Yale Summarizes Difficult 2011 and Looks Forward to 2012
23.12.2011 | Business Wire
VANCOUVER, British Columbia -- (BUSINESS WIRE) -- Yale Resources Ltd. (TSX-V: YLL, Pink Sheets: YRLLF, and FSE: YAB) is pleased to provide a summary of its finances in 2011 and give an overview of its plans for 2012.In calendar year 2011 Yale generated modest revenue of approximately $193,000 as a result of cash payments and management fees from optionees, sale of shares in optionees, oil and gas revenue, and consulting for third party companies. In addition, current free trading, saleable, shares amount to approximately $227,000 as of Dec. 22.
“The combination of revenue, current liquid assets and exploration expenditures funded by our optionees amounts to the equivalent of approximately 26,500,000 shares, on a fully diluted basis, in financings at $0.05 that Yale would have been required to add to the capital of the Company – a 30 % dilution in the Company that didn’t happen – thus showing the true value of our business model,” stated Ian Foreman, P.Geo., president of Yale Resources. “This has been a difficult year but not only did we survive, we were able to expand our operations in Mexico and build on our business model by finding additional value-added optionees for our projects.”
Moving forward in 2012, the Company anticipates large optionee-funded work programs on at least three projects with Yale as the current operator on each of those projects. In advance of these projects the Company is adding to its Mexican work force. In addition, the Company will continue to review opportunities to add to its portfolio of projects as well as seek additional optionees for its 3 un-optioned properties.
About Yale Resources:
Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has eight projects in its portfolio of which five are optioned out with commitments totalling approximately $1.3 M in expenditures during the next 12 months.
On behalf of the Board,
“Ian Foreman”
Ian Foreman, P.Geo., President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contacts
Yale Resources Ltd.
Ian Foreman
604-678-2531