Talon Metals Reports Results for the Quarter Ended
Talon Metals Reports Results for the Quarter Ended
March 31, 2019
Road Town, British Virgin Islands--(Newsfile Corp. - May 15, 2019) - Talon Metals Corp. (TSX: TLO) ("
Talon
" or the
"
Company
") reported a net loss for the three months ended March 31, 2019 of $2.8 million or $0.01 per share (basic and
diluted), which was primarily the result of a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured
convertible loan (
"RCF Loan"
), stock option compensation and administration expenses.
This compares to a net loss for the three months ended March 31, 2018 of $2.0 million or $0.02 per share (basic and diluted),
which was primarily the result of a loss on the fair value revaluation of the RCF Loan and administration expenses.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project for the three months
ended March 31, 2019 amounted to $12.0 million before a recovery of $4.8 million related to the sale of a net smelter returns
royalty to a subsidiary of Triple Flag Mining Finance Bermuda Ltd.
This compares to $0.2 million for the three months ended
March 31, 2018.
The total net capitalized exploration cost on the Tamarack Nickel-Copper-Cobalt Project to March 31, 2019
amounts to $47.2 million.
Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2019 and 2018, 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 company focused on producing nickel responsibly for the electric vehicle 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:
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/44836