ROAD TOWN, Tortola, British Virgin
Islands, Aug. 13, 2014 /CNW/
- Talon Metals Corp., ("Talon" or the "Company") (TSX:
TLO) reported a net loss for the three month period ended
June 30, 2014 of $1.0 million or $0.01 per share (basic and diluted). This
was primarily the result of project evaluation and due diligence
expenses, administration expenses and foreign currency losses.
This compares to a net loss of $3.6
million or $0.04 per share
(basic and diluted) for the three months ended June 30, 2013, which was primarily the result of
project evaluation and due diligence expenses, administration
expenses and losses related to Tlou Energy Limited.
The Company's net loss for the six month period ended
June 30, 2014 was $1.0 million or $0.01 per share (basic and diluted). This
compares to a net loss of $4.9
million or $0.05 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 six
months ended June 30, 2014 amounted
to $1.9 million. This amount
also represents the total capitalized cost to June 30, 2014.
Capitalized exploration costs and deferred expenditures on the
Trairão Iron Project for the three and six months ended
June 30, 2014 amounted to
$66,000 and $0.1 million, respectively. This compares
to $0.3 million and $0.7 million for the same periods last
year. The total capitalized cost on the Trairão Iron Project
to June 30, 2014 amounts to
$17.7 million.
Condensed Consolidated Interim Financial Statements for the
three and six months ended June 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.
