WITM.OB - Gold pennies.

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Merger News.  Good Luck

Wits Basin Executes Definitive Merger Documents
Friday April 20, 7:34 am ET


MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to announce that it has finalized and executed the definitive documents regarding the announced merger with Easyknit Enterprise Holdings Limited (SEHK:616 - News).
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The exchange will grant a minimum of 21 shares of Easyknit for each share of Wits Basin. Any additional payment of Easyknit shares may be used for the purpose of exercised warrants, options, transaction and fee expenses, and ongoing financing costs.

The rules of the Hong Kong Stock Exchange regarding a material acquisition require the trading of the Easyknit shares to be suspended until the Hong Kong Stock Exchange permits resumption of trading.

Pursuant to the terms of the merger, Easyknit will file immediately with the depository trustee to commence the initiation of the ADR program. The ADR program will enable our North American shareholders to have a North American exchange available to them to buy and sell their respective shares after completion of the merger. The Company intends to implement the ADR program in conjunction with the merger.

Both companies have agreed to use good faith and best efforts to complete the merger. The merger documents require a break fee of US$30M dollars for any arbitrary termination of the merger by either party.

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Interesting... 

[setravis]

Wits Basin Precious Minerals Inc (WITM)
Mining bet a running today...


Business Overview:

BRIEF: For the three months ended 31 March 2007, Wits Basin Precious Minerals, Inc. reported no revenue. Net loss rose 15% to $2.2M. Revenues reflect the Company being in the development stage. Higher loss reflects an increase in exploration expenses due to additional drill rigs at the Bates-Hunter & Vianey projects, higher general & administrative expense, increased depreciation & amortization expense and higher merger transaction cost. http://www.witsbasin.com/


BUSINESS SUMMARY :
 
Wits Basin Precious Minerals, Inc. and its subsidiaries engage in the exploration and development of mineral properties in South Africa, Canada, Mexico, and Colorado, the United States. It holds a 35% indirect interest in the FSC Project, a gold exploration project located adjacent to the Witwatersrand basin in South Africa. The company also owns exploration rights in the Holdsworth project located near the village of Hawk Junction, Ontario, Canada; and in the Bates-Hunter mine, which is located approximately 35 miles west of Denver, Colorado. In addition, it owns a 25% interest in the property, known as the Vianey Mine Concession located in the state of Guerrero, Mexico. Further, Wits Basin Precious Minerals holds interests in the MacNugget Claims, a volcanogenic massive sulphide base metals project located in northern Ontario, Canada. The company was incorporated in 1992 as Meteor Industries, Inc. and changed its name to Active IQ Technologies, Inc. in 2001. Further, it changed its name to Wits Basin Precious Minerals, Inc. in 2003. Wits Basin Precious Minerals is headquartered in Minneapolis, Minnesota.

Support @ 0.85...0.76...0.66
Resistance @ 0.96...$1.05...$1.17...$1.25

52wk Range: 0.24 - 1.29
Volume: 1,244,342
Avg Vol (3m): 425,254

Technicals
Percentage Gainer


Rectangle (Continuation) Pattern

A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle. Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas.

There are many similarities between the rectangle and the symmetrical triangle. While both are usually continuation patterns, they can also mark trend significant tops and bottoms. As with the symmetrical triangle, the rectangle pattern is not complete until a breakout has occurred. Sometimes clues can be found, but the direction of the breakout is usually not determinable beforehand.

Rectangles represent a trading range that pits the bulls against the bears. As the price nears support, buyers step in and push the price higher. As the price nears resistance, bears take over and force the price lower. Nimble traders sometimes play these bounces by buying near support and selling near resistance. One group (bulls or bears) will exhaust itself and a winner will emerge when there is a breakout. Again, it is important to remember that rectangles have a neutral bias. Even though clues can sometimes be gleaned from volume patterns, the actual price action depicts a market in conflict. Only until the price breaks above resistance or below support will it be clear which group has won the battle.


 

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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.
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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.

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Nice base, good voume...opinions?

news today...Mr.Mancuso appears to be a positive addition to the Board...volume agrees.  Put on watch.



http://biz.yahoo.com/bw/070928/20070928005082.html?.v=1
Wits Basin Announces New Director, Dr. Joe Mancuso
Friday September 28, 7:28 am ET


MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc. (OTCBB:WITM - News) is pleased to announce that Dr. Joe Mancuso, founder and CEO of CEO Clubs, Inc. has been appointed to serve as a member of the Board of Directors.

"We are extremely pleased to add Dr. Mancuso to our Board of Directors," stated Stephen D. King, CEO of Wits Basin. "Not only does he have tremendous relationships and contacts in the United States, but he also brings many government and business relationships from within the People's Republic of China. The recent rapid growth of chapters and members in the PRC may be a valuable asset to assist our opportunities in China." CEO Clubs has more than 5,000 current and past members in the United States. Current chapter rosters in the PRC now number nearly 2,000 members.

Dr. Mancuso brings a wealth of knowledge to the board. He is an accomplished author having edited or written 24 books and numerous articles on business-related topics. He has also been publishing the CEO Clubs' monthly Chief Executive Officer's Newsletter since 1978. He is a proficient speaker, having addressed groups of up to 2,000 people in over 300 American cities and 40 foreign countries. Moreover, Dr. Mancuso has founded seven businesses. He has traveled to China frequently in the last two years and brought more than 200 CEOs with him on the trips. He is a friend of many high-ranking Chinese CEOs and government leaders.

