iHub Mining Sector Entrance Lobby

[YankeeAce]

WITM Wits Basin Precious Metals

Today's PR brought some weakness into the stock, but it is unjustified. The chart is setting up nicely for the next leg up as it just completed its retrace.

They own interests in South Africa, Canada and my favorite in Colorado. The Bates Hunter Mine in Colorado was closed in 1936 when technology limited them to like 800 feet of depth. Today we can go to 2000 feet. The historical assay values have recently been supported by samples. The company is conducting other exploratory drillings to determine parallel veins which could support even a higher value. They are in their DD portion of the acquisition and may purchase the property for $4.6M if studies prove the potential.

They are exploring the acquistion of a 50% stake in a Vianey Mexican Silver Mine from Journey Resources Corp. In speaking with the CEO he believes this will add $0.50 per share of "value" to the company. I beleive he based that one the mine's reserves.

I have created a board on iHub for Wits Basin discussion and invite any gold/mining stock player to join a discussion over there. Thanks.