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These were really just totally rumors at this point. I will refrain from posting more rumors from now on...
I have a few friends working up near Timmins on a large mine computer systems install & they came up with this stuff and I have not heard back from them today (I think they are working) so I have asked where they got this from. I have them investing in Sarissa now so they have a vested interest in checking them out for me...
I also do not see a 6" drill listed, but Hawkins only suggested a "Large Size P Core" drill and frankly I have never seen a '6" Core Drill'.
I think the largest core drill I have personally seen is 57mm (2 1/4") so I am not sure where this info came from.
Anyone remember where the reference to 6" originated? (Hopefully not another of my rumors... lol...)
I know and can tell you the 'VD 5000" Hydraulic Drill is a Big rig (I have seen several of these), but do not know what it's max diameter drill is.
I remember that North Amercan Palladium used a VD 5000 for all or most of it's Cores a few years back.
Here is that report from the 8-K on Edgar's website.
http://esignal.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingRTF1?SessionID=pqaoWdfc92B7SXV&ID=5497442#A07_27511_1EX1_HTM_A11_2_1DRILLS_092719
Starting on page 50 it descibes the core drilling program on that project. I also thought I remembered that their first cores were from "Zone D" so I thought that was funny and interesting... PAL has dropped a Lot lately, but it was the first mining stock I ever owned and rode it from $2 to $14 a share at one point.
Anyway, I am sure Sarissa will PR who the drilling company is once they start work, so we will know for sure then. And I will not post any more rumors...
Cheers,
ThegoodlifeGeo
Yes, that should be what happens. The Drilling company will do the on-site inspection with Scott & company to ensure that there are no "Surprises" here that Sarissa has not foreseen. After all, Drillers are experts in Drilling and Mining Geologists are experts in finding minerals...
Until the drillers see the layout they will not sign the contract just to be certain all is as it should be so that adjustments can be made to the contract before drilling begins.
Once the drillers are satisfied all is well they will go over the Start Hole and the order sequence for best and most efficient drilling before they start.
We do not know exactly where the equipment is coming from, but I have started working on people I know in the Timmins area and here are the rumors I have heard for Drillers & Lab work:
Please remember these are just rumors and I do know they talked to many before picking them, but these are the rumored companies:
Driller:
http://www.norexdrilling.com
For Lab work I heard 2 stories:
http://truenorthmineralaboratories.com/Sample-Preparation.html and/or (in association with) Actlabs http://www.actlabsint.com/home.htm
No matter who is doing what, we are (finally!) almost there...
Drilling is about to start and the excitement level can, once again, start to build...
I know I am excited... Anyone else????
Cheers All,
ThegoodlifeGeo
Yes, this is just all the initial stuff that they must do in order to continue. They have also been working on the investor front (working on ways to attract investors) so I am sure we will see more on this front soon too.
Look how easy it has been the last 2 days for MM's or whomever to bring this down... The longs just on this board alone own a huge amount of shares and most or all of them are going to hold on to their shares like me (from my cold, dead hands...) but there are still others out there who short and manipulate and do what they do.
As Howard states, once the compliance happens, no one will be able to stop this...
And we really do miss Go...
But she will be rich from this someday and maybe we can throw a Sarissa Beach Party somewhere and all get together...
Cheers and now I am off to toil in the mines (South African Mine...)
ThegoodlifeGeo
I cannot be sure. Sounds like it is time to email Merle with a few questions...
Actually, I was saying another few weeks to start drilling (say a week to get the equipment there and a week to setup, pick the first hole and get started) and 4-6 weeks to start getting core sample tests back from the Assay company.
This may also turn out to be good for Sarissa as a startup time to send in Cores to whomever they will use for Assay. I heard the backups and wait times to get cores samples assayed in the Spring were crazy long, but now many mining concerns have started winding down quite a bit so wait times should be considerably shorter in Sept-Oct-Nov and going forward.
You also get into a kind of rhythm once the drilling is really going and cores are showing up at the Assay company every other day. They will have people dedicated to just Sarissa for the duration of the run and the reports will just start flowing.
Kind of like the Niobium and REE's will be once Mining starts...
Cheers,
ThegoodlifeGeo
I agree...
