Talon Metals Corp., TSX-listed company incorporated in the British Virgin Islands and headquartered in Canada, announced financial results for the third quarter of the year, ended September 30, 2013. For this period, the BVI company reported net loss in the amount of US$0.6 million, or US$0.01 per share (basic and diluted), as compared to the net loss of US$1.7 million, or US$0.02 per share for the third quarter of 2012. The net loss in both reported periods was primarily the result of administration expenses. For the nine month period of 2013 net loss of Talon Metals was US$4.3 million, or US$0.05 per share (basic and diluted), compared to net loss of US$4.5 million or US$0.05 per share for the same period of the previous year.
For the three months ended September 30, 2013, capitalized exploration costs of the BVI company on the Trairão Iron Project were approximately US$0.2 million, as compared to approximately US$0.5 million in the same period last year. The total capitalized exploration cost on the Trairão Iron Project to September 30, 2013 amounts to $17.5 million.