Talon Metals Corp., a BVI-registered corporation focused on mineral exploration, announced fiscal results for the year ended December 31, 2013. The company reported a net loss of US$7.2 million, or US$0.08 per share (basic and diluted). The net loss for year 2013 as compared to US$18.4 million loss in the year ended December 31, 2012, was caused by the same factors, including due diligence and administration expenses, and losses from Talon’s investment in Tlou Energy.
In fiscal year 2013, the company reported capitalized exploration costs on the Trairão Iron Project in Brazil in the amount of US$0.9 million, as compared to US$2.6 million for the previous year. The total capitalized exploration cost on this project amounted to US$17.6 million to December 31, 2013.