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Gold/Mining/Energy : Timberline Resources

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From: sense	2/14/2013 5:52:18 PM
	of 104

Nut shell version here... They're supposed to be on track to establishing initial production, by mid year 2013, from a carried 50% interest in their Montana project. The numbers show they'll be limited to a 20% interest in cash flow from production until their 50% carried interest is paid off... I think it would take a full year of nominal rate production to fully cover that cost for both partners, with a stated sunk cost of $25 million thus far. Do the math for a 50% interest in 400 tons per day, 300 days per year, at an average grade of around 0.35 ounces per ton... The Montana project isn't their headliner... but, it clearly will be the key driver of events in 2013... The headliner is in Nevada... with a district scale interest called South Eureka, that contains the flagship Round Mountain project, along with a number of other under-explored potentials. The Q says they're planning on updating the resource estimate "soon"... and are planning on completion of a PEA this spring...

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