Mr. Mouat vs Mount Kellett Time to reread a section of Mr Mouat letter today to Baja shareholders"
" ... Ultimately the Board was forced to conclude that firing John Greenslade, at that time, might jeopardize the bank financing and kill the project. This was too great a risk to Baja Mining for the Board to take. Subsequently, two members of the Board effectively quit (including myself) ... "
As we all know, Mount Kellett chose quite different language when it described the two members departure. According to Mount Kellet they were effectively booted off the Board, by the CEO (John Greenslade). These two views are incompatible. Who do we believe? Who is telling the truth: Mr Mouat or Mount Kellett? Because Mr. Mouat was there on the scene and is one of the subjects in this drama, I accept his account of the departures, over the account put out by Mount Kellett. The two voluntarily left the board on their own free will.
Whatever you do, don't think that Robert Mouat entered the fray this week, this month, this year or last year (2011). Mount Kellett and Mr. Mouat got together in the fall of 2010 when Mount Kellett first started doing their due diligence. This is when Mr. Mouat was still an active member of the Baja BOD, and it was before Baja had bought a single Baja share.
The actual timing of Mr. Mouat involvement with Mount Kellett might surprise some of you. Do you remember Senator Howard Baker's famous question asked during the (USA) Senate Committee investigating the Watergrate scandal (1973-74)? It might be appropriate to paraphrase that when discussing Mr. Mouat's appearance.
"What did the President know and when did he know it?"
Mr. Mouat and Mr. MK. Who came first, the chicken or the egg?
Cheers,
Doug.