Wits Basin Precious Minerals (fka WITM)

[YankeeAce]

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...