ROAD TOWN, Tortola, British Virgin Islands, March 31, 2014 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported a net loss for the year ended December 31, 2013 of $7.2 million or $0.08 per share (basic and diluted), which was primarily the result of project evaluation, due diligence and administration expenses, as well as losses associated with the Company's investment in Tlou Energy. This compares to a loss of $18.4 million in 2012 or $0.20 per share (basic and diluted), which was due to similar factors.
Capitalized exploration costs on the Trairão Iron Project for the year amounted to $0.9 million. This compares to $2.6 million for the year ended December 31, 2012. The total capitalized exploration cost on the Trairão Iron Project to December 31, 2013 amounts to $17.6 million.
Consolidated Audited Financial Statements for the years ended December 31, 2013 and 2012, 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.
Talon is a TSX-listed company focused on the exploration and development of the Trairão Iron Project in Brazil. The Company has a well-qualified exploration and mine management team with extensive experience in project management.
SOURCE: Talon Metals Corp.
For further 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 x247, Email: email@example.com