Business
SCY Receives Notice That Nyngan Mine Lease Has Been Determined Invalid
Reno, Nevada--(Newsfile Corp. - April 18, 2019) - Scandium International Mining Corp. ( TSX:SC...
About this update from Scandium International Mining Corp.
[{"type":"text","content":"SCY Receives Notice That Nyngan Mine Lease Has Been Determined InvalidReno, Nevada--(Newsfile Corp. - April 18, 2019) - Scandium International Mining Corp. (TSX:SCY) (\"Scandium International\" or the \"Company\") has received notice from Counsel for the NSW Department of Planning and Environment (the 'Department') that, due to a procedural issue within the Department, the Company's Mine Lease Grant, ('ML 1763'), pertaining to the Nyngan Scandium Project in New South Wales, Australia, previously issued by the Department on 4 October 2017, is invalid.The Department has determined that its internal procedures failed to properly and fully consider an affected landowner's 'Agricultural Land' objection prior to the grant of ML 1763, as specified by applicable Law. The Department has not changed the formal 'granted' status of ML 1763 on its electronic public record system (TAS), but that is now expected to occur.As the Company's mine lease application ('MLA 531') submitted in 2016 covering the entire area originally requested has not been validly determined by the Department, the mine lease application remains in force and pending. The Department has not yet completed its review and determination of the validity of the landowner's objection, as per applicable Law, but has advised the Company that it is continuing with its ongoing formal review. The Department's ultimate decision on validity of the landowner objection will then determine the outcome on the pending application (MLA 531). If the landowner's objection is not upheld by the Department, then the Department will proceed to grant a new Mining Lease to the Company. The Company believes that the viability of the project is not dependent on land related to the current objection and can proceed based exclusively on surface rights owned by the Company. The Company is currently in ongoing discussions with the affected landowner, and is also in process of filing other MLA documents that could potentially address issues central to this matter. George Putnam, CEO of Scandium International Mining Corp. commented:\"The determination by the Department as to the validity of the agricultural land objection has not been made, and remains at the heart of this matter. The Company (with Counsel) has provided the Department with extensive comments on the objection and will press for an early, ac...