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Cayden Resources Inc.


Cayden Resources Inc. is a Canadian exploration company focused on precious metal opportunities. The company has two projects located in Mexico, Morelos Sur in Guerrero and El Barqueño in Jalisco. It is currently undertaking extensive exploration and drilling programs on both 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. The company's corporate and technical teams are constantly reviewing large-scale precious metal projects at various stages for potential acquisition.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

Brien Lundin, Gold Newsletter (Jefferson Financial) (7/11/14) "I had the opportunity to meet with Cayden Resources Inc.'s management last month, and I'm more convinced than ever that the company's El Barqueño project in Jalisco state, Mexico, will be a multimillion-ounce deposit. . .Cayden is also a Strong Buy."

Mick Carew, Haywood Securities (6/26/14) "Cayden Resources Inc. released more drill results from its Peña de Oro target, which represent the most significant intercepts on a gram-to-meter gold basis at the target so far. . .gold mineralization is interpreted to occur along sub-vertical dipping structures, which remain open at depth and in both directions. . .these drill results continue to demonstrate the high-grade gold potential of both Peña de Oro and the other parallel-trending structures within the El Barqueño project area."

Frik Els, (6/26/14) "Shares in Cayden Resources Inc. dipped on Thursday despite the release of the most significant drill results yet from its Peña de Oro target at its El Barqueño property in Mexico. . .the lackluster reaction to the results can probably be ascribed to the fact that the counter is already up a whopping 83% year to date after a string of good results from other zones at El Barqueño. . .the company reported highlights from the Peña de Oro target including 45m of 4.06 g/t Au with 0.39% Cu in hole 76, 19mof 4.98 g/t Au with 0.26% Cu in hole 80, 20m of 2.58 g/t Au with 0.36% Cu in hole 73 and 30m of 1.70 g/t Au with 0.88% Cu in hole 78."

Haywood Securities (6/25/14) "Cayden Resources Inc. will complete +30,000m of drilling on eight targets over the next 18 months, including +15,000m of drilling in 2014. . .the company is also continuing with surface mapping, soils and trenching programs on the property, as well as drill permitting for the Barqueno II concessions. Results continue to be encouraging, with many holes delivering ore grades (1–2 g/t) over good widths."

Tickerscores (6/15/14) "This week, we feature Cayden Resources Inc. as stock of the week. . .the bottom line is in an extremely weak market for exploration companies, Cayden is best of breed. It fits everything investors should be looking for in an exploration company: A healthy treasury ($10M), excellent share structure (47M shares outstanding), a proven experienced management team and drill assays that show potential for an economic and sizeable deposit."

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Mick Carew, Haywood Securities (6/12/14) "Cayden Resources Inc. released additional drill results from its Peña de Oro target, which comprises part of its El Barqueño property in Jalisco, Mexico. . .the results have increased the strike length at the target to over 500m and extended the vertical depth to ~110m. Importantly, the degree of brecciation and width of gold-copper mineralization appears to be increasing to the west, and only one of three mineralized structures has so far been tested, suggesting significant expansion potential in all directions."

The Gold Report Interview with Joe Foster (6/11/14) "We added Cayden Resources Inc. to the portfolio this year. Cayden is doing some drilling, which we hope will prove meaningful. . .Cayden has a robust property that will enable it to create value as it develops." More >

Michael Curran, Beacon Securities Ltd. (6/9/14) "Cayden Resources Inc. reported additional early stage exploration results from the El Barqueño property. . .exploration results continue to expand near-surface areas of potentially economic gold mineralization. The current drill program is expected to continue, testing the Angostura and Zapote target areas next. New target areas, Poncho East and Azteca North, look sufficiently interesting to warrant further follow up (including drilling)."

The Gold Report Interview with Joe Mazumdar (6/9/14) "Cayden Resources Inc. has a big land package in central Mexico. Its project is called El Barqueño, with 46,400 ha of ground. It's a low-sulphidation gold project that it just started a significant gold program on. We should be getting drill results over the summer. It's relatively shallow and very amenable to open pit. On May 14, Cayden announced some intersections of 26m and 2.35 g/t." More >

B. Whitehead, A. Simmons, J. Hayek, Digging Through the Dirt (6/3/14) "Cayden Resources Inc. continues to be a company that has significant upside. In addition to providing the potential for a discovery of new gold bearing systems in the El Barqueño area, it holds land in the Los Filos area that Goldcorp Inc. will have to buy at some point to continue mining the deposit. As more zones and additional infill holes are drilled to get a better handle on the continuity of the systems, further light will be shed on the mineability of the gold bearing system at El Barqueño."

