Timberline Resources Corp (TLRS)

[Picassa]

DETAILS ON TLR


1-The Nevada property need more exploration, because it appear it will reward a lot of upside (+ 1M gold once).

2-S... asset management accept to push 5M$ (After they saw the first N34) at a discount (450MA price of 0.95$)

They've accumulate TLR shares since the 1st February 2011 and will keep the 5M shares as a core holding for the LT.

3-Timberline accept this deal, because they fear an hostile bid (at 2.25$/share), after the release of the N34.


Estimate value of TLR :

150M$ for Montana and Drilling activities + 50M$ (+ 250M$ in 2012-2013 after more exploration)for Nevada = 200M$ NT and 400M$ LT


3.5$/share NT and 6-8$ LT