ROAD TOWN, Tortola, British Virgin Islands, Nov. 14, 2011 /CNW/ - Talon
Metals Corp. ("Talon" or the "Company") (TSX: TLO) reported a net loss
from continuing operations for the three month period ended September
30, 2011 of $2.9 million or $0.03 per share (basic and diluted). Net
loss from continuing operations for the nine month period was $11.3
million or $0.13 per share (basic and diluted).
This compares to net loss from continuing operations of $0.4 million or
$0.01 per share (basic and diluted) for the three months ended
September 30, 2010 and net loss of $5.8 million or $0.11 per share
(basic and diluted), for the first nine months of last year.
Capitalized exploration excluding discontinued operations for the three
and nine month periods ended September 30, 2010, amounted to $5.2
million and $11.5 million respectively. This primarily relates to the
Trairão Iron Project. This compares to $0.5 million and $1.5 million,
respectively, for the three and nine month periods last year.
Consolidated Interim Financial Statements for the three and nine months
ended September 30, 2011, along with Management's Discussion and
Analysis, have been filed on SEDAR and are available at www.sedar.com.
Talon is a TSX-listed company focused on the exploration and development
of its portfolio of iron projects in Brazil. At the Trairão Iron
Project, drilling for mineral resources, as well as metallurgical
studies and various mining, environmental and logistics studies are
ongoing. The Company has a well-qualified exploration and management
team with extensive experience in exploration and project management.
SOURCE Talon Metals Corp.
For further information:
For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243