ROAD TOWN, Tortola, British Virgin
Islands, May 14, 2014 /CNW/ -
Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported
net income for the three month period ended March 31, 2014 of $19,082 or $nil per share (basic and diluted).
This was primarily the result of investment and foreign
currency gains that were offset by project evaluation, due
diligence and administration expenses.
This compares to a net loss of $1.3
million or $0.01 per share
(basic and diluted) for the three months ended March 31, 2013, which was primarily the result of
project evaluation, due diligence, administration expenses and the
Company's share of loss in Tlou Energy Limited.
Capitalized exploration cost on the Trairão Iron Project for the
first quarter of 2014 amounted to $65,597. This compares to $0.4 million for the same period in 2013.
The total capitalized exploration cost on the Trairão Iron Project
to March 31, 2014 amounts to
$17.6 million.
Condensed Consolidated Interim Financial Statements for the
three months ended March 31, 2014,
along with Management's Discussion and Analysis, have been filed on
SEDAR and are available at www.sedar.com.
About Talon
Talon is a TSX-listed company focused on the exploration and
development of the Trairão Iron Project in Brazil. The Company has a well-qualified
exploration and mine management team with extensive experience in
project management.
SOURCE Talon Metals Corp.