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Latest update on SCD (TSXV) / SCDCF (OTC) (November 2026)

Updated 08 November 2026. The deep dive below was written earlier; these are the newest facts we could verify, each linked to its source.

  • 2026-10-21: Scandium Canada announced it had completed its 2026 diamond drilling campaign at Crater Lake, a record 10,018 metres. (source)
  • 2026-10-07: The first hole drilled north of the TG deposit returned 292 ppm scandium oxide over 150.1 m, including 92.8 metres at 344.5 ppm. (source)
  • 2026-09-23: Hole CLB-26-076 intercepted 140.15 m at 293.32 ppm Sc2O3, including 29.8 m at 511.63 ppm, the best intercept the company reported in 2026. (source)
  • 2026-08-26: The company postponed the previously planned 2026 pre-feasibility study (PFS). It now plans an updated mineral resource estimate by late 2026 and a NI 43-101 Preliminary Economic Assessment (PEA). It says the PEA will provide an updated valuation of the TG deposit and support partnership discussions. (source)
  • 2026-08-24: Simon Thibault became President and CEO, effective August 24, 2026. Guy Bourassa later signed releases as Director and Strategic Advisor to Management. (source)
  • 2026-08-20: The company issued 25,000,000 charity flow-through units at $0.20 each for gross proceeds of $5,000,000. Each unit carries a warrant exercisable at $0.22 from October 20, 2026 to August 20, 2028. (source)
  • 2026-06-29: The company acquired Ferreol Technologies, which became its alloy subsidiary Scalium+. A related Canadian Space Agency contract provides non-repayable funding of $348,750 supporting R&D to May 31, 2028. (source)
  • 2026-03-17: The company closed an oversubscribed public offering of units at C$0.22 per unit for aggregate gross proceeds of $17,250,046. The deal was first announced at C$10M and then increased. (source)

What changed: Since the 5 January deep dive, the 2026 PFS that the article is built around has been postponed in favour of an updated resource estimate and a new PEA. The company also has a new CEO and has issued many new shares and warrants in the March and August financings. A trader should re-check SEDAR+ filings, the official shares-outstanding count, the 25M warrants at C$0.22 exercisable from 20 October 2026 along with the broker warrants, the unreported Q3 and fiscal-year figures, and a dated current share price.

Trading this on the TSX, TSXV or CSE? Canadian issuers file on SEDAR+, not EDGAR. Our TSXV, CSE and SEDAR+ guide covers the rules that differ, and how to check dilution on SEDAR+ walks through the filings to pull first.

Scandium Canada PFS: Has SCD Released Pre-Feasibility Study Results?

Scandium Canada (SCD.V) has published no pre-feasibility study (PFS) results as of 8 November 2026. On 26 August 2026 it postponed the Crater Lake PFS, which had been planned for summer 2026. The company now plans to update its Mineral Resource Estimate in 2026 and then complete an updated NI 43-101 preliminary economic assessment (PEA). Checked 08 November 2026.

Has Scandium Canada released PFS results?

No. On 26 August 2026, Scandium Canada postponed the Crater Lake PFS that had been planned for summer 2026 and said it would complete a new PEA first. No PFS results have been published since. (source)

Why did Scandium Canada postpone the PFS?

In its 26 August 2026 update, the company cited the time required to finalise the acquisition of a site and to complete metallurgical testing of the optimised process. It said the new PEA would provide an updated valuation of the TG deposit and support partnership discussions while engineering work continues towards a Feasibility Study. (source)

When was the Scandium Canada PFS originally expected?

A February 2026 company release said engineering firm Norda Stelo had been mandated to lead the Crater Lake PFS. The release said the study's conclusions were due in summer 2026, with the final report expected at the end of August 2026. (source)

What study is Scandium Canada working on now instead of the PFS?

According to its Crater Lake project page, Scandium Canada will update the Mineral Resource Estimate in 2026. It will then advance work toward an updated NI 43-101 preliminary economic assessment based on that updated resource. The company's existing NI 43-101 PEA for the TG Deposit dates from 2022. (source)

What is the current Crater Lake mineral resource estimate?

The resource estimate announced on 3 April 2025 reported Indicated Resources of 16.3 million tonnes grading 277.9 g/t Sc2O3. It also reported Inferred Resources of 20.9 million tonnes grading 271.7 g/t Sc2O3, both within the TG Zone. Norda Stelo Inc. completed the estimate. (source)

What drilling has Scandium Canada completed at Crater Lake in 2026?

On 21 October 2026, the company reported 49 holes and 10,018 metres drilled, compared with the 4,000 metres initially planned for 2026. Assay results had been received for 28 of the 49 holes. Results for the remaining 21 holes were expected in November 2026. (source)

What is SCD.V?