Brien Lundin, Gold Newsletter (Jefferson Financial) (5/30/14) "Cayden Resources Inc.'s El Barqueño is showing signs of being a multiple-deposit and potentially open-pittable gold resource. Drilling and trenching has already shown the project's Azteca target to be a promising, near-surface gold find, and highlights from the Pena de Oro target have extended it to 400m of strike and 110m at depth. . .surface exploration continues apace on other areas of this target-rich gold property. Smart management and this high-potential project make Cayden Resources a company to watch. . .I like this project and I like this company; it remains a buy."

Lawrence Roulston, Resource Opportunities (5/26/14) "Cayden Resources Inc. reported further positive drill results from the Pena de Oro target at its El Barqueno gold property in Jalisco state, Mexico. The latest nine holes include 26m of 2.3 g/t gold, 30m at 1.6 g/t and 38m of 1.5 g/t. . .the company is well financed to continue and aggressive exploration program, and managed by a team that has achieved considerable success."

The Gold Report Interview with Michael Curran (5/14/14) "Our favorite exploration-stage company that's building resources is Cayden Resources Inc. (CYD:TSX.V; CDKNF:OTCQX). Initially our attention was drawn to its strategic land position in the middle of the Guerrero Gold Belt in Mexico where Torex Gold Resources, Newstrike Capital and Goldcorp's Los Filos gold mine are located. Over the last nine months or so the focus has moved from the Guerrero Gold Belt to Cayden's newer project, El Barqueño, on the west side of Jalisco state. About 250 Koz was mined there in heap-leach open pits over the last decade. We have seen some strong drill results and Cayden is building resources. El Barqueño has the potential to be the next multimillion-ounce deposit in Mexico. Cayden's shares have done well despite the general malaise in the gold space. . .Cayden also has a sliver of ground between the two open pits at Los Filos. About half a dozen holes drilled in Las Calles have encountered gold at similar grades to what's found north and south, so there's definitely gold ounces on Las Calles. I think there's strong potential for Goldcorp to acquire either just Las Calles or perhaps all of Cayden's ground in the Guerrero Gold Belt." More >

PI Financial (5/2/14) "For the most part, it appears to me that Cayden Resources Inc. is being mainly valued on its land holding adjacent to Goldcorp Inc.'s Los Filos mine, but it may be able to unlock significant value at El Barqueño if drilling continues to produce discoveries with continuity. The El Barqueño project is slowly developing from a single prospect into camp-scale potential."

Brien Lundin, Gold Newsletter (Jefferson Financial) (5/1/14) "Cayden Resources Inc. recently announced solid results from the first seven holes drilled at Pena de Oro. . .the company is well cashed and extremely well managed, and I expect it to continue to generate strong results from El Barqueño in the months to come. Cayden remains a Strong Buy."

Mick Carew, Haywood Securities (4/30/14) "Cayden Resources Inc. released preliminary metallurgical results from its Azteca target at its El Barqueño project in Mexico. . .four of the five composite samples returned greater than 90% gold recoveries from cyanidation testing, highlights of which include 96.9% gold and 70.1% silver recoveries from hematite matrix-oxide zone material and 94.5% gold and 55.9% silver recoveries from quartz matrix-chalcopyrite zone material."

Wayne Hewgill, Tempest Capital (4/28/14) "Cayden Resources Inc.'s Peña de Oro target on the El Barqueño project in Mexico's Guerrero Gold Belt has intersected significant near-surface Au mineralization. . .two intervals starting at surface include 27m grading 4.46 g/t Au and 1.7 g/t Ag, and 23m of 1.48 g/t Au with 1.5 g/t Ag. . .the company has expanded the first phase of drilling at Peña de Oro by 4,000m. . .and has the option to earn a 100% interest (subject to a 1.5% net smelter royalty to a subsidiary of Grupo Mexico and a 2.5% net smelter royalty to the Mexican Geological Survey)."

Lawrence Roulston, Resource Opportunities (4/28/14) "Cayden Resources Inc. has made another important gold discovery on its El Barqueño project in Mexico. The results of the first seven drill holes on the Peña de Oro target zone outlined a 300m long zone of gold mineralization. That zone is similar to the previously drilled Azteca and Zapoteca zones, all of which are part of a much larger epithermal vein network. . .Cayden now has more than CA$13 million, adequate to maintain the present level of activity for over a year."

