Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - November 13, 2019) - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") reported a net loss for the three months ended September 30, 2019 of $0.5 million or nil per share (basic and diluted). This compares to a net loss for the three months ended September 30, 2018 of $1.7 million or $0.01 per share (basic and diluted). The loss during the three months ended September 30, 2019 was primarily the result of administration expenses. The loss during the three months ended September 30, 2018 was primarily the result of administration expenses and the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan.
The Company's net loss for the nine month period ended September 30, 2019 was $4.2 million or $0.01 per share (basic and diluted). This compares to a net loss of $6.1 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-Cobalt Project for the three months ended September 30, 2019 amounted to $0.8 million. This compares to $0.2 million for the three months ended September 30, 2018. The net capitalized exploration cost on the Tamarack Nickel-Copper-Cobalt Project to September 30, 2019 amounts to $49.5 million.
Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2019 and 2018, together with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
Talon is a TSX-listed company focused on expanding its current NI 43-101 resource of high-grade nickel mineralization; identifying additional high-grade nickel mineralization; and developing a process to potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry all within the United States. The high-grade Tamarack Nickel-Copper-Cobalt Project is located in Minnesota, USA, and comprises of the Tamarack North Project and the Tamarack South Project. The Company has a well-qualified exploration and mine management team with extensive experience in project management.
For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:
Talon Metals Corp.
Tel: (416) 361-9636 x102