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Talon Resources turns to industry

PERTH-based Talon Resources NL has been transformed from explorer to an industrial minerals producer with

considerable growth prospects.

In February it paid $1.56 million to merge with unlisted mineral absorbents producer, Supersorb Minerals NL.

Talon, which owns 68 per cent of Supersorb, has been the ASX-listed motor to drive the Albany-based producer’s business expansion in industrial absorbent markets.

Talon has a February 2000 option to acquire the remaining Supersorb equity.

In late June, Supersorb more than doubled its size when it acquired its New South Wales competitor Australian Diatomite Mining Pty Ltd (ADM) for $2.83 million.

The group mines, processes and packages granular absorbent products made from the naturally occurring minerals spongolite, diatomite and kaolinite.

As a junior explorer, Talon established a solid revenue and earnings base in a growing market that it now leads.

A September quarter net profit of $57,924 is Talon’s first profit since listing on bourse in May 1996 and is on a substantial increase in revenues to $2.63 million.

“The turnaround at Talon is the result of a clear, focussed strategy and its resolute execution,” Talon executive chairman Mr Stone said.

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