Scandium Canada Ltd. (TSX-V: SCD) provided an update on its alloy commercialization efforts, the 2026 drilling campaign at the Crater Lake project in Quebec, and its financial results for the third quarter ended May 31, 2026. The company reported promising preliminary results from trials of its patent-pending SC7075 aluminum-scandium welding wire, which could open a new market segment demanding up to 30 tonnes of scandium oxide per year.
Wire samples of the SC7075 alloy were shipped to a collaborator for Wire Arc Additive Manufacturing (WAAM) trials. The wire demonstrated the ability to produce structures comparably to commercial wire without scandium, and work now focuses on optimizing deposition parameters. Rods of the company’s SC535 alloy also showed promise in high-temperature applications. These developments are part of Scandium Canada’s strategy to commercialize its Al-Sc alloys across multiple sectors, including aerospace, defence, and energy.
On June 29, 2026, the company closed the acquisition of Ferreol Technologies, now Scalium+ Inc., a wholly owned subsidiary that consolidates the commercialization of its Al-Sc alloys and the Scalium® line. Some Scalium® alloys have demonstrated strength results up to 45% higher than typical AA7075 aerospace aluminum in internal testing. Felix Lapointe, CEO of Scalium+, stated: “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’s work under a 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 also advancing. Luc Duchesne, Ph.D., Chief Science Officer of Scalium+, noted: “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.”
Financially, the company reported its strongest balance sheet in history, with cash of $11.6 million as of May 31, 2026, a twenty-nine-fold increase from $0.4 million at August 31, 2025. Working capital stood at $15.2 million, a $16.6 million swing from negative working capital. Total assets reached $31.9 million, and total liabilities were reduced to $1.6 million. The financial results are available on SEDAR+ at www.sedarplus.ca and on the company’s website at scandium-canada.com/financial-reports/.
At the Crater Lake project, a 2026 diamond drilling campaign is advancing on schedule, primarily focused on collecting an 8-10 tonne metallurgical bulk sample for the future feasibility study. Environmental assessment work by WSP is also proceeding, including fauna and flora inventories, fish habitat surveys, and hydrogeological studies. CEO Guy Bourassa 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 company believes its current funds are sufficient to meet obligations for at least the next twelve months.
