TALON METALS REPORTS RESULTS FOR THE QUARTER ENDED MARCH 31, 2019
Road Town, British Virgin Islands (May 15, 2019) – Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) reported a net loss for the three months ended March 31, 2019 of $2.8 million or $0.01 per share (basic and diluted), which was primarily the result of a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan (“RCF Loan”), stock option compensation and administration expenses.
This compares to a net loss for the three months ended March 31, 2018 of $2.0 million or $0.02 per share (basic and diluted), which was primarily the result of a loss on the fair value revaluation of the RCF Loan and administration expenses.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper- Cobalt Project for the three months ended March 31, 2019 amounted to $12.0 million before a recovery of $4.8 million related to the sale of a net smelter returns royalty to a subsidiary of Triple Flag Mining Finance Bermuda Ltd. This compares to $0.2 million for the three months ended March 31, 2018. The total net capitalized exploration cost on the Tamarack Nickel-Copper-Cobalt Project to March 31, 2019 amounts to $47.2 million.
Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2019 and 2018, together 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 producing nickel responsibly for the electric vehicle industry. The high-grade Tamarack Ni-Cu-Co Project is located 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.
For additional information on Talon, please visit the Company’s website at www.talonmetals.com or contact:
Talon Metals Corp.
Tel: (416) 361-9636 x102