09:49 AM EST - Baja Mining Corp. : announced that the lenders to its 70% owned subsidiary, Minera y Metalurgica del Boleo S.A. de C.V. have agreed to a waiver to the second standstill agreement. The new standstill agreement requires the Korean Consortium to complete Stage I financing by August 27. The Korean Consortium has advanced approximately $73.5 million U.S. of the total $90 million U.S. of Stage I financing, which is sufficient to trigger the reduction in Baja's interest in MMB from 70% to 49%. However the formalities required to transfer the shares and transfer control have not yet been completed. Baja Mining Corp.
shares T.BAJ are trading unchanged at $0.07.
