Archive for April, 2015

Talon Metals announced financial results for the year ended December 31, 2014

Tuesday, April 14th, 2015

Talon Metals Corp. has reported financial results for the year ended 31, 2014. For this period, net loss of the company made US$17.2mln, or US$0.18 per share, basic and diluted, as compared to net loss of US$7.2mln, or US$0.08 per share, reported in the year period ended December 31, 2013.

The net loss of this year was primarily the result of impairment losses on BVI company’s Trairão Iron Project, administration expenses and project evaluation and due diligence expenses. An impairment loss on the carrying value of the Trairão Iron Project was US$14.0 million, based on company’s assessment of the fair value, and taking into account various approaches to valuation. As a result, capitalized exploration costs and deferred expenditures for the Trairão Iron Project were US$4.0mln in the end of the year 2014.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the reported period were US$9.7mln.

RTG Mining announced fiscal results for year 2014

Wednesday, April 1st, 2015

British Virgin Islands-domiciled company RTG Mining Inc. announced financial results for the full year ended December 31, 2014. During the calendar year 2013, the company changed its financial year period from 30 June to 31 December. For the twelve months ended December 31, 204, RTG reported net loss of US$7.441mln, as compared to the net loss of US$0.881mln reported in the transitional six month period ended December 21, 2013, and net loss of US$8.322mln for the twelve months ended June 30, 2013.

At December 31, 2014, the BVI company had cash and cash equivalents of US$2.395mln, as compared to US$10.987mln at December 31, 2013, and US$14.988 at June 30, 2013. At the end of this fiscal year, company’s cash and liquid assets were US$5.73mln, including cash and cash equivalents.

Company’s interest income in the reported year 2014 was US$0.031mln (US$0.025mln in the transitional 6 months period, and US$0.004mln for the previous year period). Operating expenses were US$nil (the same in the transitional period, US$1,783mln for the year ended June 2013). Administrative costs of RTG mining were US$3.838mln during 2014 (US$2,038mln during transitional 6 months, and US$4.748mln during the previous year).