or is it good news, you decide. This has been a rocky ride and it's not over yet
("Timberline" or the "Company") announced today that it has received notice from the NYSE MKT LLC (the "Exchange") that if the Company does not adequately address the low selling price of the Company's stock within a reasonable amount of time to the satisfaction of the Exchange, the Company will not satisfy the continued listing standards of the Exchange set forth in Section 1003(f)(v) of the NYSE MKT LLC Company Guide. The Company has not yet determined what action it will take in response to this notice. The Company expects that progress on permitting and production at our Butte Highlands Joint Venture, as well as an improvement in general market conditions, will alleviate the concerns of the Exchange within a reasonable amount of time.
Sorry guys, but if market conditions do not improve dramatically then this stock goes to pink sheets. If you got extra cash to invest in gold mining then look around; too many quality names make 52-week lows every week.
Also, I saw a reference in another thread that Montana DEQ holds scoping meetings for the purpose of preparing EIS and for some reason some guys decided that this is positive. If this reference is correct then it means, in plain English, no permit this year, because preparing EIS is a lengthy process. I am not too familiar with details of Montana EIS process (it can be noted here that this is mining unfriendly state); Federal EIS process takes 15-18 months at best, after scoping meetings are concluded.
I agree Warm that this project is on very thin ice and if it's bumped down to pink sheets, it will be more than likely head to single digits.
As for the Montana DEQ and their EIS process, it's my understanding that they work quite differently than the Feds. Their scoping meetings start later in the process and also continue later through the process, practically right up to approval. The DEQ project manager has stated publicly that the process will be completed in August. (It should be noted that this information comes to me by someone familiar with the MT DEQ, **not** someone IN the DEQ). I've also been told that the local venture capital group has fairly decent leverage, so that may be a help as well.
However, if this does go to the pink sheets, I think that could very well be the end of the project. I would hope that this would be a very clear wake-up call to the TLR management. This is definitely the time they should really start earning their keep.
Getting things done right takes time, so it is what it is! Timberline has to work with all of the regulators involved, the MDEQ, BCSC, NYSE ect... What is a reasonable amount of time? That is the question. We as shareholders know the shareprice does not reflect the true value of this company. Timberlines JV partner knows also...they intend to advance the Butte project without first establishing mineral resources supported by an independant technical report or completing a feasibility study. First the delays due to the MDEQ regulators, but now a date has been set with the Draft HRP in hand. Then the BCSC decides they don't like the language used for NI 43-101 reporting. Now the NYSE thinks the shareprice is too low, well join the club, all of the loyal shareholders think the shareprice is too low also!
Timberline needs to find out what the NYSE thinks is a reasonable amount of time under these special circumstances, so close to production IMO. Then they can decide what actions to take if any are needed. It feels like all negative forces are working against Timberline, but that could change quickly IMO with the right news(acquired financing for South Eureka, Butte permits, or even just a grace period from the NYSE as these developments advance. We all know if Butte gets a green light for production, all of these survivability questions will be eased a bit. After reading the NYSE company guide, I would think the NYSE would consider the special circumstaces Timberline has at this time. We'll have to see how management responds to this as well as the NI 43-101 issue from the BCSC. After all this time and rocky ride as you describe it, I still feel Timberline is doing all they can to bring Butte to production and grow the company with it's pipeline of projects. So call me a pumper, cheerleader or whatever, but I won't give up on this investment, especially after all of these intensive regulations Timberline has had to overcome up to this point!
And they did a good job of destroying themselves. "Within a reasonable amount of time". How many years is it this time. This stock is done; no doubt single digits; so sad; so POS
Sentiment: Strong Sell
TLR's share price will not rebound unless there is a rebound in the overall metals market, to be honest you have such a low grade in the project compared to other explorers it is ridiculous to hold on to these.
My gosh, just do a reverse split. You dont have more substantial things to worry about?
A mechanical procedure. Afterwards one's stake in the Co. will be exactly the same, the number of shares much less (better share structure). However, institutions, pension funds and others may then buy into it since it's above a certain treshold. + Options can be traded on it too.
Unfortunately I don't think this stock will ever go back up. Again today it did not gain back what it lost yesterday; and that seems to be the pattern. It is sad but it only goes down. God news doesn't matter, but then there is only bad news. I guess we will find out but I won't be here in 2 or 3 years to find out. So sad but a part of the whole ball game, another topic.
If so called management and board of directors refuse to buy at these low prices and there have been plenty of windows to do so, then why should anyone else. I thought at the very least after receiving the AMX notification that they would step up to the plate and buy shares on the open market to show confidence in their own company, but I guess not. Unfortunately I see reverse split coming from these guys, but I hope I'm wrong.