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Share price moving higher .65 showing an overhang that must be overcome.
Perhaps the Market is waking up to appreciate the company's value.
Today's PR shows why share price has increased
Was there a leak??
But good news for shareholders.
Cayden Resources Inc (C:CYD)
Shares Issued 41,564,484
Last Close 9/3/2013 $1.55
Wednesday September 04 2013 - News Release
Mr. Ivan Bebek reports
CAYDEN DISCOVERS MORE HIGH GRADES IN TRENCHES AT EL BARQUENO, EXTENDS STRIKE LENGTH AND PREPARES TO COMMENCE DRILLING
Cayden Resources Inc. has released additional results from its continuing surface program on the El Barqueno gold property located in Jalisco state, Mexico.
The Pena de Oro target area trench highlights include 20 meters of 3.6 g/t Au, 8 meters of 7.9 g/t Au and 9 meters of 7.9 g/t Au. These new results extend the known mineralization in both directions along strike; to a total strike length of 800 meters (See Figure 1 below or website at www.caydenresources.com).
- ------------------------------------
At the Azteca target area, Cayden has trenched 4 meters of 41.6 g/t Au including 2 meters of 74.2 g/t Au in a new discovery to the northeast of the current known surface mineralization. With these latest results, the strike length of the Azteca target area has been extended from 1.4 km to 2.2 km (See Figure 2 below or website at www.caydenresources.com). The samples were taken using hand-dug trenches on limited outcropping (following up on soil and grab sample anomalies - see NR dated July 18, 2013). The highest gold values came from rocks containing massive iron oxide, including specular hematite accompanied by lesser amounts of banded quartz veining.
The majority of trenches in both target areas end in mineralization. Cayden is currently extending these trenches and expanding the scope of the rest of the surface exploration program throughout the concessions.
The initial drill program is scheduled to start on Tuesday, September 10th and will consist of 5,000 meters that will be drilled on and around the Azteca target area. The initial program will consist of approximately 25 holes at an overall average depth of 200 meters.
Ivan Bebek, President and CEO commented, "We are excited to start our initial drill program at the Azteca target area next week where we have encountered extensive gold mineralization at surface in the past 9 months. We are also very pleased with the fact that we are still continuing to add strike length to our existing targets and finding new gold targets throughout the concessions."
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Barqueno. All trench intercepts were obtained from continuous channel sampling at 0.75 to 1.5 meter intervals, primarily through road cuts and trenches excavated by previous operators. As the mapped mineralized corridors strike EW to ENE, the trenches and road cuts intersect the mineralization as close to perpendicular as possible. Thus, the Company believes that the trench intercepts represent 70-100 percent of the true width except where noted. Intercepts were calculated assuming a bulk-mining scenario, with a width cutoff of five meters and grade cutoff of 0.5 g/t Au. The wider intercepts have, at maximum, five consecutive meters less than 0.2 g/t at which time two intercepts were composited. Any intercepts that are bound by less than five meters of less than 0.2 g/t at the beginning and end of the trench length are considered open. All samples are assayed using standard 30 gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Ca. QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. On Behalf of the Board, Ivan Bebek, President and CEO.
Share price starting to look like it is under accumulation'
This article gives positive reasons but to me the author may have an agenda. But what he posts does seem logical.
http://www.321gold.com/editorials/moriarty/moriarty052213.html
$CDKNF - $CYD.V - Cayden Samples 29 m of 3.1 g/t Gold at El Barqueño in a new target area and receives drill permit
http://www.caydenresources.com/index.php/news157/2013/163-cayden-samples-29-m-of-3-1-g-t-gold-at-el-barqueno-in-a-new-target-area-and-receives-drill-permit
$CDKNF - $CYD.V - Cayden Announces drill results from La Magnetita, Morelos Sur Concession, Mexico
http://www.caydenresources.com/index.php/news157/2013/162-cayden-announces-drill-results-from-la-magnetita-morelos-sur-concession-mexico
Vancouver, British Columbia – August 12th, 2013 – Cayden Resources Inc. (TSX.V:CYD) (“Cayden” or the “Company”) announces the results from its thirteen hole core drilling program at the La Magnetita East target on its Morelos Sur Concession located in Guerrero State, Mexico (table below). Eleven of thirteen drill holes intercepted significantly anomalous skarn mineralization hosted in a contact zone between limestone and a large magnetic granodiorite stock (see Figure 1 for plan map, Figure 2 for cross-section, other anomalous intercepts are shown in Table 1).
