Camrova Resources Inc V.CAV.H

RE:RE:RE:RE:RE:RE:How much of the debt does BAJ own?

[Suntrader]

Well, here is the full news release which to me reads that Baj is not on the hook for any of it. MMB owes the money for the bond and Baj owns 10% of MMB.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) - Baja Mining Corp. ("Baja" or the "Company") (TSX VENTURE:BAJ)(OTCQB:BAJFF) is pleased to announce that it has been advised by Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. ("MMB") and Korea Resources Corporation ("KORES") that MMB has completed the issuance of a US$340 million corporate bond with a fixed annual interest rate of 2.875% and repayment due May 7, 2019, fully backed by a KORES guarantee. MMB has further advised the Company that it has used approximately US$288 million of the bond proceeds to repay in full and close the remaining 2010 Project Financing senior facilities, as well as the Korean Development Bank subordinated debt. The Company expects the remaining proceeds of the bond to be used to fund a significant portion of the balance of the Boleo Project construction completion.

The Company understands that following the repayment in full by MMB of the outstanding principal and interest amounts and commitment and break fees, the 2010 Project Financing senior facilities are effectively terminated and, upon finalization of the termination and release documentation, the Company expects that it will no longer be liable as a guarantor of any amounts borrowed by MMB, nor liable in respect of any overall economic completion guarantee for the Boleo Project.

Read more at https://www.stockhouse.com/news/press-releases/2014/05/13/baja-mining-corp-mmb-issues-us-340-million-corporate-bond-and-repays-project#XXfXgciAJdT9rbVZ.99