Talon Metals Reports Results for the Quarter
Talon Metals Reports Results for the Quarter
Ended June 30, 2020
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - August 14, 2020) -
Talon Metals Corp.
(TSX: TLO) ("
Talon
" or the "
Company
") reported a net loss for the three months ended June 30, 2020
of $0.3 million or $nil per share (basic and diluted), which was primarily the result of administration
expenses.
This compares to a net loss for the three months ended June 30, 2019 of $0.8 million or $nil per share
(basic and diluted), which was primarily the result of administration expenses and stock option
compensation expense.
The Company's net loss for the six-month period ended June 30, 2020 was $0.9 million or $nil per share
(basic and diluted).
This compares to a net loss of $3.7 million or $0.01 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, 2020 amounted to $1.3 million.
This compares to $1.5 million for
the three months ended June 30, 2019.
The total capitalized exploration cost on the Tamarack Nickel-
Copper-Cobalt Project to June 30, 2020 amounts to $59.7 million (or US$43.8 million).
Condensed Interim Consolidated Financial Statements for the three and six months ended June 30,
2020 and 2019, together 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 base metals company in a joint venture with Rio Tinto on the high-grade Tamarack
Nickel-Copper-Cobalt Project located in Minnesota, USA, comprised of the Tamarack North Project and
the Tamarack South Project. Talon has an earn-in to acquire up to 60% of the Tamarack Project. The
Tamarack Project comprises a large land position (18km of strike length) with numerous high-grade
intercepts outside the current resource area. Talon is focused on expanding its current high-grade nickel
mineralization resource prepared in accordance with NI 43-101; identifying additional high-grade nickel
mineralization; and developing a process to potentially produce nickel sulphates responsibly for
batteries for the electric vehicles industry. Talon 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:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email:
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https://www.newsfilecorp.com/release/61763