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« Silver Lining to this pullback | Main | Randgold Resources Limited: Insurance Against a Fall? »

Eagle Plains Resources Limited Up 12% Yesterday

EPL Chart 10 jun 09.JPG
Chart courtesy of Stockcharts

Eagle Plains Resources primary objective is to enhance shareholder value through mining gold along with the acquisition and development of early-stage exploration projects. The company currently controls over 35 gold, silver, uranium, copper, molybdenum, zinc and rare earth mineral projects, one of which contains an NI 43-101 compliant Inferred Resource. The stock has been beaten down but now appears to be making a reasonable attempt to recover.

In a recent news release the company announced that they are making good progress with the “Yellowjacket JV” as follows:

Cranbrook, B.C., 04 June, 2009: Eagle Plains Resources Ltd. (EPL:TSX-V) and Prize Mining Corp. (PRZ:TSX-V) jointly announce that the Yellowjacket Venture (“Yellowjacket JV”) has now completed modifications on its 350 tonne per day mill at the Yellowjacket Gold Project, located near Atlin, BC, and has begun processing of stockpiled material.

Processing of stockpiled mineralized bulk sample material has now commenced under the existing Bulk Sampling Exploration Permit. Once the remainder of the bulk sample has been processed and the new Mines Act Permit is obtained, full-scale bedrock mining and milling operations will commence.

We bought this stock for around $0.53 on the 22nd July 2006 and have seen this stock suffer some volatile oscillations, however we are still holding and are pleased to see it making steady progress and close yesterday at $0.28 as the above chart indicates. One to keep on your watch list as future spin offs could be lucrative for shareholders.

Eagle Plains trades on the TSX Venture exchange under the symbol of EPL, has a market capitalization of $17.73 million with 63.31 million shares outstanding and has traded as low as $0.05 and as high as $0.35 over the last year.

Have a sparkling week.

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EPL Logo 10 jun 09.JPG

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