Talon Metals Corp (TLO) Financings
TSX: TLO · Nickel, Copper, Cobalt · Production stage
- Market cap$1.32B
- Share price$8.15
- 52-week range$3.65 – $11.23
- Shares outstanding162,249,483
- ExchangeTSX
- Websitetalonmetals.com
Talon is a TSX-listed base metals company advancing and operating high-grade nickel-copper assets in the United States, including 100% ownership of the Eagle Mine and Humboldt Mill in Michigan, the only primary nickel mine currently operating in the United States, and the Tamarack Nickel-Copper-Cobalt Project in Minnesota. Talon is in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel-Copper-Cobalt Project comprises a large land position (18km of strike length) with additional high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel-Copper-Cobalt Project and currently owns 51%. Talon has a neutrality and workforce development agreement in place with the United Steelworkers union. Talon's Beulah Mineral Processing Facility in Mercer County was selected by the US Department of Energy for a US$114.8 million funding grant from the Bipartisan Infrastructure Law, and the US Department of War awarded Talon a grant of US$20.6 million to support and accelerate Talon's exploration efforts in both Minnesota and Michigan. Talon has well-qualified and experienced exploration, mine permitting, mine development, operations, and community relations teams.
- Company Overview
- Interactive Economic Study
- Mining Data
- News
- Financials
- Management Team
- Insider Sales
- SEDAR+ Filings
Talon Metals Corp financial statements
Key figures read from 41 of 41 financial statement filings, Nov 14, 2016 to Aug 13, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$16,426,979 | C$5,390,841 | C$6,986,351 | C$14,986,420 | C$25,065,775 |
| Short-term investments | C$18,347,862 | C$44,312 | C$15,795,852 | C$28,265,218 | — |
| Total current assets | C$35,201,997* | C$5,620,660* | C$23,384,856* | C$43,846,345* | C$25,505,601* |
| Total current liabilities | C$8,802,550 | C$2,525,363 | C$4,419,438 | C$4,196,408 | C$2,407,471 |
| Working capital | C$26,399,447 | C$3,095,297 | C$18,965,418 | C$39,649,937 | C$23,098,130 |
| Exploration and evaluation assets | C$266,224,283 | C$247,076,933 | C$209,854,423 | C$169,865,204 | C$98,753,932 |
| Property, plant and equipment | C$3,270,804 | C$3,974,095 | C$3,826,580 | C$4,483,424 | C$1,322,803 |
| Total assets | C$306,640,596 | C$258,490,202 | C$237,065,859 | C$218,194,973 | C$125,582,336 |
| Total liabilities | C$10,885,421 | C$4,394,547 | C$5,791,578 | C$5,375,393 | C$3,565,781 |
| Shareholders' equity | C$295,755,175 | C$254,095,655 | C$231,274,281 | C$212,819,580 | C$122,016,555 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| General and administrative | C$2,028,420 | C$1,196,260 | C$1,237,052 | C$1,232,455 | C$974,213 |
| Net income (loss) | (C$5,052,494) | (C$2,320,931) | (C$2,348,516) | (C$1,498,033) | (C$5,545,812) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$2,501,290) | (C$1,275,333) | (C$1,745,419) | (C$1,483,351) | (C$2,474,591) |
| Investing cash flow | (C$24,135,135) | (C$17,467,821) | (C$40,275,456) | (C$49,365,930) | (C$23,303,967) |
| Financing cash flow | C$58,034,991 | C$481,153 | C$21,841,518 | C$68,041,827 | C$35,500,605 |
| Exploration spending (capitalized) | (C$28,460,124) | (C$32,602,316) | (C$39,590,036) | (C$45,842,567) | (C$21,795,746) |
| Property, plant and equipment spending | (C$894,132) | (C$1,263,712) | (C$685,420) | (C$3,523,363) | (C$1,508,221) |
| Proceeds from share issues | C$46,151,995 | C$0 | C$21,635,387 | C$65,819,769 | — |
| Change in cash | C$12,540,717 | (C$1,687,752) | (C$7,981,330) | (C$6,134,059) | C$9,722,047 |
| Cash at end of period | C$16,426,979 | C$5,390,841 | C$6,986,351 | C$14,986,420 | C$25,065,775 |
Talon Metals Corp financings
1 financing announced or closed by Talon Metals Corp, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-03-05 | Talon Metals Corp (TLO) | Private placement | Closed, 1 tranche | $7.8M | — | Talon Metals Announces Results of Special Meeting and Closing of Private Placement |
Talon Metals Corp debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Talon Metals Corp has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2019-03-08 | Convertible note / loan, converted | Talon Metals Corp | US$1M | 12%, matures 2018-11-25 |
| 2019-03-07 | Convertible note / loan, converted | — | C$9.82M | — |
| 2018-06-26 | Convertible note / loan, amended | Resource Capital | C$16M | matures 2019-04-02 |
| 2018-03-29 | Loan, signed | Resource Capital | US$1M | 12%, matures 2018-11-25 |