Talon Metals (TLO.TO) selected its existing Humboldt Mill in Michigan as the processing location for the Tamarack Nickel-Copper-Cobalt Project, following its evaluation of potential processing pathways for material from the project in central Minnesota, it said after markets closed Thursday.
The company is conducting a feasibility study to evaluate processing material from the Tamarack Project at Humboldt, it said. It expects to complete the feasibility study in the fourth quarter of 2026, Talon Metals said.
The company will not proceed with the construction of the Beulah Minerals Processing Facility in Mercer County, North Dakota, it added.
"The Humboldt Mill gives us the opportunity to build on an existing U.S. processing facility with a proven operational and environmental track record and a highly experienced workforce," said Talon Chief Executive Officer Darby Stacey. "As we evaluate the future development of the Tamarack Project, we see real value in making the best use of infrastructure we already own and maintaining skilled jobs and economic activity in Michigan."
The company's shares were last seen down CA$0.48, or 4.3%, to CA$10.72 on the Toronto Stock Exchange.
Price: $10.69, Change: $-0.51, Percent Change: -4.55%