100% right. Even at $1.00, this is still a screaming buy. Considerably undervalued market cap based on the company's properties, subsidiaries, stage of development and the sector performance.

Was thinking the same - not likely to see a buy-back until we are fully "on-line" and generating consistent revenues from getting the product to market.

It's funny b/c the only reason we'd even bring up share structure is kinda what MWM alluded to - it's about the only aspect of this company that the sun doesn't shine DIRECTLY on, so-to-speak.

GLTA here.

Agreed re/ the share structure...any rumblings of share buy-back here or all quiet on that front as far as you've seen/heard?

I'm a buyer here under $1.00 (if anyone cares to sell). Pretty darn impressive resume for Mr. Madhi and his appointment as Pres. of Rareco only solidifies my belief that we have the right people involved to maximize the potential of the Steenkampskraal project.

I'm inclined to agree with you re/ the "series" of PRs to come...I think things will heat up quite quickly.

Not going to see much volume today if that bid doesn't get raised up. Looks like folks are sitting on that 0.26 hoping to snag some cheapies in this quiet time. I would hope people see the potential of their holdings here and selling sub-0.30 seems maybe just a little ridiculous...IMO.

What do you anticipate the next PR will entail?

Did somebody actually just sell 400 shares at .20? Wow - talk about short-sighted...

Here's your chance to get a few more cheapies, Flat...

Don't know if there's any sellers left sub-.30 (kinda hope not), but we're pretty close to the prices you missed first thing this AM.

My guess is another green day tomorrow now that we've taken a breath. No time like the present to add!

If only we had some people with specialized experience and who knew what they were doing...

What kind of crap team is Scott putting together here?

;)

I like this trading this AM - spit out a few flippers and then bring that bid and ask back up.

Rarely a bad thing when these types of "newly discovered" stocks take a bit of a breather, re-charge the batteries, then make a stronger move up.

Looking good here.

Volume is nice today(relative to the past), but it's worth keeping in mind that we have still barely even traded $100,000 worth of stock here. I would maintain that SGGV is still largely undiscovered.

Just imagine when the BIG blocks start going through at the ask and we're trading over a million shares/day...I'm sure you can figure out where we might be PPS-wise at that time! :)

Yep, very Allana-esque...huge potential based on a sizeable deposit (in this case two) of an in-demand commodity.

Finding these undervalued gems and holding is going to make a lot of smart, patient people a lot of $$$ IMO. We are in the infancy of what I believe will be a long and significant run up.

0.37 print! Nice move here.

Thanks, and agreed. Little chunks being bitten off in the 30's now...

Resistance? What resistance... ;)

I agree that smart money is accumulating here...

Our market cap is shy of 13 million - that's criminally low considering the probable value of their two properties.

I wish anyone hoping to grab shares at the bid the very best of luck. There just don't seem to be any weak hands left here. Pay the ask or watch this one run away from you.

Tough fills...been on best bid for the better part of an hour and FINALLY just got filled.

This thing sure is held tight and trades thin.

Scary to think where this might go with a million or two volume...

Yep. Most major indicators turning up and with some increased volume and RSI approaching or breaking into the "power zone", .30's won't last very long at all IMO.

News of TSX-V listing ought to be just the catalyst we need. I would anticipate volume will precede that announcement by a day or two, and this could very well be the week.

Interesting take here on pricing, demand, etc. for copper short- and long-term:

http://www.bnn.ca/News/2011/2/3/Copper-investors-beware-Geologist.aspx

Interesting notes:

- Fulp says he'd be "comfortable" with a $4 copper price
- Global average production cost of copper is around $1.85, so big margins even with a slight price correction from recent highs
- Slightly bearish on short-term copper prices, only b/c it looks overbought...but remains very bullish long-term for the market

Some interesting info/insight to be found there - thanks for the link.

Lots of analyst coverage on REEs lately on BNN as well. Some conflicting reviews on the "necessity" for increased output from the western world in light of concerns of Chinese hoarding.

It sure seems like the race is on to prove up REE deposits and announce them to the world...and that's all well and good...but I think the two biggest factors for seeing ROI in this sector are going to be:

1) Accessibility/ease of extraction (also see: low Capex/Opex)

2) Elemental composition of the deposit - i.e. WHICH rare earth elements does a company have and at what grade? Are they "heavy" or "light" REEs?


You want your deposit to host high grades of those elements that are in high demand and are poised to see increasing demand for their use in future growth products (smartphones, hybrid/electric cars, etc.)


