Talon scraps plan to build North Dakota mill for Tamarack

AI desk brief

Talon Metals has scrapped plans for a new North Dakota mill for Tamarack and will instead evaluate processing the ore at its existing Humboldt facility in Michigan. Management and analysts said the move should cut upfront capex, lower financing needs and potentially shorten the development timeline; Talon is also in talks with the US Department of Energy over the future of a $114.8 million award tied to the abandoned North Dakota site.

The update comes after Talon reported its longest sulphide intercept yet at Tamarack, with 13.37% nickel, 16.54% copper, 0.10% cobalt, 7.85 g/t palladium, 14.49 g/t platinum and 8.56 g/t gold. Tamarack remains a long-dated project, with construction possible from 2029 and first production two years later, but the new processing plan reduces execution risk and keeps the project moving without a new third-jurisdiction permitting burden.