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turbo..."Correct me if I'm wrong but were up 5% on 2.5 milion in volume. When a PR comes out with real substance you will not be arguing with me you will be going wheeeeeee....lol "
OK - consider yourself corrected!
You are a trader of stock and more concerned with the hour to hour changes of the market. I am a fundamental trader - longer term - and am concerned with company content and real substance. I don't measure this by what happens in the daily movement of the PPS.
I don't measure the worth of the PR only by the immediate reaction of the stock market. Case in point was the pre NI 43-101 report that came out last May. The report was excellent and with much substance. It confirmed the Lake Nemegosenda deposit as one that was worthy of "merit" as a potential world class deposit. The market tanked. That initial market reaction was hardly a measure of the company's worth or the substance of that PR. Maybe on the AMEX, PR's do indicate a better correlation of company substance, but on the Pinks, sell the news is fairly common.
What I did find really bullish today is the 5.15% up day of this stock after a PR. We didn't get a "sell the news" day. Better cover that short!....But best of luck to you and yours...Jim
turbosetch..."PR today was lacking any real substance."
I really make it a point to never comment on deviant, misleading, and agenda ridden posts, but yours, sir, pushed me over the top. Let's just say for the record that I disagree almost perfectly with what you posted. Have a good weekend...Jim
SPARK...You da man!
Hi folks...was asked by my good friend the Texas Ripper to post this:....Good investing all!...Jim
Posted by: jim6103 Date: Friday, June 19, 2009 3:32:47 PM
In reply to: None Post # of 50861
Sarissa Resources hits another homerun!
"CEO Scott Keevil's hot hand just got hotter with today's announcement of a channel/grab sampling on their claims in the Shining tree District of northern Ontario. From the 19 samples taken, assays revealed an astounding 7.456 gpt - almost a quarter ounce per tonne......"
That's the way this amazing bit of news should be written up in a trade journal -LOL. Scott's real expertise is in the exploration and discovery of gold. Most of his past work was in Indonesia with Alan Hawke in gold exploration. I was anticipating a move into gold at some point and am overwhelmed that it is now and with such positive initial news.
The channel/grab sampling was to get a feel of what they might have. In a very small sampling area and small number of samplings, they got some very very hi grades of Au - 13.097 gpt (grams per tonne), 14.743, 15.772, 20.297, 25.92 (31.1 grams is an ounce) - WOWIE! And these samples were all shallow - as in open pit low cost mining!
I have seen cut off grades of less than a gram per ton in some open pit golds. With these potential grades of a quarter ounce per tonne, an open pit mine would be incredibly profitable, but I am getting way ahead of myself. Just wanted to throw out some potentialities here. This will get very exciting!
All my experience in the investing world is centered around gold/silver miners. SRSR had been one of 2 stocks in my portfolio that is not a gold/silver play. Now I only have one!
I am also glad to see that Converge is out. I got a real bad taste after Converge hired that pump and dump newsletter crew that spammed the airwaves with CVRG sputtin. Even tho SRSR had nothing to do with it, sort of guilt by association in my mind. Scott only wanted CVRG along for the payment of costs. I think that the original plan was to prove up as much on the property as possible and then sell it off to a major. Neither SRSR nor CVRG could have afforded the cost of extensive drilling, feasibility studies, and mining. Now we got it all back and get to keep the downstroke. My guess is that since CVRG's meteoric rise on hot air that they re-nigged on the 3 million shares. JMHO...
Even tho this is a small sampling, it indicates that the property is worth continuing with a more extensive drilling program to delineate an Au deposit. They are certainly up in "elephant country" with their 16 claims. Indications from the small sampling program indicate that Scott and Company could be onto something really exciting.....
Just when I was getting use to the world class REE deposit, Scott has got to pull a stunt like this...ROTF....GOT SRSR....Smiling like a butcher's dog....Jim
Sarissa Resources hits another homerun!
"CEO Scott Keevil's hot hand just got hotter with today's announcement of a channel/grab sampling on their claims in the Shining tree District of northern Ontario. From the 19 samples taken, assays revealed an astounding 7.456 gpt - almost a quarter ounce per tonne......"