I don't think we know enough yet about the extent of our REE deposit at Nemegosenda...I'd love to have a clearer picture and be able to better determine whether it's something to get excited about or if we should really just be concentrating on the niobium deposit and let the many, many other companies out there spend their money trying to prove up REE deposits before the proverbial bubble bursts...

The one thing I do know is that Scott is much better informed than I am (he'd better be!) about the current and future prospects for REEs and where Sarissa might be positioned based on the Nem. deposit. We do have a few pots on the stove right now (niobium at Nem., Shining Tree, securing financial partnerships, AFs, lifting of CTO) that it's hard to say REEs are even currently on "the back burner".


Would love to hear your thoughts on our REE prospects DSU.

Have a good one and enjoy the SuperBowl (if you're a football fan).

I saw that jmurfk. Bid support really is starting to build here and I have to believe that's a big-time reassurance for anyone who might be concerned about a sudden drop back to the .10 level. I think Thursday churned out the majority of the "quick flip" crowd and now the more patient will reap the intermediate- to long-term rewards.

BTW, congrats to the guys who made the quick double...no such thing as bad profits...I just hope they don't check the SGGV chart come Springtime! ;)

Yeah, I think the author is basically telling us something we already know, but it's always a little comforting to read something like that and see how Sarissa is poised to capitalize on a hot sector going forward.

Despite all of the adversity over the past year+, I still firmly believe that we have the right management with the right attitude, controlling the right resources, in the right sector, at the right time.

I suppose you really could use the "pieces of the puzzle" analogy here:

Start with the framework by establishing the four corners (management, resources, market conditions, strategic alliances) and then you know what you have to work with and you can start finding which pieces fit in where...takes time, but persistence is key. Plus, I think it helps that Scott has a pretty good idea in his mind of what the "completed picture" looks like! (IMO anyways)

Looks like I'm going to have to bite off a chunk at the ask if I want to get a starter position here...

Tried for some cheapies Friday morning, thinking there might be some weakness from the Thursday close, only to have my order go unfilled. Tried amending it multiple times throughout the day and the shares just don't seem to be there.

This one is held TIGHT and with some more volume (likely all at the ask)...well...we could be looking at an Allana-esque run here. This sector is hot and there's a great deal of $$$ to be made if you can catch a few of these gems early enough in their runs.

Best of luck to all here...but I don't think you're gonna need it.

Interesting read (not exactly "news", but good confirmation) and I'm sure everyone can figure out where Sarissa falls into this...



Wilderness of Mirrors - the junior mining argument
Junior mining stocks are still seen as offering the best potential returns as global populations and wealth expands - but there's a lot of chaff amongst the wheat.

Author: Richard (Rick) Mills
Posted: Friday , 04 Feb 2011

COQUITLAM, BC (Ahead of the Herd) -

Access to raw materials has become essential to the functioning of all industrialized economies. Threats to access and distribution of these commodities could include:

•Political instability of supplier countries
•The manipulation of supplies
•Competition over supplies
•Attacks on supply infrastructure
•Accidents and natural disasters
•Climate change
Every country imports and/or exports raw materials to one degree or another. As raw materials are the essentials for a country's survival, development and progress, everyone is looking for permanent, secure suppliers. A very worrying, and growing trend, is that countries rich in resources are limiting the availability of raw materials - commodities that are the building blocks of modern societies - in order to support their own industries. Such export restrictions could start confrontations over scarce resources.

Countries can restrict the export, or subsidize the import of, raw materials by means of:

· Export taxes

· Export licenses and or quotas

· Operating dual pricing schemes

· Subsidizing the import or local purchase of raw materials

Inflation is a factor and is already infecting commodity prices.

We're heading to a very inflationary environment. US President Obama is promising trillion dollar deficits for years to come and the US dollar is still the world's reserve currency. With all exporting countries trying to keep their currencies weaker then the US dollar - to make their exports competitive - the inflation rate is going to rise much higher.

Whenever governments are creating money and spending to excess inflation rears its ugly head and investors move into hard assets. The best hard assets to buy during these periods are commodities.

Our reality is we're living on a relatively small planet with a finite amount of resources, climate change is increasingly playing a role and we have a growing human population. Accessing a sustainable, and secure, supply of raw materials is going to become the number one priority for all countries. There's no doubt in this author's mind we are going to see much tighter supplies of, and higher prices for, commodities.

