TSXV:CAV.H - Post by User
Comment by
Geysiron Oct 04, 2010 6:58pm
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Post# 17527357
RE: RE: RE: What else needs to happen?
RE: RE: RE: What else needs to happen?>>>The reason I ask is because of all of the additional talk on here aboutfurther dilution and the need for equity financing. I'm wondering whatthe basis is for these claims.<<<<
Go to the Baja Mining website and listen to the Sept 30, 2010 conference call
The call mentions $114 million of equity financing needed.
BAJ does not want to do it at $1.00 per share so is talking to private equity firms as well as thinking of a public offering.
The equity financing needs to be done before the first draw on the financing dollars - which BAJ wants to do in the 2nd quarter of 2011.
Copper hedging needs to be done before the draw as well - BAJ intends to do that in the next 2 months.