Many questions. Lots of moving parts. Not many answers, yet.
Will the Butte Highlands project spin out be publicly traded ? Listed where ? "it is currently anticipated that prior to merging, Timberline will transfer ownership of its partially permitted Butte Highlands Gold Project in Montana to its existing shareholders through a spin-out or similar transaction. The exact mechanism and timing of these transfers has yet to be finalized". Not able to formulate an answer, yet.
Will the new company retain all the benefits for investors of TLR's current domicile, and the NYSE listing ? It sounds like it... but, will need to watch that closely... including exchange acceptance of the deal meeting their recapitalization requirements...
I still need to do the math on the valuation of the deal(s)... some of which maths will be hard to do without knowing more about some of what's not known now... as the temporal and value relationships between closing, (an unspecified) consolidation, and "concurrent" financing events... I haven't begun looking at valuing the new partner, yet, but, the cash and cash costs should be easy...
Otherwise, it looks like a pooling of resources, with TLR having the better gold prospect potentials, and Wolfpack having a better ability to add cash now to move things forward... (which, in itself, seems it is telling you something loud and clear... about the NYSE and Wall Street both being badly broken... to the degree they are a distant second tier potential source of support in providing financing for their own companies. )
Parsing what the relative value of Butte Highlands is, given a lit fuze on a timeline to permitting and production? What happens to other holdings outside Nevada, stock interests, etc ?
No hurry, for now, it seems... with a month plus to figure things out... |