Dr. Mancuso holds an Electrical Engineering degree from Worcester Polytechnic Institute (WPI) in Massachusetts and an MBA from the Harvard Business School. His doctorate is from Boston University in Educational Administration. He was the Chairman of the Management Department at WPI before launching CEO Clubs. He lives in Manhattan with his wife and business partner Karla and their two children. He also has three married daughters who have given him six grandchildren.

About CEO Clubs

CEO Clubs, Inc. (www.ceoclubs.org) is one of the world's largest and oldest non-profit membership associations dedicated to the continuing education of entrepreneurial managers. Its members are a worldwide group of CEOs who run businesses with a sales range of $2,000,000 to more than $250,000,000 in annual sales each.

CEO Clubs recently opened a new office tower in Beijing overlooking Tiananmen Square. Click here to see a picture of it: http://www.ceoclubs.org/main/china.htm#newhq.

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.

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bubble burst?

http://biz.yahoo.com/e/070927/witm.ob8-k.html

Form 8-K for WITS BASIN PRECIOUS MINERALS INC


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27-Sep-2007

Change in Directors or Principal Officers, Amendments to Article



Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 22, 2007, Wits Basin Precious Minerals Inc. (the "Registrant") appointed Joe Mancuso, Ph.D., to serve as a member of Registrant's board of directors. In 1977, Dr. Mancuso, age 66, founded The Chief Executive Officers Club, Inc., a non-profit organization with chapters in the United States and abroad that is dedicated to the continuing education of entrepreneurial managers, and has served as its Chief Executive Officer since that time. In 1977, Dr. Mancuso also founded the Center for Entrepreneurial Management, Inc., a non-profit organization. Dr Mancuso has edited or written 24 books and numerous articles on business-related topics, and has been publishing The CEO Clubs' monthly Chief Executive Officer's Newsletter since 1978. He is a proficient speaker, having addressed groups of up to 2,000 people in over 300 American cities and 40 foreign countries. Dr. Mancuso received a Ph. D. in Educational Administration from Boston University, an MBA from the Harvard Business School, and a degree in Electrical Engineering degree from Worcester Polytechnic Institute in Massachusetts.

In consideration of Dr. Mancuso's agreement to serve on the board, and his future service on the board, on September 24, 2007, the Registrant awarded Dr. Mancuso a ten-year option to purchase up to 2,000,000 shares of Registrant's common stock at an exercise price of $0.30 per share, the closing price of the Registrant's common stock on the prior business day. The option vests in equal biannual installments of 250,000 shares each over four years, with the first installment vesting March 24, 2008. Dr. Mancuso has been appointed to the board's compensation committee.





Item 5.03 Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On September 24, 2007, the Registrant filed amended and restated articles of incorporation which increased the number of shares of capital stock the Registrant is authorized to issue from 150,000,000 to 300,000,000 shares, all of such additional shares constituting undesignated capital stock. The amended and restated articles also reflected a change to update the address of our current registered office and deletions to certain references in our prior articles of incorporation that were outdated and unnecessary, including references to our Series B Convertible Preferred Stock, none of which are currently outstanding, and unnecessary information relating to our initial incorporator.

A copy of our amended and restated articles of incorporation is attached hereto as Exhibit 3.1 hereto, and is incorporated herein by reference.





Item 8.01 Other Events.
The Registrant's 2007 Annual Meeting was held on September 21, 2007 in Minneapolis, Minnesota. In addition to the approval of the amendment to Registrant's Articles of Incorporation as described above under Item 5.03, the Registrant's stockholders elected Mark D. Dacko, Stephen D. King, Norman D. Lowenthal and H. Vance White as directors, each to serve until the Registrant's 2008 annual meeting of stockholders or until his successor is elected and qualified.





Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.   Description
    3.1        Amended and Restated Articles of Incorporation
               (effective as of September 24, 2007).






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This Current Report shall not constitute an offer to sell or the solicitation of an offer to purchase any securities. 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 Securities and Exchange Commission (the "SEC"). In connection with the Registrant's proposed merger with Easyknit, as previously disclosed by the Registrant in certain of its filings with the SEC, 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. Such registration statement, however, is not currently available.
SHAREHOLDERS OF WITS BASIN ARE URGED TO READ THE DEFINITIVE REGISTRATION STATEMENT ON FORM F-4 AND 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, WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The final proxy statement/prospectus will be mailed to shareholders of Wits Basin. Investors and security holders will be able to obtain a free copy of the proxy statement/prospectus, as well as other filings containing relevant information about Wits Basin and Easyknit without charge, at the SEC's website (http://www.sec.gov) once such documents are filed with the SEC. Copies of the proxy statement/prospectus will also be available, without charge, once they are filed with the SEC by directing a request to Wits Basin's Investor Relations at Lighthouse Communications (866) 739-0390 or [email protected].
Easyknit and Wits Basin, and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Wits Basin's shareholders with respect to the proposed merger. Information about Easyknit's directors and executive officers will be available in Wits Basin's proxy statement to be filed with the SEC as referenced above. Information about Wits Basin's directors and officers will be available in Wits Basin's proxy statement to be filed with the SEC as referenced above, and is currently available in Wits Basin's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2006 filed with the SEC on April 16, 2007 and other public filings with the SEC made by Wits Basin. Other information about the participants in the proxy solicitation and a description of their direct and indirect interests (by security holdings or otherwise) will be contained in the proxy statement and other relevant materials after they are filed with the SEC.

The statements included in this Current Report on Form 8-K 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 Current Report 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, without limitation, the parties' ability to consummate or terminate the merger, and other risks and uncertainties described in the Registrant's filings from time to time with the SEC.



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RADAR![/b][/size]