Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
8/7/2008
AIM Global Announces Availability of Quality Guidelines for Tire RFID
The use of RFID with tires presents extreme challenges for both design and manufacturing quality. Including RFID into tire manufacturing requires surviving conditions of high heat and pressure. In everyday use, tires flex constantly and are subjected to extremes of heat and cold. What's more, tires contain carbon which can significantly affect RF signals.
AIM Global, the trade association recognized as the worldwide authority on automatic identification and mobility, announced the public availability of AIM Global RFID Guideline REG 396: RFID chips and transponders — Verification and qualification of design and manufacture — Part I: Tires. This was developed by its RFID Experts Group (REG).
This guideline targets item level tagging where the RFID tag may be present in various formats, including a label, incorporated into a patch which then becomes permanently affixed to the inner or outer surface of a tire, or incorporated during manufacture into the structure of the tire as an integral part of the tire. The guideline is intended to be used as an aid to the manufacturer, the consumer, and the general public.
Tag quality is important for all industries and applications. These guidelines will help the tire industry evaluate or develop RFID tags -- particularly those operating in the UHF range -- that can perform reliably under a wide range of conditions. The use of RFID for tires will help address the increasing demand to identify and track tires for various applications for the life of the tire. Additionally, the ability to identify individual tires on large commercial vehicles helps operators maintain these tires and provides additional safety for equipment operators and the general public.
The document has been offered to ISO/IEC JTC-1 as a component of a new Draft Technical Report on RFID Quality.
http://www.arcweb.com/Domains/SCM/Lists/Posts/Post.aspx?List=7ae600da%2D7f89%2D41bb%2D8e5d%2D9838766ca24a&ID=100&RootFolder=%2FDomains%2FSCM%2FLists%2FPosts
REG completes verification procedures for RFID for tires
...from 3 days ago...appears to be huge! Just a matter of time imo....
http://www.rfidnews.org/2008/08/05/reg-completes-verification-rfid-for-tires
------------------------------------------
Tuesday, August 5, 2008
AIM Global, a trade association and authority on automatic identification and mobility, has announced the availability of new guidelines for verification and qualification of design for RFID chips and transponders in tires. The guidelines were put together by the RFID Experts Group and are expected to help the entire industry in developing new RFID technology to be used with tires.
The new guidelines are intended to serve and inform the manufacturers and consumers about RFID tags in tires which specifically entails item level tagging. Item level tagging can take place in many different formats such as an RFID label that is incorporated into a patch which is then permanently attached to either the inner or outer surface of a tire; additionally the RFID tag may be included in the manufacturing of the tire to be built into the structure of the tire itself.
The industry is expecting these new guidelines to assist in meeting the increasing demand for RFID tire tracking. Tire tracking will allow for someone to more easily track the tire for a number of purposes including the life of it. As well, tracking these tires is expected to help commercial vehicles better track the safety of their tires.
New Zealand Study Finds UHF Superior for Livestock Tracking
...this is from about 1 1/2 weeks ago...I don't know if you guys posted it already...looks promising!
http://www.rfidjournal.com/article/articleview/4218/1/1/
-----------------------------------
Researchers with the RFID Pathfinder Group report that EPC RFID tags performed better and more cost-effectively compared with traditional low-frequency tags.
By Dave Friedlos
July 29, 2008—The RFID Pathfinder Group a New Zealand organization that promotes the adoption of Electronic Product Code (EPC) standards, indicates that preliminary trials of ultrahigh-frequency (UHF) RFID tags showed them to be more efficient and cost-effective for tracking livestock than traditional low-frequency (LF) tags. UHF tags, the researchers found, resulted in greater speed, accuracy and reliability when tracking deer, sheep or cattle.
The group has called for further testing to determine whether UHF tags should be employed instead of the LF tags mandated by the National Animal Identification and Tracing (NAIT) project, set up by the government to improve livestock traceability. However, NAIT project manager Craig Purcell says his organization plans to push ahead with LF tags because the technology has been proven and is currently used to track livestock worldwide. Nonetheless, he adds, once UHF RFID's effectiveness for tracking livestock is well confirmed, NAIT intends to welcome the use of ultrahigh-frequency tags by farmers.
The New Zealand government recently allocated more than NZ$23 million (US$17 million) for a system that aims to have all cattle and deer tagged with radio frequency identification transponders by 2011 (see New Zealand's National Cattle ID Project Gets $23 Million). Farmers, saleyards and meat processors will be legally mandated to tag deer and cattle with LF HDX or FDX tags, linked to a database containing details of the animals and their movements.