Frik Els, (4/24/14) "Cayden Resources Inc. reported highlights from the Peña de Oro target with all seven drill holes intersecting significant gold mineralization, including 27m grading 4.46 g/t gold, 1.7 g/t silver and 0.09% copper and another returning 12m at 4.77 g/t gold with silver, copper results pending. . .the company is currently drilling at Peña de Oro with two rigs and thanks to today's intercepts, will add 4,000m of drilling for a total 6,000m."

Mick Carew, Haywood Securities (4/24/14) "Cayden Resources Inc. released maiden drill results for seven holes from its Peña de Oro target at its El Barqueño gold property. . .all seven holes intersected significant gold mineralization with highlights, including hole BDD0043, which intersection 27m grading 4.46 g/t gold, 1.7 g/t silver and 0.09% copper. . .the company has assembled a strong management and technical team to further define one of the more prospective gold exploration projects in Mexico."

Ross Silver, Vista Partners (4/24/14) "Cayden Resources Inc. has potential to delineate significant resources at El Barqueño over the next 12 months. Las Calles could add significant value for shareholders as a result of a future land sale. . .the company is run by a highly experienced management team that previously founded and built Keegan Resources Inc./Asanko Gold Inc."

Brien Lundin, Gold Newsletter (Jefferson Financial) (4/10/14) "Cayden Resources Inc. has always been a smart money play led by very competent and proven management. . .the El Barqueño property features some of the best trench results I've ever seen. . .the company plans to drill an impressive 35,000m this year. . .thanks to its recent financing and the CA$15.7M it received from selling a portion of its Morelos Sur project to Goldcorp Inc., the company is well funded to continue an exceedingly aggressive exploration program. . .it's a strong Buy."

The Gold Report Interview with Jay Taylor (4/9/14) "I like Cayden Resources Inc. in Mexico. It could be a takeover target. There are only 41.8M shares outstanding and it has very savvy management. CEO Ivan Bebek co-founded Asanko Gold Inc., and he has brought in strong technical people. Cayden is very well funded. On April 1, it closed a $9M financing at $1.70. The stock is trading at $1.93 now. The company has two properties. El Barqueño is a shallow target that can be developed fairly quickly. Cayden has something like nine targets there, and on the first target Cayden drilled, the Azteca, it hit commercial-grade gold on 24 of 25 holes.

Cayden's other property is Morelos Sur. That's in the Guerrero Belt, which is an up and comer. Cayden thinks this might have greater long-term upside than El Barqueño. Some of its claims there are right smack dab in the middle of Goldcorp Inc.'s Los Filos property, and Goldcorp is going to have to have them. In fact, Goldcorp's pit runs onto its territory. I think Cayden wants Goldcorp to know that it is not desperate and won't be forced to take whatever Goldcorp offers it." More >

Joe Mazumdar, Canaccord Genuity (4/8/14) "We completed a site visit to Cayden Resources Inc.'s El Barqueño gold-silver project. . .the company recently closed an equity financing, leaving it with a healthy cash position of ~CA$14M. . .we anticipate lots of news flow from drilling over the next nine to 12 months."

Kerry Smith, Haywood Securities (4/3/14) "In April 2012, Cayden Resources Inc. acquired an earn-in option to earn 100% of El Barqueño from International Metals de Mexico, less a 4% net smelter return. . .the company will complete 30,000m of drilling on eight targets over the next 18 months, including 15,000m of drilling in 2014. . .Cayden Resources began drilling at the Peña de Oro target (5,000m in 25 holes) in March 2014, and is continuing with surface mapping, soils and trenching programs on the property, as well as drill permitting for the Barqueno II and Barqueno III concessions."

Lawrence Roulston, Resource Opportunities (3/28/14) "Cayden Resources Inc. is now well funded to delineate the known deposits and to continue to test additional target zones at El Barqueno. . .the next phase of drill results should go a long way toward demonstrating the resource potential at El Barqueno, and thereby add considerable value to the project and the company."

Bob Moriarty, 321 Gold (3/25/14) "Cayden Resources Inc. is about to enter into a price acceleration phase where the price goes much higher quickly. . .with a market cap of just under $90M, either the El Barqueno project is valued at zero or the Las Calles property is valued at zero. I suspect that very soon the market will begin to get it."

