Talon Metal Corp. - TLOFF stock
OTC Symbol: TLOFF | OTC Tier: Pink Current | Related ticker symbols: TSX:TLO
Introduction[edit]
Talon Metal Corp (OTC: TLOFF, TSX: TLO)is a British Virgin Islands-based mineral exploration company operating in Brazil and the United States. The company focuses on the exploration and development of based mineral properties in the Tamarack nickel-copper-platinum group elements (PGE) project (the Tamarack Project) in Minnesota, the United States. The Tamarack Project consists of Tamarack North Project and the Tamarack South Project. Talon currently owns 51% and holds an earn-in right to acquire up to 60% of the Tamarack Nickel Project. The firm also has a right to purchase an 80% interest in the mineral rights over a land package covering an area of approximately 4,00,000 acres located in the Upper Peninsula of the State of Michigan. It also holds interests in Trairao Project in Brazil. The company was founded on January 1, 2005. Talon is listed on TSX. Its shares are publicly traded in the US over the OTC market under the symbol TLOFF.[1]
Business Operations[edit]
The company is currently focused on exploration and mining activities in the Tamarack Project, comprising Tamarack North Project and the Tamarack South Project. Talon is in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project. The project comprises a large land position, 18km of strike length, with high-grade intercepts surrounding the current resource area. The company is dedicated to achieving a milestone of immediate goals which include: (i) expanding and infilling the current high-grade nickel mineralization resource prepared following NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex.
The company has an active agreement with Tesla Inc. to supply the latter with 75,000 metric tonnes of nickel in concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over an estimated duration of six years one Talon has achieved commercial level. Talon’s operations are propelled by its ell-qualified experienced exploration, mine development, external affairs, and mine permitting teams.[2]
Tamarack Intrusive Complex[edit]
Rio Tinto Group, the world's second-largest metals, and mining corporation made the first discovery of the site in 2008. Exploration activities advanced after the sale of the Eagle Project to Lundin Mining. Talon Metals was appointed by Rio Tinto as the project operator in October 2019. The move came as reinforcement of an innovative joint operation agreement to continue with exploration activities before driving the project to a feasibility study. Talon carried out its first exploration scheme in 2020, intercepting 38 meters of high-grade massive sulfide mineralization with a 7.80NiEq weighted average grade.[3]
Critical News and Updates for Investors[edit]
Talon reported on September 26, 2022, that the company and Fleet Space Technologies had entered an agreement to pilot Fleet's ExoSphere rapid mineral exploration solution at Talon's exploration projects in Minnesota and Michigan. Talon is extremely determined to explore high-grade nickel deposits and provide the domestic battery supply chain with nickel and other battery materials needed to fuel the energy transition. Henri von Rooyen, CEO of Talon, expressed his delight echoing Fleet’s impressive advanced seismic tomography approach to mineral discovery that would robustly help the company find more high-grade nickel.[4]
On September 22, 2022, the company announced that it had achieved a new record drill hole result from its Tamarack Nickel-Copper-Cobalt Project. A drill core from one of the holes showed 23.44 meters of massive sulfide grading 6.04% Ni and 2.85% Cu from 453.73 meters depth in the Main Zone of the Tamarack resource area. The new assays displayed the continuity and thickness of the high-grade nickel and copper, massive sulfide zone, and the separate semi-massive sulfide zones.[5]
Talon reported its financial and operational results for the second quarter ended June 30, 2022, on August 15, 2022. Financial highlights of the quarter include:
- Net loss of $0.1 million or nil per share (basic and diluted), compared to $2.2 million or nil per share for the same quarter in 2021
- Interest income was $4,693 compared to $3,638 in the previous year
- Foreign currency translation resulted in gains of $853,602 compared to losses of $344,222 in the second quarter of 2021[6]
Management[edit]
From Talon Metals website [7].
- Henri van Rooyen, CEO
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- Was previously a member of Tau Capital, where he oversaw a new business evaluation process and implemented exploration and development programs for mineral projects in countries across Africa and South America
- Before joining Tau, he was President & CEO of Groopman, the firm that built the largest silica mine in South Africa and one of South Africa's largest offshore diamond exploration projects
- Sean Werger, President
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- Was previously a member of Tau Capital where he served as General Counsel and Managing Director of Mergers & Acquisitions
- He was a litigator with Lax O'Sullivan Scott LLP before moving to Tau
- Obtained his LL.B and MBA degrees from Osgoode Hall Law School and Schulich School of Business, respectively
- Vince Conte, CFO
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- Previously the Vice President of Corporate Development and Financial Evaluation at Tau Capital
- Was a Senior Manager with Deloitte LLP in Toronto, before joining Tau
- He achieved his Bachelor of Mathematics and Master of Accounting degrees from the University of Waterloo
- He is also a Chartered Professional Accountant (CPA, CA), CFA, and CBV
- Mark Groulx, Vice President, Mine Engineering
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- A mining engineer with more than 20 years of global mining experience
- Held senior ranks since 2008 with Rio Tinto, Amec Foster Wheeler, and PT Freeport Indonesia before joining Talon Metals
- Considered an expert in mine project evaluation and delivering front-end engineering studies
- Obtained his B.Sc.E in Mining Engineering from Queen’s University and an MBA from the University of Arizona. He is also a licensed professional engineer in Ontario and Arizona
Talon Metals ESG[edit]
From Talon Metals website [8].
Environmental Safety[edit]
To minimize adverse operational impacts on the environment, Talon employs modern techniques and best management practices. All the company’s employees and contractors are subject to mandatory safety inductions and are expected to adhere to strict guidelines to ensure the safety of both employees and the environment.
Community Engagement[edit]
The company practices an open-door policy where anyone can stop by the company to have a tour and learn more about its underlying projects. Talon maintains high transparency by answering all questions from local groups and keeping them informed on developing project activities. The firm further produces and distributes quarterly newsletters to local groups, providing updates on new developments.
- ↑ Talon Metals Corp Company Profile – Investing.com. Accessed on 10/13/2021.
- ↑ talonmetals.com/About Talon Metals – Talon Metals official Website.
- ↑ 21st Century High-Grade Ni Discoveries – Nickel Metals website. Retrieved on 10/13/2022
- ↑ US EV Battery Supply Chain: Talon and Fleet Space to Pilot Satellite-Enabled Mineral Exploration Technology in the U.S. – Yahoo Finance. Retrieved on 10/13/2022.
- ↑ Talon Metals drills record intercept at Minnesota nickel project – Seeking Alpha News. Accessed on 10/14/2022.
- ↑ Talon Metal Corp Management’s Discussion and Analysis For the three and six months ended June 30, 2022 – Sedar.com Retrieved on 10/14/2022.
- ↑ talonmetals.com/management/ - Talon Metals website. Accessed on 10/14/2022
- ↑ talonmetals.com/what-environmental-safety-precautions-are-in-place/ - Talon Metals website.
