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Talon Metals Cuts Royalty on the Tamarack Project; Shares up 6.2%

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Talon Metals (TLO.TO) reduced the existing net smelter returns royalty held by Triple Flag USA Royalties, a subsidiary of Triple Flag Precious Metals (TFPM.TO), on Talon's interest in the Tamarack Nickel-Copper-Cobalt Project in central Minnesota, it said Tuesday.

The combined net smelter returns royalties held by Triple Flag on Talon's interest in the Tamarack Project was reduced from 3.52% to 2.85% in exchange for a payment of $5 million to Triple Flag which was made on July 20, the company said.

"Reducing the royalty improves the project's long-term economics and allows Talon to retain more of the potential upside over the life of the project as the Tamarack Project advances through environmental review, permitting, technical studies, and development planning," said Talon's Chief Executive Officer Darby Stacey.

Talon Metals' shares were last seen up C$0.33 to C$5.64 on the Toronto Stock Exchange.

Price: $5.63, Change: $+0.32, Percent Change: +6.03%

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