September 11,
2009
TSX:BAJ
OTCQX:BAJFF
PRESS
RELEASE
BAJA COMMENCES TRADING ON OTCQX
VANCOUVER, B.C. ? Baja Mining Corp. today announced that its common
shares commenced trading on the Pink OTC?s most prestigious tier, OTCQX
International, under the symbol, ?BAJFF? effective at market open, September
11, 2009. Baja?s shares continue to trade on the Toronto Stock Exchange in
Canada under the symbol ?BAJ?.
Dorsey & Whitney LLP will serve at the Company?s Principal American
Liaison (PAL) on OTCQX.
Baja expects to benefit from being listed on OTCQX alongside many
internationally respected corporations and from gaining greater exposure in the
United States capital markets.
?We believe this listing will provide a more convenient and transparent
forum for U.S., and other international, investors to access Baja?s growing
market and will provide more widespread awareness of the Company?s ongoing
developments and progress,? said Baja?s President and CEO, John Greenslade.
Said R. Cromwell Coulson, Chairman and CEO of Pink OTC
Markets, ?Listing on OTCQX will provide Baja Mining with greater access to the
U.S. capital market, the opportunity to expand its investor base and increase
international liquidity. We are pleased to welcome Baja Mining to OTCQX.?
OTCQX provides a gateway to U.S. securities markets for international
companies that are listed on a qualified non-U.S. exchange. More importantly,
OTCQX distinguishes reputable international issuers from the other 9,000
over-the-counter (OTC) securities traded in the U.S. Only leading companies
that have substantial operating businesses and provide ongoing, credible
disclosure to the public are eligible for inclusion on the premium-tier OTCQX,
which commenced trading on March 5, 2007. For more about OTCQX, visit www.otcqx.com.
Baja Mining is a Vancouver-based publicly traded company
(TSX:BAJ) with a 70% interest in the Boleo copper-cobalt-zinc-manganese project
located near Santa Rosalia, Baja California Sur, Mexico. A Korean syndicate
holds the remaining 30%. Baja is the project operator. The target date for commissioning
Boleo is 2012. A 2007 definitive feasibility study projected an average annual
production for the first four years of 56,000 tonnes of copper cathode, 1,500
tonnes of cobalt cathode and 20,000 tonnes of zinc sulphate. The project has
proven and probable reserves that support a mine life of more than 25 years. Anticipated
cash costs in the first five years are US$0.27 per pound of copper, net of
by-product credits for cobalt and zinc, and with no credit for manganese.
ON
BEHALF OF THE BOARD OF DIRECTORS OF
BAJA
MINING CORP.
?John
W. Greenslade?
JOHN
W. GREENSLADE, PRESIDENT
For
further information please contact John Greenslade, President, at (604)
685-2323
Some of the
statements contained in this release are forward-looking statements, such as
statements that describe the Company?s, expected timing of project
commissioning, expected greater access to capital investment markets,
anticipated cash costs in the first five years and other statements. Since
forward-looking statements are not statements of historical fact and address
future events, conditions and expectations, forward-looking statements by their
nature inherently involve unknown risks, uncertainties, assumptions and other
factors well beyond the Company?s ability to control or predict. Actual
results and developments may differ materially from those contemplated by such
forward-looking statements. Material factors that could cause actual revenues to
differ materially from those contained in such forwarding-looking statements
include (i) fluctuations on the prices of copper, cobalt, zinc and manganese,
(ii) interpretation of contract terms, (iii) accuracy of the Company?s and
consultants? projections, (iv) the Company?s ability to finance, receive
permits for, obtain equipment, construct and develop the El Boleo Project, (v)
the effects of weather; operating hazards; adverse geological conditions and
global warming, (vi) impact of availability of labor, materials and equipment;
and (vii) changes in governmental laws, regulations, economic conditions or
shifts in political attitudes or stability.
These forward-looking statements represent the Company?s views as of the
date of this release. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Readers should not
place undue reliance on any forward-looking statements.
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