drinking coffee waiting for 9:30AM
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WITM News
Wits Basin Announces the Xiaonanshan Iron Ore Mine in The Peoples Republic of China has Reopened
Wits Basin Precious Minerals Inc. (OTCBB: WITM) is pleased to announce that through the efforts of “The Anhui Zhonghai Mining and Trading Company” (AZHM&T Company), whom Wits Basin has contracted with, that the Xiaonanshan Mine, located in Anhui Provence of The Peoples Republic of China, has been reopened. Wits Basin owns a 75% equity interest in China Global Mining Resources (BVI) Limited, which owns the Xiaonanshan Mine.
This development puts the Company ahead of its earlier announced schedule, which in turn allows the Company to work with AZHM&T Company and help develop their plans of ramping up production and establishing estimations for production, processing and revenue for the balance of 2013. The Company expects to have these estimations completed during the second quarter.
In addition, the Company is pleased to announce that an arbitration award won by the seller has been mutually and amicably resolved. The settlement is subject to non-disclosure and confidentiality terms.
Based on estimates, the Xiaonanshan Mine contains sufficient ore for more than 30 years of operation at the previous recovery rate. Current iron ore spot prices remain more than 50% higher than in 2010 when the mine last operated.
Wits Basin has posted photos of the mine’s current operations at http://witsbasin.com/photos.html
Furthermore, the Company has posted a detailed Q&A of FAQs on its website. Shareholders can submit questions by writing to: info@witsbasin.com.
About Wits Basin Precious Minerals Inc.: Wits Basin is a minerals exploration and development stage company that owns a 75% equity interest in China Global Mining Resources (BVI) Limited, which owns the Xiaonanshan Mine, located in Anhui Provence of The Peoples Republic of China. 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: Certain statements included in this press release may constitute 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 relate to the Company and its subsidiaries, and include, among others, the ability to obtain or maintain regulatory approvals; the ability to obtain necessary financing; and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission.
it occured before the news dropped, now .35 million on the bid
holy moly its finally over 30 years of production time
wild volume today WITM
WITM new leg starting
WITM nice volume
got a few buys in! lets beat up .013
seems that's the next step now :)
interesting 8k today, buyout?
http://ih.advfn.com/p.php?pid=nmona&article=53913046
yes, big day coming up wednesday; mediation for trial. info can be found below
hope all is well
http://pa.courts.state.mn.us/Search.aspx?ID=200&NodeID=174,151,160,131,132,146,111,175,161,191,176,147,133,119,134,120,121,113,162,1303,1301,1305,1302,1306,122,178,192,179,135,193,163,180,164,148,114,136,137,183,184,138,115,165,154,155,123,139,140,141,185,124,186,194,142,187,166,188,143,167,125,144,189,116,195,117,157,126,168,1491,1492,1493,169,158,170,127,159,128,145,171,129,197,172,190,181,182,153,156,177,173,150,152,11810,11811,11812,11813,11815,11822,11823,11817,11818,11819,11820,1304,13041,13042,13043,13044,1961,1962,1308,11201,11202,13045,11203&NodeDesc=All MNCIS Sites - Case Search
Civil Court Case #: 27--CV-11-24590
hey mick, you still watching? WITM
markets responding nicely
breaking .0788 and .09 will bring in some chartists
short selling knight, ohhhhh the irony
WITM seller gone looking to break .1
http://stockcharts.com/h-sc/ui?s=WITM&p=D&b=5&g=0&id=p61785449449
thanks for the update from the courts. i thought the threats were a rumor
ya thanks for finding the amended CC
what do you think mick? .25 coming fast?
looking good my friend
there was more information released today regarding the case. most of it on the yahoo board. ill try to dig it up tonight
Watch the language, I dont have the time or patience to baby sit all day.
as moderator feel free to make any updates you like. the more information the better. i was thinking of making blamidas' post a sticky. is that what you were going to do?
shes a swinga
broke 10 today, very nice
hmm bids building
bidding @ 1 for today
hearing scheduled 4/13/2012
http://pa.courts.state.mn.us/CaseDetail.aspx?CaseID=1614990617
.019 is a big technical wall, could get interesting soon
person mark #350 for you!
