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Does anyone (other than Nathaniel of course) that thinks that the price could go down when the K is public? Worst thing I could think of would be dilution, but many have been reassured that that is not happening in mass. My thought is that it is all old news. I'll read it but not really interested in the old business. The removal of the stop sign is ultimately my goal. I say we see above $0.05 even on yield.
Any thought that maybe the terms of payment were not established before the audit? Maybe they are paying in shares but due to how long this is taking maybe the auditor wants more or cash versus shares. Or maybe they are trying to negotiate the ability to sell or warrant terms? Just guessing. Thoughts?
Another question...how can my bid which has been in for days not appear as the bid on Level 2? How can that show a lower one? Legal price manipulation? Do I need to call the broker?
Here is a rookie question for all of you. Is there a limit to how much money a MM can pocket on a trade. I mean if I bid $0.03 can he put that out there at $0.029 and then if it fills pocket the difference and do the same on the sell side? Why is this not just an electronic board that only posts transactions that match?
How does your comment have anything to do with Patent valuations? Sounds more like currency issues showing a lower margin. He can't do anything about that and savy investors will understand and not hold that against the company.
I agree with everything except hitting the ask. I know we all want this to go up but I think that should happen on true results rather than just keeping it at the current level. If you hit the ask then you are giving shorts exactly what they want. Make them at least meet in the middle. Personally I am accumulating closer to the stated bid. I want the weak hands out so that the run is much stronger. I love the consolidation at this level. The fact that it took 6 months is frustrating but suggests and even stronger consolidation. The spring is loading if the short volume is growing which we (or at least I) cannot tell for sure.
I would love to see the board ask Rossi to turn over the patents to the organization as part of the common share retirement in exchange for his preferred voting shares. I would love to see those on their books even though the value would be a pure guess.
Does FNHI have a Board or is it just Rossi? I read that in order to uplist they will need an independent Board. He should start this now. Perhaps some on this board might be willing and qualified to participate.
Hoping for another down day to fill my AON GTC order. Please don't pay the ask!!!
Don't pay the ask! Let this one drop so that these shares move to longer term holders versus flippers. There is still plenty of us with extra powder in the keg. When this runs we won't be talking about fractions of a cent. Hopefully we will be talking about nickels or maybe even dimes.
Level 2 is not showing all bids. I have had my GTC bid in since Friday but it is/was not showing. Maybe my small trade isn't enough.
Why give them their ask? I suggest everyone lower their bids to take this down. If we keep giving them their ask then they will keep selling. I'd rather see a larger gap and no trades than give the weak hands their ask.
Been in Boca relaxing this week. Looks like nothing has changed other than some desperate people harassing Rossi. I'm slowly accumulating so I'm perfectly fine with another week or two before the K. I would back the truck up if it goes under 3 but I doubt it at this point.
I'll say 5 following the removal of the stop sign. Probably 10 if we see anywhere close to $5M revs. 15 on the CSE listing. Longer term 20-25 target IMO. I have my doubts about dollar land but if they can grab enough market share then it is possible. GLTA!
I am new to this board. I would like to start accumulating but the 3 month chart looks horrid and I just cannot understand how the last 10Q all of a sudden includes $40M+ in new long term debt with nothing to show on the asset side. I've read the last few months of posts and I am not sure that cleared up any of this. The business is in a head wind though because we need to start spending govt money to reverse the epidemic. I just need a little more confidence in this company before diving in. Plus I would like to figure out what one new clinic means to revenue so that I can gauge future PRs. I need to believe this is a $1B+ company because the share structure is likely headed there fast. A buck might be too optimistic but I could certainly see $0.50.
Can anyone tell me where to find the Extender for sale? I couldn't find it on Amazon, Buy.com or eBay. A general Google search brings back nothing. The company's website does not include distributors. Is this only available in India right now? Thanks
I am 100% that the K will be filed when it is filed. You heard it here first! Lol
The one simple question that I would like to know is if "share price" was a term that was mentioned at all during the meeting. I think that tells us a bit without really telling us anything.
