15 Oct 2019capital raising announcement● Neutral
Timberline continued its steady cadence of small OTC-era private placements, this one another dilutive capital raise for exploration funding.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Sept 2019drilling progress report▲ GoodMajor
Drilling started on the Lookout Mountain gold project in Nevada, the first work under the joint venture struck in July under which PM & Gold Mines can earn 51% by spending US$6 million over two years. Timberline is targeting the high-grade Carlin-style trend around a pit that produced 17,700 ounces in 1987 - and, importantly, is no longer paying for the drilling itself.
26 Aug 2019material agreement● Neutral
Timberline reported fiscal Q3 2019 results alongside news of a new drill program at Elder Creek - routine quarterly reporting paired with exploration progress on the McEwen Mining joint-venture ground.
14 Aug 2019quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $520 thousand for the period ended 2019-06-30.
31 July 2019capital raising announcement▲ Good
The TSX Venture Exchange gave final approval to the Lookout Mountain joint venture with PM&Gold Mines announced in July, formally clearing the deal that let PM&G earn up to 51% by spending $6 million over two years.
12 July 2019material agreement▲ GoodMajor
Timberline formed a joint venture with PM&Gold Mines on its original Lookout Mountain project, letting PM&G earn an initial 51% interest by spending $6 million on exploration and development over two years - outside capital brought in to advance the project that had been Timberline's flagship before Talapoosa.
17 May 2019quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $218 thousand for the period ended 2019-03-31.
15 May 2019quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $218 thousand for the period ended 2019-03-31.
14 May 2019capital raising announcement▼ Bad
Timberline borrowed another $250,000 from William Matlack at 18% annual interest, its second high-cost loan from the same lender within a year - continued reliance on expensive debt to bridge working-capital gaps.
9 Apr 2019securities registration● Neutral
Timberline Resources Corp filed notice of an exempt private placement.
1 Apr 2019capital raising announcement● Neutral
Timberline closed the first tranche of a new $0.08-unit private placement, raising $160,000 - a smaller raise than prior rounds, reflecting still-thin investor demand.
20 Feb 2019quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $550 thousand for the period ended 2018-12-31.
19 Feb 2019quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $550 thousand for the period ended 2018-12-31.
14 Feb 2019late filing notice▼ Bad
Timberline Resources Corp notified the SEC that its quarterly report would be filed late.
11 Feb 2019capital raising announcement● Neutral
Timberline launched another private placement, targeting $500,000 at $0.08/unit with room to upsize 20% - the financing pattern continuing largely unchanged.
14 Dec 2018capital raising announcement● Neutral
Timberline closed the second and final tranche of its private placement, adding about $97,000 more - the offering was oversubscribed, a modestly encouraging sign for investor appetite even at depressed prices.
26 Nov 2018securities registration● Neutral
Timberline Resources Corp filed notice of an exempt private placement.
16 Nov 2018capital raising announcement● Neutral
Timberline closed the first tranche of another $0.08-unit private placement, raising about $503,000.
25 Oct 2018capital raising announcement● Neutral
Timberline announced another private placement offering, continuing the steady drumbeat of small OTC-era capital raises.
23 Oct 2018substantial holder notice● Neutral
William Matlack disclosed a new substantial Timberline Resources Corp shareholding (13.94% of votes).
16 Aug 2018capital raising announcement▲ GoodMajor
Timberline closed its acquisition of the Elder Creek and Paiute Nevada properties from Americas Gold Exploration, becoming operator of both the McEwen Mining (Elder Creek) and Barrick/Lac Minerals (Paiute) joint ventures - completing the pivot announced in May.
13 Aug 2018quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $329 thousand for the period ended 2018-06-30.
2 Aug 2018capital raising announcement▼ Bad
Timberline borrowed $300,000 from arm's-length lender William Matlack at a steep 18% annual interest rate (compounded monthly) to fund exploration and working capital - expensive debt reflecting how limited the company's financing options were after losing Talapoosa.
20 June 2018drilling result▲ Good
Timberline reported gold and copper assay results from the newly acquired Elder Creek project in the Battle Mountain district - early validation of the McEwen Mining joint-venture ground gained through the May 2018 Americas Gold Exploration deal.
13 June 2018drilling result▲ Good
Timberline reported high-grade gold and silver assays from the Oswego Trend at its Eureka project in Nevada - positive early results from the exploration re-focus after losing Talapoosa.
30 May 2018material agreement▲ GoodMajor
Having lost Talapoosa, Timberline acquired two Nevada gold-copper properties in the Battle Mountain district from Americas Gold Exploration for 10 million shares plus 5 million warrants, gaining rights to earn into existing joint ventures with McEwen Mining (Elder Creek) and Barrick Gold's Lac Minerals subsidiary (Paiute) - a fresh strategic pivot bringing in major-miner JV partners.
14 May 2018quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $3.7 million for the period ended 2018-03-31.
11 May 2018quarterly activities report▼ Bad
Timberline Resources Corp reported a quarterly net loss of $3.7 million for the period ended 2018-03-31.
10 May 2018securities registration● Neutral
Timberline Resources Corp filed notice of an exempt private placement.
9 May 2018capital raising announcement▼ Bad
Timberline closed a private placement at just $0.08/unit - its lowest financing price yet - raising $600,000 from 7.5 million units, reflecting a much-depressed stock price after losing the Talapoosa project.