Timberline Resources Posts losses, But CEO looks Convinced
Timberline Resources Corporation is centered around propelling area scale gold investigation and improvement ventures in Nevada, incorporating its Talapoosa venture in Lyon County where the Company has finished and unveiled a positive preparatory financial evaluation.
Timberline likewise controls the 23 square-mile Eureka venture lying on the Battle Mountain-Eureka gold pattern. At Eureka, the Company keeps on propelling its Lookout Mountain and Windfall venture regions.
Investigation potential happens inside three separate basic stratigraphic patterns characterized by unmistakable geochemical gold abnormalities. Timberline likewise claims the Seven Troughs property in northern Nevada, known not one of the state’s most noteworthy evaluation, previous makers.
The company’s stock currently trades around 0.17 a share with an average daily volume of 159,890 shares. The company’ market capitalization is standing around 2 million, while outstanding shares are at 11 million and authorized shares at 10,000,000.
In the latest quarter, Timberline posted a consolidated loss of $0.5 million, which includes exploration expenditures of around $34 thousand. Its exploration expenditures in the quarter continued to be shortened; but, in June, it tripled the original amount of its non-brokered private placement and closed a $1.5 million equity financing which allowed it to initiate a metallurgical and geotechnical test program at Talapoosa in July 2016.
Timberline’s President and CEO, Steve Osterberg, commented, “We are pleased to see continued strength in the gold market and the significant support for our financing in May and June. In July, we moved quickly to commence metallurgical and geotechnical testing at Talapoosa in order to further advance the project. We look forward to continuing the advancement and development of our assets.”