Talon Metals Reports Third Quarter 2014 Results

TSX:TLO

ROAD TOWN, Tortola, British Virgin Islands, Nov. 14, 2014 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported a net loss for the three month period ended September 30, 2014 of $0.9 million or $0.01 per share (basic and diluted), which was primarily the result of administration expenses and stock option compensation payments.

This compares to a net loss of $0.6 million or $0.01 per share (basic and diluted) for the three months ended September 30, 2013, which was primarily the result of administration expenses, project evaluation and due diligence expenses offset by a gain related to the investment in Tlou Energy.

The Company's net loss for the nine month period ended September 30, 2014 was $1.8 million or $0.02 per share (basic and diluted).  This compares to a net loss of $5.5 million or $0.06 per share (basic and diluted) for the same period in the prior year.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Platinum Project for the three and nine months ended September 30, 2014 amounted to $3.9 million and $5.8 million, respectively.  The total capitalized cost on the Tamarack Nickel-Copper-Platinum Project to September 30, 2014 amounts to $5.8 million.

Capitalized exploration costs and deferred expenditures on the Trairão Iron Project for the three and nine months ended September 30, 2014 amounted to $0.2 million and $0.3 million, respectively.  This compares to $0.2 million and $0.9 million for the same periods last year.  The total capitalized cost on the Trairão Iron Project to September 30, 2014 amounts to $17.9 million.

Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2014, along 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-Platinum Project in Minnesota, USA and the Trairão Iron Project in Parà State, Brazil. The Company has a well-qualified exploration and mine management team with extensive experience in project management. 

SOURCE Talon Metals Corp.