Timberline Announces First Quarter 2014 Financial Results
13 Febbraio 2014 - 2:31AM
Marketwired
Timberline Announces First Quarter 2014 Financial Results
COEUR D'ALENE, IDAHO--(Marketwired - Feb 12, 2014) - Timberline
Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline"
or the "Company") today announced consolidated financial results
for its first fiscal quarter ended December 31, 2013. A summary of
selected financial results is presented in the following table:
($US
000's, except earnings per share) |
Quarter Ended December 31, |
|
|
|
|
|
2013 |
|
2012 |
|
Loss
from continuing operations |
$ |
(508 |
) |
$ |
(1,201 |
) |
Consolidated net income (loss) |
|
(508 |
) |
|
(1,201 |
) |
Consolidated net income (loss) per share, basic and diluted |
|
(0.01 |
) |
|
(0.02 |
) |
Mineral exploration expenses |
|
164 |
|
|
806 |
|
Working capital |
|
168 |
|
|
2,004 |
|
Timberline reported a consolidated net loss of $508 thousand for
the quarter ended December 31, 2013, including exploration
expenditures of $164 thousand. The Company's exploration
expenditures during the quarter were primarily related to ongoing
metallurgical, economic, and environmental baseline data collection
and studies at the Lookout Mountain Project on the Company's South
Eureka Property in Nevada. Results are expected to support future
permit applications, and preliminary economic analysis for
low-cost, heap-leach processing. Limited expenditures were related
to initial field geologic investigation of the Iron Butte Gold
Project in Nevada.
Timberline's President and CEO, Paul Dircksen, said, "Although
limited in scope by the current difficult market environment, we
are pleased to report continued progress in advancing the Lookout
Mountain Project. The data generated at Lookout Mountain will be
important in development of a Preliminary Economic Assessment which
is planned when market conditions make it possible."
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States.
Timberline holds a 50-percent carried interest ownership stake in
the Butte Highlands Joint Venture in Montana. Timberline's
exploration is primarily focused on the major gold districts of
Nevada, where it is advancing its flagship Lookout Mountain Project
toward a production decision while exploring a pipeline of quality
earlier-stage projects at its South Eureka Property and elsewhere.
Timberline's leadership has a proven track record of discovering
economic mineral deposits that are developed into profitable
mines.
Timberline is listed on the NYSEMKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the Company's permitting of and generating a preliminary
economic assessment for its Lookout Mountain project, and potential
future financing transactions. When used herein, the words
"anticipate," "believe," "estimate," "upcoming," "plan," "target",
"intend" and "expect" and similar expressions, as they relate to
Timberline Resources Corporation, its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, risks related to risks related to its exploration
projects, risks related to potential future transactions, risks
related to the Company continuing as a going concern, and other
such factors, including risk factors discussed in the Company's
Annual Report on Form 10-K for the year ended September 30, 2013.
Except as required by Federal Securities law, the Company does not
undertake any obligation to release publicly any revisions to any
forward-looking statements.
Timberline Resources CorporationPaul DircksenCEO208.664.4859
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