The onsite "Inspection" team from the drilling contractor will consist of the owner or manager and their lead driller/engineer. I wonder if it will be Scott, Lorne & Merle for Sarissa going up to do this???
It is also totally reasonable to expect that the drilling & other Equipment will be on it's way from wherever it is now at the same time.
In an email I got months back that stated that Scott & Lorne had gone up to secure storage space for any equipment that would need it. I would expect the drill itself will be kept onsite. I am also sure that the hotels in Chapleau are going to be Thrilled to no end that they could see business right through the winter from this... I doubt many travelers make their way through this area between November - March, so that will be nice for them.
So maybe another few weeks to get drilling going and 4-6 weeks to start getting results back.
The big question then will be how long before the results are made public. Scott may opt to get the assay results from a good selection of cores before releasing anything.
I am good with this. Better to have a good general picture of what Zone D looks like than release anything too early.
If the results are in line with the assay of the samples taken from the adit, we are going to be extremely happy...
We are getting closer...
Cheers Everyone!
ThegoodlifeGeo
A few people sent me questions this morning and I am just getting to them now. I will post what I replied for everyone.
As far as the "Final" signing of the drilling contract goes, what I can say is that no Drilling Contractor will sign a final contract until they have actually performed a site inspection.
I have been on several of these and the concerns they typically have are:
The exact topology of each proposed drill location (sometimes a mining company wants to drill in odd locations and it can be problematic)
The actual conditions of roads to all of the site. (Some of the equipment is quite large, meaning Big Trucks).
Living conditions (things have changed... Drillers have "Needs and requirements" these days like everyone else... lol), equipment storage and a few other smaller items.
Most of this is fairly routine and I do not see anything that would delay this any further.
I am Extremely Happy they have actually Chosen a Drilling Contractor!
I will also assume this contractor has the correct size/type drill specified by the Hawkins report and that it is available right now.
Access to this site is really not affected as much by Winter concerns as the mines way up in Northern Canada. I have actually made this drive right through Chapleau in late Fall and it was actually pretty nice weather. They do not get the deep snow nearly as much or as often as they do much further up.
I see no reason that they could not keep access to this site year round. The primary roads to the lake are all kept clear by the Ontario government (this is Canada Route 101) and all Sarissa will have to do is clear any snow (when they start to get any) on the gravel/dirt roads on the site itself. My property (35 acres) is at 6500 feet in the Rocky's and I have a John Deere tractor w/plow that I use to clear the 2 1/2 miles of roads that cris-cross my land and have no problem keeping it clear, even at that high altitude and with the huge amount of snow I get. Chapleau does not get any wheres near the snow I do so I really do not see any issues there.
All is good. After the inspection, securing rooms for the drillers & getting the equipment to the site is done they can Finally get to the real work... Drilling!
Drilling each hole (as others have already stated) will take 3-5 days each, depending on what they hit. Niobium is not the softest stuff to drill through, but certainly not the hardest. They also have an advantage of all the prior work and data from the earlier drilling so they pretty much know already what they will be drilling through. Huge Advantage for them!
I think we will have a very Merry Christmas...
And a Happier New Year...
Cheers All,
ThegoodlifeGeo
Awesome Find KS3000!
You get a Niobium Star for the Day...
That should cause action here tomorrow and if there is any news or info from Scott or Merle, who knows what could happen!
Cheers all!
ThegoodlifeGeo
But wait, if the Fed got Canada to agree to allow them to take over Sarissa, the the PPS would Soar! Why? Because we all know how much everyone loves the Fed... LOL!!!!
And a side benefit for the Fed would be that the Niobium alone would bail them out of all the bad debt from Freddie & Fannie!!
Win Win situation all over it!!! hehehehe...
Cheers,
ThegoodlifeGeo
There is absolutely no way this is going to .003
For that to happen Scott, Cam & Alan would have to walk away from this and give up...
I say we stay right where we are (between .012 - .017) until drilling is announced. Then we head back to the .02's - .04's until assay results are announced, then, IMO, we will see new all-time highs.
I am absolutely certain that Scott has no intention of giving up on Sarissa or the Nemegosenda property and it could be one of the richest mines that area has ever seen, and that area has seen some very rich mining over the years.