Will the shares that Rossi gets when retiring the common hold any intrinsic value or is that just to give him the majority votes? Retiring common would increase each remaining share value assuming the current MC is justified unless his preferred shares assume that value. In that case it is just a swap, but is there a market for him to sell those shares which could dilute the common?
Is today the day? I woke up with a strange feeling. Very optimistic at the point.
Most likely open down tomorrow since it closed at the low point. Stop losses may soon start to kick in for those that bought above $0.04. I got a small chunk today but hoping for some below $0.03 tomorrow. Should find strong support at $0.03 though. Back when this ran from subpenny there were 10s of millions of shares traded. This is likely profit taking following another run to $0.05. Once most of them get their investments out and a little extra they will likely hold causing a bottom. After that news should launch us over $0.05 again. Holding will depend on sales.
I'm in for a chunk at .034 if we see that again tomorrow...anyone got some for me?
He wouldn't be lying. I mean it is in the audit process and is taking longer than anticipated. Definitely not a lie. I am certain that this will not start the meeting anyway. It will just come up during discussion of long term stability (if at all).
No way I would short this one. I see the potential. Just asking some basic questions for discussion purposes. Where did you see that there are already $5M in PO on hand? I saw that that is his target but didn't see him say it was already on hand.
What makes you think he would not just tell them the same thing that has kept everyone here clinging to hope for the past few months?
Sales calls are far different then IR press releases. The focus will be on inventory and manufacturing capacities. Well and of course price! We are the lowest therefore we should be getting the most interest from retailers. My concern is the ability to continue to meet larger and larger PO.
Please check my DD (and opinions) here. I have only been tracking this one for about a month.
BAD – Delayed 10Q and 10K filings: There are many Stop signs out there in Pennyland. This does not impact the value or potential of the company. It might deter some buyers.
GOOD – Rossi to retire 100M common in exchange for 1M preferred. Reduces float of publically traded shares so any good news causes an increased squeeze. Bad news reacts the same in the opposite direction though. From a valuation perspective this doesn’t really do anything though other than cost the company money to file paperwork.
GOOD – Pending the audit, but it was reported that the company is practically convertible debt free. That means dilution is likely to be minimal over the short term.
GOOD – Listing on the Canadian exchange will open up avenues to additional capital and trigger an agreement that is already in place to provide operating capital.
BAD – The company does not own any patents. This is normally the majority of the book value for pennystocks. Rossi doesn’t get any royalties though, so that isn’t horrible.
GOOD – Alpha Helios provides a solar play into the EV market. I would have liked to see at least a parent pending for this to account it as value though.
BAD – Even with a $5-10M revenue target and the current 18-22% gross margin that $1-2M profit might not cover operating costs. I believe that breakeven is far above that level even with the June PR about decreasing manufacturing costs by 18% which could mean gross margins are now more like 33%. I suppose that is where the $50M target comes into play but not sure of the proposed timeline on that. I did get scared by Note 12 in the last 10K though because it made it sound like Rossi (or maybe one of the other two employees) were being paid millions (albeit in stock) in “service fees” which destroyed the bottomline and diluted the shares from 67M to 222M. I sure hope the next report does not contain a $3M figure like that one.
GOOD – The August 4th meeting…although I cannot find any PR on that topic. If someone can point me to the source of that information I would appreciate it.
Personally, I do not yet own any shares. To me the chart seems to indicate that a $0.03 entry point may be in the future, but for the past month maybe it will hold $0.035. Whether it be $6.6M market cap or $7.7M, I am still looking for a few more pieces before jumping in. I need to believe it will be a $15M+ company before getting wet.
What do folks around here expect to see in the Q/K which would fuel a run?
Looks like my stake in this one is seriously dwindling. Last time I checked in on Bates Hunter is was still under water. If they were serious about getting this mine back into working order they would have fixed the pump or rented another one that can do the job. I had a friend in Colorado drive by the site and he said there is no activity there at all. I'm not sure what to think of this one.
As far as Standard Gold goes, why did the company distribute shares to stakeholders of WITM? How can one publically traded company own 96% of another publically traded company? I guess the good side of this is that WITM now has two avenues to raise funding.
Anyone have any words of wisdom on this one? I'm only holding because the price is too low at this point. I know, famous last words...
