Talon Metals Corp. (BVI), TSX-listed mineral exploration company engaged in the projects located in Brazil, announced its financial results for the three month and six month periods ended June 30, 2008.
Net earnings of the company for the second quarter 2008 made US$1,023,538, or US$0.04 per share (basic or diluted). This became the result of an unrealized gain on investments in the amount of US$1,462,650.
Talon Metals reported its net earnings for the six month period of 2008 making US$293,990, or US$0.01 per share.
The above results of the BVI company should be compared to a loss of US$978,845 or US$0.04 per share for the three month period ended June 30, 2007, and earnings in the amount of US$8,467,901 or US$0.31 per share for the first six months of the last year.
Capitalized exploration for the reported three- and six-month periods of 2008 made US$442,699 and $935,841 respectively, and relates mainly to work done on the Agua Branca Project. These amounts compare to US$548,696 and US$1,056,722 for the respective periods of the year 2007.