Oct. 24 at 12:13 AM
$NB Fyi, there was other big Lockheed Martin scandium news today. Offtake agreement announced with
$SREMF.
"Lockheed Martin secures an option to purchase the first 15 tonnes per annum of scandium oxide from the Syerston Project over an initial five-year period, or approximately 25% of forecast production, subject to formalising offtake terms."
For context, 15t/year is ~40% current global production.
So far our only scandium offtake agreement is with Traxys covering 12% of planned production, but mgmt has said they're hunting for more. Given recent partnership between NB and Lockheed, seems likely to me that we'll hear about our own offtake agreement with them soon. Worst case this confirms huge demand for one of our primary outputs. If one company is signing agreements equal to 40% of current global production, safe to say plenty of others are lined up behind them.