That's the way this amazing bit of news should be written up in a trade journal -LOL. Scott's real expertise is in the exploration and discovery of gold. Most of his past work was in Indonesia with Alan Hawke in gold exploration. I was anticipating a move into gold at some point and am overwhelmed that it is now and with such positive initial news.
The channel/grab sampling was to get a feel of what they might have. In a very small sampling area and small number of samplings, they got some very very hi grades of Au - 13.097 gpt (grams per tonne), 14.743, 15.772, 20.297, 25.92 - WOWIE! And these samples were all shallow - as in open pit low cost mining!
I have seen cut off grades of less than a gram per ton in some open pit golds. With these potential grades of a quarter ounce per tonne, an open pit mine would be incredibly profitable, but I am getting way ahead of myself. Just wanted to throw out some potentialities here. This will get very exciting!
All my experience in the investing world is centered around gold/silver miners. SRSR had been one of 2 stocks in my portfolio that is not a gold/silver play. Now I only have one!
I am also glad to see that Converge is out. I got a real bad taste after Converge hired that pump and dump newsletter crew that spammed the airwaves with CVRG sputtin. Even tho SRSR had nothing to do with it, sort of guilt by association in my mind. Scott only wanted CVRG along for the payment of costs. I think that the original plan was to prove up as much on the property as possible and then sell it off to a major. Neither SRSR nor CVRG could have afforded the cost of extensive drilling, feasibility studies, and mining. Now we got it all back and get to keep the downstroke. My guess is that since CVRG's meteoric rise on hot air that they re-nigged on the 3 million shares. JMHO...
Even tho this is a small sampling, it indicates that the property is worth continuing with a more extensive drilling program to delineate an Au deposit. They are certainly up in "elephant country" with their 16 claims. Indications from the small sampling program indicate that Scott and Company could be onto something really exciting.....
Just when I was getting use to the world class REE deposit, Scott has got to pull a stunt like this...ROTF....GOT SRSR....Smiling like a butcher's dog....Jim
What are the implications of the following? From the Pre NI 43-101 report by Warren Hawkins - a Qualified Person.
"RELIANCE ON OTHER EXPERTS
This report relies on published and unpublished reports available as assessment reports from the Ontario Ministry of Northern Development and Mines (“MNDM”). The author did not supervise the fieldwork that was completed by Dominion Gulf Company, but it is considered to be of very good quality. G.E. Parsons, the supervising geologist for Dominion Gulf Company during the time the fieldwork was completed, was regarded as a Niobium-Bearing Complex expert.
The author relied primarily upon the various reports by Parsons available from MNDM, and from R.P.Sage’s 1987 Ontario Geological Survey report entitled: “Carbonatite – Alkalic Rock Complexes in
Ontario: Nemegosenda Lake Alkalic Rock Complex”."
"G.E. Parsons, a noted geologist specializing in alkaline complexes in the Superior region of Canada, supervised the exploration work and prepared numerous reports summarizing the fieldwork of Dominion Gulf in the in the late 1950’s and early 1960’s. These reports are currently available for review through the Ontario Ministry of Mines and Northern Development database and are referenced in this report."
" R. P. Sage, as part of an Ontario Geological Survey project begun in 1974 to study alkalic rock complexes in Ontario, produced a report entitled “Geology of Carbonatite – Alkalic Rock Complexes in Ontario: Nemegosenda Lake Alkalic Rock Complex – District of Sudbury, 1987”. This report provided detailed geological analysis of the Nemegosenda Complex based on the work of Dominion Gulf/Parsons and on detailed field mapping that Sage himself completed. The OGS report included detailed petrographic and geochemical analyses. The fieldwork and interpretations of Parsons were largely confirmed by the detailed work of Sage and the OGS."
Holder...You are a wealth of information and have been more than helpful. Thank you for the input!....Jim
mytvsbroke...."We knew for a fact last year that the old core shack had been broken into and the cores scattered about, afew were found, and last I heard months before drilling began"
I believe that we are all aware of the missing cores & collars. The issue here is, 'does the company have enough verifiable geological historical data that can be used in conjunction with the 9 drillings?'
The opinion of Holder, our resident geologist is "no". I still believe that with the Dominion Gulf data that has been verified by the Ontario Geological survey and Musto's 1988 reassaying of 9 original drill cores from Dom Gulf, there exists a possibility that the independent folks doing the compliance report will be able to use the data. To what extent and degree remains anyone's guess.