The Gold Report Interview with Brien Lundin (3/24/14) "Cayden Resources Inc. was created essentially by the same team as Keegan Resources, which is now Asanko Gold Inc. in Ghana. Like Asanko, Cayden's stock has rarely been cheap, but there's always been value there. There's a lot of smart money in Cayden because it does not have to finance for another couple of years. Cayden has two premier exploration properties, one of which, the Morelos Sur property, is adjacent to Goldcorp Inc.'s Los Filos mine, and is a valuable property position. Cayden received about $16M in a transaction from Goldcorp for part of its property, which allows it to explore its other prime area, the El Barqueño gold project, for the next couple of years without issuing another share or doing another financing. That's the project that has the greatest potential to deliver big news in the near term, and I fully expect it to do so. It has some of the best surface-exploration results I've seen on any Mexican exploration project and Cayden has only done the first phase of drilling. . .Cayden has already gotten some results at depth on the Las Calles target. Cayden is confident that at some point Goldcorp will want to buy that portion of its property because the mineralogy extends onto Cayden's ground. That property seems destined to be sold to Goldcorp and could provide substantial new funding for Cayden." More >

Jordan Roy-Byrne, The Daily Gold (3/16/14) "We are confident in Cayden Resources Inc.'s long-term upside potential. We note that a sale of Las Calles will further derisk the company by giving it substantial capital, which will allow it to maintain its tight share structure for several years."

Brien Lundin, Gold Newsletter (Jefferson Financial) (3/1/14) "Cayden Resources Inc. demonstrated its El Barqueño project's district-scale potential recently with the release of trenching results from three target areas outside of the property’s more advanced Azteca zone. . .boasting a top-shelf management team and a full treasury, Cayden has all the tools it needs to uncover El Barqueño's significant potential as a gold property."

Lawrence Roulston, Resource Opportunities (2/24/14) "Cayden Resources Inc. continues to systematically delineate nine at-surface gold targets so far identified at its El Barqueño property in Jalisco, Mexico. . .last year, the company sold a small portion of its second Mexican property to Goldcorp Inc., which is mining the adjacent property. The deal brought in $15M, putting Cayden in a strong financial position to continue the drill program at El Barqueño. The exploration concept at El Barqueño is to delineate a number of gold deposits exploitable as open pits. The results to date suggest they are well on track to accomplish that objective."

Tempest Capital (2/10/14) "Trenching on Cayden Resources Inc.'s El Barqueño gold project has outlined multiple new mineralized zones. . .trenching highlights from the Angostura zone included 17m grading 3.18 g/t Au and 9 g/t Ag, as well as 13m of 3.56 g/t Au and 18 g/t Ag. . .two additional zones were located adjacent to the Azteca zone: the Zapote zone, located to the northeast of the Azteca zone and the Poncho West zone, which is located between the Azteca and Poncho East zone."

Jay Taylor, Gold, Energy & Tech Stocks (2/7/14) "Despite the strong drill results and prospects for outlining a satellite multimillion-ounce gold-silver mining operation, you can buy these shares at approximately one-fifth their peak price in 2011. Combine the high probability of establishing an open-pit heap-leaching operation with a strong management team and a share structure that leaves a share float of only about 45% of an already small number of shares outstanding, and you have the recipe for a major run in this stock sometime in 2014."

PI Financial (1/31/14) "Cayden Resources Inc. recently received its final payment from Goldcorp Inc. for the sale of its Morelos Sur concession totaling $7.872M, much of which Cayden will use to explore the El Barqueño project. . .the company announced results from the first 14 holes at the Azteca target area at El Barqueño, including highlights of 16m at 5.89 g/t gold, 10m at 5.88 g/t gold and 20m at 1.79 g/t gold. The company's goal is to outline the potential of the property by drill testing as many of the target areas on the property as possible."

Brien Lundin, Gold Newsletter (Jefferson Financial) (1/31/14) "The results of the phase 1 drill program at Cayden Resources Inc.'s El Barqueño property in Mexico are encouraging, with the first holes confirming extensive gold mineralization for 1.2km of the 2.2 km interpreted strike length of the Zapoteca structure. . .this project is very large, with many more targets to be tested, and the company has the money to continue drilling for a couple of years without any further share dilution. . .Cayden remains a Buy."

The Gold Report Interview with Lawrence Roulston (1/29/14) "Cayden Resources Inc. has optioned a Mexican property from a major that was not quite able to put all the pieces together for a district-scale play. Cayden is coming up with very good results that really support the idea that there are a number of significant gold deposits along what could become a very substantial trend." More >

Haywood Securities (1/13/14) "Cayden Resources Inc.'s El Barqueño is an epithermal gold-silver deposit with mineralization contained in high-grade veins as well as bulk low-grade disseminated mineralization. Gold-silver mineralization is near surface, with numerous instances of outcropping. . .the company is finishing up the first phase of drilling at El Barqueño with three holes remaining to be drilled at the Azteca and Zapoteca targets. . .during 2014, Cayden will also drill the Zapote and Angostura targets."

