Eagle Plains Resources Falls to Yr Low, Enters into Option Agreement with Providence on Kokanee Creek Project, B.C

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Eagle Plains Resources (EPL.V) is down half a cent to a yr low of 7 cents late morning, on volume 314,700.

The company yesterday reported that it and Povidence Resources Corp. (PV.V) have entered into an agreement whereby Providence may earn an interest in the Kokanee Creek poly-metallic property, in south-eastern British Columbia.

Under terms of the agreement, Providence has the option to earn a 60% interest in the property by completing $3 million in exploration expenditures, making $260,000 in cash payments and issuing 1 million common shares to Eagle Plains over 5 years. Â

Providence is unchanged at 10 cents, a yr low.



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This article appears in: Investing , Commodities

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