Also, forget about asking the company as they don't even know the answer. Even if they did, they wouldn't tell!...Jim
Holder...."My guess is that data doesn't exist (Keevil would have it firmly in fist and willing to disseminate it freely), so the answer to your original question would be "no"."
How about this work from the Ontario Geological Survey that confirmed Dominion Gulfs work? This is from SRSR's pre-NI 43-101 report by Alan Hawkins - QP.
"In 1974, the Ontario Geological Survey (“OGS”) began a project to study alkalic rock complexes in Ontario that produced a report entitled “Geology of Carbonatite – Alkalic Rock Complexes in Ontario: Nemegosenda Lake Alkalic Rock Complex – District of Sudbury, 1987”. This report provided detailed geological analysis of the Nemegosenda complex based on the work of Dominion Gulf and on OGS field mapping. The OGS report included detailed petrographic and geochemical analyses. The fieldwork and interpretations of Dominion Gulf were confirmed by the work of the OGS."
goldwingeurope...Thanks for the great link. When I get time, I'll do a little digging. Holder gave us some great info and criteria by which old data could be used. Let's hope the boys doing the DD have the right stuff!
The Holder....I think that is highly possible as Ontario does a great job of keeping mining and drilling data. Maybe one better than I on this board has the answer....Jim
The Holder...."I won't know how to answer your question unless Sarissa can come up with a PDF version of the original core data that was analyzed by a lab."
That really is a question that only Scott could answer and I am certain that he would not give that info out since it was not already given in a PR. My guess is that since Dominion Gulf is no longer an entity that the info from the lab and the cores are not available.
Musto, on the other hand, is still in business (I think) and the possibility of either having the drill cores that they re analyzed or the lab data is a strong possibility....Thanks for your invaluable professional contribution....Jim
dougthehead...I believe that the old drill cores that were stored in the old blue shed are a thing of the past. Scott made a valiant effort to find them on his inspection tour of the property before they contracted for drilling, but was unable.
The cores that Musto used from the 9 holes drilled in the SE Zone may be another animal. Musto had the original drill cores in 1988 from the original 50's drilling and they may be still with Musto. We'll find out soon....Jim
dmbao..."He personally told me otherwise".
I believe that you have the correct data as mine came from assumptions and yours from the horses mouth. I stand corrected and thanks for the info!...Jim
Holder..."Jim, is there a professional geologist stamp on the Gulf core analytical data? Meaning, in the final report done by the Gulf Geologist, was any analytical data included in that report (other than visual logs)."
The company has the following old data listed on the Nemegosenda blog:
http://nemegosenda.sarissaresources.com/
Gulf Drill Log Summaries and Historical Data Catalogue
Scott on July 8th, 2008
The company has had the original drill logs from the Dominion Gulf Company analyzed and the data entered into a format we can more easily work with. In addition we were able to graph the Nb2O5 results with the radiometric counts, showing the direct correlations.
A summary of the holes from the D Zone and associated graphs can be accessed here.
We are continuing to analyze a vast amount of detailed historical information on the property. By carefully doing this, we can more directly target our exploration and metallurgical testing, saving a substantial amount of money that we would otherwise need to spend.
A partial listing of the reports we are currently working on (in no particular order) includes:
Nemegosenda Lake Project, Dominion Gulf Company Evaluation, July 22, 1971
Nemegosenda Lake Project, Dominion Gulf Company, Rare-Earth element content, East Ore Area, Jan 5, 1972
Report on the Geology and NB, Y, REE Potential of the East Zone, Nemegosenda Lake Alkaline Complex, Beaty Geological Ltd., 1988
Tonnage and Grade Calculations for Zone “D”, Dominion Gulf Company
Musto Explorations Limited, Nemegosenda Lake Niobium/Rare Earth Deposit, 1988
Report on Combined Helicopter Borne Magnetic, Electromagnetic and VLF Survey Nemegosenda Lake Area, Aerodat Limited, April 1988
Nemegosenda Geological-Geophysical Interpretation, 1988
There is a lot more exploration data still to be catalogued.
