Talon Metals Corp Reports FY Net Loss; Fell 7%, Hit Yr Lows Friday
Talon Metals Corp. (TLO.TO), which fell 7% and hit year lows Friday, reported a net loss from continuing operations and a net loss for the year ended December 31, 2012 of $18.4 million or $0.20 per share - basic and diluted, which includes an impairment loss of $11.2 million on its investment in Tlou Energy Limited and the company's share of loss in Tlou Energy of $2.3 million (2011: net loss from continuing operations of $13.8 million or $0.16 per share - basic and diluted and net loss of $4.9 million or $0.06 per share - basic and diluted).
Capitalized exploration cost on the Trairao Iron Project for the year amounted to $2.6 million. This compares to $13.5 million for the year ended December 31, 2011. The total capitalized exploration cost on the Trairao Iron Project to December 31, 2012 amounts to $16.6 million.
Talon is focused on the exploration and development of its iron projects in Brazil.
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