SCD.V is Scandium Canada Ltd., formerly Imperial Mining Group Ltd., which changed its name in February 2024. At the close on 5 November 2026, SCD.V was at 0.1450, down 3.33%, with a 52-week range of 0.0800 to 0.3600 and a market cap of 77.067M. Check a live quote for current figures. (source)

SCD PFS refers to the pre-feasibility study (PFS) that Scandium Canada Ltd., ticker SCD.V on the TSX Venture Exchange, is working on for its Crater Lake scandium project in Quebec. A PFS is a mid-stage engineering and economic study. In this article PFS means pre-feasibility study (mining), not progression-free survival. SCD here is not a service computation date or a slowly changing dimension either.

SCD.V (Scandium Canada Ltd.): North American Scandium Trailblazer – Will Crater Lake Unlock a Supply Breakthrough Amid Surging Demand?   SCD.V (Scandium Canada Ltd.): North American Scandium Trailblazer – Will Crater Lake Unlock a Supply Breakthrough Amid Surging Demand? ⸻ Intro Scandium Canada Ltd. is a mineral exploration company focused on scandium, gold, and base metals, with its flagship Crater Lake project in Quebec positioning it as a potential leader in North America’s primary scandium supply. Operating in the basic materials sector, the company targets high-value applications like aerospace alloys, clean energy storage, and advanced materials where scandium enhances strength and performance. Current buzz stems from anticipated 2026 pre-feasibility study (PFS) progress on Crater Lake, recent alloy development updates, and broader scandium market growth driven by electrification and defense needs. As of: 2026-01-05 16:00 ET. Market state: OPEN. Observation: Volume surge suggests early momentum on estimated earnings day, testing recent highs without clear fade. ⸻ Data Freshness & Gaps As of: 2026-01-05 ET. Sources checked: Yahoo Finance, TradingView, company website (scandium-canada.com), X posts, general web searches. Confidence scale: 2 medium. Gap flags: Ownership [FRESH], Insiders [FRESH], Short & Borrow [LOW-SIGNAL], FTD [MISSING], Options IV [MISSING], Dark Flow [MISSING], Earnings [FRESH], Price Data [FRESH], Sentiment [FRESH], Chart [FRESH] Observation: Price and fundamental data current, but options nonexistent and short metrics sparse for this TSXV micro-cap—typical for low-liquidity explorers. ⸻ Current State of SCD.V • Current price 0.165 CAD, +3.13% (0.005 up), volume 1.99M vs 20-day avg 1.24M (61% above) • 52-week range 0.010-0.170, YTD vs SPY/sector ETF: Early 2026, but 52-week +966% crushes benchmarks like XME (metals ETF ~+20% YTD est.) • Premarket/after-hours notes: No notable gaps; intraday high 0.170, low 0.155 • Tape: Structure firming with higher volume, liquidity modest but improving on interest; no halts or SSR noted • Regime overlay: VIX neutral (est. mid-20s), broader metals rotation supportive amid commodity demand; FedWatch steady rates, USD soft • Data quality check: Realtime from Yahoo, consistent across sources Observation: Tape shows building bid support, but thin float could amplify swings—energy holding post-open. ⸻ Fundamentals Snapshot • Core products and business model: Exploration-stage focus on scandium via Crater Lake (96 claims, 47 sq km, Quebec); also gold/base metals at Opawica and La Ronciere; revenue minimal from minor ops, model hinges on project advancement to production • Latest quarter metrics: Revenue TTM 23k CAD, gross profit 4.89k, operating loss -1.91M (EBITDA), EPS -0.010, cash 397k, total debt 389k (low burn rate ~650k operating CF outflow TTM) • Valuation snapshot: Market cap 55M CAD, EV 53.5M, P/S 2.14k, P/B 4.16, EV/EBITDA -9.62 (speculative, tied to resource potential) • Dilution watch: No recent S-3 equivalents (Canadian filer), ATMs, warrants, or convertibles flagged; shares out 335M stable, but explorers often tap markets—monitor SEDAR filings • Recent filings or news impacting fundamentals: Sept 2025 alloy update, Nov 2025 commercialization plan; name change Feb 2024 from Imperial Mining; Crater Lake resource expanding per updates Confidence statement: “Fundamental picture moderately strong — clean balance sheet with low debt, but valuation speculative and dependent on Crater Lake milestones.” Backtest insight: Biotech/mining peers post-resource updates (e.g., VTM.ASX scandium breakthrough) averaged +80-100% in 3-6 months, though failures dilute 50%+. ⸻ Positioning and Ownership • Float 275M, short % unavailable (low-signal, likely minimal given cap), borrow fee est. standard/low, institutional activity nil (0% holdings), insider trading quiet (no recent buys/sells per TMX/SEDI) • Identify large holders or notable shifts: Insiders hold 1.64% total, no major institutions; Naskapi Nation 5% stake per older news, but unconfirmed recent • Lockups or float expansions: None active; prior funding rounds absorbed without major overhang • Cross-reference short interest vs volume trends: Volume uptrend suggests no heavy short pressure; borrow rates not elevated per general scans Confidence statement: “Ownership picture fresh and verifiable — modest short base, retail-heavy float.” Observation: Institutions absent, insiders dormant, borrow unremarkable—setup favors retail-driven pops on news. ⸻ Technicals • 20 SMA 0.135, 50 SMA 0.109, 200 SMA 0.050; RSI 68 (neutral/overbought edge); ATR unavailable but implied volatility high given beta 2.45 • Anchored VWAPs from last earnings and major PRs: Not directly available, but post-alloy update (Sept 2025) VWAP ~0.12; earnings anchor ~0.14 • Key support/resistance levels and open gaps: Support 0.112 (pivot S1), resistance 0.187 (R1); no major unfilled gaps, but overhead from 0.17 high • Chart structure: Breakout from multi-year base, coiling above SMAs—momentum favors upside resolution • Options surface: No chain (TSXV micro-cap, illiquid/no options traded); IV rank/skew/OI walls n/a Confidence statement: “Technicals clean — downtrend broken, RSI in expansion zone, structure favors swing breakout.” Backtest insight: “Similar base breakouts in scandium peers historically resolved +100% within 60 days post-catalyst.” ⸻ Catalyst Map • Upcoming company catalysts: Q1 2026 earnings (projected Jan 21), Crater Lake PFS progress (H1 2026), potential alloy commercialization milestones (ongoing) • Macro events relevant to the sector: Scandium demand surge (market to $1.2B by 2032 per forecasts), CPI/Fed decisions impacting commodities, policy shifts in critical minerals (e.g., US/Canada supply chain incentives) • Freshness tags for each event: Earnings [FRESH], PFS [FRESH], Macro [FRESH] Confidence statement: “Catalyst calendar strong near-term — PFS window and scandium market tailwinds ahead.” Observation: “Stacked project updates within 6 months could compound if scandium prices firm (est. +8-10% CAGR demand).” ⸻ Flow and Underground Sentiment • Options flow and dark pool data: Unavailable (no options market) • Retail chatter across Reddit, X, StockTwits: Building on X (e.g., “pressure building, top could blow,” “above 0.21 big move”); Reddit mentions tied to scandium sector hype; StockTwits low volume but bullish • Identify organic vs coordinated activity: Organic, tied to project news and peer plays (e.g., HWK, VTM.ASX) • Assess alignment between retail and institutional sentiment: Retail positive/increasing, institutions neutral (0% holdings) Confidence statement: “Retail sentiment high, dark flow n/a, no signs of orchestrated pump.” Observation: “Social chatter spiking on PFS anticipation, aligning with volume uptick—stabilizing around resource expansion bets.” ⸻ Thesis Stress Test • Bull case dies if: PFS delays >6 months or negative resource update • Bear case dies if: Positive PFS confirms economic viability, scandium demand accelerates • Base case assumes: Steady execution on Crater Lake without major funding gaps • Historical analogs (3 comparable setups, time-to-resolution): VTM.ASX post-breakthrough +150% in 4 months; earlier scandium explorers +80% on alloy news (3-6 months); failures like delayed projects -50% in 2 months Confidence statement: “Thesis moderate conviction — risk balanced between burn rate and catalyst delivery.” Observation: “Break below 0.135 invalidates structure faster than fundamentals erode.” ⸻ Our POV At ~1x cash with low debt, SCD.V offers asymmetric upside in a tightening scandium market (demand CAGR ~9%, supply constrained), where Crater Lake could position it as a key North American producer amid global electrification push. Bull thesis requires PFS success and no dilution surprises, potentially driving 100%+ gains on analogs; bear risks center on exploration delays or commodity softness, but beta 2.45 amplifies macro tailwinds. Valuation at P/B 4.16 is premium to peers but justified if resource scales—overall tilt positive for momentum plays, though execution must hold. Observation: “At 1x cash, the risk/reward tilts positive if execution continues without dilution.” ⸻ Entry and Exit Plan Base Plan (Equity): • Entry triggers: Breakout above 0.17 (confirmation of highs) or pullback to 0.15 support • Sizing plan tied to ATR, IV rank, and liquidity: 1-2% portfolio max (high beta/vol), halve if volume <1M • Stop logic: Hard stop below 0.135 (SMA50), or soft trail at -10% from entry • Profit-taking tiers and targets: 1/3 at 0.187 (R1), 1/3 at 0.21 (multi-year overhead), remainder open to 0.30 on PFS pop • Time horizon: Swing (30-60 days) tied to catalysts • Hedge or pair if needed: Pair with short sector ETF (XME) if macro fades Confidence statement: “Plan carries medium conviction — structure favors 30-day swing with defined stops.” Observation: “Entry on confirmation only; avoid pre-breakout guessing.” Alternative Structures: • Equity + protective puts: N/a (no options) • Call spreads or synthetic long: N/a • Pairs trade: Long SCD.V / short peer if relative strength wanes • Laddered entries: 50% at breakout, 50% on dip ⸻ Risks to Plan • Funding/dilution, legal (permitting delays), supplier (scandium processing tech), regulatory (Quebec mining rules), macro (commodity downturn), liquidity (thin float spikes) • SSR/LULD sensitivity: Halve size if triggered, widen stops 20% • Describe first-, second-, and third-order risk cascades: First: PFS delay hits sentiment (price -20%); second: Forces dilution (float expands, -30% further); third: Retail exodus cascades to illiquid selloff (-50% total) Observation: “Biggest threat remains macro commodity rotation; project delays secondary.”