The current PPS is pretty much solely due to the issues they have been having getting drilling operations going with the shortage of both qualified drilling companies for this particular project and the lack of equipment in this region.
Once we hear about drilling commencing we will see a pps jump.
Then the first & subsequent Assay results that follow will be the next legs.
Keep cool folks, everything will be golden (or Niobium) on this eventually. We know what is in the ground, now the rest of the world just needs the assay results to believe it too...
Cheers,
ThegoodlifeGeo
If you truly feel that "the best days for this stock are behind it" then please go away and stop posting all this negative BS.
You are obviously not a shareholder and seem to have no interest in posting useful DD just a continuous steam of junk postings.
I am putting you on ignore and I suggest everyone else do likewise, but I will never understand why someone with so obvious a negative opinion would continue like this (unless of course there is something in it for you to keep posting negative stuff...)
If the Assay results from the core samples recently taken by Spooner and Associates are in line with the previous ones performed and they follow-up with a plan for mining (a JV or whatever their plan is) then this should see some nice jumps in pps.
As with most mining stocks you must have patience to stay in them for any length of time.
Cheers and good luck all,
ThegoodlifeGeo
OMG Rip, I MUST have one of those SRSR T-Shirts!!!!
The girl is cute too...
We should make a Bunch of these and get them out there for all to wear!
Such Fun...
Cheers,
ThegoodlifeGeo
Hey, wait a minute here! I heard it was 2 packs...
Anyway, I agree we should ignore Anyone who is just negative for the sake of being negative...
I am all for any good, real DD but am sick of reading some of these Ihub boards with the same people stating the same (mostly obvious) negative silly things over and over again.
I have said this before, but if you actually Own shares in a company and Believe in that company, you would Not keep constantly bashing it. It makes no sense at all.
Lets keep up the Positive vibes here as we all know where this is heading eventually. Maybe some positive energy will get drilling and results in quicker...
Cheers All,
ThegoodlifeGeo
And she wants SRSR to get the drilling going so we can start the climb up, just like the rest of us...
Go Rocks and someday we will be having a cold one on a beach in Brasil laughing about the days on Ihub...
Hope everyone is doing good on this weekend.
Cheers to Tex & Go & Shkinferd & Syracuseo & Piece & Leigh & Homey & Doberman & Sterling & all the rest of you crazy people out there who still Believe (like me) that Scott & Sarissa will do this for us & themselves...
Early AM Sunday here in S. Africa and I could not sleep...
I am ready to go home now...
ThegoodlifeGeo
Buying at .014
This is SOOOOOO Crazy!!!
I mean, I am not complaining mind you and I understand (partly) why, but I still think this is nuts we can buy this at these low levels...
Cheers,
ThegoodlifeGeo
So I guess it is safe to say that Scott K knows & understands that EU leaders are becoming more aware of the issues surrounding REE's and lack thereof in Europe...
Good for Us...
MAN I want that first drilling report to come out!!!!
Throw some hard "Official" assay numbers at the right people and where will this go??? I know where I think it will go , but I may be low as this goes forward and more become aware of just what they have down there...
Cheers All!
ThegoodlifeGeo
A friend of mine went to a conference last week in Frankfurt for EU High Tech and Auto Industry leaders where one of the main side topics was the report released by IW a few weeks ago that EU nations like Germany are in danger of being totally cut off from supplies of what they already believe to be Critically Low supplies of essential REE's unless they start partnering with mining companies around the globe who have these elements.
Present were several leaders of North American mining operations (I was told that there was at least one Keevil there as well... I do not know which one) and many side meetings were happening between various individuals and groups to discuss things.
I guess this report has been pretty widely discussed in high official circles in Germany since it basically stated that Merkel's government has no energy policy, especially where it concerns the continued flow of Raw Materials (Like REE's) since there is now a huge fear that China will stop exporting REE's and other metals to the West and is further starting a buyout of the minerals they feel they need for themselves by attempting to make exclusive deals with Mining operations in the rest of the world.
Anyone else out there besides me want to see a nice little bidding war between Germany & China for REE's???
Interesting times ahead...
