Topic: How To Invest

Pat: Can I have your views on Cadan Resources operating in the Philippines? Thanks.

Article Excerpt

Cadan Resources, $0.90, symbol CXD on Toronto (Shares outstanding: 34.8 million; Market cap: $31.3 million), is a Canadian-based exploration company that develops and explores for gold, copper and silver on several large properties on the southern Philippine island of Mindanao. The company has combined a group of gold and copper/gold properties in eastern Mindanao into one package, the 15 x 3-kilometre Comval Project. Cadan also controls the T’Boli gold project in southern Mindanao. Exploration drilling and underground development at T’Boli has revealed that the site could contain as much as 420,000 ounces of gold and 1.6 million ounces of silver. Cadan hopes to start production at T’Boli in 2010. It’s now building a mine on the site. The company recently raised $1 million in a share issue to fund T’Boli’s development. Like Medusa Mining (see above), Cadan faces political risk in the Philippines, especially in Mindanao, where Muslim rebels continue to battle the government for independence. Cadan’s shares will likely rise if…