ROAD TOWN, BRITISH VIRGIN ISLANDS--(Marketwired - March 30, 2016) - Talon Metals Corp. ("Talon" or the "Company") (TSX:TLO) reported a net loss for the year ended December 31, 2015 of $6.3 million or $0.06 per share (basic and diluted), which was primarily the result of an impairment loss on the Trairão Iron Project, an investment loss on the Company's shareholding in Tlou Energy and administration expenses, offset by a gain on the sale of the São Jorge Royalty.
This compares to a net loss for the year ended December 31, 2014 of $17.2 million or $0.18 per share (basic and diluted), which was primarily the result of impairment losses on the Trairão Iron Project and the Inajá South Project, and to a lesser extent, administration expenses and project evaluation and due diligence expenses.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the year ended December 31, 2015 amounted to $5.5 million. This compares to $9.7 million for the year ended December 31, 2014. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to December 31, 2015 amounts to $15.2 million.
Consolidated Audited Financial Statements for the years ended December 31, 2015 and 2014, together with Management's Discussion and Analysis and the Company's Annual Information Form, have been filed on SEDAR and are available at www.sedar.com.
About Talon
Talon is a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.
For additional information on Talon, please visit the Company's website at www.talonmetals.com.