In addition to the exploration data, Gulf spent $990,000 over a 4 year period in the late 1950’s and early 1960’s in conjunction with the Colorado School of Mines Research Foundation Inc. and researched and developed a complete process for the treatment of the ore from the Nemegosenda property. This information will be very useful in any production feasibility studies we end up commissioning.
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From the Original Dominion Gulf Company 1955 Report:
"SUMMARY. CONCLUSIONS &..RECOMMENDATIONS:
This report covers 13 claims in Lots b, 9 and 10,
Concession I, Collins Township, Sudbury t. in ing division, Ontario. They are some 16 air uilee from the town of Chapleau on the C.P.R. transcontinental line.
Geological mapping by the writer and party during the
suBimer months of 1955 located only four outcrops* These, however, revealed that the contact zone between alkaline intrusive* and quartzbiotite gneisses exists on the group. This contact zone is known to carry columbium, rare earth minerals, uranium and thorium.
Geologically, they occupy part ol the northeast Hank of
a metasomatic aureole surrounding an alkaline plug. The rocks grade inward on this aureole froza relatively unaltered gneiss to completely alkalized gneisses (alkalic fenites). These alkalic fenite* have an indicated width of altaost a half mile. Evidence to date also indicates they fiiay average O.i&i - G.3% Cb205 and 0.025 - 0.03 U308 , with some areas up to 0.5ft Cb2o5 and 0.03ft U308."
"High ground magnetics lend support to this, and are situated about 2,500 feet off shore. The red fenite outcrop 01, shore, fifty feet south of the Township Line, gave very interesting assays of Cb205, U308 and ThO2- Radioactivity around the red
fenite outcrops is as high as 260 c. p. s., but heavy overburden eliminates the possibility of locating an anomalous radioactive body. Bulk samples taken of the red fenite outcrops gave G.2% C b^O^ by setii-quantitative spectrographic analysis. This zone is probably continuous over a 3,600-foot strike length on the property and of unknown width."
"One sample was taken on the outcrop along the shore, 50 feet south of the township. This assayed 0.50ft Cb205, 0.04 U308 and 0.03 ThO2".
http://www.geologyontario.mndm.gov.on.ca/SearchAFRI/
The interesting piece of information out of this original 1955 report by Dominion Gulf on the Nemegosenda property is the reference to U308, i.e. Uranium and its measured quantity of .025-.03% per ton. This was taken as a surface sample before any drilling was done. If this surface sample goes to depth, Zone D would have approximately 10,000,000 lbs of Uranium - There may be more or less depending upon what the drill logs show.....Still looking....Jim
Elis...Good find!
dmbao..."Previous management reduced the OS/AS not Keevil."
I disagree with your position. Scott Keevil took over as CEO on Dec 1 of 2007 - just 3 days after the announcement of the reduction in the A/S. Scott had been unofficially running the show well before the 1 of DEC. You can see his name on claims he staked for the company in October of 2007. A monumental decision to reduce the A/S 3 days prior to Scott's official start would be his impetus and not the lame duck CEO (and old Ben F was a real "lame duck")!
BAY CITY, MI, Nov 27, 2007 (MARKET WIRE via COMTEX) -- Sarissa Resources Inc. (PINKSHEETS: SRSR) is pleased to announce that it has acquired 1,150 acres in Timmins Township situated in Northern Ontario. The "Timmins" property has historic zinc, copper and gold showings and will be geo-chemically tested throughout the entire property in late autumn or early spring weather depending.
Ben Fuschino, current CEO of SRSR, comments, "I thought I was done with my cycle of acquisitions but Sarissa had the opportunity and it needed to add this property to incorporate a fuller and more diversified metal mix. I am sure that the new SRSR management will exploit this property to the full extent of its potential."
The board of directors of SRSR has decided to reduce the number of authorized shares of Sarissa Resources Inc. to 850 (eight hundred and fifty million) million shares authorized from the current level of 950 (nine hundred and fifty million) million outstanding shares.
vtd....I only post on stocks that I have thoroughly DD and really understand the fundamentals. Bio's are way out of my league...Go SRSR....Jim
Posted April 9, 2008 - hope the market starts to reflect the old pricing parameters.
