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You are stating facts! Thanks for the post!
I took micro-economics before macro. That being said, the one theory throughout both courses was a concept called "supply and demand". Applying that concept to SRSR today, the supply is outweighing the demand. IMO, that fact is not going to change until the audit report is released.
Where is the public statement of financing? Why keep it a secret? IMO, be transparent!
We are talking about a "financial audit"? We are not talking about a DD audit? We are talking about facts! How much money is in the bank to supply these ventures. These ventures being.... a new road and drilling. These ventures include an audit. Who is paying for that? Who pays the venture in the winter?
What figures are they backing?
What figures are you talking about?
Auditors do not do DD. They verify the facts on the Balance Sheet. Auditors are not investors. Auditors deal in facts! They deal in reality. The fact is there are no audited financials for SRSR as of today. The fact is there is no filing for an up-listing as of today?
As a shareholder, I do care when the Audited Financials come out. IMO, sooner the better!
Average gas price in the US today....3.93 per gallon. Assumming that the bulldozers do not drive themselves to the site, they have to be towed on big rigs which cost $1,000 to fill up. Account for labor and hauling the drilling rigs, I don't see enough cash on the current balance sheet to pay for this?
Bulldozers require gas. Gas is very expensive. When I look at the unaudited Balance Sheet, I do not see how SRSR can pay for it?
Did he state who is paying to ramp up this "access road" to get it into shape. Looking at the preliminary Balance Sheet posted by SRSR, I did not see enough cash to support this operation.
what two issues are you speaking of?
I am also sure that no "audited" financial statements have been published. It has been six weeks since the PR? I reviewed the FSs, IMO, it should not take this long to issue them? In addition, who is paying for the audit?
Yes, I am sure. There is no mention of a "filing" to up-list.
Just checked the SRSR (company) website, and there is no mention of a filing to up-list.
I am suprised by such a low volume today. I would have expected to see a higher volume considering the low PPS and IMO a great buying opportunity.
Just looked on the SRSR (company) website. Still no audited financial statements published.
Did he state who these "people" are who are lined up to finance?
I agree. Very foolish sellers. I was of the opinion that accumalation had already taken place. Now with all of this selling and downward PPS, I am starting to wonder if there are still weak holders of this stock?
The summer months are approaching in CA. As a shareholder, I hope to see some action in getting the mines drilled and a JV announced. The summer window in CA is narrow. If nothing is announced, I assume another year delay?
Shareholders waited on the "Independent" report on the resources. After the report was issued, the stock has depreciated. Shareholders are waiting on the audit report. IMO, not sure why it has not been issued by now. Shareholders are still waiting on the up-listing! As a shareholder, I am STILL waiting! Time is ticking!
Just checked again...no audit report. no up-listing and most importantly, no JV?
Not sure that I made an argument. IMO, I stated fact(s). There are NO audited financial statements. There is no Joint Venture. There is no "bankable" study!
Quote "The extraction of an economic resource will only be done after a bankable feasibility study is completed."
According to your post, SRSR is not yet considering the costs involved in extraction of the resources? IMO, that is not responsible?
Too my knowledge, SRSR issued a press release stating they have engaged auditors for a financial audit.?
Now you are talking about a "bankable feasibility study". Has SRSR issued a press release about this bankable study that I am not aware of?
enjoy!
Howard, I never thought I would post this, but you and I are of the same mind on this! We will wait and see.! I am routing for SRSR as much as everyone else.
As a thinking man, I would not care if I was not paying for it. As a shareholder, I want SRSR to tell me that we are not paying for it. I have not heard that. Have you? Hopefully, I am wrong!
My recollection of cost is 7.5 million....just to start?
Too my knowledge, there is NO audit report, there is NO up-listing and there is NO JV? Hopefully, I am wrong!
I just researched, and I could not find any reports issued by SRSR regarding the extraction of these metals. Does anyone have the cost to benefit ratio of mining these metals?
??????..Please elaborate. Not sure how this post relates to SRSR?
I just researched, and I could not find any reports put out by SRSR that addressed the cost of extracting these metals. Do you have any info. regarding this?
Sorry about that, I think (and hope) that the reports come out soon!
I agree 100%
Please note that the Year-End financial statement is NOT AUDITED!
Please everyone keep in mind, there is no product revenue coming into SRSR YET. We only have expenses. Give SRSR some time. IMO, we have a JV coming in to pay for the 7.5 million expense for the additional drilling. We have a JV coming in to pay for the audit that is soon to be released. Once the audit is released, we will uplist to a credible exchange! Patience is the word for today!
Your answer would be in the audit report....listed on the Liabilities section of the Balance Sheet!
Looking forward to the Audit report. Hopefully once it is issued, SRSR will take the next step forward in regards to the PPS that all of us longs expected after the Hawkins report was issued!
We are talking about a financial audit. All the auditors have to do is verify the "facts" on the balance sheet. All they have to do is verify that SRSR owns all the land that they claim. They verify any cash accounts and any other assets. They verify the liabilities side of the balance sheet. Lastly, they verify any Owner's Equity.
You are correct in stating that the government did not require this audit. However, for this company to uplist they need this "financial" audit from a CPA firm. "Technical" audits have nothing to do with uplisting.
Uplisting has nothing to do with the Hawk report.