Does anyone know if the shares issued when a warrant is exercised are able to be sold on the open market immediately or is there any restriction window? I dug into the number of shares issued over the past few months and uncovered a large chunk issued to someone following a fully executed warrant. I like the fact that that large warrant is no longer looming over us, but just worried about that guy dumping right away. I figured his average entrance price was around $0.065 so he is making a killing. Either way I'm in at an average price of about $0.20 and looking for much more to come. Thanks!
$0.34 is filling quickly. I let a couple go to get most of my initial investment out, so I'll ride the rest all the way. Hopefully all the way to $1 versus back to $0.10. Someone on another board predicted $0.40 by the end of the week. At this rate that is a definite possibility. No one knows exactly why it is moving now. I think it has something to do with several previous PR's stating that the trial results would be out this summer, but that was before the start was delayed. This one appears to be a really solid bet right now because current funding is in place and the storyline adds up. Increasingly harder to run a scam when government grant money is involved. Not that I have any experience in that area. Good luck to all.
Two more days over 2 million volume and we could breach the $0.30 range again. This must be fueled by the advertising that GeoVax is one of only 5 organizations that have made it this far along the research trail. I wonder what kind of reporting schedule these trials have. Are there points along the process that preliminary results are typically measured and able to be reported. My biggest winning point is the fact that funding is already in place for the current operating needs. That's not to say that they won't run out of funding next year, but at least toxic saturation is staved off for the time being. I own a small chunk of this one and I'm not going anywhere south of $0.30.
All this movement and not a single post? Did everyone go away? Is this just accumulation with limited selling or does someone know something?
I have been in this one for awhile (over a year). I was a little disappointed when prior trial plans did not occur earlier last summer, but I was pretty certain this one held tremendous potential, but it was just a matter of time. Then the market kept getting worse and even good stocks were driven down. I'm glad to see that we have another pulse in this one. I'm hoping for clear plans announced tomorrow on what the rest of this year holds as far as the trials. This one really doesn't have to show much and we could run. Last time I checked the funding was available for these trials. Anyone aware of anything to the contrary?
I've been waiting on this one for several months. Since November in fact. Glad to see it is finally getting the $$$ interest it deserves. I'm expecting $0.50 by late summer and hopefully $1 by the end of the year (pending positive progress in testing of course). The sky is the limit as far as the test results go, but for now I am just basing estimates on the movement into the testing phase coupled with past events vs price movements.
My guess would be that if there are signs of positive testing results then GOVX will be gobbled up by a larger pharma firm (hopefully at a healthy premium). Right now they could get it for about $200M, but just imagine what it will bring post-Phase2!!!!
Good luck all.
Not much talk on here. I just picked up a piece of the action today and looking to accumulate below $0.25. The 8K from Nov 2nd is not exactly positive but the company should be able to recoup the costs of the financing in court, unfortunately they will probably need to raise some emergency funds to get through that process.
I'm targeting another run in the 2nd QTR of 2008 as more details on the next trial get publicized. We should see $0.35 again at that time and depending on the results of the current trials we may head to $0.50 again.
I'll be curious to see how they replace this funding stream. Any thoughts?
My old board looks much better now...
You guys have done a great job. I have owned this company for over 3 years. I had been trading it on and off and was delightfully loaded up when the last ran really took off. Over $1 I unloaded quite a bit though because I was worried that it went up too fast, but now I am not so sure. I'm holding the rest to see what comes of the latest news. I believe it is fairly priced at $1 with the current news. With the news that I think we will get once things finalize in China then I believe we should see a steady move towards $2. I'm just not sure how long the process will take.
I went through a divorce and had to move out of Colorado or I would make the drive up to Blackhawk and check out the site. There is great potential in the Bates Hunter Mine. My impression is that management consists of intelligent business men and a qualified qeological expert. If you are looking for a company that will mine the resources I think you have come to the wrong place though. They are in the business of buying undervalued land with high resource content, taking samples of the ground in order to determine the full value of the land and then package the deal and sell it to the bigger mining firms.
