Quote of the day goes to my friend W with, “…if this kind of shit happened in the US, someone would be getting a Wells notice from the SEC like yesterday.”
The issue is the Baja Mining (BAJ.to) news release out today, so click on it and have a good laugh at the dumbasses, too. Unless you’re long this stock, in which case laughs will be harder to come by. Here at IKN Nerve Centre™ your humble scribe is still trying to work out the funniest bit. It might be the three directors resigning or it might be the $246m in extra costs on top of the previous cost overrun projections. But overall, it’s probably the total brass neck of Greenslade considering the fun ride we’ve seen in this stock in 2012.
UPDATE at the open:
And to that our old pal Owly says…
Thank you, owly.
UPDATE 2: An extra layer of fun comes after the closing bell today in this NR. Here’s the script:
Resignation of Directors of Baja Mining Corp.
VANCOUVER, April 23, 2012 /CNW/ – Wolf K. Seidler, Director and Chair of the Corporate Governance Committee of Baja Mining Corp. (“Baja”) and Tom Ogryzlo, Director and former Chair of the Board of Baja, confirm that they resigned from the Board of Baja on. April 21, 2012. As Baja did not publish the contents of their letter of resignation in its news release of April 23, 2012, as had been requested, the contents of that letter are provided below.
“It is with great regret that the undersigned, Tom Ogryzlo and Wolf K. Seidler, both hereby resign as Directors of Baja Mining Corp. effective immediately.In light of recent developments, including the departure of Graham Thody, a dedicated long time Director and Chairman of the Audit Committee, we are no longer confident that we can ensure the level of good governance and oversight that the Shareholders of Baja have a right to expect from us.We request that the preceding paragraphs of this letter be publicly disclosed in their entirety.”
“Wolf K. Seidler” “Tom Ogryzlo” WOLF K. SEIDLER TOM OGRYZLO
For further information: Wolf K. Seidler
(705) 492-3638
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