At a recent conference, I stopped by the only booth that offered the cover of potential knowledge. It had pictures and maps of the South African Witwatersrand gold fields and the name WITS GOLD in prominent display. ThereI fell into a long discussion with these two guys both with degrees from the same university as me and one from the same high school in Springs–they must be credible, right?

Dr Marc Watchorn, Chief Executive Officer: Marc Watchorn’s independent review of the Witwatersrand Basin formed the basis for Wits Gold’s negotiations with the SA gold mining companies and resulted in the acquisition of the Company’s prospecting rights. Prior to co-founding Wits Gold, he worked for Anglo American between 1981 and 2002, both in South Africa and internationally and has over 26 years experience in the international gold sector. Dr. Watchorn completed 5 years of post-graduate research on the Witwatersrand Basin and has a PhD in geology from the University of the Witwatersrand. Dr. Watchorn is the chairman of the Company’s executive committee.

Mr Derek Urquhart, Chief Financial Officer: Derek Urquhart studied at the University of the Witwatersrand and qualified as a chartered accountant (SA). After graduating, he established his own auditing practice. He was later involved in the management of Tyco Truck Manufacturers, where he served as vice chairman of the board of directors until his resignation in 2001 to follow his private business interests. Mr. Urquhart joined Wits Gold in March 2005.

The premise of the company in Mining for Idiots terms is this: there is still gold in the Witwatersrand Basin right there besides the big mines that have yielded so much in the past. So get options on the area, drill to prove your geology model, produce an NI 43-101 to prove the gold is there, list on the Toronto stock exchange, and …….

That’s where you andI come in. And maybe a bigger company to develop to minethe newly proven areas.

I tend to look for sound engineering before investing in a mine–although the speakers at this conference said it is good management that makes a successful mine. I tend to look for places with good transparent laws–although the speakers said political risk is an illusion as long as you get to adopt the customs of the seemingly bad reputation country. Not what I heard from the chief council for Barrick last year at the Rocky Mountain Mineral Law Institute in Vancouver. But he is a lawyer, so what does he know by comparisons with the regular investment advisor?

These guys are bright: sharp one might even say. They have the right accents. So if my theory that engineering and good laws make for a good mining investment is wrong, and the conference investment-advice speakers are right that it is good management, and political risk be damned, why then, maybe we should all line up outside the Toronto stock exchange.