Talon Metals Reports Results for the Year
Talon Metals Reports Results for the Year
Ended December 31, 2020
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - March 30, 2021) - Talon Metals Corp. (TSX:
TLO) ("
Talon
" or the "
Company
") reported a net loss for the year ended December 31, 2020 of $2.7
million or $0.01 per share (basic and diluted), which was primarily the result of administration expenses.
This compares to a net loss for the year ended December 31, 2019 of $4.0 million or $0.01 per share
(basic and diluted), which was primarily the result of administration expenses, stock option
compensation and a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured
convertible loan.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project
for the year ended December 31, 2020 amounted to $10.4 million.
This compares to $17.3 million for
the year ended December 31, 2019.
The total capitalized exploration cost on the Tamarack Nickel-
Copper-Cobalt Project to December 31, 2020 amounts to $60.8 million.
Consolidated Audited Financial Statements for the years ended December 31, 2020 and 2019, together
with Management's Discussion and Analysis and the Company's Annual Information Form, have been
filed on SEDAR and are available at
www.sedar.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 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:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/78994