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Message: Re: Baja vs. MK

Apr 20, 2012 02:06PM

I think given the recent resignations of Gerald Prosalendis who is CCY director on Tues and 2 other directors on Friday and BAJ being hit with a bigger bill for Capex that they will be looking internally for the foreseable future.

I think BAJ will be preocupied with re-structuring their board and financing the increased costs. BAJ had pretty big volume (10x normal) on Friday. The last two directors left with this zinger NR:

Resignation of Directors of Baja Mining Corp.

Baja Mining Corp. BAJ

4/23/2012 4:31:00 PM

Resignation of Directors of Baja Mining Corp.

VANCOUVER, April 23, 2012 /CNW/ - Wolf K. Seidler, Director and Chair of the Corporate Governance Committee of Baja Mining Corp. ("Baja") and Tom Ogryzlo, Director and former Chair of the Board of Baja, confirm that they resigned from the Board of Baja on April 21, 2012. As Baja did not publish the contents of their letter of resignation in its news release of April 23, 2012, as had been requested, the contents of that letter are provided below.

"It is with great regret that the undersigned, Tom Ogryzlo and Wolf K. Seidler, both hereby resign as Directors of Baja Mining Corp. effective immediately.

In light of recent developments, including the departure of Graham Thody, a dedicated long time Director and Chairman of the Audit Committee, we are no longer confident that we can ensure the level of good governance and oversight that the Shareholders of Baja have a right to expect from us.

We request that the preceding paragraphs of this letter be publicly disclosed in their entirety."

"Wolf K. Seidler" "Tom Ogryzlo"

WOLF K. SEIDLER TOM OGRYZLO

Wolf K. Seidler

(705) 492-3638

Canada Newswire

April 23, 2012 - 4:31 PM EDT


Apr 25, 2012 02:43PM
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