It's a fact in the mining world that most discoveries are made by a) junior mining companies and b) old time individual prospectors. In this author's opinion junior resource companies offer the greatest leverage to increased demand and rising prices for commodities.

If I was looking for superior investment vehicles to take advantage of what I think I know regarding the future for commodities I'd be looking at junior resource companies, not majors, involved in the search for, and development of, the worlds future sources of commodity supply -majors are exposed to various industries such as:

· Storage

· Transportation

· Refining

· Chemical processing

· Retailing

· Distribution

Which are not correlated directly to specific commodity price rises like junior resource companies can be.

Juniors, not majors, own many of the world's future mines and juniors are the ones most adept at finding these future mines. They already own, and find, what the world's larger mining companies need to replace reserves and grow their asset base.

Junior resource companies serve an important role in the commodities markets - they feed the supply chain.

In 1996 the whole junior bull market was centred around Bre-X. Then there was the technology stock boom based on the greater fool theory. The last bull market run for junior companies started in 2002 and imploded in 2007/2008. The TSX (and TSX.V) has experienced three major boom and bust cycles in the last fifteen or so years. This author believes we are on the cusp of another bull market run for junior resource companies.

In a wilderness of mirrors, who can you trust?

"Wilderness of Mirrors" is a phrase coined by the 1950s era counter-intelligence chief John Foster Dulles to describe the intelligence game. In particular, the phrase refers to the difficulty of separating disinformation from truth.

The opportunities in the junior resource sector are significant. But the junior population is quite large and there are literally thousands of stocks to choose from that want your dollars.

There is a steep learning curve and there are serious risks - great rewards come hand in hand with great risk. You must be prepared to do your own due diligence and uncover the opportunities.

You must be able to evaluate these opportunities, pay regular attention to your portfolio, manage the risk and take responsibility for your own decisions.

Richard (Rick) Mills is host of www.aheadoftheherd.com and invests in the junior resource sector.

pmunch, thanks for taking the time to reply.

I have read the most recent PRs and I am a fan of their no-hyperbole (i.e. "pump") approach. It will serve the company well in negotiations as they move forward with the copper project. I strongly believe that full-disclosure and a "nothing-but-the-facts" attitude will be a very attractive characteristic to potential financiers. Too many other companies running around claiming they have a world-class this, world-class that with little more than a picture of one core sample taken on their iPhone.

The more I look, the more I think you are right - this is the right company at the right price with the right assets at the right time.

Not a ton of downside risk here and the ceiling seems to be pretty darn high. Even conservative estimates based on current known resources would make CNYC a multi-bagger from here.

Future looks bright - I wish you guys the best of luck.

Another question re/ the New York Canyon project:

Canyon Copper Corp. is “Highly advanced, essentially pre-development stage copper project, offering the possible “Fast-Track” copper operation” (Canadian: NI 43-101 technical report). The project currently hosts a historical drill indicated reserve of 1.52 billion pounds of copper and approximately 40 million pounds of Molybdenum and is still open in all directions.

To date, Canyon Copper has completed 71 drill holes totaling 8,414 m on the Longshot Ridge oxide copper skarn deposit. As a result of Canyon Copper’s drilling program of 38 drill holes in 2004 and 2005 and historical drilling by previous operators, Canyon Copper confirmed an NI 43-101 indicated resource of 16,250,000 tons at an average grade of 0.43% Cu and an inferred resource estimate of 2,900,000 tons at an average grade of 0.31% of Cu at Longshot Ridge. This mineral resource estimate does not include 33 drill holes (7 HQ diamond drill holes and 26 reverse circular drill holes) completed by the Company in 2006. Upon completion of the companies next financing, the company plans to drill and confirm the sulphide deposit to comply with NI 43-101 requirements. Canyon is currently considering production options.


Am I correct to assume that they have not done any further drilling/testing since 2006? Is this because the project would not have been deemed economically viable at lower copper spot prices in, say, 2007-2008'ish? Or just a simple case of good results coming out at a bad economic time and limited financial partnership options?

It does look like they have some ambitious plans for 2011 though...


The project, located in the Santa Fe Mining District of Mineral County, Nevada, will be the focus of an extensive exploration program this year to further evaluate the mineral potential of the property. Activities planned this year include delineation and expansion drilling of the Longshot Ridge copper oxide system, metallurgical testing of the host mineralized rock and environmental base line studies to initiate a scoping study.


