Eagle Plains Resources Ltd (EPL-V: $0.095)
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Kaiser Watch January 3, 2025: The KRO 2025 Favorites Collection Part 1
See Entire KW Episode Blog Direct YouTube Link for Entire Episode
(0:23:31): Why did you add Eagle Plains Resources Ltd to the 2025 KRO Favorites?
Eagle Plains Resources Ltd is one of two prospect-generator-farmout juniors added to the 2025 Favorites Collection as bets that the secular bear market will come to an end and spur other juniors to option properties from Eagle Plains. The junior has been around for decades without a rollback and has done several spinouts. Headed by Tim Termuende and Chuck Downie Eagle Plains is a successful survivor at this game which specializes in western Canada and has a healthy treasury of about $8 million. It is cheap and Bottom-Fish Spec Value rated because during the current bear market there is limited appetite from other juniors to farm into the projects Eagle Plains generates by studying historical assessment work and being very efficient at map staking claims when they come open. And even when these juniors do option a project they have a hard time raising capital to conduct meaningful exploration. Eagle Plains is not dogmatic about the farmout model and will spend its own money on projects where its geologists believe targets represent low hanging fruit. For example the junior in 2023 spent over $1 million drilling Sullivan 2 targets at its Vulcan project and concluded that the target was elsewhere on the property. The outcome of the planned followup program remains in limbo because the junior is still waiting for new drill permits. Thanks to Prime Minister Justin Trudeau's decision to make Canada embrace UNDRIP and elevate First Nations to the status of an aristocracy with a final say on the future of exploration and development of Canada's natural resources, western Canada is plagued by a permitting regime which requires First Nations consultation which First Nations aren't always in a hurry to engage in. The Iron Range farmout has also been trapped in a First Nations caused limbo. Perhaps with Trudeau's departure and an incoming US president who may not be joking about annexing Canada as the 51st state the First Nations may shift into a more collaborative mode. The missing pieces that trap Eagle Plains with a Bottom-Fish spec value rating are the need for a resource junior bull market to emerge which enables Eagle Plains to do more farmouts that get funded, and that the attitude of First Nations shifts from obstruction to productive collaboration. The first will depend on the degree that the conflict between Global West and East intensifies and highlights the need to develop mines in secure jurisdictions. The latter could happen on a broader scale if a mandate emerges from Ottawa that UNDRIP is not a tool to make Canada a hostile acquisition target for the United States, or at a local scale where the bands in the vicinity of a project that requires exploration work decide it is in their interest to collaborate. In terms of a flagship that Eagle Plains might drill with its own dime, that currently is the George Lake project in Saskatchewan which hosts a modest SEDEX style zinc deposit that deserves a rethink.
Eagle Plains Resources Ltd as a prospect-generator-farmout proxy for the health of the resource junior sector

*JK owns shares in Eagle Plains Resources Ltd

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