What appeals most to me is that they have so many potentials out there that with some decent funding they can really draw some interest of investors. I love Wits Basin, the Mexican mine is the closest of all to be in production and then resold, the South Africa deal is a long way off but potentially the richest land, and now the China deal could open so many new doors. If it gets quiet for awhile and the stock lags I'll be looking to get back in, but for now I am just along for the ride. Good luck everyone.
Wits Basin PR
Wits Basin Announces Business Development Update
Monday January 22, 9:11 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) provides the following information regarding the development of its business.
Quarterly Milestone Achievements
First Quarter:
• Dr. Clyde Smith becomes an outside consultant to the Company
• The Bates-Hunter Gold Project, Colorado, assay results help to confirm data from historical records
Second Quarter:
• Wits Basin has warrants exercised, resulting in gross proceeds of approximately $3.9M
• The Company began its due diligence, required to be completed by June 30, 2006, for the Vianey Silver-Lead-Zinc Project, Mexico
• Vianey due diligence completed and option to earn up to 50% of project acquired on June 28, 2006
Third Quarter:
• Purchase agreement for the Bates-Hunter Gold Project using a "cash-flow" mortgage announced
• Bates-Hunter surface drill program underway
• Dr. Clyde Smith is appointed the President of the Company
Fourth Quarter
• "New Order" five-year permit issued by government for the Wits Basin-AfriOre International Ltd. joint venture on the FSC Gold Project, South Africa
• Wits Basin earns initial 25% of Vianey Project
• Vianey assay results released
• Wits Basin announces Memorandum of Understanding (MOU) for merger discussions with EasyKnit (EK) Enterprises, Hong Kong
As we continue to move forward in 2007 our operating focus will be on three projects and the MOU discussions with EK will be fully explored.
The important work to be accomplished by the commencement of the surface drilling at the Bates-Hunter Gold Project is underway. We see the value creation at this project being developed as follows:
1. The search for a significant gold ore body is the purpose of the surface deep drilling program now in progress. Over 2,000 feet of an 8,000 foot drill program have been completed. The drillers returned to the site the second week of January after a three-week holiday break.
2. De-watering and rehabilitation of the mine will allow for an underground drilling program that will test additional veins adjacent to the Bates Vein.
3. If gold ore reserves are located in adjacent veins, early production could follow.
4. Discovery of significant gold ore bodies could attract a major company partner or buyer of this asset.
5. Other local area property opportunities will be explored as they develop.
6. Mutually agreed closing date extension till May 31, 2007 to allow increased water treatment benefits for our property and the surrounding area.
On the Vianey Silver-Lead-Zinc Project, drilling for phase one has recently been completed and mine re-habilitation work is underway to create conditions needed for additional exploration, development and potential production. The phase one core drilling assay reports are being finalized by Rodney Blakestad, the project Consulting Geologist, and will then be reviewed by Dr. Smith. These reports are expected to be released in the near term. The Phase two underground drilling is planned to be underway with a target date of completion prior to September 2007. Wits Basin intends to exercise its option to acquire the next 25% of its joint venture with Journey Resources Corp. of Vancouver, B.C., bringing its ownership to 50%.
The FSC Gold Project in South Africa is now preparing for drilling. With the announced sale of our joint venture partner, AfriOre, we are in discussions with the planned new partner to determine timing and next steps to earn our additional 15% through the next phase of exploration drilling.
MOU with EasyKnit
Three company directors are currently en route to Hong Kong to meet with the board of EasyKnit Enterprises to discuss the terms of the potential merger. Wits Basin has engaged the services of Troutman Sanders, an Atlanta-based law firm with Hong Kong offices, to be special counsel for the purpose of reviewing any and all needed steps to completing a merger. We expect to complete this trip on or about February 5, 2007.
Liquidity Sources and Capital Needs
From the end of the 3rd Quarter until now, the company has collected proceeds from warrant exercises of approximately $1,000,000 and has commitments for approximately $600,000 more. There have been expressions of intent to exercise an additional $1,200,000 of warrants (not yet registered) in the first half of 2007. Unused project related standby financing remains at $1,000,000.
Our current immediate project payments planned during the 1st and 2nd quarter will include $500,000 for FSC, $400,000 for Vianey and an estimated $575,000 for Bates-Hunter. Corporate expenses for the 1st and 2nd quarter are estimated to be $400,000.