Do we think that someone like Freeport-McMoRan will be helping us along from a financial standpoint somewhere along the lines? It sure looks like there are some historical ties between this company (certainly its Phelps Dodge lineage) and CEO, Mr. Harvey.


I always feel like I'm "missing something" and want to be sure I'm covering all my bases here...

Thanks guys.

Just starting to do some digging here and had a few questions for the board:

1. Anyone here concerned that CEO/Director Anthony Harvey might be spread a little thin with all of the current roles he assumes? In addition to CNYC, Harvey also is Chairman and Director of ESO Uranium Corp as well as founder and board member of a resource industry management/consulting firm.

Forbes Profile - Anthony Harvey

He strikes me as someone who has likely made some pretty good connections in his 40+ years in the field, but I'm curious why he holds so many different positions simultaneously. Would it stand to reason that if CNYC were on the verge of something big, he would be concentrating all of his efforts here?

Hoping someone with a bit more knowledge can enlighten me on this.

2. Opinions on whether copper is seeing a price plateau or just consolidating as it gets ready for the next leg up?

Copper Spot Price - 1 Year

One heck of a steady climb over the last 2 years - expectations for it to continue?

3. If (when) CNYC is granted listing on the TSX-V, how does the initial listing price on that exchange get figured out? Is it automatically listed at the last closing price on its sister exchange (in this case the OTCBB) and then from there it trades roughly in line with its counterpart? I'm not familiar with the initial pricing structure and how it's determined, so I'm hoping someone here is. I can't imagine the "IPO" price is arbitrary...

4. I'm not much of a chartist, but from a technical standpoint how are we shaping up? A quick glance shows that .25 should be solid support which obviously suggests limited downside risk. But it looks like most of the main indicators (MACD, RSI, etc.) are all heading south. I suppose it only takes one nice piece of news to buck the trend, but I'm hoping someone can shine a more positive light on this current chart.


Thanks in advance for your help and insight guys. I recognize a few familiar names on this board (many of whom I trust to be knowledgeable about the companies they take positions in), so I'm hoping to gather a bit more info before I jump in. Lots of potential here by the looks of it, but that is almost always accompanied by at least a couple of (perceived) red flags.

Have a good weekend all.

Yep, same here. If you ask me, I'm pretty darn excited that we are up a full penny from 2 months ago when Sarissa's "silence" began. Heck, I'll take no PRs and a penny/share improvement EVERY two months!

I think we've proven in the past that we can see share value appreciation more in the anticipation of news than the actual release of it. I don't know that that's going to hold true when news of corporate/financial developments is made public, but certainly has been the case re/ drill results and the release of our NI report.

I'm pretty pleased with how Scott is piloting the ship. Since he came on board it hasn't been the smoothest ride of all time (does ANY stock go straight up though?), but the value of the company sure has increased from the days prior to his arrival. Lots of money has been made here and the opportunity for that to continue going forward is rarely matched on the pink sheets, IMO. Risk:reward with Sarissa is VERY favorable and I, for one, am looking forward to being rewarded for Scott et al's efforts!

Well said jfburk. I sometimes wonder if Sarissa's ultimate future will be more as a property acquisition company, rather than one that actually carries out the mining of assets itself. It will really all depend on the individual properties, our ability to raise capital, and the relationships Scott is able to cultivate with other companies who may be in a more "cash-rich" position than we are (currently)...this is part of the reason I believe events such as PDAC are so important for us.

But once we start to generate revenue (whether by means of JV, sale of property, or further on down the road the actual sale of minerals to the market) it will be very interesting to see which direction SRSR is taken by Scott.

The future, though somewhat uncertain, sure is bright here based on what we can piece together from previous PRs. It's fun to speculate based on what we currently know. Just need a few more pieces to the puzzle and we should start to get a clearer picture of where we might be this time next year, or this time in 5 years...

I thank you very much for proving my point for all the board to see.

You have yourself a nice evening TRON.

You didn't answer my question (again). And are you suggesting that historically SRSR's PRs have NOT been honest and factual?

To answer your question, I feel we have had exactly the number of PRs deemed necessary by our CEO who has extensive experience (more than you or I, or likely anyone else on this posting board) in the mining industry. If Scott Keevil sees fit to announce company developments on a twice per month basis b/c that is the timeline of getting drill samples or corporate developments, that's his prerogative. Just as it is for him to not issue any PRs for a 2 or 3 month time period. Other newsworthy items take longer to complete, so PRs will be spaced farther apart...that seems pretty common-sensical, no?

