Baja Mining Corp.(BAJ.t)
Baja Mining Corp. (“Baja”) owns a majority interest in El Boleo Project, an advanced polymetallic (copper, cobalt, zinc, manganese) property located in Baja California Sur, Mexico. Baja has assembled an exceptional management team who are developing Mexico’s largest copper-cobalt deposit.
HIGHLIGHTS
* Definitive Feasibility Study completed
* Approval received for Environmental Impact Manifest
* Production scheduled for early 2010
* Average annual production, for the first four years of production:
o Copper cathode: 55,750 tonnes
o Cobalt cathode: 1,535 tonnes
o Zinc contained metal: 6,300 tonnes
* Proven and probable reserves provide for 25 year mine life
* Measured and Indicated resources: 277.2 million tonnes grading 1.77% copper equivalent
* Inferred resources: 253.2 million tonnes grading 1.29% copper equivalent
* Management ownership: approximately 24%
* US$515 million debt facility secured
* US$64 million equipment lease secured
* Share purchase funding agreement executed with Korea Resource Corporation on April 17, 2008
BOLEO PROPERTY
Ownership: Baja Mining owns 100% interest
Location:
Baja California Sur, Mexico
Size:
Approximately 22km long and 16km wide
Resource:
277.2 million tonnes Measured & Indicated (1.77% copper equivalent)
253.2 million tonnes Inferred (1.29% copper equivalent)
The Boleo Project is an advanced stage polymetallic (copper, cobalt, zinc, manganese) project located on tidewater on the east coast of the Baja Peninsula near Santa Rosalia, Baja Sur, Mexico. Boleo is one of the largest copper deposits in development in North America.
Baja recently completed a Definitive Feasibility Study (DFS) on the project and is now in a position to fast-track development to achieve production in mid-2009. The DFS is a compilation of the results of two test mining programs, two process pilot campaigns, and a +38,000 metre in-fill drill program completed on the Boleo project.
Baja is proceeding with construction financing and off-take arrangements and expect to have these completed by September 2007.
SHARE STRUCTURE
As of April, 2008:
Issued and Outstanding: 142 million
Convertible Securities (including warrants* and options): 41 million
Fully Diluted: 183 million
Management Ownership: 24%