Yeah, you're right about the current bleak financial situation, there's a risk of more dilution, maybe it goes to 150 million shares at some point, i don't know the answer. As far as the scandium supply, i'm not too worried about this (see below). Weighing risk vs. reward, i still think it's a good spec play ... and of course, with any spec play, you risk losing all your money. Let's see what other pros have signed up .... the company told at least one person the names mentioned will make your jaw drop!
Scandium is most often found in nature as an oxide in relatively low concentrations, from 5 to 100 parts per million. It is rarely concentrated in nature due to its lack of affinity to combine with the common ore-forming anions. Therefore, it is usually derived as a by-product from uranium and other mineral leaching operations. The cost of scandium is directly related to the relatively high cost of processing and its lack of widespread use in commercial products. It has not been commercially mined in the United States or Europe because only small quantities have been used, primarily in high intensity halide lamps, lasers, electronics, high tech ceramics, and research applications.
However, in the former Soviet Union, scandium has been produced in significantly larger quantities since it was an additive to traditional aluminum alloys to produce ultra high strength scandium metal alloys for military aerospace uses. In Russia, there is now less scandium production due to reduced military spending. Currently however, Russia still possesses the world’s largest stockpile of pure scandium oxide, which is available to the Company through the rights it acquired from Assignors. When the current supply is exhausted, scandium can be obtained through reactivating production of various waste streams of already identified ore processing sites in Russia. In addition, several possible North American scandium production sites have also been identified, if there is sufficient demand to justify the investment.
History of Commercial Scandium Metal Alloys
Scandium metal alloys for sports applications were developed using the expertise of Russian and Ukrainian scientific institutes. To date, more than 75 tons of scandium metal master alloy have been sold for the production of over 2,500,000 pounds of final product, including several sports products, and for a variety of civil and government funded transportation related development programs.
In 1997, Easton Sports’ baseball and softball bats constituted the first production of a large-scale scandium sports product. The ultra light high-strength Easton bats, known as the Scandium/Sc 7000 Redline series, quickly became the most successful new product launch in Easton’s 75-year history. As of September 2003, Easton has sold in excess of $800,000,000 of scandium metal alloy baseball and softball bats. Easton then produced a weldable scandium metal alloy for use in bicycle frames, and handle bars. Both products have been highly successful and the frame is now considered one of the lightest in the industry and used by many top-racing teams. In addition to baseball bats and bicycle frames, scandium golf shaft, metal wood drivers, putters, lacrosse sticks, bicycle seat posts and handlebars, and hockey stick prototypes have been developed.
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