Michael Curran, Beacon Securities Ltd. (1/10/14) "Cayden Resources Inc. reported results from 8 additional holes at El Barqueño. . .better intercepts included 35m grading 1.62 g/t gold, 23m grading 1.44 g/t and 18m grading 3.38 g/t. We view these exploration results as positive as they confirm gold mineralization encountered in surface trenching extends to depth."

Mick Carew, Haywood Securities (1/10/14) "Cayden Resources Inc. announced additional assay results from its maiden drill program at the 100%-owned El Barqueño project in Jalisco, Mexico. . .all but one drill hole to date from the Azteca and Zapoteca structures have intersected gold mineralization, suggesting continuity along strike. . .the company is well funded to continue to define the extent and continuity of gold mineralization into 2014."

Jordan Roy-Byrne, The Daily Gold (12/29/13) "Cayden Resources Inc. has a tight share structure, is well funded and could generate strong gains in percentage terms over the coming months."

Brien Lundin, Gold Newsletter (Jefferson Financial) (12/19/13) "Cayden Resources Inc. has released the latest results from its ongoing drill program at El Barqueño. . .given the strength of the El Barqueño results and the company's full treasury, I expect Cayden to generate a lot of news flow in 2014. It's a Buy."

Douglas Ehrman, Seeking Alpha (12/16/13) "Cayden Resources Inc. is on the cusp of an asset sale that could be the catalyst for 30% upside or more. . .ultimately, the company looks attractive both in the near- and longer-term horizons and presents an attractive opportunity here."

Jordan Roy-Byrne, The Daily Gold (12/15/13) "Cayden Resources Inc. can rebound substantially in percentage terms. We are looking for a combination of relative strength, rebound potential and long-term potential. . .the company [is a] strong takeover target."

Mick Carew, Haywood Securities (12/3/13) "Cayden Resouces Inc.'s latest drill results from El Barqueño continue to confirm the presence of high-grade gold mineralization below the trench sampling conducted along the Azteca and Zapoteca structures, and have extended the strike length of gold mineralization identified by trenching that contain elevated copper grades."

Bob Moriarty, 321 Gold (11/30/13) "Cayden Resources Inc. is a sleeper that has actually performed quite well this year. . .the company has put together an entire gold district in Mexico. Since my visit, it has added to its already giant gold portfolio and now owns a key piece of ground in between two Goldcorp Inc. mines in the Guerrero Gold Belt. Cayden has about $10M cash."

Brien Lundin, Money Show (11/6/13) "Well managed, well funded and brimming with potential, Cayden Resources Inc. is a great play on discovery in one of the world's most productive countries for precious metals: Mexico. . .the company's share price has remained very strong in the face of market volatility, an indication of smart, strong-handed shareholders. It remains a buy."

The Gold Report Interview with Rob Fuhrman (11/4/13) "One of our top picks is Cayden Resources Inc. Cayden has about $3.6M to work with. Management common share ownership—corporate and directors—is almost 20%. The company has two projects: Morelos Sur in the Guerrero Gold Belt and El Barqueño, close to Primero Mining's mine. . .the management score is 86. It is a great team with a good record of getting things done and the team has shown its belief in the projects by purchasing physical shares, not just options. Institutional and fund ownership is 25%, which helps out the management score. Cayden also has a good G&A expense ratio, which translates into the majority of its money going into exploration for shareholder benefit, not into lining corporate pockets." More >

Brien Lundin, Gold Newsletter (Jefferson Financial) (10/24/13) "While drilling progresses at Cayden Resources Inc.'s Azteca, trenching, mapping and other surface work continue on the Barqueño I and Barqueño II concessions. . .the company has the money and the moxie to find something big here. . .I have high hopes for [El Barqueño]. Cayden's share price has remained very strong in the face of market volatility, an indication of smart, strong-handed shareholders; it remains a Buy."

The Gold Report Interview with Kerry Smith (10/23/13) "Cayden Resources Inc. has done pretty well in this market. It is drilling its El Barqueño project with excellent trench results. Everybody is waiting for the drill results from its 25-hole program. I'm hoping that we'll see continuity to depth from those structures that it was able to trench on surface. We should get assays in the next month or so." More >

Jordan Roy-Byrne, The Daily Gold (10/22/13) "Cayden Resources Inc. has a $56M market cap with an estimated $10–11M in cash. In addition, it would receive a great sum if it sells its Los Calles concession (which Goldcorp Inc. needs); then, Cayden would be well armed to continue exploring its Mexican projects."

