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

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.

Comments are closed.