Re: Greenslade in charge
in response to
by
posted on
Jun 27, 2012 06:56PM
LA VERDE--Built On Solid Resources
No doubt CCY is feeling the BAJ affect as well. Guilty by association (greenslade and mine location). I'm tempted to hit anonymous' ask, but I get the impression he'll just put up another 100k at the same price or lower right after...
I think BAJ will turn things around eventually. I believe production of their mine was originally scheduled for 2013 as well.
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http://finance.yahoo.com/news/baja-mining-thanks-shareholders-support-002600303.html
In May, Baja retained BMO Capital Markets to assist in considering financing options and possible sources of funding. Since then 17 non-disclosure agreements have been signed and interested parties were granted access to the dataroom and attended management presentations.
Due diligence is expected to be completed by July and indicative proposals are anticipated to be received shortly thereafter.
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http://www.reuters.com/article/2012/06/20/bajamining-lenders-idUSL3E8HK4K220120620?feedType=RSS&feedName=basicMaterialsSector&rpc=43
The lenders will refrain from exercising rights until Aug. 1 with regard to certain defaults, Baja said in a statement. The company said a cash injection of $21 million will take care of cash requirements for the project till Aug. 1. ---
Looks like BAJ will be able to find the financing needed. I have 0 shares of BAJ. I have a relatively small position in CCY.