Wayne Hewgill, Tempest Funds (10/21/13) "The first drill results from Cayden Resources Inc.'s El Barqueno gold project in the emerging Guerrero gold belt in Mexico returned promising gold results. The mineralization at El Barqueno is hosted in an array of low sulphidation epithermal veins and stockworks hosted in two sub-parallel fault zones with a strike length of 2.2km. . .highlights from the initial drilling in the Azteca structure include, 59m grading 2.2 g/t Au, 6.2 g/t Ag and 0.13% Cu, starting at a depth of 48m."

The Gold Report Interview with Tom Szabo (10/14/13) "A company like Cayden Resources Inc. [is considered peerless]. The company's strategy worked out really well in acquiring its two main projects in Mexico. I don't think it's a secret that there is interest from other companies about potentially monetizing [the Las Calles project] opportunity. The Morelos Sur project is next to Goldcorp's Los Filos project, one of the more profitable gold mines. Cayden sold a portion of that land position, which Goldcorp needs for infrastructure, heap leach, roads and other things, for about $16 million. Cayden still holds a very strategic piece of land called Las Calles, which separates the Los Filos and El Bermejal pits. Expansion plans are essentially going to join them together. . .companies have latched on to this and I'm presuming they now may want to offer Cayden an early monetization in exchange for any upside from the eventual conclusion of the negotiations with Goldcorp. From Cayden's perspective, it could be attractive if it needs money for exploration or to build a mine at El Barqueño." More >

The Gold Report Interview with Bob Moriarty (10/2/13) "When I wrote about Cayden Resources Inc. in May, the stock price was $0.72. It's around $1.65 today. The stock was cheap at $0.72 and it's cheap today. This could be a $30 stock. It's an extraordinary opportunity. Cayden has two homeruns. One is Morelos Sur, a project in the Guerrero Gold Belt, in between two gold mines owned by Goldcorp. Unless Goldcorp buys the Cayden project, it will lose 2–3 Moz of gold. It's only a question of how much Goldcorp will pay for it. I used to believe it would be $42M. Now, it looks as if it will be $100–200M, depending on the price of gold. As of today, Cayden has a total market cap of $70M and an enterprise value of $55M. Yet it could get a check from Goldcorp for $2.50 to $5 a share. The current price is simply nuts. Cayden also has a project in Jalisco that had been mined before, El Barqueño. The company just started drilling and I think the results will be extraordinary. In May, I predicted it would be a 5 Moz project. I now believe this will be a whole new district. . .when Cayden releases drill results in mid-October, I expect intercepts of 70–100m of 3+ g/t material. A lot of majors are looking at Cayden right now. This will be one of the major successes of 2013." More >

Lawrence Roulston, Resource Opportunities (9/27/13) "Cayden Resources Ltd. is well financed to continue an aggressive drilling program at El Barqueno, with $11M cash on June 30. The company has a highly experienced and successful geological team. . . looking a little further out, both Morelos Sur and El Barqueno have potential to yield large gold deposits."

Brien Lundin, Gold Newsletter (Jefferson Financial) (9/26/13) "Cayden Resources Inc. is now adding a 5,000m drill program on Azteca, the most advanced target within its district-scale property in Mexico, to a successful trenching program on its El Barqueño project. . .impressively, nearly all of the trenches in this latest round of results from both Peña de Oro and Azteca have ended in mineralization. . .Cayden's stock price has shown surprising strength of late, even in the face of continued volatility in the gold market. I think this strength bodes well for us as we move into the drilling phase at El Barqueño."

The Gold Report Interview with Michael Curran (9/25/13) "Cayden Resources Inc. is currently our favorite speculative drill play. It has two main projects in Mexico, Morelos Sur in the Guerrero Gold Belt, which many investors will be familiar with, and the El Barqueño property in Jalisco. . .we've visited Cayden's properties earlier this year. Morelos Sur is more of a long-term play. This is a blind, buried deposit several hundred meters below surface. It could take some time to discover a new skarn-hosted gold deposit, but certainly the market interest in the Guerrero Gold Belt is so strong that one good drill hole could generate a lot of interest.