.016 getting hit, breaking the wall to .02
amazing amount of work, thanks my friend
information overload
i found the counter-claim by witm
http://www.slideshare.net/kenglo1watcher/wits-basin-counterclaim
hmmm not sure if that is OTCBB:CMGR or just an agreement known as CMGR. ill have to look into that tonight
WITM news from yesterday
Wits Basin Files Counterclaim Seeking $650,000,000 Of Damages From London Mining
Print
Alert
Wits Basin Precious Mnrls (PN) (USOTC:WITM)
Intraday Stock Chart
Today : Tuesday 17 January 2012
Wits Basin Precious Minerals Inc. (WITM.pk; the “Company”) reports that it has filed an answer and counterclaim to London Mining plc’s (AIM Stock Exchange, London, Symbol: LOND) recently filed action in Hennepin County District Court, Minnesota. London Mining initially filed the subject complaint which was served against the Company on December 19, 2011, seeking the repayment of $1,000,000 USD plus interest and costs of indebtedness. The Company filed its answer asserting that not only is the indebtedness not yet due but that the Company is entitled to a court ordered damage award of at least $650,000,000 USD caused by London Mining’s actions and breaches of fiduciary duty related to its joint venture with London Mining in China Global Mining Resources (CGMR).
The Company intends to vigorously assert its rights and remedies to the fullest extent of the law.
The filings can be viewed at: http://pa.courts.state.mn.us/default.aspx
Civil Court Case #: 27--CV-11-24590
About Wits Basin Precious Minerals Inc.
Wits Basin is a minerals exploration and development company. We own title to the past producing gold mine in Colorado known as the Bates-Hunter Mine. We also own a 50% equity interest in China Global Mining Resources (BVI) which owns an iron ore mine and processing plant in China. We do not claim to have any mineral reserves at the Bates-Hunter Mine. Our common stock trades on the pinksheet market under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM- News) visit our website at www.witsbasin.com.
Forward-Looking Statements and Risk Factors
Certain statements included in this press release may constitute 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 relate to Wits Basin and its subsidiaries, and include, among others, the ability to obtain or maintain regulatory approvals; the ability to obtain necessary financing; and other risks and uncertainties described in Wits Basin's filings from time to time with the Securities and Exchange Commission. Wits Basin 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.
WITM news from yesterday
Wits Basin Files Counterclaim Seeking $650,000,000 Of Damages From London Mining
Print
Alert
Wits Basin Precious Mnrls (PN) (USOTC:WITM)
Intraday Stock Chart
Today : Tuesday 17 January 2012
Wits Basin Precious Minerals Inc. (WITM.pk; the “Company”) reports that it has filed an answer and counterclaim to London Mining plc’s (AIM Stock Exchange, London, Symbol: LOND) recently filed action in Hennepin County District Court, Minnesota. London Mining initially filed the subject complaint which was served against the Company on December 19, 2011, seeking the repayment of $1,000,000 USD plus interest and costs of indebtedness. The Company filed its answer asserting that not only is the indebtedness not yet due but that the Company is entitled to a court ordered damage award of at least $650,000,000 USD caused by London Mining’s actions and breaches of fiduciary duty related to its joint venture with London Mining in China Global Mining Resources (CGMR).
The Company intends to vigorously assert its rights and remedies to the fullest extent of the law.
The filings can be viewed at: http://pa.courts.state.mn.us/default.aspx
Civil Court Case #: 27--CV-11-24590
About Wits Basin Precious Minerals Inc.
Wits Basin is a minerals exploration and development company. We own title to the past producing gold mine in Colorado known as the Bates-Hunter Mine. We also own a 50% equity interest in China Global Mining Resources (BVI) which owns an iron ore mine and processing plant in China. We do not claim to have any mineral reserves at the Bates-Hunter Mine. Our common stock trades on the pinksheet market under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM- News) visit our website at www.witsbasin.com.
Forward-Looking Statements and Risk Factors
Certain statements included in this press release may constitute 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 relate to Wits Basin and its subsidiaries, and include, among others, the ability to obtain or maintain regulatory approvals; the ability to obtain necessary financing; and other risks and uncertainties described in Wits Basin's filings from time to time with the Securities and Exchange Commission. Wits Basin 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.
