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Road Town, Tortola, British Virgin Islands – (Newsfile Corp. – May 14, 2021) – Talon Metals Corp. (TSX: TLO) (“Heel“or the”Company“) reported a net loss for the quarter ended March 31, 2021 of $ 0.8 million or nil per share (basic and diluted), primarily attributable to administration costs and compensation for call options. ‘shares, offset by a gain on the fair value revaluation of a put option on a royalty.
This compares to a net loss for the three months ended March 31, 2020 of $ 0.5 million or nil per share (basic and diluted), primarily attributable to administration costs.
The capitalized exploration costs and deferred expenses for the Tamarack Nickel-Copper-Cobalt project for the three months ended March 31, 2021 were $ 6.4 million. This compares to $ 3.9 million for the quarter ended March 31, 2020. The total capitalized exploration cost of the Tamarack Nickel-Copper-Cobalt project as of March 31, 2021 is $ 66.4 million.
The condensed interim consolidated financial statements for the three months ended March 31, 2021 and 2020, as well as the management report have been filed on SEDAR and are available at the following address: www.sedar.com.
All amounts are presented in Canadian dollars.
Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high end Tamarack Nickel-Copper-Cobalt Project located in Minnesota, USA, comprising the Tamarack North Project and the Tamarack South Project. Talon has a counterparty to acquire up to 60% of the Tamarack project. The Tamarack project includes a large land position (18 km longitudinal length) with numerous high grade intersections outside the current resource zone. Talon Focuses on Expanding its Existing High Grade Nickel Mineralization Resource Prepared in Accordance with NI 43-101; identify additional high grade nickel mineralization; and the development of a process to potentially responsibly produce nickel sulfates for batteries for the electric vehicle industry. Talon has a well-qualified mining exploration and management team with extensive project management experience.
For more information on Talon, please visit the company’s website at www.talonmetals.com or contact:
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84171