The current program tested only a small section of the contact zone of one of two large granodiorite stocks which trend for another 2 km in a NNW direction. The program at La Magnetita was successful in finding significant intercepts of gold mineralization in a Guerrero Gold Belt geologic setting similar to that of the nearby Los Filos (Goldcorp) and Morelos (Torex) gold deposits.
Cayden director, David M. Jones, M.Sc (Geo), who has over 20 years experience in the Guerrero Gold Belt and who is credited with the discovery of Goldcorp’s Los Filos deposit, commented “the geologic setting and style of skarn alteration associated with the gold mineralization identified through this program is characteristic of what is typically seen in the Guerrero Gold Belt. The La Magnetita target is important owing to the similarity of its geologic, geochemical, and geophysical expression with that of the nearby deposits.”
The Company’s technical team will be designing a follow-up program to further test the granodiorite/ limestone contact at La Magnetita.
Table 1. Gold and Silver Mineralization Encountered in Cayden’s Core Holes at La Magnetita East Drilling:
(NS = not significantly anomalous)
Cayden CEO Ivan Bebek, commented, “The La Magnetita skarn target is significant and clearly warrants a further concerted exploration effort. The drill results demonstrate the presence of gold mineralization and have only tested a small portion of a very large target. The Morelos Sur property is a great complement to our El Barqueño project where we have recently discovered impressive gold values on surface over a 8 km strike length.”
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at Morelos Sur. All core is drilled at HQ or NQ diameter and is sawed or split into equal halves on site. All samples are assayed using standard 30 gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Ca. QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. The Company has yet to determine the true width of mineralization for each hole.
$CDKNF - $CYD.V - Cayden Resources: A Strategic Property That Offers Significant Acquisition Potential
http://seekingalpha.com/article/1568642-cayden-resources-a-strategic-property-that-offers-significant-acquisition-potential?source=email_rt_article_readmore
Disclosure: I am long CDKNF.PK, GG. (More...)
(Editor's Note: This article discusses a micro-cap stock. Please be aware of the risks associated with these stocks.)
Executive Summary
The bloodbath in the gold markets has wiped out hundreds of billions from the market capitalization of gold miners and exploration companies. While the large miners have been hit hard, it is the juniors and exploration companies that have really suffered the most and many are trading at pennies on the dollar compared to their former valuations. It is these types of environments that offer savvy investors the best opportunities because panic selling and forced fund liquidation has affected both the good and the bad companies.
But investors have to be careful when looking for those opportunities because many exploration companies will not be able to survive, so there has to be more of a case to buy them than just a nice sized gold deposit.
Additionally, the share prices of majors have improved over the last few weeks with the rising gold price, but explorers, who have been beaten down much more than the majors, have not recovered to the same degree as their larger counterparts. This provides an opportunity for larger miners to acquire exploration companies for a discount while taking advantage of the recent rise in share prices.
Cayden Resources (CDKNF.PK) offers investors an interesting opportunity to buy in on a very early-stage explorer with experienced management and strategic properties. Its Morelos Sur gold project is located adjacent to the second largest gold producing mine in Mexico, Goldcorp's (GG) Los Filos mine in the Guerrero state of Mexico. Goldcorp has already bought a portion of their Morelos property in the last year, so if Cayden can show quality drill results for the rest of their Morelos Sur property, it would be a terrific candidate for a GG buyout - but at a price much higher than its current valuation.
Overview of the Company
In this article we will examine Cayden Resources, a very early-stage mineral exploration company focusing on the discovery and development of two gold projects in Mexico; the Morelos Sur and El-Barqueno projects in south and central Mexico. For this particular article we will focus on the Morelos Sur property.
We will lay both the bullish and bearish cases for investing in the company, to offer investors a fair evaluation of the company, its prospects, and potential challenges.
(click to enlarge)
Morelos Sur Project
We believe this is the most interesting of the company's projects, and at this point, it offers the largest portion of value present in CDKNF.
(click to enlarge)
As investors can see from the map above, Morelos Sur is very strategically located between Goldcorp's Los Filos mine and the Torex Gold property (TORXF.PK). In fact in February of 2013, CDKNF sold the former Morelos East property (shown in yellow) to Goldcorp for $15.7 million plus a sliding scale royalty - which is quite significant for a company carrying a $40 million market capitalization. Additionally, the Las Calles section of CDKNF's property has not been sold yet and has shown some good drilling results, so it has the potential to be sold to generate additional non-dilutive capital for the company.
