Members of the trust that has just been given the rights to run trains on the line said they are targeting the end of July or early August for having trains running again.
Earlier this year the Llangollen Railway PLC, the operating arm of the attraction, went into administration insolvent to the tune of £350,000.
This week the administrators agreed to sell the business, including the right to use the line, for an undisclosed sum to the solvent Llangollen Railway Trust.
However some rolling stock, machinery and vehicles owned by the PLC was not included in the sale and will be auctioned in May.
Spokesman for the trust Phil Freeth, said: "It remains too soon to speculate when reopening might be but we are targeting the end of July or early August currently.
"Looking ahead to the preparation for reopening phase, £100,000 approximately is needed to cover necessary overheads, for which we hope to attract at least some grant funding."
"The Safety Management System will have to be rewritten to some degree and fresh approval sought from the Office of Rail & Road. Liz Parkes of North York Moors Railway has been helping us in this regard and we are very appreciative of her support."
Anyone wishing to support the railway should go online to llangollenrailway.enthuse.com and click the Donate button, or via its Facebook page. For taxpayers, the Railway can apply for 25 per cent Gift Aid. Alternatively, supporters are invited to send cheques payable to Llangollen Railway Trust Ltd to The Station, Abbey Road, Llangollen LL20 8SN.