In the short term, if financing is approved this fall, then the stock could trade back in the $2 range it traded in last year.

In the medium term, in two years once processing plant is complete, and in production, stock could be in the range of $10 to $20 per share due to its approximately $250 million profits assuming copper stays in the $2.75 to $3.25 range. Assuming by then we will have about 250 million fully diluted shares. A $1 profit per share at a PE of 20 would be $20.

In the longer term in five years, Baja Mining should be able to fully repai its roughly $600 million loan or what ever it end up being, and start to issue serious dividends of say half of earnings? So at todays copper prices that could amount to $0.50 per year for over 30 years, on an $0.88 stock price today. What a retirement package that is.

In the long term, there appears to be a serious copper shortage. It is estimated that in 10 years unless we curtail the use of copper there will be a 10 billion pounds per year shortfall from current production. Baja will only produce 100 million pound of copper to ease that shortfall. Electric cars will likely increase the amount of copper used in vehicles by twice what is being used today, and that use starts next year with the introduction of the GM volt, ford will not be too far behind, and neither will the rest of the car manufacturers. Copper will be in huge demand. Prices will be much higher perhaps $5 to $10 per pound, and so will BAJ profits and divideds.

In my humble view this is a stock for Warren Buffet. Buy it and keep it for ever. You will kick your self over and over if you sell this at a profit along the way.

This is just my humble opinion, please do your own research before buying this stock.