Proven & Probable is proudly sponsored by:
A PREMIER PROJECT GENERATOR
TSX-V: MRO – OTCQX: MLRKF
Millrock (TSX.V: MRO.V) is a project generator company focused on discovery and development of high-value metallic mineral deposits in four jurisdictions with outstanding potential: the State of Alaska, British Columbia, the Southwest USA, and Mexico – primarily the state of Sonora.
The company’s main emphasis has been on gold and copper, focusing on porphyry and high-grade vein style deposits.
The company currently has projects in Alaska, British Columbia, Mexico, and New Mexico.
Our objective is to discover a world-class ore body, building further shareholder value through the exploration and development of existing projects and exploration joint ventures
Benefits Of The Model
Because mineral exploration is risky, the project generator model makes good business sense. The model has a number of distinct benefits:
By progressing multiple projects at once, a project generator is able to reduce the risk of any single project failure damaging the company.
By using partner-funds to pay for exploration, the project generator is able to complete exploration on multiple projects simultaneously. Each active project increases the opportunity for discovery.
By using partner-capital to fund exploration, a project generator reduces the amount of shareholder capital it has to spend on exploration.
By reducing the amount of shareholder capital required, a project generator is able to significantly reduce their reliance on the market for financing. This means less dilution for shareholders.
Because a project generator doesn’t have to focus on any single project, it can work to build a diverse portfolio of projects including different commodities in different jurisdictions. The model also allows for project turnover, letting the company remove a project it feels no longer has value without shaking investor confidence.
Valuable Industry Partners
Many project generators partner with some of the world’s best mining companies. These partners can share valuable knowledge, lend expertise on the project or market and help move the project forward upon discovery. These partnerships also act as a sign of confidence for investors, as high-quality companies don’t invest in just any project.
Longevity and Sustainability
By funding drilling with partner capital, bringing in cash flow from option agreements and having multiple projects progressing at once, a project generator becomes a more sustainable exploration company, able to continue exploring in both good markets and bad.
Successful exploration takes time, good science, and a systematic approach. For most explorers, when one or two projects fail, the whole company fails and investors lose everything.
Project generators avoid this by relying on partner-funding to move projects forward, limiting their reliance on the markets while still exposing shareholders to the upside of mineral discovery.
Ultimately, the model helps hedge against the immense risks of junior exploration and creates a company that has longevity and sustainability.
Gregory Beischer, B.Sc., CPG
President & CEO, Director
Mr. Beischer is a seasoned explorationist with a solid track record of success, previously with Inco Ltd., and the Bristol Bay Native Corporation. He is a geologist and mining engineering technologist having graduated from Laurentian University (1987), Sudbury, Ontario, and the Haileybury School of Mines (1981), Haileybury, Ontario. Mr. Beischer is a certified professional geologist (#10505) with the American Institute of Professional Geologists. Mr. Beischer is the past President of the Alaska Miner’s Association, and serves on the Alaska Minerals Commission.
Philip St. George,
B.S (Geol.) Chief Exploration Officer
Philip St. George obtained his bachelor’s degree in geology from the University of Idaho. He is an exploration geologist with some significant discoveries to his credit.
Mr. St. George was the first to recognize the porphyry mineralization at the Pebble deposit in Alaska, and led the Cominco team that drilled out the initial 500 million tons of gold-copper-molybdenum mineralization. As the Vice-President of Exploration for Novagold Resources (1998 – 2003), Mr. St. George’s team added 12 million ounces to Donlin Creek’s resource.