BAJ is a solid InvestmentBaja Mining Corp. Field Visit by Raymond James Analyst and report issued on
March 30, 2012
https://www.andrewjohns.ca/node/2852
Report Highlights:
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"We are providing an update on the Boleo project after our recent visit to the property in Mexico."
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"We reiterate our Outperform rating and our C$1.90 target price."
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- "The proxy battle is not affecting development on site"
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"Overall, we came away impressed with the quality and organization of the work done so far
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"Baja’s management team is currently conducting a definitive forecast of the costs to complete the project and expects to complete this analysis in late 2Q12."
The points I want to highlight are:
1. BAJ is a solid investment and on track to deliver a high value mine
2. BAJ has high quality design/construction management---ICA Fluor( EPCM contractor)
3. BAJ management did not hide overruns/escalations---forecast are done periodically---it's impossible to really quantify and differentiate the sources of overruns/escalations without a definitive forecast.
4. A comprehensive study of cost overrun published in the Journal of the American Planning Association in 2002 found that 9 out of ten construction projects had underestimated costs. Overruns of 50 to one hundred percent were common.https://en.wikipedia.org/wiki/Cost_overrun
5. No creditable firm would share un-audited/preliminary forecast to the public or board of directors.
The bottom line is there are individuals on this board who are paid to mis-lead you---please look at the facts and not be side-tracked by their false claims, exaggerations and stock price manipulation to win votes in a future proxy vote.