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WITM - Wits Basin Precious Minerals Inc

post #1 of 2165
2/21/07 at 5:06am
Thread Starter 


Wits Basin Precious Minerals, Inc. and its subsidiaries engage in the exploration and development of mineral properties in South Africa, Canada, Mexico, and Colorado, the United States. It holds a 35% indirect interest in the FSC Project, a gold exploration project located adjacent to the Witwatersrand basin in South Africa. The company also owns exploration rights in the Holdsworth project located near the village of Hawk Junction, Ontario, Canada; and in the Bates-Hunter mine, which is located approximately 35 miles west of Denver, Colorado. In addition, it owns a 25% interest in the property, known as the Vianey Mine Concession located in the state of Guerrero, Mexico. Further, Wits Basin Precious Minerals holds interests in the MacNugget Claims, a volcanogenic massive sulphide base metals project located in northern Ontario, Canada. The company was incorporated in 1992 as Meteor Industries, Inc. and changed its name to Active IQ Technologies, Inc. in 2001. Further, it changed its name to Wits Basin Precious Minerals, Inc. in 2003. Wits Basin Precious Minerals is headquartered in Minneapolis, Minnesota.
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post #2 of 2165
2/21/07 at 5:07am
Thread Starter 

continued

Quote:
About Wits Basin Precious Minerals Inc.

We are a minerals exploration and development company holding interests in five exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) visit our website at www.witsbasin.com.

Forward-Looking Statements and Risk Factors

The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. These risks and uncertainties include, among others, the Company's ability to obtain or maintain regulatory approvals; the Company's ability to obtain necessary financing; the Company's ability to enter into and meet all the conditions to consummate the proposed merger agreement, and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements.

In addition, the exploration for and development of mineral deposits involves significant financial risks, which even experience and knowledge may not eliminate, regardless of the amount of careful evaluation applied to a process. While the discovery of a mineral deposit may result in substantial rewards, few properties are ultimately developed into producing mines. Moreover, we cannot make any estimates regarding probable reserves and mineral resources in connection with any of our projects and any estimates relating to possible reserves are subject to significant risks. Therefore, no assurance can be given that any size of reserves or grades of reserves will be realized. If a discovery is made, the mineral deposit discovered, assuming recoverable, may differ from the reserves and mineral resources already discovered and recovered by others in the same region of the planned areas of exploration. Further, the cost of exploration and exploitation can be extensive and there is no assurance that we will have the resources necessary or the financing available to pursue projects we currently hold interests in or to acquire interests in other mineral exploration projects that may become available. The risks we face are numerous and detailed information regarding these risks may be found in filings made by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-KSB, quarterly reports on Form 10-QSB and reports on Form 8-K.

The proposed merger with Easyknit and joint venture with SSC are subject to various contingencies, including negotiation and execution of definitive documentation, completion of due diligence, receipt of required regulatory approvals, and board and shareholder approvals by both parties.
Of course, this will depend partly on the value of the Easyknit shares at the time of the transaction. Here's the chart for Easyknit on the HK exchange.



As you can see, at the current price for WITM shares, Easyknit shares would have to lose 90% of their value in order to lose on this! 90%?! That would have to be one hell of a dump! IMO, this is a good buy at least to $1.50.

Of course, make your own decisions. These are only my opinions!
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post #3 of 2165
2/21/07 at 5:08am
Locked and Loaded!

I can't wait to see what this does tommorrow!
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post #4 of 2165
2/21/07 at 11:35am
Easily 1.50 today in my opinion. With current prices of both stocks, WITM is worth well over 5.00 . Good Luck Today.
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post #5 of 2165
2/21/07 at 11:45am
hmm very nice, hopefully I can sell something else to free up some $$.
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post #6 of 2165
2/21/07 at 11:46am
Thread Starter 
Let's hope so, but it seems that I expect a stock to rock, it does the opposite. lol
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post #7 of 2165
2/21/07 at 1:20pm
Quote:
Originally Posted by Blooey
Let's hope so, but it seems that I expect a stock to rock, it does the opposite. lol
I feel ya!
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post #8 of 2165
2/21/07 at 2:02pm
Thread Starter 
Wow, 30 minutes to go and it's gapping to .70 already!
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post #9 of 2165
2/21/07 at 2:26pm
Quote:
Originally Posted by Blooey
Wow, 30 minutes to go and it's gapping to .70 already!
looking good!
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post #10 of 2165
2/21/07 at 2:34pm
Estimated short term prices?
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post #11 of 2165
2/21/07 at 2:36pm
got in at .66
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post #12 of 2165
2/21/07 at 2:37pm
Thread Starter 
Going!
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post #13 of 2165
2/21/07 at 2:37pm
here we go!
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post #14 of 2165
2/21/07 at 2:38pm
Thread Starter 
This one is going to be insane today. $5!!!! Woot!
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post #15 of 2165
2/21/07 at 2:39pm
Got some at 0.67 on the very slight dip, about 10 seconds before it shot back up to 0.69 and now higher... nice.
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post #16 of 2165
2/21/07 at 2:40pm
fast mover !
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post #17 of 2165
2/21/07 at 2:41pm
Thread Starter 
Of course it is. Remember these shares are worth almost $6 as of right now!
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post #18 of 2165
2/21/07 at 2:41pm
we will be in dollar land in just a sec the way this is moving!
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post #19 of 2165
2/21/07 at 2:43pm
blew past my order at .72 even though it was .70 x .71 when i put it in... must have been a ton of orders in front of mine. might just watch this and look for dips before the end of March, accumulate.

nice find blooey
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post #20 of 2165
2/21/07 at 2:43pm
Thread Starter 
Yup. Going to break 0.74 soon. Damn, it's taking everything I got not to add to my position! (My new policy...)
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