BVI-registered company Talon Metals Corp. announced financial results for the first quarter of 2016. For the three months ended March 31, 2016, the company announced net income of US$1.8mln, or US$0.01 per share. This compares to a net loss of US$0.6mln, or US$0.01 per share for the three months ended March 31, 2015. , which was the result of investment loss and administration expenses.
For the first quarter of 2016, capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project amounted to US$21.2mln, as compared to US$6.2mln for the same period of 2015. The total capitalized exploration cost on the Project amounted to US$36.4mln as to March 31, 2016.