British Virgin Islands-incorporated company Talon Metals Corp. announced financial results for the three month period ended June 30, 2011. The company reported net loss in the amount of US$5,917,928, or $0.07 per share, – as compared to net loss of US$5,079,819, or $0.08 per share, reported in the same period of 2010. Capitalized exploration for the quarter ended June 30, 2011, makes US$6,628,725, – as compared to US$697,833 and US$999,734 for the three month period of 2010. This year’s capitalized exploration relates mainly to work on the Trairão Project, while last year’s work related mainly to work done on the Sergipe Potash Project.
For six month period ended June 30, 2011 the BVI company reported net loss of US$9,076,908 or $0.11 per share, – as compared to net loss of US$5,344,832, or $0.11 per share for the first six months of last year.
Also, Talon Metals announced that a National Instrument 43-101 technical report has been filed for BVI company’s 100% owned Trairão Iron Project in Pará State, Brazil. It is entitled “Third Independent Technical Report on Mineral Resources” and dated August 12, 2011.