…at an anchorage point along the Grande Côte he calls the Palma di Budomel (location uncertain, probably around Mboro, 15°09′42″N 16°55′45″W).

Cadamosto notes that this spot (or resgate) was already used by Portuguese traders.

He dates that trade between the Portuguese and the Wolof people of the Senegal region was opened around 1450 ("five years before I went on this voyage").

Cadamosto had sought to trade Iberian horses for black slaves, the principal line of business at this resgate.

Horses are highly valued on the Senegalese coast, and traded at a rate of between nine and fourteen slaves per horse.

Cadamosto is said to have sold seven horses and some woolen goods (a total value of around three hundred ducats) for about a hundred slaves.

While at the anchorage, Cadamosto is surprised to be met by the ruler himself, the Damel of Cayor (whom he calls Budomel), accompanied by his retinue.

The Damel invites him inland while the details of the trade are finalized.

Cadamosto spends nearly an entire month in an inland village, hosted by the prince Bisboror (Budomel's nephew), during which time he delights in observing much about the local country and customs.

His trade in Cayor completed, rather than return home with his human cargo, Cadamosto decides to cruise further down the coast, towards the Cape Vert peninsula.

This is intended as a pure exploratory jaunt, "to discover new countries" beyond the Cape, more specifically the mysterious "kingdom called Gambra", where Prince Henry has heard (from earlier slave captives) that gold is found in abundance.