New Tesla Agreement Has Small Cap Bid Up Premarket

A Virgin Islands-based mineral company just made a huge announcement that has traders excited for Tuesday’s opening bell. The small cap just announced that through its U.S. subsidiary, the company has entered into an agreement with Tesla Inc. (NASDAQ:TSLA) for the supply and purchase of nickel concentrate. Shares of Talon Metals Corp (OTCPK:TLOFF) are massively bid up on the news during Tuesday’s premarket.

Talon Metals is a mineral exploration company. It is engaged in the exploration and development of the Tamarack nickel-copper-cobalt project in Minnesota. The company operates in one business segment, namely, mineral exploration and geographically in the United States of America and Brazil. Talon Metals also holds interests in Trairao Project in Brazil.

Traders appear to be bullish on the news as shares are currently bid at $0.80/share (+70.21% implied open for sellers) as we head into the final 15 minutes of Tuesday’s pre-market. This move would be flirting with a new 52-week high, which is currently set at $0.97/share.