Pallinghurst ups nickel exposure after buying 19.2% of Talon Metals
(Kitco News) - Battery-metals focused Pallinghurst Group announced today that it bought 19.2% of Talon Metals (TSX:TLO).
The purchase price was about 60 cents per share for an aggregate of $80.1 million.
Talon Metals is advancing its Tamarack nickel-copper-cobalt project located in Minnesota, U.S. Talon has an earn-in to acquire up to 60% of the Tamarack project. If built the mine would be underground.
Over the past five days Talon Metals traded up 6% to 70 cents.
Pallinghurst has investments in Nouveau Monde Graphite, Nemaska Lithium and Sedibelo Platinum Mines. Pallinghurst said its focus is on investing in the entire value-chain of sustainably source battery and fuel cell materials.