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Message: Agnico buying Cayden for $200 million
Took a hard look at cayden about 6weeks ago. Spoke to their IR folks. According to their most recent presentations their is 3 open zone 1about 200 m x 100 m and 1 about 500 m x 100 m and 1 about 100 m x 75 m. Those are all length by width but some of the drilling is still open. Decent grades shallow enough...have some more land area to drill too. Overall, I am surprised at the buyout value. I don't see a 43 101. But it's Mexico ...lower cost of labour and mining overall Decent Ag grades in some holes. Large non confusing land position. So AEM are the experts and probably know their is a significant enough life and grade to run a mine there, Hard to compare across the deposits....but prb Borden seems less sporadic....more consistent grades and better tighter structure for underground mining. If drilling east and south yeilds another 2 million ounces...that will work for me. Looking forward to some east limb results and a final result in the land position. Majors are going to start buying with gold this low. Stock up while you can ...... As for me...I don't think probe will get low balled....due to their cash position I would like to see double if not triple the overall amount for Borden versus cayden resources That puts prb about 7 to 9 bucks... With chromite and land position clarified...we will see this after a stellar drilling season. Hit on east limb. Keep drilling and filling. We could push a lot higher. Got time...... Till next week captain time
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