Wits Basin Precious Minerals Inc announced that the China Global Mining Resources Joint Venture with London Mining Plc intends to finance the Xiaonanshan Mining Company integration and the acquisition of the Matang Mine from third party funding.

CGMR has appointed ABN AMRO Bank NV of Hong Kong Branch a subsidiary undertaking of The Royal Bank of Scotland Group plc to advise on a fundraising which may, in the longer term, involve a public listing of CGMR.