But the Pathfinder Group's chairman, Alan Mayo, argues that if NAIT does not consider the use of UHF tags, the New Zealand livestock industry could miss out on substantial benefits in operational efficiency and cost reduction. "The trials concluded that it is technically feasible to track livestock using UHF," Mayo states, "and that it is beneficial in two key areas. The first is cost—UHF tags are cheaper than LF tags, and the cost is coming down even further as the technology matures and heads towards mainstream adoption."
The RFID Pathfinder Group recently published the results in a report entitled "RFID Technical Study: The Application of UHF RFID Technology to Animal Ear Tagging in Deer, Sheep and Cattle Farming."
The researchers tested two UHF RFID ear tags: One was a button tag tuned to operate at 866 MHz; the other was a hangtag operating at 860 to 960 MHz. Both types complied with the EPC Gen 2 standard. According to Mayo, the performance of the 866 MHz UHF tags was superior to that of the LF tags, with almost 100 percent readability of tags for specific reader antenna layouts, under conditions far exceeding current NAIT requirements.
During the trials, Mayo says, the researchers were able to read hundreds of UHF tags per second at distances of 1.5 to 2 meters (5 to 6.6 feet). LF RFID interrogators, which operate at 125 or 134 kHz, can generally read only one tag at a time, from distances of just centimeters.
"Animals like deer often run through gateways at high speed and in dense packs, but we were still able to detect the tags using UHF," Mayo says. "You can get close to 100 percent readability with LF tags, but the movement of animals must be carefully controlled."
The trials were conducted during April and May of this year at the Totara Hills Deer Farm in Balclutha, and at the Canterbury Meat Packers facility in Ashburton. The Pathfinder Group developed prototype UHF ear tags but used commercially available interrogators and antennas, deployed in several configurations and portals. The trials tested the tags in relation to the speed of the animals' movements, the ability to read multiple tags simultaneously, read ranges and read rates. The tags were also tested under various conditions, including wet-weather simulations.
The results, Mayo says, were impressive. With sheep, half of the 32 test runs resulted in 100 percent tag readability, while another five showed more than 90 percent readability. For cattle, four of the 11 test runs resulted in 100 percent readability, while four of the 13 test runs for deer registered 100 percent readability. "I think we have shown clear reasons why UHF technology should be investigated further, including price and performance," Mayo says. "It makes sense to look at new technology as it develops, in order to generate the most benefits from RFID."
The Pathfinder Group recommended further testing of UHF tags, including tags operating in both RF bands allocated for RFID use in New Zealand (864 to 868 MHz and 921 to 929 MHz), under all weather conditions, with larger test sample sizes and in other applications, such as saleyards.
According to Mayo, the group hopes to work with NAIT to determine if it can take the next step with UHF—from feasibility to proven technology and, eventually, to commercial rollout. However, Purcell says, NAIT does not have the authority to invest in research and development. "Our mandate is to develop and deploy an LF-based tracking system," he explains, "and Pathfinder will have to find other organizations to invest in research into UHF tags. But we do support investigation into enhancements of RFID technology."
Purcell acknowledges that the trials showed promising results. Pathfinder, he says, appears to have overcome past problems, such as water in animals affecting read rates, and the trial demonstrated good readability at fast rates. The group "cracked the challenges of using UHF tags to track livestock," he notes, adding that the next step would be to develop an end-to-end system.
"They need to develop a full RFID infrastructure, including tags, readers and hardware, but that is most likely to be years away," Purcell says. "NAIT does not have the luxury to put our plans on hold until that develops. LF is the standard because we know we can operate a tracking system successfully and have seen it happen around the world. We are not aware of a national system using UHF."
Purcell notes, however, that the system being developed by NAIT is "technology-neutral" and could, therefore, receive information in various ways. If UHF technology is proven in livestock tracking, he says, farmers could begin using UHF tags. "It is not an either-or situation—we could always run LF and UHF tags together without throwing the old system out," he states. "We are very interested in new technology and would be crazy not to be aware of what is around the corner."
Probably the best method is to feign ignorance--just an inquiring customer who'd heard about the RFID chips--and just by chance provide them with enough information to pique their interest.
Could such a plan have negative unintended consequences? What if store managers became suspicious or annoyed?
thanx--I hadn't read that post. I appreciate it
Hi guys. What is a "Notice of Effectiveness". I don't recall seeing that anywhere before. TIA
http://www.sec.gov/cgi-bin/browse-edgar?company=advanced+id&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany
What was the name of your show on WBIX?
