Talon Metals Reports Results for the Year
Talon Metals Reports Results for the Year
Ended December 31, 2022
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - March 31, 2023) - Talon Metals Corp. (TSX:
TLO) ("
Talon
" or the "
Company
") reported a net loss for the year ended December 31, 2022 of $1.5
million or nil per share (basic and diluted), which was primarily the result of administration expenses and
stock option compensation offset by foreign currency gains.
This compares to a net loss for the year
ended December 31, 2021 of $5.5 million or $0.01 per share (basic and diluted), which was primarily
the result of administration expenses and stock option compensation.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project
for the year ended December 31, 2022 amounted to $52.9 million.
This compares to $38.0 million for
the year ended December 31, 2021.
The total capitalized exploration cost to the Tamarack Nickel-
Copper-Cobalt Project to December 31, 2022 amounts to $160.5 million.
Consolidated Financial Statements for the year ended December 31, 2022 and 2021, together with
Management's Discussion and Analysis 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 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 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
an agreement with Tesla Inc.
to supply it with 75,000 metric tonnes (165 million lbs) of nickel in
concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over
an estimated six-year period once commercial production is achieved. 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 $114m funding
grant from the Bipartisan Infrastructure Law.
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/160919