Talon Metals Corp. (TSX:TLO) said it has filed a final short form base shelf prospectus with the securities regulatory authorities in Canada to provide the firm with the flexibility to take advantage of financing opportunities as they may arise.
Under the prospectus, Talon said it may issue common shares, debt securities, subscription receipts or warrants or any combination of such securities as units, in amounts, at prices, and on terms to be determined based on market conditions at the time of sale and outlined in an accompanying prospectus supplement, for a total offering amount of up to C$90 million during the 25 months that the prospectus remains effective.
"While the Talon team continues to progress the high-grade Tamarack nickel project towards permitting and production, global capital markets can change quickly due to macro events unrelated to project development," the company’s president Sean Werger said in a statement.
"Over the next 25 months, the base shelf prospectus will ensure that Talon is front footed in the capital markets and ready to close on capital raisings quickly when access to capital is available at reasonable terms,” he added.
TSX-listed Talon is in a joint venture with Rio Tinto on the high-grade Tamarack nickel-copper-cobalt project located in central Minnesota, with an earn-in to acquire up to 60% of the project.
The Tamarack project comprises a large land position (18 kilometres of strike length) with numerous high-grade intercepts outside the current resource area.
Talon is focused on expanding its current high-grade nickel mineralization resource, identifying additional high-grade nickel mineralization, and developing a responsible processing capability in the US. It has a well-qualified exploration and mine management team with extensive experience in project management.
Contact the author at stephen.gunnion@proactiveinvestors.com