Talon Reports Results for the Three Months Ended March 31, 2017
ROAD TOWN, BRITISH VIRGIN ISLANDS--(Marketwired - May 12, 2017) - Talon Metals Corp. ("Talon" or the "Company") (TLO.TO) reported a net loss for the three months ended March 31, 2017 of $1.9 million or $0.01 per share (basic and diluted), which was primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses.
This compares to net income for the three months ended March 31, 2016 of $1.8 million or $0.01 per share (basic and diluted), which was primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, offset by administration expenses and a loss on investments.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the three months ended March 31, 2017 amounted to $1.0 million. This compares to $21.2 million for the three months ended March 31, 2016. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to March 31, 2017 amounts to $38.1 million.
Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2017 and 2016, together with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
About Talon
Talon is a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.