But the real value here lies in the La Magnetita portion of the property. As Brian Lundin, of Jefferson Financial, has noted:
"Then you have the La Magnetita target. The key to that is that every mine and discovery in the Guerrero Gold Belt has been identified through geophysical means. Importantly, La Magnetita is the largest geophysical anomaly in the belt. To date Cayden has gotten some outstanding sampling and trenching results, and is now drilling, so I'm very excited about that potential."
As investors can see in the map below, the significant deposits in the Guerrero gold belt owned by other miners have shown magnetic anomalies. This makes the La Magnetita district very promising, though it does not guarantee that there will be economically viable gold.
Bullish Factor #1: La Magnetita's Strategic Location and Buyout Potential
As we have shown above, La Magnetita offers the company a very interesting opportunity to show significant mineralization that would add quite a bit of value to the company. Additionally, the location of the project is in an outstanding area that borders the largest miner in Mexico (Goldcorp) which operates a mine a few kilometers to the east. To the north, is Torex Gold's Media Luna and El Limon deposits, which adds to the strategic position.
Both Goldcorp and Torex Gold have the cash to buyout Cayden Resources if La Magnetita drill results are positive, and if they come back with very good results then there may be quite a rush to acquire the company or property.
Bullish Factor #2: Management has Significant Ownership
With explorers, investors should always look at management's experience and how much of the company they own. If management does not own much of an explorer, this should be a very significant red flag since they know the most about the prospects of the property.
(click to enlarge)
As investors can see, top management owns nearly 20% of the company, with the most significant ownership by the Chairman and the CEO. That is a significant portion of the company and shows that management is eating their cooking. Additionally, over the last six months, management has continued to buy shares of the company - which is very bullish.
Bullish Factor #3: Top Management has Quality Experience
Top Management of Shawn Wallace, Daniel McCoy, and Ivan Bebek all come from Keegan Resources (now known as Asanko Gold (AKG)), where they held positions ranging from founder to CEO of Keegan. Additionally, Mr. McCoy led the exploration team that discovered and delineated the Esaase Gold deposit in Ghana, West Africa.
The fact that many previous managers come from the same company is a positive. Much like with sports teams, continuity and working together lead to synergies and strong relationships that can add value greater than the individual parts. Additionally, AKG is in the process of developing the Esaase gold deposit, so that means that their previous company has been successful.
The major negative to management's previous experience at AKG, is that their major project was based in Africa, and thus the Mexican government and political climate may be much different. We would not put too much weight into this because good managers rely on people with experience in their particular environment, but it is something to keep in mind.
Bullish Factor #4: The Company has Ample Liquidity
As of May 7th, Cayden Resources has around $7 million in cash and cash equivalents and is expected to receive another $7.8 million from Goldcorp as the final payment on their Morelos East sale. Over the last fifteen months (they recently changed their accounting year) the company spent close to $7 million, so $15 million in near-term receivables should be sufficient for all near-term financial needs. Additionally, if the company can sell its Las Calles region, it can raise additional funds in a non-dilutive manner.
This is not an explorer that will have to sell assets off because they are desperate for capital
Bullish Factor #5: The Company is at An Attractive Buyout Valuation
We believe that there will be many more small explorers that will be bought out over the next twelve months, especially if gold can continue its rise. The reason is that shares have been battered and majors who have been cutting capital expenditures will still need to increase resources, so explorers offer a very attractive way to increase potential resources at a discount.
Cayden Resources has a current share price of $1.02 per share and a current market capitalization of $42 million dollars (as of 7/24/13). After subtracting its current cash and near-term receivables of $15 million dollars, the company is only valued at $27 million dollars.
Keep in mind that it was only last February that Goldcorp paid $15 million dollars for a portion of Cayden's property. With a $40 million dollar bid, which would offer Cayden shareholders a 50% premium after deducting CDKNF's cash position, Goldcorp could acquire the rest of the Morelos Sur property, the El-Barqueno property, and the future royalties owed to Cayden.
If Cayden can show further gold potential on the La Magnetita portion of the Morelos Sur property, then the valuation will go up significantly. This may be a situation where Goldcorp management may want to weigh the risk and rewards of a buyout as opposed to waiting for drill results - which would significantly increase the price GG would have to pay.
Though there is no certainty of any future bids for Cayden, we believe that there are plenty of positive factors that would preclude a buyout.
The Bearish Arguments
With any company there are always bearish arguments, without that there would be no reason for the undervaluation. We do not like to present a bullish case without at least highlighting the bearish arguments to the case - after all if an investor does not know what the negative cases are concerning the investment, then he really doesn't know what he is investing in.
