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Scandium International Mining Corp. Signs Letter of Intent with Granges AB to Test Scandium Alloys in Heat Exchanger Applications
Reno, Nevada--(Newsfile Corp. - January 31, 2018) - Scandium International Mining Corp . ( T...
About this update from Scandium International Mining Corp.
[{"type":"text","content":"Scandium International Mining Corp. Signs Letter of Intent with Granges AB to Test Scandium Alloys in Heat Exchanger ApplicationsReno, Nevada--(Newsfile Corp. - January 31, 2018) - Scandium International Mining Corp. (TSX: SCY) (\"Scandium International\" or the \"Company\") is pleased to announce that it has signed a Letter of Intent (\"LOI\") with Gränges AB (\"Gränges\"), based in Stockholm, Sweden. Gränges is a public company, traded on the NASDAQ Stockholm Stock Exchange, and is a large global player in the rolled aluminum products business, with production assets in Europe, USA, and China, and a worldwide customer base. The LOI calls for the Scandium International to contribute various aluminium alloy samples containing scandium to a testing project, to be undertaken by Gränges research staff, specifically for heat-exchanger applications, and potentially for other applications. The Company will also contribute aluminium-scandium master alloy 2% (\"MA\"), for alloying and trial-testing with Gränges proprietary aluminium alloys. This alloy mixing and testing will also be conducted by Gränges, at their R&D facilities and by their research staff. The parties have agreed to report the parameters and general results of the testing program utilizing these scandium-containing alloys, upon completion of testing.LOI AGREEMENT HIGHLIGHTS:LOI defines alloy and MA contributions to Gränges' testing programs,Gränges agrees to test alloy and utilize MA in their research facilities to document observed scandium impacts on alloys used in their products,Research results are to be reported and understood, possibly publicly disclosed, depending on intellectual property discovery, Gränges is a recognized leader in rolled aluminum products, specifically heat exchanger products, servicing a large global customer base, andSuccessful research results may form a basis for future use of scandium by Gränges.This demonstration program with Gränges represents the third formal LOI announced this month by SCY with distinct industry segment leaders. The programs these LOIs represent are key to demonstrating precisely how scandium will perform in specific products, and in production-specific environments. Potential scandium customers insist on these sample-testing opportunities, directly in their re...