Wits Basin Precious Minerals Inc. provides the following updates from China Global Mining Resources (BVI) Limited (“CGMR (BVI)”): Revenue and costs during March 2014 The safety and mining rehabilitation work continues during this current quarter. AZH has reported this work program will extend beyond 30 June 2014 due to wet conditions at the [...]
Wits Basin Precious Minerals Inc. provides the following updates from China Global Mining Resources (BVI) Limited: 1. Beginning photo and current photo at the Xiaonanshan Iron Ore Mine demonstrating consolidation of three pits into one pit. 2. Significant update of information regarding the newly issued mining license.
Wits Basin Precious Minerals Inc. provides the following updates from China Global Mining Resources: 1. Production and sales at the Xiaonanshan Iron Ore Mine. 2. Additional updates of information after Chinese New Year. Production and Sales. Residual raw iron ore production as a result of the rehabilitation program being conducted at XNS was [...]
Residual raw iron ore production as a result of the rehabilitation program being conducted at XNS was 73,260 tonnes in November 2013 compared to 60,190 tonnes in October 2013. This represents an increase of 13,070 tonnes or 21.7% and is more than 50% higher than the forecast of 40,000 tonnes. XNS as a result sold 20,932 tonnes of 62%+ Fe [...]
Wits Basin provides the following updates from China Global Mining Resources (BVI) Limited: 1. Production and sales at the Xiaonanshan Iron Ore Mine. 2. Cancellation of the existing management fee agreement and reduction in the operator’s fee charged by Anhui Zhonghai Mining and Trading Company after completion of the mine safety and rehabilitation [...]
Wits Basin Precious Minerals provides a report on the following items: 1. Resumption of revenues during the Mine Safety Rehabilitation Operation. 2. Stakeholder Value Realization Plan. We are delighted to report that the Mine Safety Rehabilitation Operation at the Xiaonanshan Mine, conducted by our partner, Anhui Zhonghai Mining and Trading [...]
Wits Basin Precious Minerals is pleased to announce that the contractor for the Xiaonanshan Mine, “The Anhui Zhonghai Mining and Trading Company”, has provided Wits Basins’ engineering team with projected production output for the next six quarters. These projections include the Xiaonanshan Mine plus a new iron ore property called the “Jianshan [...]
Wits Basin Precious Minerals is pleased to announce that through the efforts of “The Anhui Zhonghai Mining and Trading Company”, whom Wits Basin has contracted with, that the Xiaonanshan Mine, located in Anhui Provence of The Peoples Republic of China, has been reopened. Wits Basin owns a 75% equity interest in China Global Mining Resources (BVI [...]
Wits Basin Precious Minerals and London Mining Plc have reached a complete settlement of all litigation between them in the U.S. and U.K. courts. As a result, Wits Basin and London Mining have ended their joint venture by mutual agreement and both companies believe this is in the best interest for each. Pursuant to the terms of the settlement [...]