The following are the primary bearish arguments against CDKNF
1) There are No Economically Demonstrated Reserves - Cayden Resources is an early-stage explorer and there is no guarantee that either property will prove to be economically viable. A bad drilling report could significantly impact the valuation of the company and turn this company with high potential into no more than "Moose Pasture" (or "Coyote Pasture" in this case).
2) Funding Will Be an Issue - Even though Cayden Resources has enough liquidity for the immediate future, they will need to raise much more money to continue drilling and there is a high likelihood that it will be dilutive for current shareholders. The company must be able to demonstrate promise in its current properties to raise additional capital and so there is a constant need to continue to issue positive news to increase the share price and make issuing shares feasible.
3) Share Price has Been Very Robust - This is a positive in the sense that investors have not been selling shares of the Cayden Resources, it is also a negative because it means that new investors are not getting shares at 52-week lows. In fact, the stock has actually increased more than 25% from its May lows, so a pullback would not be surprising.
Conclusion for Investors
We believe Cayden Resources offers investors a terrific opportunity to buy a company that has a very strategic property, experienced management with a good level of insider ownership, in a region that has significant mining properties. Additionally, this company has a high potential to be a buyout candidate at its current valuation, and there is a significant potential acquirer on an adjacent property (that also happens to be the second largest gold mine in Mexico).
Since this is a small capitalization company, investors should be very careful and not allocate too large a position because there is significant risk in these types of companies. But we believe Cayden Resources offers investors a very good risk-to-reward opportunity, and if drill results on La Magnetita turn out good, then this would offer investors significant upside and we believe it could easily trade at a $75 to $100 million market capitalization if results are positive - which would be 100% higher than the current share price.
$CDKNF - $CYD.V - Video Interview with Ivan Bebek from Cayden Resources
$CDKNF - $CYD.V - Cayden Samples 35 m of 3.0 g/t Gold at El Barqueño and Discovers Two New Zones of Mineralization
http://www.caydenresources.com/index.php/news157/2013/155-cayden-samples-35-m-of-3-0-g-t-gold-at-el-barqueno-and-discovers-two-new-zones-of-mineralization
Vancouver, British Columbia – July 18th, 2013 – Cayden Resources Inc. (TSX.V:CYD) (“Cayden” or the “Company”) is pleased to announce that it has received additional high-grade trench results and discovered two large separate gold in soil anomalies on its El Barqueño property located in Jalisco State, Mexico.
The trenches were taken from the Azteca target area where Cayden sampled 35 meters of 3.0 g/t Au (including 5 meters of 12.7 g/t Au) and 9 meters of 2.0 g/t Au taken from trenches that are perpendicular to the Azteca mineralized trend (the 35 meters of 3.0g/t Au trench is perpendicular to the trench of 91 meters of 2.9g/t Au announced May 10th, 2013). The results continue to show that gold occurs in the veins and wall rock, indicating the strong potential for bulk mineable epithermal deposits (See Figure 1 below or visit our website to see the map).
Table 1 - Trench results from the Azteca Area at El Barqueño:
The Company has also discovered two new target areas of gold mineralization resulting from its ongoing soil program referred to as the Poncho and San Diego targets. The Poncho target, which has only been partially mapped has a soil anomaly 5 km in an EW direction, by approximately 1.5 km in a NS direction and has resulted in gold-in-soil assays of up to 3.5 g/t. The San Diego target area is 3km by 200m wide. The new target areas are parallel to the Azteca, Pena De Oro trend and are open for further expansion, numerous soil samples are still pending.
The Company is continuing it’s ongoing surface programs on other areas of the El Barqueño concession and is beginning a reconnaissance-mapping program at its newly acquired, highly prospective Barqueño II concession, located directly adjacent to the north.
“We have been very active on our El Barqueño Concession and believe we are fortunate that we were able to acquire the prospective land around it. The surface results to date at El Barqueño have been exceptional in terms of grade, width and consistency of gold mineralization.” Stated Ivan Bebek, President and CEO, “The results are very encouraging in terms of size potential that is indicated by the surface expression of the gold mineralization and possibility of multiple significant gold deposits.”
Cayden has issued 650,000 stock options to various directors, employees and consultants with the majority going to Cayden’s technical team. The team includes the addition of Dave Smithson who is a specialist in the structural mapping and interpretation of gold bearing faults, hydrothermal alteration regimes, and gold permissive stratigraphy. Dave is formerly with Newmont Mining. The exercise price of the options is $0.90 being the 5-day volume weighted average share price prior to the grant date.
