Talon Metals Reports Results for the Quarter
Talon Metals Reports Results for the Quarter
Ended September 30, 2020
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - November 13, 2020) - Talon Metals Corp.
(TSX: TLO) ("
Talon
" or the "
Company
") reported a net loss for the three months ended September 30,
2020 of $0.5 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 September 30, 2019 of $0.5 million or $nil per
share (basic and diluted), which was primarily the result of administration expenses offset by a reduction
in contingencies and the fair value revaluation of a royalty put option held by 10782343 Canada Limited,
a subsidiary of Triple Flag Mining Finance Bermuda Ltd.
The Company's net loss for the nine month period ended September 30, 2020 was $1.3 million or $nil
per share (basic and diluted).
This compares to a net loss of $4.2 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 September 30, 2020 amounted to $2.3 million.
This compares to $0.8 million
for the three months ended September 30, 2019.
The total capitalized exploration cost on the Tamarack
Nickel-Copper-Cobalt Project to September 30, 2020 amounts to $60.7 million (or US$45.5 million).
Condensed Interim Consolidated Financial Statements for the three and nine months ended September
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/68201