Talon Metals Corp. announced financial results for the three months ended March 31, 2018. For this period, the BVI company reported net loss of US$2.0mln, or US$0.02 per share (basic and diluted). This result compares to the net loss of US$1.9mln or US$0.01 per share for the three months ended March 31, 2017. Both results were primarily due to the loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses.
For the three months ended March 31, 2018, capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project amounted to US$0.2mln, as compared to US$1.0mln for the same period of the previous year. The total capitalized exploration cost on the Tamarack NIckel-Copper-PGE Project to March 31, 2018 was US$39.1mln.