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Cayden and Curis, on the block

Bob Moriarty
Archives
Sep 10, 2014

We must be near a bottom, the M&A space is heating up.

Late in the day on Monday, September 8th, Agnico Eagle announced a takeover bid for Cayden Resources. The bid would be worth $205 million at prices on the 8th or 9/100 of an Agnico Eagle share per Cayden share. At Monday’s prices, the bid was worth $3.79 a share. I first wrote about Cayden in May of 2013. The price of Cayden was $.72 a share. For those three or four investors in resources who had the guts to invest the sale reflects a 426% gain in 16 months.

On September 8th, Taseko announced an offer for Curis shares at a 31% premium over their 60-day average trading price. I wrote about Curis in April of this year, the price was $.81 a share. The offer values Curis shares at $1.055. That’s a 25% gain which beats a red-hot stick in the left eye ball.

Investors have given up on resources shares. That’s the very best time to be buying. Cayden isn’t going to be the last company to make investors a 426% return.

Cayden Resources
CYD-V $3.39 (Sep 09, 2014)
CDKNF 49.7 million shares
Cayden Resources website

Curis Resources Ltd
CUV-T$.94 (Sep 09, 2014)
PCCRF 74.7 million shares
Curis Resources website

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Bob Moriarty
President: 321gold
Archives

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