I just put another bid in for more SRSR... (Adding to my SRSR-K fund...)
Cheers,
ThegoodlifeGeo
http://www.bloomberg.com/apps/news?pid=20601100&sid=aGCNRAkOUluY&refer=germany
Merkel Lacks `Consistent' Energy, Commodities Policy, IW Says
By Rainer Buergin
Aug. 25 (Bloomberg) -- German Chancellor Angela Merkel's government has no clear energy policy, the IW economic institute said, singling out for criticism plans to abandon nuclear power and insufficient action to secure foreign commodity sources.
``What we're missing in the area of government is a consistent energy policy, a consistent energy concept, and, as regards commodities, a clear prioritization of interests,'' IW economist Hubertus Bardt told reporters in Berlin today.
Merkel should raise pressure on governments such as China's that levy taxes on or even ban commodity exports, the institute said. Europe should speak with one voice on energy and commodity issues and push for a removal of trade barriers in bodies such as the World Trade Organization, it said.
The IW report highlights risks faced by the German economy, the world's third-largest and the biggest exporter of goods. It raises pressure on Merkel and the European Union to do more to safeguard the supply of substances needed for the production of stainless steel, jet turbines and fuel cells.
Chromium, molybdenum, niobium, platinum, tantalum and zircon top the list of commodities in ``critical'' supply because they're either controlled by a few companies or countries, will be exhausted in less than 30 years or are difficult to substitute, the Cologne-based IW said.
Fifty-four percent of German companies see the increasing scarcity of commodities as a risk, while 19 percent see it as an opportunity, the IW said, citing a survey it held this year. Nineteen percent said it poses neither risks nor opportunities.
``The problem with commodities isn't so much the physical availability, but rather the access,'' IW institute head Michael Huether said. ``A lack of competition, distorted competition as a result of government action and aggressive strategies by some countries on international commodity markets are serious problems.''
While natural gas exports from the Soviet Union were stable even in the Cold War era, Russia may use its gas reserves ``as a political instrument'' and threaten to limit deliveries, Huether said. In view of growing commodity supply risks, Germany should abandon the planned phase-out of nuclear energy by around 2023, he said.
To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net.
Last Updated: August 25, 2008 08:08 EDT
And you tell 2 friends and they tell 2 friends and so on and so on...
Pretty soon only our friends own the company
Cheers and Good Night,
ThegoodlifeGeo
The volume today also could be another kind of sign. Maybe someone is buying because they know (or think they know) that News is coming... I know drilling was slowed down, but we also know it should be any time now...
Remember the family we are talking about and the $$$ & power they represent in the mining world. At some point I would imagine some other "outside" investing will start to occur as news and events play out and sheer buying pressure from such a small float starts to work this stock upwards...
People out here over the last few weeks have re-discovered the fact that Scott did not just "happen" across the properties he added to Sarrisa Resources portfolio. Norman B. found these way back and Scott is going to bring them home and capitalize (Literally!) on these great properties.
To any of you who are procrastinating about buying more at these ridiculous .013's - .018's where it has been hovering for a long time might want to do so before the "blue light special" runs out...
All IMHO...
Cheers!
ThegoodlifeGeo
Me Too! I may have to wait until I get back to Colorado from S. Africa to add $$ to my trading account again and buy more (unless I sell some of my short-term stocks before that). I am having "issues" with my bank ever since I used my debit card at a bank machine in Johannesburg. They froze all ACH transfers and killed my debit card, so no transfers to my trading account at TDA to add funds until I sign a document at a branch when I get back. I got them to turn my debit card back on but they are refusing to let me do any electronic transfers.
Damn banks...
Cheers All,
ThegoodlifeGeo
I agree with turbo. This is not being flipped much right now. I would expect as Drilling & Assay results are being PR'd there will be the 'normal' day-trading activities going on here as the PPS climbs on the news.
After the first drilling reports are posted the PPS should see a nice rise then another rise on assay results and some will do the short-term profit taking route (which will be much, much more than 20% IMHO).
I don't see that currently happening on this one.
I also know of at least 4 people personally besides me (all longs on this board) who are still accumulating for their "retirement fund" (I've given up watching my 401-K and now have my SRSR-K fund instead...) and all have at least several million shares each.
