Wits Basin Precious Minerals Incorporated engages in the exploration and development of mineral properties in South Africa, Mexico, and Colorado. The company is based in Minneapolis, MN and was formerly known as Active IQ Technologies when it was originally founded in 1992. Wits holds an impressive property portfolio which includes the Vianey Silver Mine in the state of Guerrero, Mexico, and the past producing Bates-Hunter Gold Mine in Central City, Colorado. It also holds an option to acquire interests in a nickel mining property and three iron ore mining properties located in the People’s Republic of China.
Wits Basin holds interest in the FSC project, a gold exploration project located adjacent to the Witwatersrand basin in South Africa. The FSC project is currently underway and incorporates several hundred thousand acres of some of the most prolific gold-producing land known to man. The company holds 35% interest in the FSC project, which cost a little over $2.1 million, but has the right to acquire an additional 15% interest for an additional $1.4 million. The prospecting has already begun, and several teams of geologists and miners have begun drilling the South African terrain looking for its famous gold reefs.
Wits Basin is lead by a team of professionals that combine for over 150 years of experience in the business. This team has knowledge from both a business and mineral standpoint, and has experience with prior mineral projects and mining companies. The board of directors has lead the company to creating its diverse portfolio of projects around the globe, and has it poised for success as the price of commodities, especially metals, continues to rise.