With an apparent maket pullback these stocks become attractive

With the market seemingly going through a correction phase, there are some very attractive deals as of late.
Baja Mining Corp. (TSX:BAJ; OTCQX:BAJFF) is a Canadian mine development company with a 70% interest in the Boleo copper-cobalt-zinc-manganese project located near Santa Rosalia, Baja California Sur, Mexico. Boleo is fully permitted, fully funded, currently under construction and targeted for copper production in early 2013.

Boleo is a copper-cobalt-zinc-manganese project located near the town of Santa Rosalia in Baja California Sur, Mexico. Boleo is fully permitted and fully funded. Construction at Boleo re-commenced in November 2010. Copper production is targeted for early 2013.
Boleo was staked in 1992 and since then, as part of a Definitive Feasibility Study (DFS), two test mining programs, two process pilot campaigns, and a +38,000 metre in-fill drill program have been carried out. The DFS was completed in 2007 followed by a Technical Report update issued in March 2010.

BOLEO SNAPSHOT

Ownership:	70% Baja Mining, 30% Korean Consortium
Resource:	Measured+Indicated 265Mt (of which P+P=85Mt) Inferred 160Mt
Deposit:	7 flat-lying soft rock ore beds
Products:	Copper and cobalt metals, zinc sulphate and possibly manganese
Mining:	Underground (10,000 wt/d) + Open Cut
Access:	On the ocean and main highway from USA
Water:	All process (except electrowinning) to run on sea water
Power:	42MW acid plant, 20M heavy fuel oil plant

Boleo Economics⁽¹⁾

Capex	US $889M
Mine Life	23 years
Net Cash Costs	Negative US$ 0.29/lb of Cu
After Tax NPV (8%)	US $1.3 Billion
After Tax IRR	25.60%

Y1-Y6

Copper Grade	Above 2.00%
Avg Yr Production	Cu 125Mlb, Co 3.7Mlb, Zn 55.8 Mlb Cu 56.7kt, Co 1.7kt, Zn 25.4kt
After Tax Yr Avg Cash Flow	US$ 300 M

LIFE of MINE

Copper Grade	1.33%
Avg Yr Production	Cu 84Mlb, Co 3.6Mlb, Zn 65.0Mlb Cu 38.1kt, Co 1.6kt, Zn 29.5kt
Revenue Distribution	Cu 66%, Co 25%, Zn 9%

<sup>(1) Based on March 2010 Technical Report - Cu US $2.91/lb, Co US $26.85/lb. Zn US $0.53/lb


The company has a website that can be accessed at www.bajamining.com.


There is another company that I view as a decent value at present. This company is called Nevada Copper (TSX:NCU).</sup>
Nevada Copper owns 100% of the Pumpkin Hollow Copper Development Property in the Walker Lane mineralized belt of Western Nevada.

Pumpkin Hollow is an advanced stage copper property and as at March 2011 contains:

• Measured and Indicated Resources totalling 5.9 Billion pounds of Copper plus additional Inferred Resources of 3.7 Billion pounds of Copper (all using a 0.2% copper cutoff grade);
• 1.6 million ounces of gold in Measured and Indicated Resources plus 716,000 ounces in Inferred resources;
• 42 million ounces of silver in Measured and Indicated Resources plus 21.8 million ounces in Inferred resources.
• 111 million tons of contained iron in 341 million tons at an average grade of 33% iron at a 20% iron cutoff in the Measured and Indicated Category.

Preliminary Economic Assessment (PEA) results were announced on March, 17, 2008, and updated December 1, 2009 to incorporate a High Grade Case. The initial PEA demonstrated that at a US$1.75 long term copper price, the Pumpkin Hollow Copper Project has a US$784 Million NPV at an 8% discount, with an IRR of 24%. At a US$2.50 copper price the project's discounted NPV at an 8% discount increases to US$1.1 Billion.
The updated PEA assuming a High Grade Case demonstrated that at a US$2.50 copper price, The Pumpkin Hollow Copper Project has a US$498 Million NPV at an 8% discount with an IRR of 44% and Capex of $192 Million. At a US$3.00 copper price the project's discounted NPV at an 8% discount increases to US$ 784 Million. The NI43-101 compliant technical report highlighted several additional areas that have the potential to further improve the already solid economic base. The detailed PEA can be accessed at http://www.nevadacopper.com/i/pdf/PumpkinPEA-01-13-10Rev-Final.pdf.

Pumpkin Hollow is a high grade IOCG deposit within a district rich in porphyry copper deposits where the district mineral inventory is over 24 billion pounds of copper.

Pumpkin Hollow supports a positive economic profile, representing a US$784M, NPV at an 8% discount and US$1.75 long term copper price as reported in a 2008, 43-101 compliant Preliminary Economic Assessment.

Pro-mining location with excellent local infrastructure.

Pumpkin Hollow contains significant resource upside with deposits remaining open in multiple directions.

Feasibility Study due by Q3 2011

The link to the company's website is www.nevadacopper.com and everyone who is interested should start their due diligence there. For disclosure I have received no compensation of any kind for this post. I do not own either of these stocks at present but I do plan to purchase some shares of NCU in the near future.