TSX:TLO
ROAD TOWN, Tortola, British Virgin Islands , Nov. 14, 2014 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TLO.TO) 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.