BVI registered Talon Metals Corporation (formerly BrazMin Corp.) in the end of March reported consolidated financial results for the year ended December 31, 2007. The company announced net income in the amount of $6,753,593 or $0.25 per share. This was achieved primarily due to gains on mineral properties and investments, the largest gain being a result of the sale of the Tocantinzinho Gold Project in the first quarter of 2007.
For the three month period ended December 31, 2007, Talon Metals reported a net loss of $1,722,479 or $0.06 per share, – compared to net loss in 2006, in the amount of $793,500 or $0.03 per share. Capitalized exploration for the year 2007amounted to $2,091,976 (total amount today is $8,797,395), mainly because of work performed on the Agua Branca Gold Project in Para State, Brazil.