Talon Metals Reports Results for the Quarter
Talon Metals Reports Results for the Quarter
Ended March 31, 2024
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - May 15, 2024) - Talon Metals Corp. (TSX:
TLO)
("
Talon
" or the "
Company
") reported a net loss for the three months ended March 31, 2024 of
$0.3 million or nil per share (basic and diluted), which was primarily the result of administration expenses
offset by foreign currency gains.
This compares to a net loss for the three months ended March 31, 2023
of $0.6 million or nil per share (basic and diluted), which was primarily the result of administration
expenses offset by interest income.
Capitalized exploration and development costs and deferred expenditures on the Tamarack Nickel-
Copper-Cobalt Project for the three months ended March 31, 2024 amounted to $6.8 million.
This
compares to $11.7 million for the three months ended March 31, 2023.
The total capitalized exploration
cost to the Tamarack Nickel-Copper-Cobalt Project to March 31, 2024 amounts to $211.7 million.
Condensed Interim Consolidated Financial Statements for the three months ended March 31, 2024 and
2023, together with Management's Discussion and Analysis have been filed on SEDAR+ and are
available at
www.sedarplus.com
.
All amounts are presented in Canadian dollars.
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 central Minnesota. Talon's shares are also traded in the US
over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land
position (18km of strike length) with additional high-grade intercepts
outside the current resource area
.
Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%.
Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource
prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators,
and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex.
Talon has a
neutrality and workforce development agreement
in place with the United Steelworkers
union. Talon's Battery Mineral Processing Facility in Mercer County was
selected by the US Department
of Energy
for US$114.8 million funding grant from the Bipartisan Infrastructure Law and the
US
Department of Defense awarded Talon a grant of US$20.6 million
to support and accelerate Talon's
exploration efforts in both Minnesota and Michigan. Talon has well-qualified experienced exploration,
mine development, external affairs and mine permitting teams.
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:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/209349