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« Silver Prices Up Over 50 Cents: Fulfilling Our Prediction | Main | Hecla Mining: Rallies Up 22.89% »

Eagle Plains Up Over 77% Since Our BUY

We signalled a BUY on Eagle Plains at 53 cents on July 22nd, nearly one year ago.

Eagle Plains Up Over 77% Since Our BUY

Since then it has gained 77.35% as it closed at 94 cents yesterday.

Eagle Plains is involved in the exploration arena of the resource industry, with a variety of projects. In total, Eagle Plains controls 35 projects with gold, silver, uranium, molybdenum and copper aspects. Due to the large number of properties, we will not go into all of them at the moment but the key thing the focus on is management as this is the most crucial part for succeeding in the exploration business.

The management at Eagle Plains is second to none. The CEO, President and Director, Tim J. Termuende, P.Geo. has a great team working to create serious shareholder value. To give you some idea of what this team is capable of, we will use the example of Copper Canyon, which Eagle Plains spun off about a year ago. Copper Canyon is now worth about $45 million but it didn't get there by itself. It took great skill and expertise to get the company to where it is today and considering Eagle Plains first bought the Cooper Canyon property for about $10,000 they have done remarkably well. Larger companies are now starting to recognise the value of this company and recently Teck Cominco agreed to a strategic alliance with EPL, a very positive sign.

Also, Eagle Plains have been focused on British Columbia, Canada for a number of years. Even though many companies left the area some time ago, Eagle Plains has stayed put and now as companies are coming back to BC, Eagle Plains is already in position, taking advantage of un-explored areas as well as other benefits such as the significant tax breaks that exploration companies enjoy in BC.

Eagle Plains also has over 35 million ounces of silver, and it is performing very well, we will continue to keep this stock as a BUY on our silver portfolio. However the stock is looking a bit spiky, but we will hold through any pullback that may be around the corner.

Eagle Plains trades as EPL on the TSX Venture.

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