Yale Resources generates revenue of $193,000 in 2011
Yale Resources Ltd (C:YLL)
Shares Issued 80,841,379
Last Close 12/22/2011
.045
Friday December 23 2011 - News Release
Mr. Ian Foreman reports
YALE SUMMARIZES DIFFICULT 2011 AND LOOKS FORWARD TO 2012
Yale Resources Ltd. has provided a summary of its finances in 2011 and given 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 26.5 million shares, on a fully diluted basis, in financings at five cents that Yale would have been required to add to the capital of the company -- a 30-per-cent dilution in the company that didn't happen -- thus showing the true value of our business model," stated Ian Foreman, PGeo, 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-financed 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 three unoptioned properties.