Baja Buys Time for Boleo Project Financing

Reuters reported that Baja Mining (TSX:BAJ) has been granted a 45-day standstill from lenders as it looks to secure funding for the Boleo copper-cobalt-zinc project.

As quoted in the market news:

The lenders will refrain from exercising rights until Aug. 1 with regard to certain defaults, Baja said in a statement. The company said a cash injection of $21 million will take care of cash requirements for the project till Aug. 1.

Click here to read the full Reuters report.