The Company believes the above described sources of liquidity will be sufficient to fund operations through the end of the 2nd quarter 2007 without raising capital.
Wits Basin PR
Wits Basin Announces Acquisition of First 25 Percent of Vianey Silver-Lead-Zinc Mine
Tuesday December 19, 7:19 am ET
MINNEAPOLIS, Dec. 19, 2006 (PRIME NEWSWIRE) -- Wits Basin Precious Minerals Inc. (OTC BB:WITM.OB - News) is pleased to announce it has paid for and earned the ownership of the first 25% of the Joint Venture with Journey Resources in the Vianey Silver-Lead-Zinc Mine. Wits Basin retains the right to earn an additional 25% through September 30, 2007. Wits Basin intends to exercise that right on an accelerated basis.
Vance White, Chairman states: ``Jack Bal and his team have done a great job delivering this excellent opportunity to the market and have created tremendous value for both companies' shareholders. We look forward to a bright and prosperous future working on this property with Journey.''
Wits Basin PR
Recent Assay Results Confirm High-Grade Silver-Lead-Zinc At Vianey
Friday December 15, 7:15 am ET
MINNEAPOLIS, Dec. 15, 2006 (PRIME NEWSWIRE) -- Wits Basin Precious Minerals Inc. (OTC BB:WITM.OB - News) has recently received assay results from its joint venture partner Journey Resources Corp. that confirm high-grade silver-lead-zinc potential on its Vianey Project, Guerrero State, Mexico. The assay results are attached as Exhibit A.
Although sample details are pending, eight selected samples from veins exposed on surface assayed in the following ranges: 8.7-147.9 ounces per tonne (opt) silver (Ag), 3.2-17.9% lead (Pb), 1.5-22.2% zinc (Zn). At current metal prices, these eight samples have an average calculated gross value in excess of $1,400 per metric tonne.
In addition, although sample location details are pending, six selected samples from the -75 meter level of the Vianey Mine assayed in the following ranges: 3.3-67.5 ounces per tonne (opt) silver (Ag), 1.8-27.1% lead (Pb), 3.5-25.5% zinc (Zn). At current metal prices, these six samples have an average calculated gross value in excess of $600 per metric tonne.
These assay results are significantly higher than the previously announced average grade of the current resource of 345,020 metric tonnes grading 8.6 ounces per tonne (opt) silver (Ag), 2.1% lead (Pb), 3.6% zinc (Zn). At current metal prices this resource has a calculated gross value in excess of $300 per metric tonne.
Wits Basin management believes these recent assay results are extremely encouraging. It is notable that these new results provide confirmation for the high-grade assays announced in the Company's news release of December 4. This news release reported on assay results from the -75 meter level of the Vianey Mine that calculated gross values at current metal prices in excess of $1,000 per metric tonne.
Please see Exhibit A, which can be found at: http://media.primezone.com/cache/5545/file/3539.xls
My Summary of the CC
Spoke about 5 points...
1. FSC Project South Africa - Will require $1.4M addiitonal funds to purchase the additional 15% to increase WITM position to 50%. They should know more by Christmas with a final decision made in January. They have drilled two holes already which did not hit the target. Next hole planned to be start no later then February. Bullish sentiment on next hole as they begin to narrow in on the ore body location. Will require two additional holes in order to fully understand the resources in the ore body.
2. Bates Hunter Colorado - Surface drilling underway. They completed the first hole down to 2025 feet with significant difficulties along the way. Due to these difficulties they missed their two targets. The second hole is started and is around the 300 foot level currently. Samples are on their way to the lab. Dewatering still in progress around the 305 foot level. The 330 foot level offers more potential for some underground drilling but this is not the most efficient means of determining the resources of the property.
3. Vianney Mine Mexico - During last visit they discovered newer reports dated in 2000 that showed more recent drill intersects and assay reports (described in detail in the Dec 4th PR). The deeper the samples the higher the grades. Potential at the 75 foot level is for $1200/ton revenue. Have sent some samples on their way to the lab. Clyde sees potential for gold below the Silver-Zinc-Lead mine which was not mentioned before. This may be why this property was selected as the new project. Should be a report out on the mill capabilities in that area within the next few days. Overall potential was quoted at $200 net per ton after expenses ($300 - $100 costs) with up to 90,000 tons per year comes to about $18M in revenues.