I think people are so used to using the Huge Float strategies for investing that these penny companies typically have that they have problems figuring out how to handle a company that is not increasing their a/s or o/s every third Tuesday of the month.
The delays in drilling have only given us more time to buy
I still say this will be several decimal places higher by this time next year, but that is just my opinion. I know there are many smart people (longs) here who think the same thing, so I know I am not alone in my thinking...
Cheers Everyone,
ThegoodlifeGeo
Well, first of all, why would they? The "Keevils" are quite busy and prosperous doing what they are all involved with already. There are several descendents of Normal B. Keevil (I) working at Teck-Cominco, several others are Scholars and still most others are into totally unrelated (to Mining or Geology) areas...
Do you believe that just because they are "Keevils" or some are still into the Mining industry that they should go out and buy every piece of property that may be worth a lot in mining assets?
The other thing you seem to be forgetting is the Keevils ARE involved in this. His name is Scott Keevil just in case you did not know...
Once the drilling is going and the assay results are coming in some other in the Keevil family may become More involved with this. We will see...
If you are thinking that because the Keevil's who are in high positions at Teck-Cominco should buy this SRSR (Nemegosenda) property out and mine it themselves, they really cannot just do that. TCK is a Public company and I doubt it's investors (or Board) would be too pleased if they "Bought Out" any unproven mining claim no matter how good the "Preliminary Analysis" is...
The rest of the Keevil family are just people, like you and me, who are into a Very wide range of interests. Most have nothing to do with Mining despite the most famous family member...
So to all my friends out here, I am reporting to you all from the Mining town of Krugersdorp South Africa. I will be gone for a few more months so my posting will be sporadic...
Cheers to all the Great SRSR folks out there and a Special "Hi" to Elke...
ThegoodlifeGeo
"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all."
-Dale Carnegie
Hello Pennies. Jordan was right, don't bet the farm on Any penny, no matter how good it looks or any Divi they offer...
Heck, I was 0 for 5 when I first started. And I almost stopped a dozen times since, but keep at it.
Right now, as of tonight in my "penny account", I have 5 "Core" stocks (Long Positions) of a million shares each or more.
I have 6 "Short" position stocks of from 50K to 5 million shares.
Yesterday I had 7 shorts and last night I flipped out of 4 of those and bought 3 others. The 3 I bought last night all went up 100% or more today...
It was a Good day...
But it only reminds me of the Bad days (the days when I cannot seem to make ANY right choices!)
That is what happens to All of us some days, but I think it makes us tougher and smarter and in the end a better trader.
I have 5 million shares of this right now and may add more...
We will see what happens now, but I look at this as where can it go but Up?
There are a fair number of bashers here and maybe some have some reasons to be that way, but I always look at all of the available info and make a choice to buy or not.
That is all you can do. Find a few people out here to pay attention and use the "Olympics Method". Throw out the Very High and the Very Low marks and look at what is being said objectively...
Cheers and Keep the Faith,
ThegoodlifeGeo
"Believing in people before they have proved themselves is the key to motivating people to reach their potential."
-John C. Maxwell
No, the change in Symbol to TSHL has happened.
TDA told me they will have the new change reflected on their accounts sometime tomorrow.
It showed as closed at .001 up 100% from yesterday's close on TDA.
Cheers,
ThegoodlifeGeo
If they did a silent buyback of 4.5B shares and those shares are "retired", then I think the shorts are pretty much already dead once the pps goes up...
Heck, I would be happy if this ended up at .0005
Make 5x my $$$ and move on... Unless of course there is a cash dividend... Then I hold my shares and let them become 'free'...
I know some here are comparing this to some other recent movers that went from this range to .01, but I was not thinking this would do that. Hope it does, but will be happy regardless I think...
Cheers,
ThegoodlifeGeo
Hello Above,
I actually got it in this morning's overstock email, along with 3 others. I did not go looking for this, I just posted what I received. I would be happy to forward that email to you if you would like...
I was in this from May - July 15th. I sold most of my holding at that time.
Anyway, I am just watching and waiting to see what happens next.
