TSX:TLO
ROAD TOWN, Tortola, British Virgin
Islands, Nov. 14, 2014 /CNW/ -
Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported
a net loss for the three month period ended September 30, 2014 of $0.9
million or $0.01 per share
(basic and diluted), which was primarily the result of
administration expenses and stock option compensation payments.
This compares to a net loss of $0.6
million or $0.01 per share
(basic and diluted) for the three months ended September 30, 2013, which was primarily the
result of administration expenses, project evaluation and due
diligence expenses offset by a gain related to the investment in
Tlou Energy.
The Company's net loss for the nine month period ended
September 30, 2014 was $1.8 million or $0.02 per share (basic and diluted). This
compares to a net loss of $5.5
million or $0.06 per share
(basic and diluted) for the same period in the prior year.
Capitalized exploration costs and deferred expenditures on the
Tamarack Nickel-Copper-Platinum Project for the three and nine
months ended September 30, 2014
amounted to $3.9 million and
$5.8 million, respectively. The
total capitalized cost on the Tamarack Nickel-Copper-Platinum
Project to September 30, 2014 amounts
to $5.8 million.
Capitalized exploration costs and deferred expenditures on the
Trairão Iron Project for the three and nine months ended
September 30, 2014 amounted to
$0.2 million and $0.3 million, respectively. This compares
to $0.2 million and $0.9 million for the same periods last
year. The total capitalized cost on the Trairão Iron Project
to September 30, 2014 amounts to
$17.9 million.
Condensed Consolidated Interim Financial Statements for the
three and nine months ended September 30,
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 Tamarack Nickel-Copper-Platinum Project in
Minnesota, USA and the Trairão
Iron Project in Parà State, Brazil. The Company has a well-qualified
exploration and mine management team with extensive experience in
project management.
SOURCE Talon Metals Corp.