ROAD TOWN, Tortola, British Virgin Islands, Nov. 14, 2013 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported a net loss for the three month period ended September 30, 2013 of $0.6 million or $0.01 per share (basic and diluted), which was primarily the result of administration expenses partially offset by an investment gain in Tlou Energy. This compares to a net loss of $1.7 million or $0.02 per share (basic and diluted) for the three months ended September 30, 2012, which was largely the result of administration expenses.
Net loss for the nine month period ended September 30, 2013 was $4.3 million or $0.05 per share (basic and diluted). This compares to a net loss of $4.5 million or $0.05 per share (basic and diluted) for the same period in the prior year.
Capitalized exploration costs on the Trairão Iron Project for the three and nine months ended September 30, 2013 amounted to approximately $0.2 million and $0.9 million, respectively. This compares to approximately $0.5 million and $2.3 million for the same periods last year. The total capitalized exploration cost on the Trairão Iron Project to September 30, 2013 amounts to $17.5 million.
Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2013, 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.
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For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
Talon Metals Corp.
Tel: (416) 361-9636 x247
Email: [email protected]