Sarissa Resources Inc (SRSR)

[supermegadope]

I spoke with Scott this afternoon. Here is a summary.

1. Uplisting should have no effect on current shareholders. It will be the same capital structure but a different listing.
2. Scott has no preference for uplisting to the TSX or AIM. Right now, this is a US Company, a Nevada Corporation. He is looking at opening a Canadian office because he lives in Toronto and the Michigan office just does not work for him.
3. He ONLY joined SRSR because they were pursuing the Niobium property. He, as with most people, is leery of PINKIES. Once he knew about Lake Nemegosenda, he was sold!
4. There are some brokers getting involved but NOTHING will happen until we uplist!
5. They are looking at some financing but the timeframe for this is still up in the air and depends on uplisting…Does anyone see the theme here. We NEED to uplist.
6. He joked about listening to a $2M offer before a $200k offer.
7. I had done some DD on uplisting timeframes for TSX and AIM. He agrees with my assessment that this process generally takes 3 months. This is dependent on the report, reserves etc. so it is a moving target.
8. He stated that “We have $5-$6B worth of Niobium. We do not have any other information about other ores.”
9. Scott really likes the Geologist…he is a great geologist.
10. Report is at least two weeks away from being done because of the weather issues. He anticipates that a trip with the geologist will be next week, then one week for the report to be handed to Scott, and then maybe a week for Cam and Scott to review it and prepare the PR.
11. The Drill Logs have already been reviewed.
12. The geologist needs to see some of the Drill Holes BEFORE he will finish the report.
13. Also, the best thing that can happen is that SRSR can gain access to the historic Drill Cores. If so, this may allow the geologist to log in the new data (make it current). This would put us closer to NI 43-101 Compliance resources.
14. If the Cores are “good” then we still may need to drill up to 5 holes, even at more depth, to prove more of the resources.
15. If the Cores are “crashed in” or disintegrated then there may be some more drilling that has to happen. There could be 10+ drill holes that need to be twined (drill right next to the original hole) to get the data we need for NI 43-101 Compliance resources.
16. JVs are on the horizon but the report is needed to help with the details so progress can be made on the JV potential.
17. I asked if he was considering a JV with Tek Cominco. He has no problems with doing a JV with them because “he knows the right people there.” He would rather deal with them but he is not against “shopping around for the best deal either.”


homey_g

Talk with Scott lately Homey?