"Commerce Resources has 59,000,000 lbs of niobium at $26/lb. and 9,000,000 lbs. of Tantalum at $70/lb for a total of $2,164,000,000. SRSR has at least 188,000,000 lbs of Niobium at $26 = $4,888,000,000, but not yet proven up by NI43-101 standards.
CCE has 140,000,000 O/S and srsr has 725,988,058.
CCE price closed today at 83 cents - therefore the market cap is 116,200,000 divided by the market value of their deposit ($2,164,000,000) = 5.36% This means that the market today is valuing CCE's resource in the ground at 5.36% of its market value.
If SRSR had its NI43-101 finished and had reserves of 188,000,000 and the market valued the SRSR reserves the same as CCE's today, it would be calculated as:
188,000,000 X $26 = $4,888,000,000 X 5.36% = $261,996,800 market cap Div By O/S (725,688,058) = 36 cents
SRSR will undoubtedly prove up more reserves than the present estimated 188 mil lbs. of Niobium. They have depth open in Zone D and 4 other prime targets on the property. They also believe that there will be an amount of Tantalum found with the niobium as they usually are found together. SRSR is also anticipating finding Uranium and other rare earth metals. We will most likely have an even larger whale than what we have right now.
valleytopdog....You bet! Welcome to the club...
threw-er-back....Yes, SE Zone most probably will be in the report as that was one of the company's statements in the 22 Apr PR concerning the content of the compliance report ("delineation of the SE Zone").
Threw....I always find new items of interest the more I read over the PR's....
goldwingeurope....I was looking at the live cam from Chapleau, Ontario and thought I saw some Chinese...Hmmmmmmmm.....Jim
http://www.chapleau.com/
texas ripper..."I made the following post way back last summer... "now we hear word that instead of being 20 million tons like zone D that the SE Zone is 170 million tons... so the 11.3 Billion mentioned at the end of the post becomes... 96,222,000,000.... just under 100 billion dollars worth of REE, and that is only using the REE's talked about in SRSR's PR last summer... REE's could end up dwarfing the 40 Billion or so in Niobium..."
ripper, now you are really starting to frighten me - LOL! You could be very right. We might find that the REE's in the SE and D Zones far out weigh the value of the Niobium at Lake Nemegosenda.
I hope that your invaluable REE comments assist those short-sited investors who are merely playing this for the spike from the compliance report to stick around for much bigger and better things to come. Monster property!...Jim
chuckrmon22....."So what I am saying we should hear only of the Niobium in this report......which is world class BILLIONS enough!!!!!"
Yes, this report will only have Niobium resources. The cores from the 9 drill holes were not tested yet for REE's. That can be done at another time. Right now we are focused on Niobium. The property is like Willy Wonka Land to a child - got a lot of good bling in the ground!
Emergcy...."if I take your figures and considerations for further calculations I come to a value between 0,29 to 0,43$/share"
If my calculations are correct - that may be a big if. I find no fault with your assumptions as they were derived validly, but at this point it is anyone's guess as to what the numbers will look like in the compliance report and, more importantly, how the market will react to them. Just glad I am long....Jim
goforthebet....Good article.
From a SRSR PR:
"In addition to niobium, the Eastern Ore Area contains rare earths such as cerium, yttrium, lanthanum and neodymium... all rare-earth elements are present in significant amounts in the East Ore Area....In a "Report on the Geology and NB, Y, REE Potential of the East Zone, Nemegosenda Lake Alkaline Complex" by the consulting geological services company, Beaty Geological Ltd. of Vancouver, BC, it was reported that, "samples collected from outcrop in the 'East Zone' have quantitative analyses, with values of 0.29% yttrium oxide, 1.61% cerium oxide, 0.76% lanthanum oxide 0.62% neodymium oxide, and 440 ppm europium reported from one [sample]." *
Got REE's in "significant amounts". Can we say WINNER here!
Good investing...Jim
Norton...Knew you were into hogs! good luck!
From another board:
Posted by: crudeoil24 Date: Sunday, June 14, 2009 1:38:55 PM
In reply to: The Rainmaker who wrote msg# 13459 Post # of 13465
SRSR may be the ticket.
The importance of REE's to our global economy. This is taken from an article with Mark Smith of Molycorp Minerals and talks about the importance of REE's. SRSR has a vast reserve of REE's on its properties.