So are you concerned that Sarissa puts out too many PRs, or not enough?

Which would be more beneficial to shareholders do you think?

Thanks.

PRs cost $$$ to put out. Perhaps Scott et al. felt this was the most financially responsible way of getting the news out (as has been his M.O. in the past) to those who needed to know?

Just spitballing, but that's my best guess. He seems to be a fairly big fan of prudence when it comes to business operations and the use of our (limited) capital...

The other possibility is that we currently have other newsworthy items that will be PR'd to us shortly and this development will be noted in the same PR. Again, history has shown that there are often multiple fronts discussed in a single PR.

I'd like to extend my thanks to you as well for sharing, IGL.

Glad Merle was able to quell some of your fears and that you came out of the conversation more confident in your position here. I suppose, in a nutshell, that's what IR should be doing.

So you are saying that you are unwilling to share your facts re/ Sarissa Resources with the rest of the board?...As you said, "the Facts I have found to come to that Opinion are mine."

Curious...

I'd be very interested to hear these facts that the rest of the board seems to not be privy to, to date. I might have to re-think my ownership position in SRSR if you can show me some less-than-flattering factual evidence about the company that I have yet to turn up.

Might I also ask why you feel the "silence from the company is staggering"? What is that telling you exactly?

By the way, I'm still waiting for that documented proof to support your claims. I trust that based on your extensive DD on this company, you surely have those resources at your disposal, no?

Thank you.

I didn't ask for you to relate this to other pink sheet companies for which you have made a blanket statement. We are talking about Sarissa Resources here, not "MOST Pink Sheet Companies" (your words).

I'm sorry but you failed to answer my questions or provide any proof to support your previous statement of fact. I trust that means you are content to rescind your comments re/ having proven to act like the "oil companies of a couple of years ago"?

I'm also curious to know why you feel your "reading comprehension" must differ from mine when reading this company's info? What, precisely, do you feel I am mis-comprehending as far as official information released by the company? Please provide some examples so that I can be sure I am understanding you correctly.

I patiently await your response...and, of course, I appreciate your time.

You are correct - opinions are not actionable. Statements that include the words "proven to be" are...as you are suggesting that PROOF exists to support your claims.

I am still patiently waiting to see the proof that has been officially released by the company to support your claims of Sarissa's poor business practices, as you have suggested. I'm inclined to believe that no such information exists, but rather only information that suggests a well-managed company going through the necessary steps to bring a junior explorer to a revenue-producing junior miner. Such a process takes a great deal of time and we should be thankful that we have an experienced team to guide this ship through all of these steps.

And FWIW, you can trust that few have done more DD on Sarissa Resources than yours truly. You won't find many who will argue that.

Thanks again for your time.

Please post a link (or multiple) that shows an accurate juxtaposition of SRSR to these other companies you mention as drawing parallels to ours. I'd be interested to see how Scott Keevil and Sarissa have "proven nothing more than some of the old Bio Diesel Tycoons" from "a couple of years ago".

And I'm sorry, but how was the RS rumor proven to NOT needs facts to support the speculation? Must have missed that.

I know I'm asking a lot, but you are making some very serious claims about the company, and without evidence to support these claims, they could be actionable.

Thanks.

Link to support that it "happens more often than not" please. That is a statement of fact and I'd like to see your math that backs that up, please.

What concrete evidence do you have to support your claims that this is the case with Sarissa Resources?

Posting such information as fact is a dangerous practice and I would appreciate such comments substantiated with links (i.e. proof).

Thanks in advance.

Yes, you are wrong.

Much of what is posted here is speculation, but to blanket all conversations with the term "baseless" is incorrect.

Many of the theories posted on here about SRSR's prospects and the goings on behind the curtain are based on some terrific DD and information provided by the company in official PRs.

Don't worry about it dj. I think everyone's brains are fried this time of year! ;)

I don't know that it's "to be expected" on the last day of the year any more than any other trading day of the year. Some might cite the tax selling, etc. as a reason for increased volume in many securities on 12/31...but the fact that we have been predominantly buys here over the last few days suggest that there is legitimate interest returning to Sarissa. There is growing anticipation of a significant announcement re/ something OTHER THAN drilling. And many have speculated that a "corporate" announcement will be our catalyst for testing new highs...I think that may just be on the horizon.

We could be in for quite a January!