Telson Mining Corporation is a Canada-based mining company that owns two gold, silver, and base metal mine projects in Mexico, including the Tahuehueto project in Durango State, Mexico. On November 19, 2020, Telson Mining announced having begun to transport 3,500 tonnes of ore from its Tahuehueto Gold Project for toll milling at the Atocha toll mill. Processing of the ore to recover gold, silver, lead, and zinc will begin upon the completion of transport.
Telson Mining Corporation’s shares are exchanged on the TSXV (under the symbol TSN), OTC exchange, and Frankfurt exchange. As of November 19, 2020, Telson Mining had a market capitalization of approximately $26,304,146. Over a 52-week period, Telson Mining’s shares closed at a price ranging from a low to high of $0.04 and $0.325 respectively. On November 19, 2020, Telson Mining’s shares were trading at $0.15/share.
Telson is constructing a processing plant at the Tahuehueto project to extract zinc, gold, silver, and lead from ore derived from the project. Construction of the processing plant and related facilities at the Tahuehueto project is approximately 70% complete. Completion of development and construction is pending funding. Notwithstanding the incomplete construction of its own processing facility, Telson is proceeding with the processing of ore through a toll milling arrangement. Toll milling is custom milling performed at a third party’s site for a fee — called a “toll.” Telson has previously completed 11 rounds of toll milling totalling 42,320 tonnes of ore in 2018 and 2019. The tolling of that 42,320 tonnes of ore produced: 1,286 tonnes of lead concentrates (including significant volumes of gold and silver); and 2,850 tonnes of zinc concentrates.
Telson anticipates completing construction of its own processing facility at its Durango State, Mexico project in 2021, within eight months to a year of securing the necessary funding for the project. The project is designed to allow the processing of 1,000 tonnes of ore daily through its own facility.