"Cayden's neighbors in the area, Goldcorp, Torex Gold Resources and Newstrike Capital, have all had very good success on these kinds of targets and found multimillion-ounce deposits. Morelos Sur is the big potential discovery. El Barqueño has the lower short-term risk; as recent results have confirmed near-surface mineralization. Drilling will begin shortly and we expect the initial drill program can be successful and delineate resources. We see initial potential of 1–2 Moz at El Barqueño. A lot of the management team was with Keegan Resources, which was recently renamed Asanko Gold. Your readers will know about Asanko's 6 Moz Esaase gold deposit in Ghana." More >

Metal Augmentor (9/16/13) "Cayden Resources Inc. continues to meet our expectations and live up to our speculative thesis. At its El Barqueño property, surface sampling is revealing wide, high-grade gold along a significant strike length. Next comes drilling to confirm that the gold grades and vein widths continue to depth, which we strongly suspect to be the case."

Haywood Securities (9/11/13) "Cayden Resources Inc. identified four target areas at El Barqueño along a parallel structure (Poncho and San Diego). Trenching activities at Azteca and Peña de Oro have extended known mineralization over 2.2 and 0.8 km at each target, respectively; best results were 9m of 7.9 g/t gold and 4m of 41.6 g/t, with most trenches ending in mineralization."

The Gold Report Interview with Brien Lundin (9/9/13) "Mexico is a great mining region. I really like Cayden Resources Inc. The company has two primary projects, one in the Guerrero Gold Belt. It sold off a portion of that project—Morelos Sur—to Goldcorp Inc. and raised $15.7M in cash to fund another couple of years of exploration without any dilution. Cayden's primary exploration project now is El Barqueňo, where it has gotten tremendous trench results over a wide-scale area. It recently received its drilling permits and will start drilling soon. That project's potential, combined with the company's cash position, its great management team and its relatively tight share structure, offers a lot of upside.

". . .geophysical anomalies mark every big discovery along the Guerrero Gold Belt. A number of multimillion-ounce discoveries line up along that belt like pearls on a string. Cayden adjoins Goldcorp's Los Filos project, one of the top two gold-producing mines in Mexico. That's why Cayden was able to sell some of Morelos Sur and can still sell the Las Calles portion of its property, where it has already demonstrated that the mineralization extends onto its ground from Goldcorp's operations. Cayden also has a large geophysical target called La Magnetita, where it has only scratched the surface, so far without very positive results. Given that La Magnetita is the largest geophysical anomaly in the trend, there is still tremendous blue-sky potential there. . .right now, Cayden is focusing on El Barqueňo, which offers the near-term potential to move the company with some good drill results." More >

Travis McPherson, CEO.CA (9/4/13) "Cayden Resources Inc. announced results of its surface program at the El Barqueno project. . .at the Azteca target area, the company trenched high-grade gold including 4m at 41.6 g/t gold. . .Cayden has been a closely watched exploration story due to the strategic location of its flagship asset, the Morelos Sur project. . .watch for drilling success at El Barqueno, which could lead to a new discovery for the company. Also, watch for a potential sale of Las Calles or Morelos Sur or the entire company to Goldcorp."

PI Financial (8/31/13) "Cayden Resources Inc. continues to move forward with its El Barqueno project. . .the company continues to discover high-grade gold on surface in new areas. . .based on the consistency of trench results at El Barqueno and the mapped linear nature of the surface expressions of the gold-bearing structures, we anticipate a discovery of some type will be made. . .it is rare that such a project crosses our desk that has such a great surface expression in terms of size, intensity and grade, which appears to be extremely simple to test via drilling."

Michael Curran, Beacon Securities Ltd. (8/22/13) "Cayden Resources Inc. is one our favorite drill plays among the small and microcap explorers. . .we view the company as an attractive speculative play for exploration success. While early-stage, we see potential for both of Cayden's Mexican properties to host multimillion-ounce gold deposits. . .we expect the company to be fully funded for exploration activity in 2013–2014."

Metal Augmentor (7/31/13) "Any near-term fireworks would probably come from Cayden Resources Inc.'s El Barqueño property in Jalisco, Mexico, where a major open-pit gold deposit or three appears to be lurking; with highly encouraging early results indicating bulk mining potential featuring strong gold grades near surface, El Barqueño could prove to be one of the more exciting gold projects in Mexico once drilling confirms the continuity below surface (never a certainty but we like the odds here). . .a healthy treasury and the prospects of another big cash deal keep Cayden from needing to beg this dysfunctional market for funds to continue exploring."

