Rick Rule Canplats Resources Corp CPQ-X TOP PICK Sep 01, 2009

Invested in this company because of management. They have 2 geologists that will scour Mexico, find projects, bring them to this company who will then find joint-venture partners.

Made a very interesting discovery in Mexico. Initial resource, which is sitting right at surface, is an oxide cap, has the potential to be anywhere from 1 to 3 million ounces. A few deep holes going into the sulphide zone shows there are grades in the sulphide. Has the potential to go a lot higher but will need more drill holes. Top stock on his radar screen.

Thinks it will be financed in a fairly short-term. Project is a fairly high-grade large deposit with good infrastructure. Upfront capital costs are low enough that even in today's credit climate it can be built. Believes it is a takeover target this year.

(Market Call Minute.) Great deposit. He can come up with a $4 price on it. The issue they have is management has not been able to move it forward.

(Top Pick Sep 1/09, Up 123.47%) Taken over.