Why rare earth metals matter Tom Vulcan, rare earth metals reporter for HardAssetsInvestor.com, recently had the chance to speak in Washington, D.C., with Mark Smith, CEO of Molycorp Minerals LLC. With its mine at Mountain Pass, Calif., Molycorp currently owns and runs the Western Hemisphere's only rare earth ore mining operation.
Author: Tom Vulcan
Posted: Monday , 18 May 2009
NEW YORK (Hard Assets Investor) -
Vulcan: In which areas are rare earth metals of absolutely critical importance?
Smith: When I think of the critical importance of rare earth elements, I think of two areas in particular related to clean energy technology. One is the hybrid vehicles, and the other is wind turbines. There are two components within hybrid vehicles that we have to keep in mind when we think of the critical importance of rare earths. One is the nickel metal hydride battery, which uses lanthanum metal; and the other is the use of permanent rare earth magnets, which primarily use neodymium.
I think everybody is predicting that the battery side of the hybrid vehicle is likely going to change to lithium ion in the next 5, 10 or 15 years. However, until the lithium ion technology is fully developed, the nickel metal hydride batteries will be indispensable. Moreover, the one thing that cannot change in electric vehicles or hybrid vehicles is the use of permanent rare earth magnets in the motors and generators. There is simply no substitute for those magnets.
Vulcan: So hybrids and then wind turbines.
Smith: Yes, but there are some other uses of rare earth elements including energy-efficient lightbulbs that are also very important. Compact fluorescent lightbulbs use europium, terbium and yttrium. Without europium, terbium and yttrium, they don't work.
ripper....Yes, bring on Monday and the rest of the month.
I have never felt more confident in a small cap play than I have on this one. This is truly a jewel. Hard to find a comparison. It would be like buying Rob McEwen's Gold Corp at a dime or Nova gold at 7 cents (I passed on it at 13, but bought it at 44 cents - LOL).
My average from late 2007 is 1.1 cents and spent most of the winter of 2008 watching the stock trade between .006-.009. What a great buying op that was and again after the first runup and retracement to sub penny in late 2008. With the coming compliance that will place our deposit somewhere in the billions of dollars, those days of buying the stock at sub penny or sub 10 cent pricing will be gone....Jim
APRIL 22 Press Release observations:
1) "It should be noted that the drilling program successfully confirmed both the mineralized zone data historically reported, and that the mineralization continues below what had previously been identified as the depth of the mineralized zone."
The historically reported mineralization was 20 million tons of .47% niobium, which amounts to a historic non compliant resource of 188,000,000 lbs of Niobium. The PR states that we have not only confirmed the old data, but have increased the deposit at depth.
2) "Sarissa's current drilling program has increased the confidence level in the historic exploration and subsequent evaluation to the point that an indicated resource may now be calculated for the D Zone."
The comment here that the company's present drilling program has given credence to the old Dominion Gulf data is huge. This may indicate that the Independent geologists working on the compliance report are able to use the Dominion Gulf data because of the validation that was accomplished from the recent drilling program.
3)"The company is on schedule to produce an N.I. 43-101 mineral resource report. With our work to date, we expect the results of our evaluation to accomplish a number of objectives, including:
A) Materially increase the reported historical resource and;
B) Establish that the Nemegosenda mineral resources represent one of the larger mineral niobium resources in North America and;
C) Outline the potential mineralized area within the South East Zone."
The company's expectation is to "increase the historic resource". Since the historic resource is 188,000,000 lbs Niobium, the report will have a total of indicated and inferred resource in the D Zone larger than this historic figure.
The company also intends upon "outlining the potential mineralized area within the SE Zone". I believe that they intend upon doing that with the assistance of the 1988 Musto re-assaying of the original drill cores from Dominion Gulf. I believe that the company is hoping the "Qualified Persons" working on the NI43-101 will have enough confidence in the data to be able to justify inclusion of it and a calculation of an inferred resource for the SE Zone. From the PR:
"In 1988 Musto Explorations Limited ("Musto") carried out an evaluation of the so called "East Zone" (the South East Zone), which is located some 1500m south east from the D Zone. Musto re-assayed nine drill holes from core which was still available. These nine drill holes are from an area of 250m x 700m and to a depth of 200m. Sarissa has checked the reports, maps and sections from this area and have calculated that there is a potential resource with a weighted average grade of some 0.35% Nb2O5 within this block of 250m x 700m x 200m. * This reported resource is historical in nature and, therefore, not compliant with National Instrument 43-101 reporting standards; however, they are considered material to the prospectivity of the Nemegosenda Project. A "qualified person," as defined under NI-43-101, has not done sufficient work to comment on the relevance or reliability of these historical estimates."
