Millrock Resources Inc. (TSX-V: MRO) is a project generator company focused on discovery and development of high value metallic mineral and uranium deposits targeting three states of outstanding potential, Alaska, Arizona and New Mexico, as well as Mexico – primarily in the state of Sonora. The company’s main emphasis has been on gold and copper focusing on porphyry and high grade vein style deposits, but has recently expanded into uranium, where the company feels the potential to acquire undervalued properties is excellent. SNNLive spoke with Gregory Beischer, President & CEO of Millrock Resources Inc. at the New Orleans Investment Conference 2014.
Mr. Beischer begins with an overview of the company, “We’re exploration geologists, our job is to find a giant ore body and pass it off at great profit to a company like Newmont or Barrick, one of the bigger mining companies in the world. So we are explorers, but we take the approach given the very high risk in early-stage exploration of being a project generator. So we have numerous projects at any one time, we’re active in Alaska and Mexico primarily. Gold/Copper is the main focus, also uranium and we make partnerships with major mining companies to fund the exploration on the projects.”
He explains how the current low prices of precious metals is beneficial to Millrock, “These are the best of times for the project generator, there are so many bargain opportunities out there for us if we have cash – well, we have the cash. We just closed a financing for $4 million, that’s enough to last us at least three years, but we can deploy some of that cash judicially to acquire yet more assets that we know will be worth much more when the market turns back around.”
Millrock has over 20 exploration projects that contain a number of different commodities, “You can think of our company like a mutual fund of exploration projects, and really for me it all comes down to reducing risk, it’s an inherently very risky business. So we’re just looking for a way to reduce the risk, diversify across a variety of commodities and a variety of projects and therefore increase the chance that we will make the discovery that will be for the great benefit of our shareholders”. For more information, check out their website at www.MillrockResources.com
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