Camrova Resources Inc V.CAV.H

thanks kkkrr RE: RE: A real basic question

[10acity]

Thanks kkkrrr...

I guess my problem is when I read the Sept press release (excerpts below) -- I got the impression that funding was complete.

September 29, 2010
BAJA SIGNS US$858 MILLION OF FINANCING FACILITIESFOR THE DEVELOPMENT OF BOLEO PROJECT

 

“Theclosing of the Boleo debt financing and the cost overrun funding are majormilestones for

Bajaand for the mining industry in Mexico,” said John Greenslade, President &CEO. “The

closingof these facilities is a testament to the compelling economics of the projectand to the

strongeffort of our team. It also means full-scale construction activities at Boleocan commence

imminently.”

 

 

The US$823 million of Debt Facilities, representing the entireamount of debt financing required

to develop the Project, will be provided to MMB by theExport-Import Bank of the United States

(“EXIM”); Export Development Canada (“EDC”); the Korea DevelopmentBank (“KDB”); and

by a group of commercial banks comprised of Barclays Capital (theinvestment banking division

of Barclays Bank PLC), Standard Bank Plc, Standard Chartered Bank,UniCredit Bank AG and

WestLB AG (together, the “Commercial Lenders”).