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Using the Historically Successful Project Generator Business Model, Yale Resources has become The Partner of Choice for Exploration in Mexico
Jr. Oil & Gas
Jr. Gold CCD
Medical Device COO
Commercial Banks EMPK
Ian Foreman, P.Geo. - President and Director
Mr. Foreman graduated
with honors from Queen's University in 1992 and has worked in a wide
spectrum of geological environments involving both base and
precious metals. He has worked for various
junior mining and exploration companies in North and South America.
Throughout the mid 1990's Mr. Foreman worked on a series of large
multi-million dollar exploration programs
in British Columbia, Yukon and
Mexico. From 1998 through 2002 Mr. Foreman
worked on various projects exclusively in Peru.
As Chief Geologist, he was a key figure in putting the 1,000 tonne-per-day
Santa Rosa open pit gold-silver mine into production.
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFOinterviews.com, Published – June 17, 2011
The Project Generator business model historically has been one of the most
successful in our industry. A Project Generator acquires undervalued
projects then advances them and/or incubates them. We then look for other
resource companies to acquire a percentage interest (an option) by making
staged payments, share issuances and exploration commitments over a number
of years. Upon successful completion of an option Yale would then have a
minority interest in a project but that project would be much more valuable
as a result of the dollars spent.
What came into play in deciding on the plan?
CEOCFO: Any bumps in the model that you look out for?
We didn't realize how long it was going to take to become a recognized
"Project Generator"... in fact I don't think that our shareholders fully
grasp that either. We are also aware now as to why there aren't many project
generators - it is very difficult to do well.
CEOCFO: Is there a geographic or mineral specific focus or are decisions opportunistic?
Yale concentrates solely in Mexico with a focus in the northwestern states
of Sonora and Chihuahua.
Mr. Foreman: Yale has a much smaller market cap. than other Project Generators. Companies option projects from Yale because we have quality projects and we provide great support to the companies that option our projects. It is important to us that we are able to provide a wide range of services to and for the companies that option our properties. As such we have very strong relationships with some of the best service providers in Mexico - labs, drilling and geophysics to name a few.
Yale has approximately $600,000 in cash and securities. A huge benefit to
the Project Generator business model is that our burn rate (or monthly
expenditures) is very low. As such our requirements for cash are much much
smaller than a similarly sized exploration company.
Mr. Foreman: First is that the partners fund the exploration until ‘earn-in’ is completed, so they take the risk of exploration. This reduces the need for Yale to finance and continual dilution via cash and share payments to Yale for partner earn in. Therefore, it reduces risk to Yale shareholders and protects them from the downside. Finally, Yale will share in any success of exploration by being shareholder.
Mr. Foreman: Yale has an established and extensive contact base in Mexico. We can provide on the ground expertise and be the operator for the project. Yale's expertise allows for low overhead with respect to running projects. In addition, we have already shown the capacity to find potentially significant projects. Then there is Yale's in-house legal team that has the ability to handle all types of negotiations and situations with vendors, contractors and land owners. Finally, there is Yale's management and Board of Directors, which has significant exploration and production experience.
CEOCFO: What is your two minute take on gold, commodities, the macro economic landscape?
Mr. Foreman: Precious Metals still have a long way to go and I feel that the Juniors have yet to have been picked up as the Majors were last year. I feel that the Junior market is still going to be very robust for at least the next two years.
CEOCFO: In closing, why should investors pick Yale out of the crowd?
Mr. Foreman: In my opinion Yale is undervalued. We continue to grow and find companies to option our projects. The more projects we have optioned out and the more money our partners spend on our projects the more news and developments Yale will have. It is a business model that grows upon its own success. The more projects we have optioned out the more news on our projects and the more attention Yale receives. The more success our partners have the more value Yale acquires in its share portfolio. By nature of our business model Yale is a growth stock with goals of year over year gains, however, with success by our partners there is always the chance for a significant spike in our valuation and therefore our share price.
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The Project Generator business model historically has been one of the most successful in our industry. A Project Generator acquires undervalued projects then advances them and/or incubates them. We then look for other resource companies to acquire a percentage interest (an option) by making staged payments, share issuances and exploration commitments over a number of years. Upon successful completion of an option Yale would then have a minority interest in a project but that project would be much more valuable as a result of the dollars spent. - Ian Foreman, P.Geo.
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