Why a Former GM Executive Left Automotive to Lead Scandium Canada

CEO.CA Sep 8, 2026 10:18

Summary

Bringing in a General Motors veteran signals a shift from building a mine to selling finished products downstream.

Thibault says the edge is a product automakers (OEMs) can insert directly, not a concentrate needing several more refining stages.

He argues buyers also need supply from an allied country, not just a competitive delivered price.

A 10,000m diamond drill campaign, funded by a recent $5 million raise, targets core sampling and 3km of southern expansion, ending in October.

Rolled aluminium-scandium coil is selling into this year's skis; aircraft and satellites remain the longer-term ambition.

Top takeaway Bourassa argues the handover timing is right because the recent acquisition of the commercial alloy unit confirms the mine-to-alloy-to-market direction the company set out on, and that leading that path calls for knowledge that was not his own.
He says the project has now entered a long development phase, and that it was the best moment to hand it to a younger generation able to take it forward.
In his new strategic advisory role he plans to make sure ongoing files do not fall through the cracks, keep the current pace, and make sure the new CEO has proper support.
He notes the site is in the middle of a 10,000 m diamond drilling campaign, says the visual results look interesting but still need to be confirmed by certificates of analysis, and aims to finish the campaign by the end of October 2026.
He sets out the campaign's three objectives: a mine representative sample across the deposit, already completed; at least 100 m of lateral extension north and south to add about 25% to the resource and enable a new resource estimate; and, funded by the $5 million financing completed in 2026, exploration targets to extend the T.G. zone roughly 3 km south toward the discovery area.

Top takeaway Lapointe says the first product from the alloy unit is rolled aluminum-scandium in coils for use as key reinforcement, and that Fenix now uses their aluminum in all of its new ski models for the year.
He targets airplanes and satellites next, and argues the attraction of the space market is that stronger alloys allow lighter components, reducing the weight of aircraft, satellites and rockets along with fuel consumption and carbon footprint.
He expects the incoming CEO's experience across the critical minerals value chain, and his knowledge of manufacturers and their qualification and purchasing requirements, to accelerate commercialization of the alloys in coming years.
He describes the unit's work as developing different aluminum-scandium alloys to answer the market needs seen in different industries.

Top takeaway Thibault says the deciding factor was that the company can provide a product matching a specification the market already demands, rather than an intermediate needing three or four extra refining stages — the pattern he kept meeting in his previous OEM role.
His second reason is the Crater Lake project as long-term supply security, including supply that cannot rely on a non-allied country.
He names his two priorities for the first 90 days: widen the client network and sell against the active alloy qualification pipeline while building the matching supply chain, and close out the economics and technical feasibility of Crater Lake now rather than treating it as a long-term item.
He agrees the move from mine to alloys is a different set of rules requiring different knowledge than his own, and frames the full mine-to-alloy offer as close to unique in the industry, with team building as the other near-term priority.