$CDKNF - $CYD.V - Cayden acquires 36,700 hectares around El Barqueño
http://www.caydenresources.com/index.php/news157/2013/154-cayden-acquires-36-700-hectares-around-el-barqueno
Vancouver, British Columbia – July 2nd, 2013 – Cayden Resources Inc. (TSX.V:CYD) (“Cayden” or the “Company”) is pleased to announce that it has acquired the 100% interest or the option to earn a 100% interest in two concessions totaling 36,700 hectares around the company’s El Barqueño concession.
“The two acquisitions increase Cayden’s land position from 9,800 hectares to over 46,000 hectares in the Barqueño Gold District. We believe that this District is highly underexplored and our three concessions have multiple targets that have the potential for significant open-pit gold deposits,” stated Ivan Bebek, President and CEO.
The terms of the acquisitions for the new concessions are:
Concession 1 – hereafter referred to as Barqueño II
Cayden has signed a Letter Agreement to earn a 100% interest in the Barqueño II concession covering approximately 9,500 hectares located adjacent to the Cayden’s original El Barqueño concession. (see map at www.caydenresources.com).
Under the Letter Agreement, Cayden paid the owner $25,000 and committed to 3 years of concession tax payments totaling $87,500 as listed in Schedule A. Cayden has the option to complete the 100% earn-in by incurring expenditures totaling $1,400,000 on the concession as listed in Schedule B and making a final payment by June, 2017 of $5,000,000. The final payment can be made in either cash or common shares which would be valued at the 10-day weighted average market price prior to payment date. The property will be subject to a 2.5% NSR payable to the underlying owners of the concession.
Schedule A – Concession Tax Payments (committed)
Year 1 - $12,500
Year 2 - $25,000
Year 3 - $50,000
Schedule B – Work Expenditures (optional)
Year 1 - $200,000
Year 2 - $400,000
Year 3 - $800,000 or 5,000 meters of drilling
The Letter Agreement is subject to approval from the TSX Venture Exchange.
The Barqueño II concession contains several historical small-scale workings that appear to have been used for exploring and/ or producing gold from numerous EW and ENE veins.
Concession 2 – hereafter referred to as Barqueño III
Cayden has staked a total of 27,200 hectares around the west and northwest boundaries of the original El Barqueño concessions. The approximate staking costs were $12,000 and the annual concession tax payments for year 1 and 2 are $23,000 each year.
The Barqueño III concession has had some limited historical exploration that identified the presence of multiple EW and ENE epithermal veins.
On Behalf of the Board,
Ivan Bebek, President and CEO??
About Cayden Resources ?- Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects in Mexico. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol “CYD”.?For more information on Cayden Resources, please visit our website at www.caydenresources.com.??
$CDKNF - $CYD.V - Video Update
$CDKNF - $CYD.V - Cayden Samples 21 m of 8.3 g/t Gold at El Barqueño
http://www.caydenresources.com/index.php/news157/2013/152-cayden-samples-21-m-of-8-3-g-t-gold-at-el-barqueno
Vancouver, British Columbia – June 3, 2013 – Cayden Resources Inc. (TSX.V:CYD) (“Cayden” or the “Company”) is pleased to announce that it has received additional results from ongoing trenching programs at its El Barqueño property located in Jalisco State, Mexico. Highlights include: 21 meters of 8.3 g/t Au, including 4 meters of 20.3 g/t Au; 54 meters of 1.1 g/t Au; and 13 meters of 2.4 g/t Au.
The trenches were taken from the Azteca target area where two parallel fault zones contained abundant vein and stockwork-controlled mineralization. The Azteca target area is one of the many areas on the property where wide zones of hydrothermal alteration and networked quartz veins occur at surface. The strike length of mineralization revealed by the assayed trenches is 1.4 kilometers and the system is open in both directions. Assay results continue to reveal that gold occurs in the veins and wall rock, indicating the strong potential for a bulk mineable epithermal deposit. (See Figure 1 below or visit our website to see the map)
Table 1. Trench results from the Azteca Area at El Barqueño.
Intercept
Width (m)
Grade (g/t)
Open
Intercept
Width (m)
Grade (g/t)
Open
AZ2-1
5
2.5
AZ2-10
11
1.3
AZ2-2
24
1.5
AZ2-11
13
2.3
Yes
incl.
1
11.2
incl.
1
16.9
AZ2-4
21
8.3
Yes
AZ2-12
13
2.4
Yes
incl.
4
20.3
Z-4a
54
1.1
Yes
and
1
16.5
Z-4b
12
1.6
and
1
22.2
incl.
1
11.2
Geological mapping and sampling programs are underway in several other target areas on the property where the same type of hydrothermal alteration and networked quartz veins occur at surface. Cayden plans to commence an initial 25-hole diamond drill program this summer at the Azteca target area.
