25 Aug 2009securities registration● Neutral
Timberline Resources Corp filed the final prospectus for a registered offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Aug 2009securities registration● Neutral
Timberline Resources Corp filed the final prospectus for a registered offering.
19 Aug 2009securities registration● Neutral
Timberline Resources Corp filed the final prospectus for a registered offering.
13 Aug 2009securities registration● Neutral
Timberline Resources Corp registered a securities offering with the SEC using its shelf eligibility.
5 Aug 2009securities registration● Neutral
Timberline Resources Corp amended a filing by which it registered a securities offering with the SEC.
27 July 2009material agreement▲ Good
Timberline and Highland Mining (owned by director Ron Guill) formed the planned 50/50 Butte Highlands JV, with Timberline contributing the Butte Highlands property at a deemed $2 million value and Highland funding all future mine development - the joint-venture structure floated when the outright SMD sale fell apart in 2008 was now formalized, with Guill managing the JV.
20 July 2009capital raising announcement▼ Bad
Timberline settled a $924,000 unpaid invoice from Jefferies & Co. for advisory work on the failed SMD acquisition financing by paying $50,000 cash plus 950,000 restricted shares - a stock-heavy settlement reflecting how cash-strapped the company was after the SMD deal collapsed.
2 June 2009securities registration● Neutral
Timberline Resources Corp amended a filing by which it registered a securities offering with the SEC.
21 May 2009securities registration● Neutral
Timberline Resources Corp amended a filing by which it registered a securities offering with the SEC.
22 Apr 2009securities registration● Neutral
Timberline Resources Corp amended a filing by which it registered a securities offering with the SEC.
27 Feb 2009securities registration● Neutral
Timberline Resources Corp registered a securities offering with the SEC.
20 Feb 2009listing compliance notice▼ BadMajor
Timberline's stock got a non-compliance notice from NYSE Alternext (the successor to the American Stock Exchange) for failing minimum stockholders'-equity and recurring-losses standards, requiring a compliance plan within 30 days - an early listing-standards warning consistent with an exploration company that had never turned a profit.
12 Jan 2009material agreement● Neutral
Timberline made routine tax-compliance amendments to the employment agreements of three executives (Paul Dircksen, Randal Hardy, John Swallow) to satisfy IRC Section 409A deferred-compensation rules - an administrative housekeeping item with no operational substance.
6 Nov 2008capital raising announcement▼ BadMajor
Timberline took $10 million from two $5 million convertible notes, one with director Ronald Guill and his wife and one with his company SMD, and used it to repay the $8 million Auramet loan. The notes were secured by a pledge of Timberline Drilling stock, and SMD received a right of first refusal on Butte Highlands.
31 Oct 2008securities registration● Neutral
Timberline Resources Corp filed the final prospectus for a registered offering.
29 Oct 2008material agreement termination▼ BadMajor
Timberline and director Ronald Guill mutually terminated the $80 million SMD acquisition agreement from February 2008 without penalty, instead moving toward a 50/50 joint venture with SMD to develop the Butte Highlands Gold Project (SMD funding development costs) plus a separate $10 million financing from Guill - the outright buyout scaled back to a partnership as financing conditions apparently did not come together.
24 Oct 2008securities registration● Neutral
Timberline Resources Corp filed the final prospectus for a registered offering.
2 Oct 2008securities registration● Neutral
Timberline Resources Corp amended a filing by which it registered a securities offering with the SEC.
1 Aug 2008business combination● NeutralMajor
The final proxy sets the shareholder meeting for August 22, 2008, to vote on the SMD purchase (filing fee based on a value of about $80.2 million), a share authorization raised to 50,000,000 shares, and reincorporation in Delaware. The Kettle-related Series A preferred stock was dealt with on June 27, 2008: 3,525,000 shares were bought back and cancelled for $7.5 million, funded by a short-term $8.0 million loan, and the other 1,175,000 were converted to common and passed to a private investor for $2.5 million. That leaves only common stock, with 28,479,903 shares outstanding at July 1, 2008, and the new share authorization is now partly meant to repay that loan.
3 July 2008capital raising announcement● Neutral
Timberline borrowed $8 million from Auramet Trading and used $7.5 million of it to buy back most of the Series A preferred stock held by Douglas Kettle (the former owner of Kettle Drilling) - unwinding part of the 2006 Kettle Drilling deal's preferred-stock consideration.
9 May 2008listing compliance notice▲ GoodMajor
the American Stock Exchange certified Timberline Resources Corp's securities for listing, clearing them to begin trading.
22 Apr 2008business combination● NeutralMajor
Timberline filed a preliminary proxy asking shareholders to approve buying Small Mine Development (SMD), with common stock issued as part of the price, plus a new authorization to issue up to 35,000,000 shares and a larger share pool for its equity incentive plan. The shares would also be used to finance repurchasing the Series A preferred stock issued in the Kettle deal. Director Ron Guill is a nominee; the later history indicates SMD is owned by him, but this excerpt does not say so. The meeting date is left blank in this preliminary version.
28 Feb 2008material agreement▲ GoodMajor
Timberline agreed to buy Small Mine Development (SMD), a Boise underground mine contractor, from its own board member Ronald Guill for $80 million ($45M cash, $15M stock, $20M deferred) - a large, related-party diversification into mine contracting, contingent on financing and shareholder approval.
14 Feb 2008late filing notice▼ Bad
Timberline Resources Corp notified the SEC that its quarterly report would be filed late.
2 Jan 2008late filing notice▼ Bad
Timberline Resources Corp notified the SEC that its annual report would be filed late.
26 Dec 2007securities registration● Neutral
Timberline Resources Corp registered a small-business securities offering with the SEC.
18 Oct 2007capital raising announcement▲ Good
Timberline closed a three-tranche private placement raising $7.2 million from 2.6 million stock-and-warrant units at $2.75/unit - by far its largest raise to date, earmarked for drilling equipment, exploration on several projects, debt reduction and evaluating acquisitions in mining services.
14 Aug 2007late filing notice▼ Bad
Timberline Resources Corp notified the SEC that its quarterly report would be filed late.
24 July 2007asset acquisition disposition▲ Good
Timberline signed a deal with private owners Steve Van Ert and Noel Cousins for the right to earn a 100% interest in the 325-claim Conglomerate Mesa property in Inyo County, California - a large new exploration ground with prior gold and silver-lead-zinc showings, subject to a 4% royalty (partly buyable out).
24 July 2007asset acquisition disposition▲ Good
Timberline closed its purchase of the Butte Highlands Gold Project from Butte Highlands Mining Company for the previously agreed $621,000 (cash and stock), taking ownership of the Montana claims and assuming related liabilities.