ROAD TOWN, Tortola, British Virgin Islands, May 14, 2014 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported net income for the three month period ended March 31, 2014 of $19,082 or $nil per share (basic and diluted). This was primarily the result of investment and foreign currency gains that were offset by project evaluation, due diligence and administration expenses.
This compares to a net loss of $1.3 million or $0.01 per share (basic and diluted) for the three months ended March 31, 2013, which was primarily the result of project evaluation, due diligence, administration expenses and the Company's share of loss in Tlou Energy Limited.
Capitalized exploration cost on the Trairão Iron Project for the first quarter of 2014 amounted to $65,597. This compares to $0.4 million for the same period in 2013. The total capitalized exploration cost on the Trairão Iron Project to March 31, 2014 amounts to $17.6 million.
Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2014, 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 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: 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 x2247, Email: [email protected]