QMNM chart
looks like we're in for a strong start
QMNM chart
on news of production, do you guys see a massive one day spike or a multiday run. and how high do you think we go?
once production begins, what do you think would be a fair valuation?
"Next month all hell will break loose.!!"
please explain, hawaii
GSPG breakout from cup and handle
NTDL chart
NTDL moving today on news
NTDL chart
NTDL lift off on news
NTDL chart
NTDL chart
NTDL chart
super info--thanks!
Honeywell Develops New Materials to Reduce Costs, Improve Performance of Flat Panel Displays
Tuesday July 17, 11:00 am ET
TEMPE, Ariz., July 17 /PRNewswire/ -- Honeywell (NYSE: HON - News) Electronic Materials today announced that it has launched new materials for the production of flat panel displays aimed at reducing manufacturing costs and power consumption while improving color uniformity and device lifespan.
ADVERTISEMENT
The materials were developed through a project announced last year with the United States Display Consortium (USDC), a public-private partnership chartered with developing the supply chain for the flat panel display industry, and in collaboration with the Flexible Display Center at Arizona State University (ASU FDC), an industry-government-academic collaborative venture focused on developing advanced high information content flexible displays and associated materials and manufacturing technology.
Honeywell's material enhances the amount of visible light that passes through the display while only absorbing less than 1 percent of the light. In addition, Honeywell's material achieves smoothness, also known in the industry as planarity, in excess of 90 percent. As a result, the color uniformity of the display is improved. Additionally, initial manufacturing results, supported by operational models, show cost of ownership decreased by 10 percent or greater.
"Honeywell was able to leverage its existing technology and experience used in semiconductor material production in a way that addresses critical challenges facing the flat panel display industry," said Peter Smith, display business director for Honeywell Specialty Materials. "Our collaboration with the USDC and ASU's FDC Pilot Line Team has led to a new offering will help drive industry growth by making displays more rugged and cheaper to manufacture."
The new materials are specifically focused on overcoming the challenges of planarization, or smoothing, encountered in fabricating thin film transistors for flexible display applications, long a focus of the USDC members and technical council.
Thin film transistors are a critical component of flat panel displays, which are commonly used in notebook and laptop computers. Flat panel displays are comprised of an array of pixels which together create an image on the display. Thin-film transistors act as switches to individually turn each pixel on or off. Planarization is critical for creating the uniformly flat surfaces necessary during the production of these transistors.
The new materials address planarization in order to enable flexible displays to realize their promise of information displays that are ultrathin, lightweight, and intrinsically rugged. The materials improve manufacturability in terms of both costs and yields, and the improved product performance results in a better viewing experience with the resulting display.
Honeywell is a recognized leader in the development of planarizing materials, mainly used for the production of integrated circuits in the semiconductor industry. That extensive experience was the key in developing these new materials.
Leveraging this progress, Honeywell is actively engaged with traditional display manufacturers as well as the developers of the new generation transistor technologies.
The project was funded under DARPA grant MDA972-93-2-0014 and managed by the Army Research Lab and USDC as an activity under the Flexible Displays Initiative.
Honeywell Electronic Materials is a global leader in the supply of innovative materials to the semiconductor industry, providing solutions to our customers' manufacturing challenges. Honeywell's expertise in both chemistry and metallurgy and commitment to disciplined quality processes enable the development of superior, cutting-edge technologies that are now being introduced to the flat panel display, photovoltaic and printable electronics marketplaces. More information can be found at http://www.honeywell.com/em/.
Honeywell International is a $33 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit http://www.honeywell.com.
This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Source: Honeywell
anyone have good insight when the honeywell branded products come out?
according to doug of the signature fund, who owns a position, and posts on Yahoo as alfie, a minority of ek shareholders oppose the merger and have 300 million shares with which to drive down the pps, thereby possibly nixing the merger.
0616 stock fell to equal the dilution of the merger. My back of envelope calc came up with 1.51HK yesterday as the dilution value. No need to whine Wit's has a value of $4.04 US per share with 0616 at 1.50hk.
Rate it:
pinkeyepete2
--------------------------------------------------------------------------------
View Messages
Ignore User
Report Abuse
View: Simple | Summary | Expanded
As: Threaded | Msg List
WITM news..............
Wits Basin Provides Merger Update Information
Wednesday July 18, 7:18 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to announce that the Hong Kong Securities and Futures Commission has confirmed that the holders of record of Wits Basin shares will not be required to make a mandatory offer under the Hong Kong Code of Takeovers and Mergers to purchase all of the shares of Easyknit Enterprise Holdings Limited (SEHK:616 - News) as a result of, or in connection with, the proposed merger with Easyknit. The Hong Kong Securities and Futures Commission's confirmation satisfies a key condition for the merger.
