Past year: ▲ 117%(6.00c – 16.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Dec 2023capital raising announcement● Neutral
Timberline increased and then closed its $0.04-unit private placement as an oversubscribed offering, issuing 15.75 million units for roughly $630,000 - its last capital raise as an independent company before the McEwen Mining merger was announced four months later.
20 Dec 2023capital raising announcement▼ Bad
Timberline launched another private placement, this time for just $600,000 at $0.04/unit - its lowest financing price on record, underscoring how much its share price had fallen by late 2023 despite the ongoing positive Eureka exploration results.
7 Sept 2023capital raising announcement● Neutral
Timberline closed the first tranche of its $0.05-unit placement, raising about $728,500, led by orders from Jupiter Gold & Silver Fund ($500,000) and Crescat Capital ($200,000) - specialist gold-sector institutional investors backing the raise even at depressed pricing.
22 Aug 2023capital raising announcement▼ Bad
Timberline launched a $1 million private placement at just $0.05/unit - continued financing at a much-reduced share price as the broader junior gold market cooled further.
27 Apr 2023capital raising announcement▼ Bad
Timberline filed for TSX Venture Exchange approval of a private placement targeting up to $3 million at $0.08/unit - a much lower price than the 2022 raises, reflecting a cooling in gold-exploration financing conditions.
2 May 2022capital raising announcement▲ Good
Timberline closed the private placement, raising about $4.7 million from just under 19 million shares at $0.25 - short of the $8 million target but still a solid raise, with finder's fees paid partly in warrants.
What it means for a shareholder
19.0m new shares at $0.250 to raise about $4.7m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held $1,000 of shares (4,000 at the issue price), your slice goes from 0.00283% to 0.0025% of the company. To keep it you'd need 538 more shares - about $135 at the issue price.
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5 Apr 2022capital raising announcement▲ Good
Timberline launched an $8 million private placement at $0.25/share, its largest targeted raise yet, to fund geology, geophysics and drilling at the Eureka project on the Battle Mountain-Eureka Trend.
30 June 2021capital raising announcement▲ GoodMajor
Timberline closed the private placement, raising about $4.6 million from 23.1 million units - its largest capital raise since the $7.2 million round of 2007, and a striking turnaround from the $0.08/unit distress financings of 2018-2019.
What it means for a shareholder
23.1m new shares at about $0.1991 to raise about $4.6m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held $1,000 of shares (5,022 at the issue price), your slice goes from 0.00431% to 0.0036% of the company. To keep it you'd need 996 more shares - about $198 at the issue price.
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21 May 2021capital raising announcement▲ Good
Timberline launched a $6 million private placement at $0.20/unit - continuing to scale up its financing as gold exploration interest and its own project portfolio (now fully-owned Lookout Mountain, still-held Paiute JV with Barrick) improved.
1 Sept 2020capital raising announcement▲ Good
Timberline closed the $0.11-unit private placement, using a licensed broker for part of the raise (6% finder's fee) - completing its largest capital raise since the 2016 delisting.
14 Aug 2020capital raising announcement▲ Good
Timberline launched its largest private placement in years, targeting $3.7 million at $0.11/unit - a much bigger raise than its 2018-2019 rounds, likely reflecting stronger gold-sector sentiment and the just-regained full control of Lookout Mountain.
25 Oct 2019capital raising announcement● Neutral
Timberline closed a $0.08-unit private placement, issuing 7.5 million units with warrants exercisable at $0.12 through October 2024 - another small raise at depressed pricing.
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.
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.
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.
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.
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.
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.
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.
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.
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.
21 Dec 2017capital raising announcement● Neutral
Timberline reported its fiscal 2017 year-end results and closed the second tranche of its $0.30-unit private placement - routine quarterly reporting alongside continued small-scale financing.
8 Nov 2017capital raising announcement● Neutral
Timberline closed the first tranche of a new private placement (units at $0.30, warrants at $0.45 through October 2022), raising about $687,000.
12 Oct 2017capital raising announcement● Neutral
Timberline announced another new private placement offering, continuing its now-routine pattern of small OTC-era capital raises.
14 Apr 2017capital raising announcement▲ Good
Timberline closed the third and final tranche of its $0.25-unit private placement, raising about $461,000 more and completing the full $2 million offering.
30 Mar 2017capital raising announcement● Neutral
Timberline raised the target size of its ongoing private placement to $2 million - continuing to scale up an already-extended offering.
29 Mar 2017capital raising announcement● Neutral
Timberline closed the second tranche of the $0.25-unit private placement, raising about $1.05 million more and pushing the offering's target up to $1.75 million.
24 Mar 2017capital raising announcement● Neutral
Timberline both increased the size of and further extended its ongoing private placement - demand or need for capital was apparently running ahead of the original offering size.