4. Capital Sources - $3M in warrants are in the money. $0.5M already executed. $2.4M in $0.25 warrants expires this month. That is likely to blame for the recent dip. Company has access to $4.5M in cash through warrants and open credit lines for 2007 with a requirement of about $3.5M in cash for the year. So we appear to be adequately funded for current projects.
5. Hong Kong Easy Knit Merger - Easy Knit has $20-25M in assets with $14M in cash/real estate. They are currently trying to dispose of their interests in the textile industry so I'd expect some write down of those assets as they liquidate. The provides WITM access to the Hong Kong exchange for additional liquity and capital. Not yet sure how the share structure will look post merger but that is not expected until this time next year. Potential for move to AMEX following this merger. Easy Knit market cap about $550M versus WITM $29.2M market cap. More then likely we merge into them and rename the company.
These are my words and not their so please listen to the conference call for exact quotes. This is just my opinion and impression of the conference call. All in all this is about what I expected to hear and think this is a great idea to have regular conference calls to keep their investors informed. Management appears to be focused on building shareholder value which is unique in stocks under $1. IMO we will see a momentary dip in the stock as some warrants are executed and then dumped. Typically I have seen this happen where the price never really goes down as far as the warrant price because not all investors sell. So a drop to about $0.30 would be reasonable. I'll probably pick up some more shares at anything below $0.30 though. I don't expect much news over the holidays, but in January and February I expect them to crank up the action and the stock price should move along with that. My price target for next year is definitely over $0.50 but closer to $0.75 with a potential for $1 if they are successful in any of these three main projects and/or if a China project comes into play. Again just my estimates please do your own DD and come up with your own. I welcome and feedback from my assessment. Good luck to all.
IMO the merger simply means that WITM will have access to grow into China. The down side is that it might mean more outstanding shares, but when investors realize the untapped resources that this may give WITM access to in China it should build more value then the dilution takes away. Ok, so to recap we have progress in Mexico assay studies that look very positive for Silver, we have surface drilling on going in Colorado, US which should produce some more positive assay finidngs in the near future for Gold, we have scheduled surface drilling to take place in Africa over the next couple of months which could help to identify just how much that property is worth down there, and now we have potential access to China.
I'm holding for now instead of pulling some off the table. I think we shall see a minor retrace of that last little run before the next full leg up. The $0.40 barrier has been tough in the past but a close above that will signal a big move to or over $0.50. I really don't think a $1 price target it all that unreasonable but I'm not sure on the time frame. Right now I think investors are having trouble putting a value on the reserves that WITM could be sitting on right now and into the future. Right now we are under a $35M company, while there are far too many mineral plays out there with far less potential selling for over $100M. I hope the company follows up with more details on this merger during the conference call on the 12th of December. I'd really like to at least hear the direction which management is leaning for that. IMO it will be a push to get exposure in a China mine, which should be enough to get us moving. Good luck to us all.
We should get a 15-20% bounce on the results of these recent samples. Based on how long this has taken in the past I would give it at least two weeks though before expecting to see these results. Before then though we may see the higher level smaple results based on what was said in the investors conference call. I can hardly wait for the first assay results from South Africa but this is enough to hold me over for now.
Wits Basin PR
Wits Basin Reports on Drilling Progress in Colorado
Thursday November 2, 10:14 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc., (OTCBB:WITM - News) is pleased to report the following information provided by Dr. Clyde Smith, President of Wits Basin, "The initial diamond drill hole of Wits Basin's surface drill program on the Bates-Hunter Gold Project is currently at a depth of 1,355 feet. The hole is planned for a depth of approximately 2,000 feet. Intermittent veins, stockworks, and alteration have been intersected between 1,072 and 1,161 feet; samples from this interval will be sent for assay. Results will be reported when received. Wits Basin has contracted for a minimum of 8,000 feet of surface diamond drilling."