Ivan Bebek, President and CEO commented, “These trench results are very impressive as they continue to indicate strength and continuity of the gold system in one of several target areas that we are exploring. We feel that the El Barqueño property represents a significant opportunity for the discovery of a district scale, bulk mineable gold system.”
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Barqueño. All trench intercepts were obtained from continuous channel sampling at one-meter intervals, primarily through excavated trenches. As the mapped mineralized corridors strike EW to ENE, trenches were designed to intersect the mineralization as close to perpendicular as possible. It is believed that the trench intercepts represent 70-100 percent of the true width. Intercepts were calculated assuming a bulk-mining scenario, with a width cutoff of five meters and grade cutoff of 0.5 g/t Au. The wider intercepts have, at maximum, five consecutive meters less than 0.2 g/t at which time two intercepts were composited. Any samples greater than 10 g/t Au are noted in the intercept table.
All samples are assayed using standard 30 gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Ca. QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed.
On Behalf of the Board, Ivan Bebek, President and CEO
About Cayden Resources ?-? Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects in Mexico. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol “CYD”.??For more information on Cayden Resources, please visit our website at www.caydenresources.com.
Something up here?
Trading Halt - Foreign Regulatory Halt
Trading is halted because the OTC Equity Security or the security underlying an American Depository Receipt ("ADR") that is an OTC Equity Security ("OTC ADR") is listed on or registered with a foreign securities exchange or market, and the foreign securities exchange, market, or regulatory authority overseeing such issuer, exchange, or market, has halted trading in such security for regulatory reasons because of public interest concerns or for news pending.
$CDKNF - $CYD.V - Cayden Resources Provides A Corporate Update
http://www.caydenresources.com/index.php/news157/2013/149-cayden-resources-provides-a-corporate-update
Vancouver, British Columbia – May 7th, 2013 – Cayden Resources Inc. (TSX.V: CYD) (“Cayden” or the “Company”) is pleased to provide a corporate update to its shareholders.
Cash position and sustainability
The Company currently has a strong cash position with over two years of operating capital. The current treasury including near-term receivables is approximately $15 million and Cayden is budgeting to have in excess of $9 million in the treasury in December, after the 2013 drill programs and property payments are completed.
Cayden has the unique opportunity to obtain additional non-dilutive funding with the potential future sale of its Las Calles concession. The concession represents a strip of land, located in between the operating Los Filos and El Bermejal pits that make up Goldcorp’s (TSX-G) Los Filos mine. Cayden’s initial drilling in this area identified what Cayden believes to be the mineralized extension of the Los Filos deposit (see Cayden news releases dated March 5th and July 10th, 2013).
La Magnetita
At Morelos Sur, Cayden is completing the last hole of the initial drill program on its La Magnetita target. The exploration program focused on the southern portion of the eastern intrusive stock, which identified several types of mineralization associated with a skarn deposit analogous to the other deposits in the belt.
Due to the vast size of the La Magnetita target area, we still have significant exploration to complete. We are reviewing the data from the program and are going to plan additional programs to test several other targets around the intrusive stocks in the future.
El Barqueño
At El Barqueño, an extensive program of soil, trench sampling, detailed mapping and data compilation has been underway since the start of 2013 with several results pending.
Preliminary detailed mapping results show the strong potential for multiple mineralized areas over an 8km trend extending from the Azteca zone all the way through to the Pena De Oro zone (please visit our website www.caydenresources.com for a map).
A first phase core drill program, consisting of approximately 5,000 meters, will test the Azteca zone as well as a newly identified east-west oriented structure and alteration zones to the south of this trend. This program is expected to commence in June of 2013.
In the next 6 months shareholders will see the following:
• continuous trench and surface results from El Barqueño
• commencement of the initial phase of drilling at El Barqueño
• drilling results from the remaining holes at La Magnetita
President and CEO Ivan Bebek commented, “With respect to the challenging market conditions for the exploration sector, we feel that Cayden is well positioned to capitalize on the success of its projects in a non-dilutive manner.”
On Behalf of the Board, ?
Ivan Bebek,
President and CEO?
About Cayden Resources ?-? Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects located in Mexico. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol “CYD”.? ?For more information on Cayden Resources, please visit our website at www.caydenresources.com.
Forward Looking and other Cautionary Information? ?
Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. ?This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
All time lows - may trend lower still
$CDKNF - $CYD.V - Cayden Resources Receives $7.88 Million and Provides Corporate Update
http://www.caydenresources.com/index.php/news157/2013/148-cayden-resources-receives-7-88-million-and-provides-corporate-update
Vancouver, British Columbia – March 1st, 2013 – Cayden Resources Inc. (TSX.V: CYD) (“Cayden” or the “Company”) is pleased to announce that it has received the first payment of $7.88 million USD from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”) as a result of the previously announced sale of 2,492 hectares of non core landholdings of the Morelos Sur East concession.
The second and final payment of $7.88 million USD for the Morelos Sur East Concession will be paid upon the completion of the subdivision process which is anticipated for later in 2013.
Cayden’s remaining 14,584 hectares of the concession includes the Las Calles target area which Cayden plans to divest, and the La Magnetita target where Cayden is currently in the middle of a 5000 meter drill program.
Cayden recently incorporated a 3-D magnetic inversion model enabling targeting of a magnetic stock under much of the high-grade La Magnetita gold-in-soil and gold-in-rock anomalies. This is significant as the majority of mineralization in the district occurs within one kilometer of similarly buried stocks . Cayden is targeting projections of known gold-bearing structures at their intersection points with the stocks.
Dan McCoy, Chief Geologist commented, “We are seeing the same geologic ingredients at La Magnetita that have combined elsewhere to create the large resources present in the Guerrero Gold Belt.”
During the past six months, significant reconnaissance exploration has been completed at Cayden’s El Barqueno property with the completion of an airborne VTEM survey and geological mapping programs. The results of the programs suggest prospectivity over a much greater area and at greater depths than previously revealed by historic mining and drilling data. In particular, mapping revealed the presence of a prospective host rock unit, “the Barqueno pyroclastic sequence”, which is up to 350 meters thick. Historic mining and drilling only penetrated the top 50-100 meters of the pyroclastic sequence in small areas of the large target area, suggesting that additional resources may also extend at depth. Significant hydrothermal alteration in this unit was mapped in several previously undrilled zones. The mapping and geophysics also indicate that other outcropping zones are likely part of the same mineralized structure suggesting potential for mineralization over 8 kilometers of strike length.
Dan McCoy, Chief Geologist commented, “The results from the geological mapping and geophysical data is impressive, indicating the potential for a discovery of a major gold deposit or deposits.”
Cayden has already begun extensive surface exploration programs at El Barqueño with drilling planned to commence early in the second quarter.
Ivan Bebek, Cayden Resources CEO commented: “Cayden is very pleased to receive a non-dilutive injection of capital into its treasury during difficult times in the capital markets through the divestiture of a non-core asset. This places the Company in an excellent position to create value for shareholders through the continued exploration at both of its projects. We continue to be very encouraged by the results we are seeing at La Magnetita and look forward to the commencement of drilling at El Barqueño. We plan to be efficient and judicious in how our treasury is spent and we will also have an opportunity to receive additional non-dilutive cash from the possible sale of our Las Calles concession.
$CDKNF - $CYD.V - Cayden Resources Sells a Fraction of its Morelos Sur Gold Concession for $15.7 million
http://finance.yahoo.com/news/cayden-resources-sells-fraction-morelos-110000965.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb 1, 2013) - Cayden Resources Inc. (TSX VENTURE:CYD) ("Cayden" or the "Company") is pleased to announce the sale by Cayden''s Mexican subsidiary LC Mines, S.A. de C.V. ("LCM") of two blocks of the eastern portion (15%) of its Morelos Sur Concession "Morelos East Concession" to Desarrollos Mineros San Luis, S.A. de C.V. ("DMSL"), Goldcorp''s subsidiary which owns and operates the adjacent Los Filos mine in Guerrero State, Mexico.
The sale represents a total of 2,492 hectares of Cayden''s 17,076 hectare concession for a total cash consideration of $15,744,000 USD plus a royalty to Cayden, of which 50% of the cash will be paid on or before February 28, 2013 and the balance to be paid once the subdivided titles of the Morelos East Concession are registered in the name of DMSL.
DMSL will acquire the portion subject to a reserved royalty in favour of LCM plus the existing government royalty (2.5%). The reserved royalty to LCM is a sliding scale royalty commencing after the first 250,000 ounces, starting at 0.75% and up to 1.75% when gold is over $2500/ounce.
Please see Figure A - http://media3.marketwire.com/docs/cyd201-F1.pdf or visit our website at www.caydenresources.com for a map defining the sale.
Ivan Bebek, Cayden Resources CEO commented on the transaction: "We are very pleased to have reached mutually acceptable terms with Goldcorp in this partial concession sale and look forward to maintaining an excellent relationship with them moving forward. The funds received from this transaction will be used to continue to advance exploration programs at both of our Mexican gold properties. The remainder of the Morelos Sur concession hosts the La Magnetita and Las Calles areas that continue to be the project''s high value exploration targets."
