Talisker Resources (TSX: TSK) is walking away from a toll milling agreement that was in place with Nicola Mining (TSXV: NIM) earlier than planned. The company has served Nicola with a 60 day notice of termination for the milling agreement that is currently in place.
The termination of the arrangement follows Talisker entering into an ore purchase agreement with Ocean Partners on October 30. Originally intended to replace the Nicola arrangement at the end of the one-year term in May 2026, Talisker has seemingly advanced the scheduled start date of the ore purchase agreement to January 2026.
READ: Talisker To Ramp Production Following Ocean Partners Ore Purchase Arrangement
The ore purchase agreement with Ocean Partners will enable Talisker to significantly expand their rate of production. Under this new arrangement, Ocean Partners has agreed to purchase up to 1,500 tonnes per day of ore. The arrangement with Nicola comparatively allowed for 200 tonnes of ore to be processed per day, before the concentrate was provided to Ocean Partners UK Ltd.
“The decision to accelerate the transition to Ocean Partners is in line with Talisker’s planned increase of its production rate for 2026. We look forward to finalizing the Agreements with Ocean Partner that is planned to increase our milling capacity to up to 1,500 tpd. A 60-day notice of termination of the milling agreement with Nicola Mining Inc. has occurred,” commented Terry Harbort, CEO of Talisker.
Talisker Resources last traded at $1.37 on the TSX.
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