Was coming from front of motor somewhere, I was thinking alternator bearing, or similar.
I finaly found the noise with a garden hose in my better ear, moving the other end around,
till the nasty sound got louder.
After disassembly of entire timing belt etc, it was found to be a rubber gasket,
behind the rear piece that timing belt cover fits to.
It was too thick, thus it was slowly distorting the cover, till it hit the timing pulley.
Glad I found it before things went astray.