After stating that the old data is not "compliant with National Instrument 43-101 reporting standards", the company states, "however, they are considered material to the prospectivity of the Nemegosenda project. A "qualified person" as defined un NI 43-101, has not done sufficient work to comment on the relevance or reliability of thse historic estimates". Alan Hawks could never comment on the possibility of using the Musto/Dominion gulf drillings as he is not allowed to do the NI 43-101 - must be independent QP's. This is the first opportunity for an independent qualified source to comment and possibly include the old data in the calculations. The company appears to be telegraphing the possible use of the old data along with our present drilling.
Calculations:
The company left us with some very succinct figures that I believe can be used to calculate what the company is hoping to see in the independently done NI 43-101. Here are those company provided figures and my calculations.
A) Zone D; "Drill hole intersections, with a weighted average grade of 0.43%, are located within a surface area of some 76,250 square metres and to a depth of at least 200m."
76,200 sq m X 200 m = 15,250,000 cu m X 2.8 m/tonne = 42,700,000 tonnes X .43% Ni/tonne = 183,610 tonnes Niobium X 2204.6 lbs/tonne = 404,786,606 lbs. Niobium
B) SE Zone: "Sarissa has checked the reports, maps and sections from this area and have calculated that there is a potential resource with a weighted average grade of some 0.35% Nb2O5 within this block of 250m x 700m x 200m."
250m X 700m X 200m = 35,000,000 cu m X 2.8 tonnes/m = 98,000,000 tonnes X .35% Niobium = 343,000 tonnes Ni X 2204.6lbs/tonne = 756,177,800 lbs. Niobium.
Conclusion:
I believe that the old data will be used in conjunction with our 9 drillings to arrive at an indicated resource amount and an inferrred amount. The company is "hoping" that the QP's working on the report will have enough confidence in the old data to be able to utilize it in the calculations of at least an "inferred" resource.
The total from the figures given by the company totals 404,786,606 lbs. Niobium from the D Zone and 756,177,800 lbs. Niobium from the SE Zone for a total of 1,160,964,406 lbs. of Niobium.
The present drilling program covered 30% of the D Zone. My guess is that an indicated resource will be derived from this drilling and we get around 120,000,000 lbs in the indicated category. Since the company stated that they expect the compliance report to increase the historic resource, the inferred resource could be the difference;
404,786,606 lbs - 121,435,981 = 283,350,625 lbs inferred
resource
The company stated the report would "Outline the potential mineralized area within the South East Zone."
The figures that were provided calculated to a total of 756,177,800 lbs. of Niobium. I believe that all or a certain percentage of this world class figure may be used to obtain an "inferred" resource for the SE Zone.
Any way you slice it, by Sarissa's own figures, there is a deposit of niobium that is now estimated at 1,160,964,406 lbs of Niobium. At $20/lb that is a market value in excess of $23 BILLION. The 64,000 question is what will show up on the NI 43-101 report?
If only a fraction shows up - so what? The company is confident in what they have and the next drilling program will prove up more etc. This report is very important in that it will bring real value to this company. The report will most probably give us a resource anywhere between $2 Billion and $23 Billion. In my book, anything over a billion bucks is a world class start....Good investing all...Jim
gofor...."Niobium will be amongst them imo"
Yes and the REE's are going to be really a big item in the years ahead as the demand for tech and green increases exponentially.
I believe that SRSR is sitting in the catbird seat - the nuts hand in a poker game. More drilling is going to continue to add gigantic value to this company. Time shouldn't be an issue here as we got a real tiger by the tail......Jim
dmbao...."While our Nemegosenda property is a blockbuster best I can tell. It certainly isn't Scott's swan song. IMHO is just the start,"....