On Behalf of the Board,
Ivan Bebek, President and CEO
About Cayden Resources - Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects located in North America. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol "CYD". For more information on Cayden Resources, please visit our website at www.caydenresources.com.
$CDKNF - $CYD.V - Cayden Acquires Option to Buy-Out Morelos Sur Gold Concession Royalties[url][/url][tag]insert-text-here[/tag]
http://finance.yahoo.com/news/cayden-acquires-option-buy-morelos-110000424.html
... "Ivan Bebek, Cayden''s President and CEO stated: "We are pleased to have renegotiated fixed terms and buy-out options on the royalties associated with our Morelos Sur property. The application to divide the Morelos Sur Concessions into three new parcels provides additional flexibility for Cayden going forward to be able to deal separately with these areas."" ...
$CDKNF - CYD.V - change of trend to upside on weekly CYD.V chart
$CDKNF - CYD.V - crossing above 200 MA on daily chart
$CDKNF - Geologist Merrill McHenry Keeps His Eye on the Guerrero Gold Belt
http://www.businessinsider.com/geologist-merrill-mchenry-keeps-his-eye-on-the-guerrero-gold-belt-2012-10
... "TGR: What are some of the early stage discoveries that our readers might be unaware of?
MMcH: I am extremely excited about Cayden Resources Inc.'s (CYD:TSX.V) projects. It is currently drilling on Magnetita East. The company is fully funded and has more than $5 million (M) in the till. Preliminary trench results on Magnetita have been significant, such as 5m of 11.65 g/t.
Magnetita East has northwest to southeast faulting structures, where intrusions come up and the destroyed magnetite rock looks exactly the same as the rocks at Torex's project or at Los Filos. Magnetita East has the rocks and the ground sampling. It also has a rapid transition from magnetic to non-magnetic zones in what is called RTP airborne magnetics, which can indicate destroyed magnetization during the retrograde phase. That is when the rock basically sucks in the gold when it drops out the iron. You can have gold mineralization without that; but in the Guerrero, the highest gold grades have a measure of replacement of iron during the retrograde (cooling) phase.
TGR: Speaking of Los Filos, some of the waste rock Goldcorp has been dumping from Los Filos has made its way onto Cayden's property. How will that be resolved?
MMcH: In addition to already having dumped waste ore there, Goldcorp wants to expand its leach pads. Most likely, Goldcorp will have to buy the easternmost portion of Cayden's property, given that Cayden can definitely say Goldcorp is violating the integrity of Cayden's Morelos Sur portion of the concession." ...
$CDKNF - Cayden Commences Drilling at the La Magnetita East Target
http://www.caydenresources.com/index.php/news157/20121/142-cayden-commences-drilling-at-the-la-magnetita-east-target
Vancouver, British Columbia – September 25, 2012 – Cayden Resources Inc. (TSX.V: CYD) (“Cayden” or the “Company”) is pleased to announce that it has commenced drilling on its La Magnetita East target at the Morelos Sur Gold property, Guerrero State, Mexico. The drilling will initially consist of 4,000 to 5,000 meters of core drilling in order to test the highly mineralized four square kilometer heart of the +500 ppb gold in soil anomaly.
The Company has also received additional rock and mapping results from the La Magnetita East area which include over twenty new bedrock samples that returned assays as high as 9.4 g/t Au and 982 g/t Ag in areas with strong quartz and jasperoid veining.
At Cayden’s El Barqueno project, the VTEM airborne geophysical survey program is underway in addition to extensive surface programs.
Chief Geologist Dan McCoy states: “We are very impressed with the coincident results of the geologic mapping, rock samples and the highly prospective nature of the strongly anomalous multi-element soil anomaly at our La Magnetita East target. The strength of the soil and rock values as well as the presence of the right kinds of lithology and alteration are very encouraging as we believe that this is one of the best undrilled targets we have seen on our property to date. We are very excited for commencement of the core drilling program.”
$CDKNF Overview
http://www.caydenresources.com/
Cayden Resources is a Canadian exploration company focused on precious metal opportunities. The company has three projects located in Guerrero and Jalisco, Mexico and Nevada, USA. Cayden's primary project is the Morelos Sur property. The company is currently undertaking extensive exploration and drilling programs on all of the projects.
The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral assets.
Cayden's corporate and technical team is constantly reviewing large scale precious metal projects at various stages for potential acquisition.
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