from the 10Q:
We anticipate that the completion of our development priorities, up to the commencement of production, from the Butte Highlands Gold Project will require approximately $10 to $15 million in capital expenditures. We expect to fund this pre-production development through a combination of equity and/or debt financing.
So now we finally know what TLR needs!
I think this is an interesting tidbit......"management believes that it has sufficient working capital to meet the Company’s ongoing operating expenses for the next 12 months".
Bottom line here is they either get an equity offering priced or a loan (unlikely)in the next twelve months or this company is done.
Only 1 Mio this quarter so no worries.
all miners are going down and most of them a lot.
TLR will have production sometime ..so this is very cheap for real investors..
if you can't wait go away !!!
Reading between the lines and I don't like the implication:
'Mr. Guill said, "In converting a significant portion of Highland Mining's stake into a royalty interest and share position, I wish to express my continued confidence in the Butte Highlands project and in Timberline management. However, the unexpected costs and protracted timeline related to the expected volume of water discharge led me, as well as the Company, to conclude that a consolidation of the project into Timberline is in the best interest of shareholders.'
How is adding more stock to the float in the best interest of the shareholders.
So now new investors will be able to come right and get shares for a 75% discount of what everyone else paid.
Basically Ron is doubling down.
Since his average price is .95 cents!
Every bad mistake you could possbly make to destroy a company management has done. What a nightmare.
To make matters worse the metals are getting hammered now.
I might look to buy some at .20cents. I dont know though management are idiots.
It is about time to get this knowledge (re: dilution); better late than never. By the way, it’s also good time to say thankyou to this board’s pumpers telling for long time stories that everything is ready for production; just get permit and go forward to huge riches. What the point to spend $10-15M capex if everything is ready?
Please note that capex doesn’t include S&GA expenses (i.e. payroll) and/or exploration/drilling in another project. Management did great job, firstly, by getting rid of profitable division and, secondly, by bailing out JV partner (that was likely unable to find these 10-15M) by giving up the last cash.
Warmcamp your obviously being sarcastic.
Selling the drilling business was a huge blunder.
It makes sense why they did it They had to pay ron guil back because he is broke from the butte financing.
I am sorry but this management team is a bunch of morons. If they still had the drilling revenue they wouldn't have to dilute.
15 million at .20 cents a share. ouch thats going to hurt!
Something didn't feel right to me and I dumped the rest of my position at .49 cents glad I did.
I feel bad for the bagholders!