You may be correct. My only point is that whatever happens - Scott selling the company or taking it to production - the stock holders win big. We can't lose in either scenario.
SPARK....I still think that an off take with a Chinese concern is a very viable possibility. Scott may want to be part of taking this to production with a "sugar daddy" deal that pays all the expenses. He may also line up an off take agreement and then sell the company off take and all. Either way this monster REE property makes all the shareholders some real serious money....Jim
kiwisteve...."I am relatively new investor in SRSR and have been trying to follow past discussions from links in the IBox relating to possible valuations. I am wondering if you ever reached a consensous on this issue? I know its a big question and probably muched discussed in other places but I would like to know what the ballpark potentail is."
Welcome! The potential for the Lake Nemegosenda property in Niobium alone is staggering. Here is the potential Niobium deposit calculated from data obtained in the company's press releases.
1.) Zone D:
deposit averaging .43% niobium over a area of 76,259 sq mts X 200 mts deep = 15,250,000 cu mts. X 2.8 tonnes/cu mtr. = 42,700,000 tonnes of resource X .43% Ni/tonne = 183,610 tonnes of Niobium X 2204.6 lbs/tonne = 404,786,606 lbs. of Niobium
2.) SE Zones:
Estimated 170,000,000 tonnes of .35% Niobium = 595,000 tonnes Ni X 2204.6 lbs/tonne = 1,311,737,000 lbs. Niobium
The NI43-101 report that is due out any moment will cover a % of the total D Zone estimate. Probably in excess of 120,000,000 lbs. How much over is anyone's guess. The important factor here is the longer term potential for this WORLD CLASS DEPOSIT. Takes time to drill all the holes.
In summary, the total present potential for the property calculates to the following:
Zone D - 404,786,606 lbs. Ni
SE Area -1,311,737,000 lbs. Ni
I think that it is fairly evident that we have a world class deposit at lake Nemegosenda.
Iamgold: Niobec mine in Quebec and is the only and largest producer of niobium in North America. It is one of 3 of the world's largest Niobium producers in the world.
Resource of 303,793,880 lbs. Niobium
Sarissa Resources - 1.7 BILLION lbs Niobium
Taseko .5 Billion lbs Niobium
Iamgold .3 Billion lbs Niobium
Commerce Resources .043 Billion lbs.
Ultimately, D Zone alone will place SRSR as #2 deposit in North America. Think that there aren't a lot of eyes from the industry on this play?! I can guarantee that this play is no secret in the industry and the potential here as a future niobium resource is monumental. Don't even need to talk price here as the PPS will work out to a fair market value as time and advances are made on this world class property. If your on the fence, now is a good time to buy. The price is only headed north - way north!...All the best...Jim
dmbao...Me too!...
I believe that this may be the time as we're on the verge of a deposit defining report. Where the Hawkins report was a confirmation of previous historical data without any NI43-101 compliance results, this next report will be an industry accepted confirmation of a % of what Nemegosenda holds in the way of niobium. This should spike the price and bring us to a new level of trading....JMO...Jim
Keith....Keep an eye on that volume. Fun ahead....Jim
dmbao..."I hope this is not another flash in the pan volume move but the start of some serious volume increases as the NI report is released hopefully by months end?"
You have stated more than once that when this stock gets the right fundamentals out to the public, we'll be seeing big volume as in 70 Million share days.
I concur! The sun on this stock is shining way past the readers on this Ihub board. When the dedicated mining investors get the kind of info they need, the daily volume increase will be noteworthy and not due to the trading crowd. There is a serious contingent that takes big deposits very seriously and will come in when the time is right. This includes big investors and institutions that buy stock in big deposits - pinks included.
Case in point was Nova Gold. They were a stinky Pinky and developed a gigantic copper/gold deposit. They went straight from the Pink sheets to the AMEX. While they were still a pinkie, they had a lot of play from the mining community because of their deposit inspite of their exchange status.
Better days ahead...Jim
chuckrmon22..."We investors seem to be holding something so monumentally awesome, that some have a hard time understanding or fathoming just what it is we have here!"
Oh, so right, Chuck! This is truly a "once-in-a-lifetime" situation. That is why I challenge anyone to post a situation like what we have here and deny its future success. Case closed and hang on for the ride....Jim