COEUR D'ALENE, ID / ACCESSWIRE / January 26, 2018 / Timberline Resources Corporation (OTCQB: TLRS) ("Timberline" or the "Company") today announced consolidated financial results for its first fiscal year 2018 quarter which ended December 31, 2017. A summary of selected financial results is presented in the following table:
|
($US 000's, except earnings per share) |
Quarter Ended December 31, |
|
| 2017 | 2016 | |
|
Consolidated net loss |
$(329) | $(327) |
|
Consolidated net loss per share, basic and diluted |
(0.01) | (0.01) |
|
Mineral exploration expenses |
26 | 46 |
|
Working capital |
119 | 121 |
Timberline reported a consolidated net loss of $0.3 million for the quarter ended December 31, 2017, including exploration expenditures of $26 thousand. The Company's exploration expenditures during the quarter continued to be curtailed to conserve cash. The Company completed a private placement during the quarter and continues to seek capital for the advancement of the Talapoosa gold and silver project in Nevada. The Company expects, subject to having sufficient capital, to continue to advance the Talapoosa project toward a pre-feasibility study and further development.
Timberline's President and CEO, Steve Osterberg, commented, "We are pleased to see recent strengthening in the precious metal commodities markets. We continue to believe that Talapoosa is an excellent project, and we have received significant interest in developing the potential of the project. We have advanced our understanding of the metallurgy and processing alternatives for mineralized material at Talapoosa, and we have confirmed our belief that results from the project can meet or exceed those estimated in the May 2015 Talapoosa Preliminary Economic Assessment."
About Timberline Resources
Timberline Resources Corporation is focused on advancing district-scale gold exploration and development projects in Nevada, including its Talapoosa project in Lyon County where the Company has completed and disclosed a positive preliminary economic assessment. Timberline also controls the 23 square-mile Eureka project lying on the Battle Mountain-Eureka gold trend. At Eureka, the Company continues to advance its Lookout Mountain and Windfall project areas. Exploration potential occurs within three separate structural-stratigraphic trends defined by distinct geochemical gold anomalies. Timberline also owns the Seven Troughs property in northern Nevada, known to be one of the state's highest grade, former producers.
Timberline is listed on the OTCQB where it trades under the symbol "TLRS" and on the TSX Venture Exchange where it trades under the symbol "TBR".
