Friday, December 13, 2024
33.0°F

Movers & Shakers Feb. 16, 2010

| February 15, 2010 11:00 PM

North Idaho Necessities opens in St. Maries

Terry Machado has opened North Idaho Necessities at Ninth and Main in St. Maries.

The shop, which she described as "comfy and cozy" with a fireplace, features the work of more than 40 local crafters.

It offers such items as log furniture, rock lamps, paintings and birdhouses.

Machado believes it's a destination site in St. Maries.

"There's not another shop like it in town," she said.

It is open 9-5 weekdays and 10-4 Saturday.

They're confident spring and summer will bring more business to their door.

Machado, who grew up in St. Maries and lives there today with her husband and fellow artist Jerry, said they plan to offer organic tea and coffee soon, along with desserts.

Information: 245-6898

Timberline Resources Corp. reports first-quarter loss

Timberline Resources Corp. (NYSE Amex:TLR) reported an after-tax net loss of $930,000 for its first fiscal quarter, which ended Dec. 31, 2009.

For the first fiscal quarter, Timberline reported total consolidated revenues of $3.96 million. Timberline's contract drilling subsidiaries, Timberline Drilling Inc., and World Wide Exploration, S.A. de C.V. reported combined revenues of $3.96 million and a combined after-tax net income of 150,000 for the first quarter, the third consecutive quarter of positive combined net income for Timberline's contract drilling subsidiaries.

Timberline's corporate office and exploration division reported a net loss of $1.08 million for the quarter, which included $280,000 million in non-cash charges, $50,000 in exploration expenditures, $0.64 million in general and administrative costs, and $0.14 million in interest expenses, offset by interest and other income of $30,000.

"We had a successful and eventful quarter to end calendar year 2009," Randal Hardy, Timberline chief executive officer, said in a press release. "Our Butte Highlands Gold Project joint venture is progressing, and our contract drilling subsidiaries performed well in the traditionally challenging first fiscal quarter. We expect that our drilling revenues and profitability will continue to increase as the economy improves, resource companies obtain financing, and metals prices remain strong. Our drilling team continues to focus on reducing costs and improving productivity for our customers. At Butte Highlands, we have continued to work throughout the winter months."

Timberline reported site facilities have been completed, and they are advancing the underground development ramp. In a few months, Timberline will begin underground delineation drilling.

"In the meantime, we are working diligently on the mine engineering and other data required to submit our operating permit application," Hardy said. "Finally, we continue to evaluate strategic opportunities that fit our business plan, as we believe we are well-positioned to take advantage of opportunities that exist in today's market."

Timberline's Quarterly Report on Form 10-Q can be viewed in its entirety on the SEC Web site which can be accessed from the "Investors" page of the Timberline Web site at www.timberline-resources.com.

If you have a new, relocated or expanded business, or announcement of events, promotions or awards, The Press wants to let our readers know. The service is free and items run Tuesday through Saturday. To get the word on the street on your movers and shakers, call city editor Bill Buley at 664-8176 Ext. 2016 or e-mail bbuley@cdapress.com.