Talon Metals Reports Third Quarter 2011 Results
Nov 14, 2011
Road Town, Tortola, British Virgin Islands (Nov 14, 2011) - Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) reported a net loss from continuing operations for the three month period ended September 30, 2011 of $2.9 million or $0.03 per share (basic and diluted). Net loss from continuing operations for the nine month period was $11.3 million or $0.13 per share (basic and diluted).
This compares to net loss from continuing operations of $0.4 million or $0.01 per share (basic and diluted) for the three months ended September 30, 2010 and net loss of $5.8 million or $0.11 per share (basic and diluted), for the first nine months of last year.
Capitalized exploration excluding discontinued operations for the three and nine month periods ended September 30, 2010, amounted to $5.2 million and $11.5 million respectively. This primarily relates to the Trairão Iron Project. This compares to $0.5 million and $1.5 million, respectively, for the three and nine month periods last year.
Consolidated Interim Financial Statements for the three and nine months ended September 30, 2011, 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 its portfolio of iron projects in Brazil. At the Trairão Iron Project, drilling for mineral resources, as well as metallurgical studies and various mining, environmental and logistics studies are ongoing. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.
For additional information on Talon please visit the Company's website at www.talonmetals.com or contact: