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News should be out this coming week.
WITM .82x.84 Moving up Fast!!
WITM at .77 will reach over $5 after merger
I must be missing something here. dont know why this is not already much higher.
WITM
Market cap: $ 61.95M
Shares out: 96.80M
EASYKNIT Ent.
Market Cap: 8.56B Hong Kong $'s/ 7.8 = $1.1B US
If the deal goes through WITM shareholders own 43% of merged company. based on that should be about a 10 bagger from here. like i said though, i must be missing something, as the market is usually pretty fast at determining the true value on "real" mergers. (who knows if this is a "real" one???? :D )
WITM merger -- 10-bagger from here!
WITM is exploding on merger news right now.
Now, why is this going to be a TEN-bagger? Because of THIS news!
Wits Basin Updates Current Developments Related to Merger Progress and Acquisition of China Mining Properties
Tuesday February 20, 7:13 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to bring current information to our shareholders relating to the planned merger with Easyknit and potential acquisition of existing cash flow properties in the People's Republic of China ("PRC").
The Planned Merger
In its February 5, 2007 press release, the Company announced its intention to merge with Easyknit Enterprises Holdings Limited pursuant to an exchange of stock. That exchange contemplates granting 21 shares of Easyknit stock for each share of Wits Basin. The actual value of the Easyknit stock to be received by the Wits Basin shareholders will depend upon the Easyknit stock price at the time of closing, as well as the US-Hong Kong dollar exchange rate at that time. The values calculated in the example below assume the Hong Kong market and Easyknit shares remain in their respective values. However, as an example, if the closing had occurred on February 16, 2007, the value could be calculated as follows:
Easyknit shares 21
Easyknit closing price on Hong Kong Stock Exchange on
February 16, 2007(a) x HK$2.170
----------
Total value = HK$45.57
Hong Kong/US conversion rate on February 16, 2007(b) / 7.8124
----------
Price per share of Wits Basin Precious Minerals Inc. in US
Dollars = US$5.83
==========
(a) www.bloomberg.com (b) www.x-rates.com
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.
The Planned Acquisition of PRC Mining Properties
The proposed joint venture with SSC Mandarin Financial Services Ltd (SSC) announced on February 7, 2007, is expected to yield qualified prospects in various PRC mining properties and exploration opportunities including gold, zinc, nickel, iron ore, and bauxite. SSC has taken the members of the Board of Directors and management on site visits to the PRC to review potential candidates for acquisition. Wits Basin Chairman Vance White released the following statement regarding these potential acquisitions:
"Our Company is very grateful for the opportunity to form a joint venture with SSC. Their significant ground work, efforts and relationships in the local PRC markets over the last five or six years helps create an environment where we expect to find some very attractive mining properties in the PRC to acquire. To date, we have investigated at least five projects that appear to meet our criteria, including mining properties that are in production and have positive cash flow. We are starting to carry out in-depth due diligence on these projects."
The SSC and Wits Basin joint venture is not conditional on the merger of Easyknit Enterprises Holdings Limited nor is the merger dependent on the joint venture.
Then why should GBDX merge with WWCD? if u look at WWCD, u can see that this shell changed its business very very often.
Again, why did GBDX go public for? also why did GBDX goes onto pinksheet if they are with such a huge company??
Also, don't u think by now, some ppl (ppl who known about the huge company) would have bought in GBDX already, and that the PPS wouldn't have fall so hard?
when and where pls??
Hey penny_ta, I have always wonder if the chart would work in this stock, cos the day where it exploded was because of the chaos that happened on the day of the ticker change from WWCD to GBDX, most WWCD shareholders weren't able to sell on that day, and the ticker change attracted lots of buyers, which pushed this to a high of 0.07, also as you know, the change of business, wouldn't that make WWCD and GBDX 2 separate charts?? as in they are two different businesses?
Hard to say, but you have to wonder why this stock has changed its business so frequently. Also check out their website, they have mentioned Russian diamond monopoly ALROSA, a paragraph of ALROSA which was copied straight from another website. They didn't say if they have a connection with ALROSA, which is rather odd.
I have told u guys, something is wrong, either some1 is selling all the time (which seems rather odd, especially when you guys are all hyping how good GBDX is, it is connected with huge company and will earns millions and will be the next 10 baggers etc, they still decided to sell...), or the bloody MMs are shorting this heavily almost everyday... (which the company won't do much about, the way i see it, its just that its hard to see them getting a NOBO list or something like that at this stage, remember this ain't CSHD, which ignored its business and focus on fighting shorts since day one)
Guys, I am not here to bash, just to tell what I think, because no way in hell would this tank like this everyday, you guys have been buying so many millions of shares altogether and still the PPS drop??
So how come GBDX is a pinksheet if they are with Russian Diamond Empire Alrosa and the government??? also why do they go public?
Chart works, but GBDX is kinda different, and i dont know how u can use it to predict, cos remember the day it exploded was because of the ticker changed from WWCD to GBDX, which the system was crazy, going from 0.025, 0.03, 0.04, 0.05, 0.06, 0.07. And that ppl bought because of the ticker changed. There have been problems that day.
So i was wondering how could u use chart on this thing??
who said?? just a guess or what??
Right, first of all, ask yourself why did you buy GBDX shares at the first place? Are you seriously investing into this company??
But how is that even possible? Have u got some insider info??
Global Diamond Exchange is a new company, it hasn't even open its shop yet, nor its website which should open today. Based on the little information that we have right now, I don't think any investors can invest based on the company performance or fundamentals, hence I would be surprised to see the company even care about the shareholders right now, as most of these shareholders are from WWCD, probably made a few baggers from the 0.017 range to 0.05-0.07 when the ticker changed from WWCD to GBDX.
So why did you buy the shares at the first place?? If you bought WWCD shares, you should have sold for a few baggers. If you didn't then you are obviously waiting for GBDX to start running, which should hopefully make us another few baggers or possibly more.
One reason though, why people have bought and holding GBDX shares, simply because if this is really a diamond company which have 2 offices in the famous NYC diamond distisct, and that it is important diamonds from Russia, etc. Just ask yourself would the PPS be only 0.028 per share still??
Most of us think not when GBDX is fully up and running by Nov 1st. That's why people think the PPS would explodes and that's why u hold a stock.
Fair enough, if you have other stock picks that u think will make u more money, free feel to sell ur GBDX and put ur money elsewhere, but very likely you are gonna miss an easy few baggers here.
I must admit that these are hard days for us since it drops like 10% a day, but hopefully the pps will go up once there are some good news.
GLTA
Change of business actually means another group of ppl taken over right??? is it like GBDX bought this WWCD shell to go public??
cos if its just change of business from selling food to sell diamonds, that's a bit strange if they are both ran by the same group of ppl...
Hi Ronnie, may i ask when did u first know about Global Diamond Exchange? as in that they have bought the WWCD shell and reverse merge with GBDX??
Cheers
Hey guys, just wondering if there are other diamond company similar to GBDX that went public, trading on the stock market?? and what their PPS??
Many thanks
But it worried me, what if it wasn't just delays for not showing the AF?? I guess that's reasonable...
I made the decision as I know how the PPS will react to that PR. I am right, and I saved myself lossing money, it will cost me a couple of hundred bucks, simply due to the fact that I trusted the company, or whoever that stated 23rd of Sept.
So are you telling me that it is fine for the company to make me lose the money from my own pocket??
WoW, everyone was well pissed over the weekends, because it wasn't released by the 23rd of Sept.
Yes, you are right, I don't care either. I trusted the date of 23rd of Sept, I was really hoping for nice gains, but fine, it didn't come out.
Then the PR comes out stating delays. So fine with me, I sold, and I will buy once the AF comes out.
I have been quick on selling it today right after reading the PR, managed to get out without making any loss. So it would be fine.
But to be really honest, I dont see the AF coming out any time soon. Not bashing, just a guess, based on the 23rd Sept missed, and a PR explaining delays.