ADVERTISEMENT
Easyknit Enterprises issued an announcement in Hong Kong on the merger on July 17, 2007. Trading of Easyknit Enterprises shares on the Hong Kong Stock Exchange resumed on July 18, 2007.
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 "SEC"). 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.
This press release does not constitute an offer to exchange or sell or an offer to exchange or buy any securities. This document may be deemed to be solicitation material in respect of the proposed merger of Wits Basin and Easyknit.
An offer of securities in the United States pursuant to a business combination transaction will only be made through a prospectus which is part of an effective registration statement filed with the SEC. In connection with the proposed transaction, Easyknit will file a registration statement on Form F-4, which will include a proxy statement of Wits Basin that also constitutes a prospectus of Easyknit, and other documents with the SEC. Shareholders of Wits Basin are encouraged to read the definitive registration statement on Form F-4 and any other relevant documents filed or that will be filed with the SEC, including the definitive proxy statement/prospectus that will be part of the definitive registration statement on Form F-4, as they become available because they contain or will contain important information about the proposed merger. The final proxy statement/prospectus will be mailed to shareholders of Wits Basin. Investors and security holders will be able to obtain the documents free of charge at the SEC's web site, www.sec.gov, or from Wits Basin's Investor Relations at Lighthouse Communications (866) 739-0390 or info@lhcom.bz.
Participants in Solicitation
Wits Basin and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Wits Basin in connection with the proposed merger. Information about the directors and executive officers of Wits Basin and their ownership of Wits Basin common stock is set forth in its Annual Report on Form 10-KSB, as filed with the SEC on April 16, 2007. Additional information regarding the interests of such participants may be obtained by reading the registration statement on Form F-4 and proxy statement/prospectus when it becomes available.
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
--------------------------------------------------------------------------------
Source: Wits Basin Precious Minerals Inc.
WITM news................
Wits Basin Provides Merger Update Information
Wednesday July 18, 7:18 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to announce that the Hong Kong Securities and Futures Commission has confirmed that the holders of record of Wits Basin shares will not be required to make a mandatory offer under the Hong Kong Code of Takeovers and Mergers to purchase all of the shares of Easyknit Enterprise Holdings Limited (SEHK:616 - News) as a result of, or in connection with, the proposed merger with Easyknit. The Hong Kong Securities and Futures Commission's confirmation satisfies a key condition for the merger.
ADVERTISEMENT
Easyknit Enterprises issued an announcement in Hong Kong on the merger on July 17, 2007. Trading of Easyknit Enterprises shares on the Hong Kong Stock Exchange resumed on July 18, 2007.
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 "SEC"). 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.
This press release does not constitute an offer to exchange or sell or an offer to exchange or buy any securities. This document may be deemed to be solicitation material in respect of the proposed merger of Wits Basin and Easyknit.
An offer of securities in the United States pursuant to a business combination transaction will only be made through a prospectus which is part of an effective registration statement filed with the SEC. In connection with the proposed transaction, Easyknit will file a registration statement on Form F-4, which will include a proxy statement of Wits Basin that also constitutes a prospectus of Easyknit, and other documents with the SEC. Shareholders of Wits Basin are encouraged to read the definitive registration statement on Form F-4 and any other relevant documents filed or that will be filed with the SEC, including the definitive proxy statement/prospectus that will be part of the definitive registration statement on Form F-4, as they become available because they contain or will contain important information about the proposed merger. The final proxy statement/prospectus will be mailed to shareholders of Wits Basin. Investors and security holders will be able to obtain the documents free of charge at the SEC's web site, www.sec.gov, or from Wits Basin's Investor Relations at Lighthouse Communications (866) 739-0390 or info@lhcom.bz.
Participants in Solicitation
Wits Basin and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Wits Basin in connection with the proposed merger. Information about the directors and executive officers of Wits Basin and their ownership of Wits Basin common stock is set forth in its Annual Report on Form 10-KSB, as filed with the SEC on April 16, 2007. Additional information regarding the interests of such participants may be obtained by reading the registration statement on Form F-4 and proxy statement/prospectus when it becomes available.
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
--------------------------------------------------------------------------------
Source: Wits Basin Precious Minerals Inc.
