Camrova Resources Inc V.CAV.H

RE:RE:RE:RE:RE:RE:RE:RE:RE:"Educar para la vida"

[mining_pays_my_bills]

Mickey- how do you see BAJ stake being reduced all the way down to 0%? Please see my post from June 23, 2014, quoted below re: dilution. Dilution may be from 10% down to 9%, or maybe even 8% but highly unlikely to be beyond that. Consider this quote from the Q1 MD&A: "For illustrative purposes, if there is a $100 million cash call funded entirely by equity contributions, should Baja not contribute in proportion to its current 10% shareholding in MMB, Baja’s 10% interest would be diluted to approximately 8.9%" So, in whatever formula they've worked out with KORES, BAJ is diluted by about 1% for each $100 Million in over-runs (if BAJ is not able to contribute it's proportional 10% of the over-run). So, to be diluted down to nothing would mean the project would have to go $1 Billion over budget. As of todays' press release, they stated they were still a 10% owner, the project has not exceeded $1.751Billion. Being this close to completion, targetting copper construction completion at end of this month, and cobalt-zinc circuits for middle of August, it's highly unlikely that the project will go $1Billion over budget. Construction would have to continue for another 4 years to burn a billion $ in construction costs. I think the "illustration" they provided in the MD&A is in fact a projection of what they think will happen after all is said and done. $100Million over budget is a very real possibility. I can live with 9% of a mine. Many companies out there have NSRs (net smelter royalty) of 2-5% on some of these mines, and it's a cash cow for them. 9% is very good. Read more at https://www.stockhouse.com/companies/bullboard/v.baj/baja-mining-corp#z9a6yxAqkiKwIvMw.99