Wits Basin Precious Minerals (fka WITM)

[YankeeAce]

I sold about half today. Just afraid that we might have gone up to quickly for some folks. Looking for a Fibinacci retrace or return to the lower bolli to get it all back. Couldn't resist the profits since I have so many other plays that look good right now as well. I still think that this one could run to $2 but I just have my doubts that right now is the time.

Still waiting to see better progress in the de-watering so we can start extraction. I have no doubts that there is gold and silver in the ground there. History supports that enough for me to believe. I just want to see progress towards digging ops. The parallel vein is interesting though, especially since I did not factor that into my initial assessment. Still one must ask themselves, is WITM worth over $30M right now. I think that is a pretty fair price, but only based on potential at this point. Once we start full scale operations it will be worth much more. My estimate is by the end of this year and I am sticking to that for now.