Talon Metals reported financial results for three months ended March 31, 2019

Talon Metals Corp. announced financial results for the quarter ended March 31, 2019. For these three months, the BVI corporation reported net loss of US$2.8mln or US$0.01 per share, compared to a net loss of US$2.0mln or US$0.02 per share for the quarter ended March 31, 2018. The year-over-year increase in net loss was mainly the result of a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, administration expenses and stock option compensation.

For the three months ended March 31, 2019, capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project amounted to US$12.0mln before a recovery of US$4.8mln – compared to US$0.2mln for the three months ended March 31, 2018. The total net capitalized exploration cost on the project was US$47.2mln as at March 31, 2019.

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