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Eagle Plains Resources Limited: Up 9.26% in 1 day

This multi-metal explorer has bucked the trend and performed really well while the rest of its asset class took a battering.

When it comes to asset management we had difficulty placing this stock as it had Inferred Resources of 38 million ounces silver, 1.2 billion pounds of lead, 1.3 billion pounds of zinc and 48 million pounds of molybdenum. You can also through in some Uranium just to spice it up a little. Anyway we finally decided to place it with our silver mining assets. As a generator of projects this stock will evolve over time and spin off various parts of its business as and when it is financially prudent to do so, just as it did with Copper Canyon Resources Limited.

We first wrote about Eagle Plains Resources Limited when it was 53 cents and we are still very excited by its future potential to be a high performing asset. During the last two months we have seen some consolidation at the 50-cent level with the volume remaining fairly consistent even though it is on the low side. However when acquiring such an asset as this it should be remembered that it has a Market Capitalisation of only $CND 28 million, so any major investment could move the price. Expect volatility and you wont be surprised when she comes knocking.

We are holding and accumulating more of this asset as and when we are able to do so.

Copper Canyon we will continue to hold and watch for the moment.

Eagle Plains Ltd can be found on the TSX as EPL

Copper Canyon can be found on the TSX as CPY

10 September 2006

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