Keep researching

SCD, PFS and SCD.V: what the terms mean here

SCD is the ticker root for Scandium Canada, the .V suffix marks a TSX Venture Exchange listing, and PFS is the pre-feasibility study stage for Crater Lake. Put together, “SCD PFS” is shorthand traders use for that study and the news flow around it. Plenty of other things share the SCD and PFS letters, so if your search turned up oncology trials or federal HR pages, that is a different topic.

What a pre-feasibility study means for a mining explorer

A pre-feasibility study is the middle step between “there is something in the ground” and “we can build a mine.” Explorers usually move through a resource estimate, then a preliminary economic assessment (PEA), then a PFS, then a full feasibility study, and only after that do permitting and construction financing come together. Each step uses more drilling, more engineering and more conservative assumptions than the one before. Our PEA vs PFS vs feasibility study guide walks through the differences.

For a stock like SCD.V, a PFS can cut both ways. A solid result can bring attention and volume. But studies cost money, and explorers often raise cash around big milestones, which can mean new shares hitting the float. If that part is new to you, read share dilution explained and how TSXV private placements work.

Crater Lake PFS timeline

As of this post’s data date (January 5, 2026), the catalyst map above lists Crater Lake PFS progress for H1 2026. Treat that as guidance, not a promise. Study timelines for small explorers slip often because of lab work, engineering scope changes or funding. The best places to watch for updates are Scandium Canada’s own news releases and its filings on SEDAR+.

If you are looking for a PFS PDF, there is nothing to download until the company actually publishes the study. Once it does, the technical report gets filed on SEDAR+ and usually posted on the company website. Here is how to search SEDAR+ filings.

Limits of a pre-feasibility study

A PFS is not a decision to build a mine. Its cost and recovery estimates are still looser than a full feasibility study, so the numbers can change a lot later. After a PFS the company still needs a feasibility study, permits and a way to fund construction, and any of those can stall a project.

SCD PFS questions traders ask

Where does SCD.V trade and in what currency?

SCD.V trades on the TSX Venture Exchange and is priced in Canadian dollars. Whether you can buy it from India, the US or anywhere else depends on your broker’s access to Canadian venture listings, so check with them directly. Our TSX vs TSXV vs CSE explainer covers how the venture exchange differs.

Why do older posts use a different company name?

Scandium Canada traded as Imperial Mining before its name change in Feb 2024. Reddit threads and news from 2023 and earlier will mostly use the Imperial Mining name, so search both when digging into history.

What does Reddit say about SCD.V and the PFS?

Most chatter centers on broad themes: scandium supply, aerospace and battery demand, the alloy work and when the PFS might land. Treat that as a map of what people are excited about, not as evidence. Social posts rarely cite filings, and hype around thin venture stocks can fade fast. Check claims against company releases and our pump and dump red flags list.

How do I check if SCD.V is raising money around the PFS?

Read the company’s financing news releases and the matching SEDAR+ filings, and watch for private placements, warrants or shares-for-debt deals. Canadian placements also come with resale hold periods, explained in our TSXV hold period guide.

Want to see how other traders read setups like this in real time? Join the Fockets trading Discord for free, or trace the filing behind any move on the Fockets Terminal.

If you trade Canadian names like this one, our Canadian stocks Discord is where members pull the SEDAR+ filings before they talk price.

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