Talon currently holds a 51% interest in the Tamarack project, comprising a large land position (18 km of strike length) with numerous high-grade intercepts outside the current resource area. The focus is to expand this nickel mineralization resource and develop a responsible processing capability in the US.
The Tesla supply agreement is conditional upon Talon earning an additional 9% interest in the Tamarack project (for a total of 60%) and moving the project towards commercial production.
Tesla also has a preferential right to negotiate for the purchase of additional nickel concentrate over and above the initial 75,000-tonne commitment.
By market close Tuesday, Talon’s stock erased some of its gains, but still traded up 23.3% at C$0.74 a share. The nickel miner has a market capitalization of approximately C$515 million.