Brien Lundin, Gold Newsletter (Jefferson Financial) (7/29/13) "Cayden Resources Inc. has outlined two new targets, enlarged its land position and turned in some more high-grade trench results from El Barqueño, the company's highly prospective gold project in Jalisco, Mexico. . .I like Cayden's aggressiveness on both the acquisition and the exploration fronts. I think it bodes well, especially given the cash influx the company recently got from its Morelos Sur negotiations. We’ll move it back to the buy column, as it looks like a good value at current levels."

Haywood Securities (6/18/13) "Cayden Resources Inc. recently sold the eastern portion of Morelos Sur to Goldcorp for $15.7M cash. . .Cayden should be able to sell its current resource at Morelos Sur, called Las Calles, to Goldcorp as well; Cayden has now nearly completed a 4,150m drilling program at the La Magnetita target at Morelos Sur. . .priorities have shifted to the near-surface, and potentially bulk-mineable, epithermal project in Jalisco at El Barqueňo."

The Gold Report Interview with Brien Lundin (6/12/13) "I like Cayden Resources Inc. For a junior, Cayden offers a lot to like, including a good share structure and money in the bank. The company sold a small portion of its project in the Guerrero Gold Belt to Goldcorp Inc. for approximately $16M. That will fund exploration on its primary projects for the next two years. One highlight is the El Barqueño project, which is showing impressive trench results, including 21m at 8.3 g/t. Cayden should be able to start drilling that target in the near term." More >

Wayne Hewgill, Tempest Funds (6/7/13) "Early trenching results on Cayden Resources Inc.'s El Barqueno gold project in Jalisco state, Mexico, are starting to outline a significant area of near-surface gold mineralization hosted in an array of quartz stockwork and veins bound within two parallel fault zones. . .highlights from the trenching in the western Azteca target area include 21m grading 8.3 g/t Au and 54m grading 1.1 g/t Au. . .the company expects to begin drilling on the El Barqueno project in Q2/13."

Brien Lundin, Gold Newsletter (Jefferson Financial) (6/1/13) "The focus seems to be shifting to Cayden Resources Inc.'s El Barqueño's outsized promise. Given trenches that wide and grades that good, the drilling program on this property has the potential to put the company on the map with a major new discovery. . .Cayden could develop El Barqueño into one of the sector's more exciting stories in the weeks and months ahead, and it certainly has the money in the bank to make that happen; it's a Buy."

The Gold Report Interview with Sean Rakhimov (5/31/13) "The Guerrero Gold Belt has produced recent successes such as Cayden Resources Inc." More >

Bob Moriarty, 321 Gold (5/22/13) "Even if you totally ignore El Barqueno in the Jalisco Gold Belt, Cayden Resources Inc. has enough on its plate to make it through this downturn in gold and resource shares in incredible shape compared to its contemporaries. But El Barqueno is going to shock the industry. People are thinking that their Guerrero projects are the cake and El Barqueno the icing but it's the other way around: El Barqueno is even better than the Guerrero Gold Belt; it's the first major deposit in the Jalisco Gold Belt."

Nicholas Campbell, Canaccord Genuity (5/13/13) "Cayden Resources Inc. reported initial results from the ongoing trenching program at the El Barqueno property. . .highlights from the program include 91m grading 2.9 g/t gold, 40m grading 1.8 g/t gold, 3m grading 7.9 g/t gold and 10m grading 2.1 g/t gold. . .with $15M cash, Cayden is financed to complete the 2013 drill programs and expects to have a cash balance of $9M by the end of the year."

Merrill McHenry, Industrial Alliance Securities (4/11/13) "We recommend Cayden Resouces Inc. for the following reasons: 1.) Location, location, location–not only surrounding Goldcorp Inc.'s 'Los Filos' mines but between them as well, 2.) Exploration drilling at Magnetita East, a target we find highly prospective with excellent soil samples and geophysics, with potential for near-term settlements with Goldcorp and 3.) The El Barqueno project, which could be a company maker."

Michael Curran, Beacon Equity Research (3/21/13) "We are initiating coverage of Cayden Resources Inc. . .we view the company as an attractive speculative play for exploration success. While early-stage, we see potential for both of Cayden's Mexican gold properties to host multimillion-ounce gold deposits."

RBC Capital Markets (3/1/13) "Cayden Resources Inc.'s most interesting project is Morelus Sur in the Guerrero Gold Belt, strategically positioned beside Goldcorp Inc.'s Los Filos project. . .Cayden recently completed a deal with Goldcorp where it sold its non-core assets for $15.7M. Sounds like we could see another deal within the next few months. . .La Magnetita is the focus target on the property within Morelus Sur concession. . .drill results are pending and should be a good source of catalysts for the year."

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