Talon Metals Reports Third Quarter 2009 Results
Nov 16, 2009
Road Town, Tortola, British Virgin Islands (Nov, 16, 2009) - - Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) reported a net loss for the three month period ended September 30, 2009 of $1,241,929 or $0.05 per share (basic and diluted). Net loss for the nine month period was $1,331,193 or $0.05 per share (basic and diluted).
This compares to net loss of $4,185,194 or $0.16 per share (basic and diluted) for the three months ended September 30, 2008 and net loss of $3,891,204 or $0.14 per share (basic and diluted), for the first nine months of last year.
Capitalized exploration for the three and nine month periods ended September 30, 2009, amounted to $284,773 and $917,177 respectively. This relates mainly to the acquisition of the Sergipe Potash Project. This compares to $343,399 and $1,279,240 for the three and nine month periods respectively of last year.
Consolidated Interim Financial Statements for the three and nine months ended September 30, 2009, along with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
Talon is a TSX-listed company focused on the acquisition, exploration and development of high quality resource projects. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.
For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
Talon has a treasury of approximately CDN$18 million and has 92.0 million common shares outstanding and 110.9 million shares on a fully diluted basis.