posted
simon talked to him directly, by increasing shareholder vlaue im sure hes talking about the hong kong deal...read the prs =)
Posts: 3086 | From: miami | Registered: Nov 2005
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10, 10k is nothing ive seen 25k+ blocks and big trades everyday on witm, i know a guy with 100k...watch this one tomorrow could get poppin'
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
Alright, snuck in at 1.14 Top floor please, or anywhere up will do just fine.
Posts: 252 | From: WestCoast | Registered: Oct 2006
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Wits Basin Enters into a Letter of Intent to Acquire Second PRC Mining Property Wits Basin Precious Minerals Inc. (OTCBB: WITM) is pleased to announce that it has entered into a letter of intent to purchase an initial 51% interest in Chang Jiang Mining Company Limited (“Chang Jiang”) which owns the exploration rights of Lao Wan Iron Deposit in Yuan County, Hubei Province (“Lao Wan”) located in the People’s Republic of China (“PRC”). Wits Basin retains the right to earn an additional 44% for a total interest of 95%. Completion of this transaction is subject to various other conditions, including completion of definitive documentation.
About Chang Jiang Mining Company Limited
Chang Jiang owns the exploration rights of Lao Wan Iron Deposit. This Deposit covers approximately 17.78 square kilometers in Yuan County, Hubei Province in the PRC. Construction of a processing plant to produce iron ore concentrate is underway with anticipated production for 2007 to be approximately 200,000 tons of concentrate. A smelting plant to produce pig iron is also being planned.
Drilling of the first phase on this Deposit has been completed and the second phase of drilling is scheduled to be complete this summer.
Chang Jiang claims that the total tons at this location are significantly greater than the tons available at Maanshan Mining.
On March 13, 2007, Wits Basin announced it had entered into a letter of intent to purchase 100% of Maanshan Mining. Maanshan Mining is comprised of two operating iron mines - the Xiao Nan Shan Iron Deposits and the Ma Tang Iron Deposits. Maanshan Mining estimates that the total iron ore available for extraction from the two mines is approximately 95 million tons.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in three 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) visit our website at www.witsbasin.com.
Forward-Looking Statements and Risk Factors
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
lol so the 2 of you know, the merger is on track to close saturday, according to IR, this has been confirmed btw
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
Good to know Trade, and thanks. Too busy at work and I've got very little time to DD anything these days.
Posts: 252 | From: WestCoast | Registered: Oct 2006
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posted
heres a post (for convienience) from ANOTHER investor who also got a reply via IR
I have copied the reply as well as my 2 questions which I sent to IR
Yes, we are still on target to achieve the items you mentioned below. Wits Basin management is in Hong Kong right now and they are on track to complete the definitive documentation by March 31. Further progress will be made on the ADR program once the definitive documentation is complete and the company still intends to implement the ADR program in conjuction with the merger.
From: Sent: Wednesday, March 28, 2007 7:01 PM To: info*lhcom.bz Subject: question regarding the merger
Deb:
Are we still on target to achieve the following 2 items mentioned in a prior PR by WITM?
Certain Board Members and representatives of management are now planning a return trip to Hong Kong in March, which they believe will allow for the finalization and execution of the definitive documents. Out of respect for the Chinese New Year, the planned date of execution of the definitive documents is now expected to be on or before March 31, 2007.
Company management is currently working with the depository trustee to commence meeting the requirements of the ADR program. The ADR program will enable our North American shareholders to have a North American exchange available to them to buy and sell their respective shares after completion of the merger. The Company intends to implement the ADR Program in conjunction with the merger.
Thanks You have rated
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
Wits Basin Executes Definitive Merger Documents Friday April 20, 7:34 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to announce that it has finalized and executed the definitive documents regarding the announced merger with Easyknit Enterprise Holdings Limited (SEHK:616 - News). ADVERTISEMENT
The exchange will grant a minimum of 21 shares of Easyknit for each share of Wits Basin. Any additional payment of Easyknit shares may be used for the purpose of exercised warrants, options, transaction and fee expenses, and ongoing financing costs.
The rules of the Hong Kong Stock Exchange regarding a material acquisition require the trading of the Easyknit shares to be suspended until the Hong Kong Stock Exchange permits resumption of trading.
Pursuant to the terms of the merger, Easyknit will file immediately with the depository trustee to commence the initiation of the ADR program. The ADR program will enable our North American shareholders to have a North American exchange available to them to buy and sell their respective shares after completion of the merger. The Company intends to implement the ADR program in conjunction with the merger.
Both companies have agreed to use good faith and best efforts to complete the merger. The merger documents require a break fee of US$30M dollars for any arbitrary termination of the merger by either party.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in three 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 consummate the Easyknit merger; the Company's ability to complete the various mining project acquisitions in the People's Republic of China, which are subject to execution of final documentation, completion of due diligence and receipt of necessary financing; 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 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 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.
Contact: Wits Basin Precious Minerals Inc. Vance White, Chairman, 866-214-9486 Stephen King, CEO, 612-490-3419 or Lighthouse Communications, 866-739-0390 info*lhcom.bz
posted
Yeah...i don't think I like ARCA today...LOL This has been great for "swings"...not so great for quick runs...IMO... we'll see what this afternoon brings...!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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