Camrova Resources Inc V.CAV.H

RE: While We Wait

[CalifDreaming]

Sorry, but grade is immaterial.  It is cost of production that matters.  And with such large cost overrun already (with the project far from completion and further cost overruns likely), IRR collapses to levels that would never get funding if they were announced up front.  But now Boleo has so much money invested, the project has to continue as the lenders can still recoup their loans.  But Baja shareholders aren't likely to see much other than big dilution or substantial loss of ownership, which is effectively the same thing.  And with Boleo having complex metallurgy, odds are high that there will be substantial start up issues and inability to meet production targets.  BAJ is a play to avoid.  A far better project/value is Augusta Resources project in Arizona.  It is conventional mining with well known ore types with large nearby mines in mining friendly area.  Just finalizing their debt package now - all equity has been raised.