SANTA COMES EARLY- finally payment from Goldcorp in the bank
Cayden receives $7.87-million (U.S.) from Morelos sale
Plans to develop another portion of CYD holdings for another sale to Goldcorp also noted
"Mr. Ivan Bebek reports
CAYDEN RECEIVES REMAINING $7.87 MILLION FOR THE COMPLETION OF THE PARTIAL MORELOS SUR LAND SALE
Cayden Resources Inc. has received the final payment of $7,872,000 (U.S.) from its Feb. 1, 2013, land sale which is now complete. In that sale, Cayden's Mexican subsidiary sold approximately 23 per cent (3,997 hectares from the original 17,076 hectares) of its Morelos Sur concession to a subsidiary of Goldcorp Inc. for a total of $15,744,000. The exact boundaries of the sold portion were varied somewhat as part of the final completion documents.
The company plans to work on monetizing its nearby Las Calles concession next as Cayden management believes this portion of land has significant value due to its proximity to Goldcorp's Los Filos mine and because of encouraging drill results obtained by Cayden on the concession in 2012.
Ivan Bebek, president and chief executive officer, stated: "The proceeds from this sale gives Cayden a strong cash position for exploration at our El Barqueno project in 2014. We believe the value of our Las Calles concession will be much higher than the portion of Morelos Sur that was just sold."
AI
