The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
EPL: TSX-V
President and CEO: Timothy J. Termuende, P.Geo.
Chief Financial Officer: Glen Diduck, CA
Vice-President Exploration: Charles C. Downie, P.Geo.
Eagle Plains Resources Ltd. is a mineral exploration and development company holding 45 gold, silver, uranium, copper, molybdenum, lead, zinc, gypsum and rare earth elements properties in Western Canada, 14 of which are under option agreements with third parties.
The junior reported one of its busiest exploration seasons in with a budget of just under C$10 million for 2011.
By mid-year the company had entered into three new option agreements, continued with exploration on its precious and base metal Iron Range Project in southern British Columbia and started 2011 summer exploration at projects with partners in British Columbia, Saskatchewan, Yukon Territory and Northwest Territories.
In August, Eagle Plains also entered into two further option agreements on properties in British Columbia.
Though gold, silver and base-metal prices have experienced dramatic upswings in recent months, the company said markets continue to be relatively unresponsive.
Despite this, the company remains active on the exploration front, with wholly-owned mineral exploration and geologic consulting subsidiary TerraLogic Exploration seeing unprecedented activity.
A large number of exploration programs are either planned or currently under way on Eagle Plains' projects, many of which are funded by third-party interests.
The company also successfully negotiated a number of new option/joint-venture partnerships recently, adding stability and limited cash-flow to its balance sheet.
Given the uncertainty inherent to the exploration industry and the even more turbulent economic situation globally, the company's management said it will stick to its business plan, which focuses on benefiting from wide exposure to potential exploration success and further commodity swings.
Cash and short-term deposits: C$ 4.66 million (June 30, 2011)
Working capital: C$7.55 million (June 30, 2011)
Market capitalization: C$24.97 million (Sept. 9, 2011)
Suite 200, 44 - 12th Ave. South
Cranbrook, B.C., Canada V1C 2R7
Ph: 250-426-0749 Fax: 250-426-6899
Reader Comments(0)