Road Town, British Virgin Islands--(Newsfile Corp. - August 14, 2019) - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") reported a net loss for the three months ended June 30, 2019 of $0.8 million or nil per share (basic and diluted). This compares to a net loss for the three months ended June 30, 2018 of $2.4 million or $0.02 per share (basic and diluted). The loss during the three months ended June 30, 2019 was primarily the result of administration expenses and stock option compensation expense. The loss during the three months ended June 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 six month period ended June 30, 2019 was $3.7 million or $0.01 per share (basic and diluted). This compares to a net loss of $4.4 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-Cobalt Project for the three months ended June 30, 2019 amounted to $1.5 million. This compares to $0.2 million for the three months ended June 30, 2018. The total capitalized exploration cost on the Tamarack Nickel-Copper-Cobalt Project to June 30, 2019 amounts to $48.7 million.
Condensed Consolidated Interim Financial Statements for the three and six months ended June 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 producing nickel responsibly for the electric vehicles industry. The high-grade Tamarack Ni-Cu-Co Project is located 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) 361-9636 x102
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