financial Officer after current CFO Isabelle Gauthier decided to dedicate more time to other existing clients.
The options will be exercisable for $0.05 for a five-year period ending on 29 November 2029.
An aggregate of 2.3 million options was granted to consultants and employees of the company.
Gauthier will ensure a smooth transition with Nadeau until mid-December. During this period, she will finalise the company’s audit for the fiscal year ended 31 August 2024.
Nadeau has more than 30 years of experience across the financial and business functions and has held executive-level positions in private and publicly traded companies.
CEO Guy Bourassa says he’s known and worked with Nadeau for over 15 years and is confident that his leadership and expertise will play a key role in Scandium Canada development.
Nadeau says: “I am excited and honored to step into this role during such a significant time in our company’s history and look forward to working again with Guy and partnering with the team to advance the company’s priorities.”
In conjunction, the company has appointed Jean-François Magnan as Chief Technology Officer.
“I am pleased that Scandium Canada’s management team considered me for this important role and I am dedicated to putting together the best solutions available to recover as much scandium from the ore to be mined with the smallest amount of transportation possible,” Magnan says.
“Our emphasis is to have the best return from the ore extracted with the lowest possible environmental footprint.”
Bourassa says as the company progresses completing a 500kg metallurgical pilot at SGS Lakefield and diligently work on improving the flowsheets before completing a NI-43-101 Prefeasibility Study, the company wanted to have internal support to oversee the consultants and laboratories involved with this matter.
Scandium Canada is also creating a specific division within the company to be dedicated to the pre-commercialisation efforts of the two aluminium-scandium powders and to pursue the development of other aluminium-scandium alloys to engage with end-users.
Later during the fiscal year, a subsidiary will be created to encompass these activities.
Chief Science Officer Luc Duchesne has agreed to lead that new division and subsidiary.
Scandium Canada is a technology metals company focused on advancing its flagship project in Québec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Scandium Canada
