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Please review the Sector, Industry, company name,
CEO/CFO name and title, ticker, exchange, address and phone number below:
What sets Yale Resources apart is that they are a
small dynamic company that is able to accelerate their exploration programs
quickly allowing them to rapidly make decisions on future drilling programs and
the necessary capital for them
Exploration
Metals-Mining
(YLL-TSXV)
Yale Resources Ltd.
Phone: 604-678-2531
Ian Foreman, P.Geo.
President and Director
Interview conducted by:
CEOCFOinterviews.com
Published – June 8, 2007
BIO:
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
Company Profile:
Yale Resources Ltd. has a growing portfolio of highly prospective projects
in
In order to "increase shareholder value", Yale Resources' business
plan is to acquire or option projects that meet the Company's criterion and
advance them to the drill stage as rapidly as possible. Prospective projects
need to have: significant 'blue sky' potential; previous production; proximity
to active mines or major projects; and good access and infrastructure
CEOCFO: Mr. Foreman, what is the
vision for Yale and how are you getting there?
Mr. Foreman: “We break our vision into short-term and long-term goals.
Our short-term goals are to acquire a portfolio of interesting projects in
CEOCFO: What do you like about
Mr. Foreman: “What is there not to like about
CEOCFO: Please tell us about your projects there.
Mr. Foreman: “At the moment we have three projects that we are
currently working on. We have the Urique Project,
which we have a joint venture with a company called EXMIN Resources Inc.(TSXV:EXM). We have an option to earn a 75% interest in
that property. The Urique project is a huge land
package. It is 290 square kilometers and it is right in the middle of some of
the most perspective land in northern
CEOCFO: Is the mix in minerals by design?
Mr. Foreman: “Absolutely, it is by design in that we want to have a basket of properties that take advantage of the markets hot assessments for the minerals market. As the minerals exploration industry is so cyclical, we think for the long-term success of the company, we do not necessarily want to be tied to one particular cycle such that for example, if gold were to dive to $350 dollars per ton in the next week, all of the gold focus companies would obviously hurt from that. If we take projects from a basis of having good economic and geologic potential regardless of the mineral, we think that puts us in better stead for the long-term future of the company.”
CEOCFO: How do you decide which projects to take on?
Mr. Foreman: “Certainly, there is always a case of if it was that good, why didn’t a company keep it to themselves. In our industry there are two primary groups of companies, one is what we call the project generator and this is a company that identifies targets and potentially keeps several to themselves, but they then option them out and that reduces the risk on their part because then they can find partners to use the partner’s money on their projects. If something is found, they didn’t spend a penny to find it and they have a percentage of whatever is found. The other groups of companies are the companies that utilize the project generators and option projects from them. There isn’t necessarily a case of if it is so good why vend it out to somebody. The case is how much does it cost to actually identify an economic ore body, and is a company willing to do that. If they have eight projects, maybe they could option more projects out and have greater odds of success because they have multiple partners working on multiple projects at the same time.”
CEOCFO: You have beefed up your team recently; are you ready now?
Mr. Foreman: “I guess the cheeky answer is we were ready when we
started in
CEOCFO: What is the financial picture for Yale today?
Mr. Foreman: “We did a financing in December last year and we raised just over $1 million. We currently just passed the $600 thousand mark, so we have about $600 thousand in the bank. We have been very careful with how we spend our money, but with our drilling program that has been completed and with ongoing exploration programs, a majority of our money is spoken for with regards to ongoing exploration.”
CEOCFO: I see there is a quote on your website, “there are no secrets to success, it is the result of preparation, hard work and learning,” that is a quote from Colin Powell as indicated on your site. How does that apply for Yale?
Mr. Foreman: “I think that the reality is that everyone that is associated
with this industry understands how difficult it is to become very successful.
We are surrounded by a group of men on our board of
directors that have been there and done that. One of our board members is the
president and CEO of a producing gold mining company. We have a gentleman on our board who was on the team that found one of
CEOCFO: Why should potential investors be interested in Yale Resources?
Mr. Foreman: “I think what sets Yale apart from a lot of other companies is the fact that we are a small growing company that has been very dynamic. We have been able to accelerate our exploration programs such that we advance projects as quickly as possible, allowing us to make a decision on future drilling programs, exploration programs, and the necessary capital involved in that as quickly as possible. That results in less waste with regards to the investors’ money. We want to put as much money as we can into the ground because that is where the results come from.”
CEOCFO: Final thoughts?
Mr. Foreman: “I think one thing that is important for current and
future investors is that we are very active and have a lot of activity going on
in the field and that will translate into lots of results and corporate
developments coming up.”
Headline: (Here are the headlines that we are considering; you may
select one and delete the others!)
What sets Yale Resources apart is that they are a small dynamic company that is
able to accelerate their exploration program allowing them to make decisions on
future drilling programs and the necessary capital.
Pull Quote: (Here are the quotes that we
are considering; you may select one and delete the others!)
“In reality