WITM news from yesterday
Wits Basin Files Counterclaim Seeking $650,000,000 Of Damages From London Mining
Print
Alert
Wits Basin Precious Mnrls (PN) (USOTC:WITM)
Intraday Stock Chart
Today : Tuesday 17 January 2012
Wits Basin Precious Minerals Inc. (WITM.pk; the “Company”) reports that it has filed an answer and counterclaim to London Mining plc’s (AIM Stock Exchange, London, Symbol: LOND) recently filed action in Hennepin County District Court, Minnesota. London Mining initially filed the subject complaint which was served against the Company on December 19, 2011, seeking the repayment of $1,000,000 USD plus interest and costs of indebtedness. The Company filed its answer asserting that not only is the indebtedness not yet due but that the Company is entitled to a court ordered damage award of at least $650,000,000 USD caused by London Mining’s actions and breaches of fiduciary duty related to its joint venture with London Mining in China Global Mining Resources (CGMR).
The Company intends to vigorously assert its rights and remedies to the fullest extent of the law.
The filings can be viewed at: http://pa.courts.state.mn.us/default.aspx
Civil Court Case #: 27--CV-11-24590
About Wits Basin Precious Minerals Inc.
Wits Basin is a minerals exploration and development company. We own title to the past producing gold mine in Colorado known as the Bates-Hunter Mine. We also own a 50% equity interest in China Global Mining Resources (BVI) which owns an iron ore mine and processing plant in China. We do not claim to have any mineral reserves at the Bates-Hunter Mine. Our common stock trades on the pinksheet market under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM- News) visit our website at www.witsbasin.com.
Forward-Looking Statements and Risk Factors
Certain statements included in this press release may constitute 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 relate to Wits Basin and its subsidiaries, and include, among others, the ability to obtain or maintain regulatory approvals; the ability to obtain necessary financing; and other risks and uncertainties described in Wits Basin's filings from time to time with the Securities and Exchange Commission. Wits Basin 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.
LOND doesnt come up under my fidelity account. but it does show when i use google financials. i think its british pence
Wits Basin Files Counterclaim Seeking $650,000,000 Of Damages From London Mining
Print
Alert
Wits Basin Precious Mnrls (PN) (USOTC:WITM)
Intraday Stock Chart
Today : Tuesday 17 January 2012
Wits Basin Precious Minerals Inc. (WITM.pk; the “Company”) reports that it has filed an answer and counterclaim to London Mining plc’s (AIM Stock Exchange, London, Symbol: LOND) recently filed action in Hennepin County District Court, Minnesota. London Mining initially filed the subject complaint which was served against the Company on December 19, 2011, seeking the repayment of $1,000,000 USD plus interest and costs of indebtedness. The Company filed its answer asserting that not only is the indebtedness not yet due but that the Company is entitled to a court ordered damage award of at least $650,000,000 USD caused by London Mining’s actions and breaches of fiduciary duty related to its joint venture with London Mining in China Global Mining Resources (CGMR).
The Company intends to vigorously assert its rights and remedies to the fullest extent of the law.
The filings can be viewed at: http://pa.courts.state.mn.us/default.aspx
Civil Court Case #: 27--CV-11-24590
About Wits Basin Precious Minerals Inc.
Wits Basin is a minerals exploration and development company. We own title to the past producing gold mine in Colorado known as the Bates-Hunter Mine. We also own a 50% equity interest in China Global Mining Resources (BVI) which owns an iron ore mine and processing plant in China. We do not claim to have any mineral reserves at the Bates-Hunter Mine. Our common stock trades on the pinksheet market under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM- News) visit our website at www.witsbasin.com.
Forward-Looking Statements and Risk Factors
Certain statements included in this press release may constitute 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 relate to Wits Basin and its subsidiaries, and include, among others, the ability to obtain or maintain regulatory approvals; the ability to obtain necessary financing; and other risks and uncertainties described in Wits Basin's filings from time to time with the Securities and Exchange Commission. Wits Basin 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.
WITM crazy news