RE: Situation is more complicated TripleG2,
I agree with you that the situation, as presented and crafted, is complicated. I agree that no one party here will leave this Proxy battle untarnished. I agree that investors will have greater reason to take more than a cursory look at the company, its annual reports and future proxy's for nominations etc., going forward.
Please agree however, that the current incarnation of BAJ is successfully building a mine that will bring investors significant returns and give credit where credit is due, that they did a masterful job in financing the mine construction, save for the significant dilution to bring the required funds of their own to the table. That one still smarts a little with me, but at the time there was little choice.
On to the meat of your statement and questions. I have to question Mouat's remarks and the reasons have been explained here, as well as are a matter of record. It is far too coincidental that it is at this time that he chooses to make his grievances with the current BOD known. The fact alone that MK had his letter to the Globe in advance of it being received by them and sent to investors taints it greatly.
I do not agree that MK has anything to bring to the table to help BAJ except more money to buy shares in excess of its current 19.9%. When dealing with either party the question of trust is paramount. BAJ management are on time and on budget to building a mine. MK is by its own admission and opportunistic company and if given that opportunity will make the most of their money at the expense of others. I would like you to confirm where you found reference to their needing 90% of the vote to take over the company as that would be of interest to me. Even if they have, or control, 51% of the shares they can evoke privileges to themselves and make significant changes to the Shareholder Rights Plan and other current protection the retail investors have to manipulate this company to serve their own opportunistic ends. I worry about the 51% and not the 90%. To me it is not a question of whether or not they "will" screw the retail investor, but "if they have time" to screw us before the mine starts operation and they are forced to pay a much higher market price to either gain full control or open the door for anther party to come in (at a quick and nice profit to MK of course).
I have avoided providing links to known information as it is a matter of public record. You are welcome to your opinion but if you want to add credibility then you should provide links to support the facts that support your arguments. I fear greatly that Baja will not get to production before a take over occurs unless the share price rises considerably to make it more costly for suitors to go after it. As it stands now it is at risk not just by the likes of MK but a host of other opportunistic interests. What is very telling to me is that the current management are completely untrusting of MK in this fight and considering the compromises already made by management showing an openness for change there is no doubt in my mind which party I'd rather trust.