Here is the response in reply to my email.
Firstly, thanks for your interest in Yale.
The most important recent activity in Yale is the recent announcement of our deal with Mammoth Capital for the Urique Property. This is a very strong deal and if the property is half as good as we believe it to be, Yale will become a significant share holder in Mammoth. In addition to that we will be the operator of the property and as such our costs in Mexico will be partially covered by them and we will charge a management fee for the privilege of them using our staff.
As for the 'water deal', that must have come from someone who doesn't truly understand Yale's business model and how we are tweaking the project generator model. The 'water' company is now Sonora Resource Crop. and they are trading around $0.5! Yale helped them with an early stage project such that they could transition into the resource sector - they now have a deal with First Majestic and Grupo Mexico!! Not bad for a 'water deal'... Regardless of the success at Los Amoles, Yale will get to benefit from their successes on other projects as Yale currently owns 400,000 shares in Sonora - not a bad addition to our stock portfolio of our partners. In addition to that, they have spent more than $100,000 on our property (don't forget that this was an early stage property - even though there are more than 40 historic mines/workings) and are in the process of putting together a 43-101 qualifying technical report. I'd say that this has been a very beneficial deal to Yale's shareholders.
We put the first project (Zacatecas) into a CPC called Enviro Energy and they are now Silver Sun Resources and are in the process of putting a gold mine into production in California - Yale is still a shareholder in SSU and has been able to sell some of their shares to help support our exploration efforts etc.
By definition, the project generator business model requires patience on the part of shareholders... look at the success that Almaden is having, but don't forget that they have been in business since the 70's! It takes time for this business model to mature. As the number of deals increases the number of properties that we can carry at once also increases - we are growing organically. It is a shame that some shareholders don't have the required patience needed...
Thanks again for your interest in Yale and I encourage you to get in touch as I can better explain what we're doing on the phone.
all the best,
Ian
604-678-2531
At 02:58 PM 16/09/2011, you wrote:
Hello Mr. Ian,
I am a new investor in your company - could put some highlights of recent activities on Yale resources. I've checked the comments on the chat forums and some of the responces appear to be negaive - what is the water deal that is mentioned? I would appreciate it.
Thank you
Roshan
p.s. I may post your responce.
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