Wits Basin Precious Minerals Inc. (Wits Basin) is a minerals exploration and development company based in Minneapolis, Minnesota. As of December 31, 2008, it owns a past producing gold mine in Colorado (Bates-Hunter Mine), a 35% equity interest in Kwagga Gold (Barbados) Limited, which holds rights to properties located in South Africa (the FSC Project) through its wholly owned subsidiary and certain rights in the Vianey Concession in Mexico. On June 12, 2008, Wits Basin completed the acquisition of the Bates-Hunter Mine.