Talon Metals Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	26.35	5.39	6.99	14.99	21.05	15.36
Short-Term Investments	9.18	0.04	15.8	28.27	4.02	-
Cash & Short-Term Investments	35.52	5.44	22.78	43.25	25.07	15.36
Cash Growth	234.15%	-76.14%	-47.33%	72.55%	63.23%	111.20%
Other Receivables	0	0	0	0	0	0
Receivables	0	0	0	0	0	0
Prepaid Expenses	0.15	0.09	0.51	0.57	0.16	0.04
Other Current Assets	-	0.1	0.1	0.02	0.27	0.08
Total Current Assets	35.68	5.62	23.38	43.85	25.51	15.47
Property, Plant & Equipment	263.26	251.05	213.68	174.35	100.08	60.8
Other Long-Term Assets	1.84	1.82	-	-	-	-
Total Assets	300.78	258.49	237.07	218.19	125.58	76.27
Accounts Payable	4.82	2.48	4.39	4.17	1.72	0.99
Accrued Expenses	0.01	-	-	-	0.12	-
Current Portion of Long-Term Debt	0.02	0.02	-	-	-	-
Other Current Liabilities	6.99	0.02	0.03	0.03	0.57	0.38
Total Current Liabilities	12.78	2.53	4.42	4.2	2.41	1.37
Long-Term Debt	0.25	0.26	-	-	-	-
Other Long-Term Liabilities	1.95	1.61	1.37	1.18	1.16	1.75
Total Liabilities	14.97	4.39	5.79	5.38	3.57	3.13
Common Stock	327.08	292.43	292.37	270.24	193.34	152.85
Additional Paid-In Capital	50.04	48.62	43.3	39.74	30.31	18.33
Retained Earnings	-111.18	-109.17	-106.85	-104.5	-103.01	-97.46
Comprehensive Income & Other	19.86	22.21	2.45	7.34	1.37	-0.58
Shareholders' Equity	285.81	254.1	231.27	212.82	122.02	73.15
Total Liabilities & Equity	300.78	258.49	237.07	218.19	125.58	76.27
Total Debt	0.27	0.29	-	-	-	-
Net Cash (Debt)	35.25	5.15	22.78	43.25	25.07	15.36
Net Cash Growth	237.38%	-77.40%	-47.33%	72.55%	63.23%	111.20%
Net Cash Per Share	0.36	0.06	0.26	0.56	0.37	0.29
Filing Date Shares Outstanding	116.96	93.47	93.47	85.11	75.71	68.24
Total Common Shares Outstanding	113.39	93.47	93.41	85.08	70.25	60.57
Working Capital	22.9	3.1	18.97	39.65	23.1	14.1
Book Value Per Share	2.52	2.72	2.48	2.50	1.74	1.21
Tangible Book Value	285.81	254.1	231.27	212.82	122.02	73.15
Tangible Book Value Per Share	2.52	2.72	2.48	2.50	1.74	1.21

Source: S&P Global Market Intelligence. Standard template. Financial Sources.