Wits Basin Provides Merger Update Information
Wednesday July 18, 7:18 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to announce that the Hong Kong Securities and Futures Commission has confirmed that the holders of record of Wits Basin shares will not be required to make a mandatory offer under the Hong Kong Code of Takeovers and Mergers to purchase all of the shares of Easyknit Enterprise Holdings Limited (SEHK:616 - News) as a result of, or in connection with, the proposed merger with Easyknit. The Hong Kong Securities and Futures Commission's confirmation satisfies a key condition for the merger.
ADVERTISEMENT
Easyknit Enterprises issued an announcement in Hong Kong on the merger on July 17, 2007. Trading of Easyknit Enterprises shares on the Hong Kong Stock Exchange resumed on July 18, 2007.
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 "SEC"). 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.
This press release does not constitute an offer to exchange or sell or an offer to exchange or buy any securities. This document may be deemed to be solicitation material in respect of the proposed merger of Wits Basin and Easyknit.
An offer of securities in the United States pursuant to a business combination transaction will only be made through a prospectus which is part of an effective registration statement filed with the SEC. In connection with the proposed transaction, Easyknit will file a registration statement on Form F-4, which will include a proxy statement of Wits Basin that also constitutes a prospectus of Easyknit, and other documents with the SEC. Shareholders of Wits Basin are encouraged to read the definitive registration statement on Form F-4 and any other relevant documents filed or that will be filed with the SEC, including the definitive proxy statement/prospectus that will be part of the definitive registration statement on Form F-4, as they become available because they contain or will contain important information about the proposed merger. The final proxy statement/prospectus will be mailed to shareholders of Wits Basin. Investors and security holders will be able to obtain the documents free of charge at the SEC's web site, www.sec.gov, or from Wits Basin's Investor Relations at Lighthouse Communications (866) 739-0390 or info@lhcom.bz.
Participants in Solicitation
Wits Basin and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Wits Basin in connection with the proposed merger. Information about the directors and executive officers of Wits Basin and their ownership of Wits Basin common stock is set forth in its Annual Report on Form 10-KSB, as filed with the SEC on April 16, 2007. Additional information regarding the interests of such participants may be obtained by reading the registration statement on Form F-4 and proxy statement/prospectus when it becomes available.
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
--------------------------------------------------------------------------------
Source: Wits Basin Precious Minerals Inc.
Conversion Calculations (Not rated) 18 minutes ago Has anyone done the conversion calc? Can someone check my math?
1) Wits will convert (assuming all shares) into 33,452,863 Enterprise ADSs, with each ADS representing 100 sh of Enterprise, therefore 3,345,286,315 Enterprise sh total.
2) Again assuming all shares including convert notes, options, etc that would be a total of 148,202,507 sh of WITM
3) Thus the converstion rate would be for each share of WITM one would receive (3,345,286,315/148,202,507)=22.57 Enterprise shares
4) So now 1 share of WITM = 22.57 sh Enterprises which is currently trading at $HK 1.8. (7/17)
5) Therefore 1 share of WITM = 22.57*$HK 1.8 (7/17) = $HK40.6
6) Converting back into USD 1$US=7.8$HK,
thus 1 share WITM = $HK40.6/7.8 = $US 5.21
I am not certain that my calcs are right, but if so I'll take 616 at $HK1.8, that means each WITM share = is worth $US 5.21
wait until the PR flow starts IMO--been a very long quiet period while easyknit was suspended awaiting merger approval--might see a PR tomorrow, who knows....
I'm loaded on WITM. Just had to wait forever. Some folks say arbitrage will cause easyknit to slide and WITM to rise until they meet; others say enthusiasm for investment in Chinese minerals will boost easyknit and multiply WITM even further--gotta see what develops--already looks like a tug of war in early trading
hong kong investors like it! even if easyknit holds here, we're talking 6-7 bagger for WITM
glta
1218.hk up around 40% as of now...
http://finance.yahoo.com/q?s=1218.hk
Re: Help (Not rated) 8 minutes ago 1218 act like WITM more than 616,
because 1218 discount 90% like WITM.ob
Rate it:
cdtam12
Online Now
Male
--------------------------------------------------------------------------------
View Messages
Ignore User
Report Abuse
Re: Help (Not rated) 7 minutes ago 1218 own 19.4% of new 616
witm own 46% of new 616
got it, follow 1218, not 616 :))
wooohooooo!!!!!!!!!!!!!!
http://finance.yahoo.com/q?s=0616.hk
uh, guys. when WITM skyrockets tomorrow, you can't say you didn't know... woooohooooo!
http://finance.yahoo.com/q?s=0616.hk
can't wait to see people going huh? what? what's going on? I don't understand!
lol