OMG, u gotta be kidding me, I got in last week at 0.12, this morning I was in the red, then when it went up to 0.14-0.145, i was really happy, and thought oh yea, the AF is gonna come out today or tmr etc, hence the buying.
But now the company released the PR, and I know for a fact that I had to sell, because the pps will definitely goes below 0.12, the price that i bought.
So i sold once i read the PR as posted by JJ.
If u are pissed, tell ppl stop posting PR so early on this broad, ok?
I would have lost a couple of hundred bucks if I didn't managed to get out at 0.12
And no, i ain't no basher, or bashing, read my previous posts on SLJB, i have been a supporter, and that i was pumping with u guys, comforting others that the AF will comes out today blah blah blah...
But the company itself burst the bubble, so go and blame the company instead of calling others bashers. Its just pointless.
It wasn't me who told the company to release a PR explaining the delays.
I was only responding to Braden as he said "this is good news", when everyone here is pissed. What's the point of pumping it, and saying the PR is good news, wow, read the PR, its delays.
Not that I didn't want to hold, but looks like it will tank for the rest of the day anyway, so I will buy back once their release AF, but not before, not gonna trust any of their promises, until the AF actually comes out.
Good news? what good news?
Just watch the PPS dude, it speaks for itself.
Also blame the company for releasing that PR, pps will tank because of that, and that's why they released it at the end of the trading day, instead of pre-market this morning, cos otherwise, it would be bloodbath.
Nah, face it man, 23rd of Sept missed, everyone is pissed already, now a PR officially confirming AF won't be coming out anytime soon.
So the PPS will tank as everyone sell, stepping onto each other.
Thanks for the PR, so glad that I got out right after reading the PR, it has the word TANKKKKK all over it...
No, the MMs ran it up, and short it at 0.14-0.145 , and with the help of this PR, the PPS will tank like hell cos everyone is selling now.
Only NITE left at 0.145 ASK, other MMs are at 0.15 and 0.20
Simply based on the reason that 23rd of Sept is wrong no matter when the AF comes out now, as it has already gone passed that date. That's completely reasonable.
Based on the buying today, I believe the AF is coming out very very soon, otherwise they could well have tanked this stock eariler today.
GLTA!!!
Yes, this could also be one of the reason. But really, it doesn't matter now, as there is a huge chance that the AF is coming out this week, based on the fact that they still has not released any PR telling us another delay.
Yes, I believe that they have got the AF finished, simply based on the fact that they did not release any PR on Friday or Saturday stating delays or more time is needed etc.
They would have released such a PR explaining the delays on Fri and Sat, instead of leaving it to Monday which just make them look like an idiot.
So no news is good news for us right now.
It was KPMG who requested the 3 days delay, they could well have requested more, say until the end of the month or so, but they didn't. And most of us do believe that PV should've at least releases a PR explaining the delays etc, as some kind of update.
However, they still haven't released one, so I believe either they are trying their best to release the AF on Monday, so there's no need to put out another PR right now.
In other words, I think no PR is actually good news.
I think sooner or later SLJB will have to release something, either the AF, if not, there will always be a PR explaining why not.
Think about it, it would be rather stupid for them not to release either the AF's or a PR explaining it on Monday. Why? simply because they know if they don't, it will cause a panic.
But is that it though? can't they just release it before Monday's open?
Shouldn't they have at least set the date to the end of the month at the first place, instead of indicating the 23rd of Sept?
What if the numbers do come out this week as promised?
We would say, yea bashers won on Saturday, but there are still Sunday and Monday before open, HA!
Remember even the AF doesn't come on Saturday, nobody can panic sell, its weekend remember??
I don't quite understand why u are still bashing this now, either the AF comes out before Monday's open or it doesn't. That determines whether SLJB fly or tank.
So what's ur point of bashing this right now? causing a panic of what? nobody can panic sell until Monday's open...
Or are u just too scared?
So do u think even the AF is released before Monday, it wouldn't help the PPS at all???