Road Town, British Virgin Islands - November 8, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") reported a net loss for the three months ended September 30, 2018 of $1.7 million or $0.01 per share (basic and diluted). This compares to a net loss for the three months ended September 30, 2017 of $0.7 million or $0.01 per share (basic and diluted). The losses during both periods are primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses.
The Company's net loss for the nine month period ended September 30, 2018 was $6.1 million or $0.05 per share (basic and diluted). This compares to a net loss of $4.3 million or $0.03 per share (basic and diluted) for the same period in the prior year.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the three months ended September 30, 2018 amounted to $0.2 million. This compares to $0.1 million for the three months ended September 30, 2017. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to September 30, 2018 amounts to $39.5 million.
Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2018 and 2017, 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 the exploration and development of the Tamarack Nickel-Copper-Cobalt Project in Minnesota, USA (which comprises 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) 500-9891
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