Talon Metals Reports Results for the Quarter
Talon Metals Reports Results for the Quarter
Ended September 30, 2024
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - November 14, 2024) - Talon Metals Corp.
(TSX: TLO) ("
Talon
" or the "
Company
") reported a net loss for the three months ended September 30,
2024 of $0.6 million or nil per share (basic and diluted), which was primarily the result of administration
expenses and stock option compensation. This compares to a net loss for the three months ended
September 30, 2023 of $0.5 million or nil per share (basic and diluted), which was primarily the result of
administration expenses.
The Company's net loss for the nine months period ended September 30, 2024 was $1.6 million or nil
per share (basic and diluted).
This compares to a net loss of $1.7 million or nil per share (basic and
diluted) for the same period in the prior year.
Capitalized exploration and development costs and deferred expenditures on the Tamarack Nickel-
Copper-Cobalt Project for the three months ended September 30, 2024 amounted to a credit of $3.7
million, primarily the result of capitalized exploration and development costs and deferred expenditures
offset by a sale of a royalty for net proceeds of $10.5 million. This compares to capitalized exploration
and development costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project of
$11.4 million for the three months ended September 30, 2023.
The total capitalized exploration cost to
the Tamarack Nickel-Copper-Cobalt Project to September 30, 2024 amounts to $213.2 million.
Condensed Interim Consolidated Financial Statements for the three and nine months ended September
30, 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/230043