May jump back in, may not, but it is fun to watch regardless...
Cheers,
ThegoodlifeGeo
Agreed... Just watching to see what happens for now...
Now if this went down to about half where it is now, then I would buy back in because it probably would go back to that .15 level or higher...
Like I said, interesting to watch...
Cheers,
ThegoodlifeGeo
Hey Bet,
Yeah, this one is always interesting to watch...
I am still hoping for a another run like the one from June 1 - July 15
I did not have that much in it, but hey, money is money...
Cheers,
ThegoodlifeGeo
Hi aabidali,
We have all been there brotha... Feel your pain.
I will post what I got from Overstock this morning about BWNR:
----------------------------
BWNR head fake on the flag trade. Should bounce heavy today. Watch for trades in the 14 cent range.
Brownstone Resources Inc. reports that a total of five surface samples from the "LS GRANDE" property in northern Arizona were collected for the purpose of analysis for gold mineralization. The five samples were submitted for assaying, with all samples returning positive results indicating the presence of gold.
The five samples were submitted to a lab in Vancouver, BC for "gold (Au) by fire assay" from a 1 A.T. sample, with a "bead" sample type.
Based on the historical assay information provided to Brownstone, the estimated potential value range for gold on the LS GRANDE property could be somewhere between .10 - .20 ounces of gold per ton.
The upcoming drill program is designed to test these target areas at depth, to a maximum of 400 feet. The company is in the process of fulfilling the requirements as set out by the US Forestry Service, required to commence the proposed drill program, and additional sampling.
Management will continue to keep investors and shareholders updated as our field programs advance.
Brownstone is a gold exploration company focused on creating value for shareholders by exploring and developing high-grade gold properties in Arizona. Details of Brownstones projects are available on the Company's website at www.brownstoneresources.com
Target: $2.00
--------------------------
Sometimes overstock is good info, sometimes not...
As always do that DD before buying Any pennyland stock and try to get in at the dips...
You may want to sign up on some of the penny stock watch lists (if you have not already) and just use them as a reference. They usually post info at the beginning of runs... Some go up because they post something (and sometimes they go down when they post stuff!!) so just to be used as a source of DD...
Good Luck,
Cheers,
ThegoodlifeGeo
I can tell you something for Sure.
"Howie" is truly one of Bet's Friends (and so am I) but You on the other hand are Not.
This board is Bet's Friends, not "Just another Ihub board for bashers to run rampant and spout crap".
And Howie appears to know more more "things" than you will ever...
Cheers to all Bet's Friends,
ThegoodlifeGeo
My goodness... I have never heard "Uncle Sam" talk like this before... Sounds like someone needs a time out... lol...
I still say that this is much more simple than this.
You eventually get what you give... If you spend your entire life using people and making your living off the backs of others, you will not be well rewarded at some point...
Too many people have been hurt in recent years.
There is an accounting coming that will shock even the hard core investment types. No one will be exempt from this one. There are People up at the top who still think they will be hiding behind some words that will be totally meaningless when they are looking for heads to mount...
I am still blown away about just how clueless some people are...
Cheers and Goodnight All,
ThegoodlifeGeo
Yes, it works. It is a PDF file...
Interesting stuff too...
Go Here:
http://www.londonstockexchange.com/LSECWS/IFSPages/CompanyProfileDownload.aspx?sym=GB0002789591GBGBXAIM%200278959AFN
It kind of blows the large holes in the statements by various admins here who say - We run a totally unbiased information board and have no personal interest in the success or failure of the stocks being discussed.
hummmmmmmm
Cheers,
ThegoodlifeGeo
The Hawkins Report is where you will find the recommendations for both Phase I & Phase II Drilling.
You can see the basics of the report here:
http://www.sarissaresources.com/pages/posts/sarissa-announces-release-of-independent-report-on-nemegosenda-property30.php
Link is here to the PDF:
http://www.sarissaresources.com/media/hawkins_report.pdf
Look at the Recommendations section for the type and spacing of holes to be drilled.
You may already done this, but you should also read all the reports, including the latest one from July 21st with the Assay Results of samples taken from the Adit. They give a lot of information that may take a while to digest, but worth the time effort if you are serious about investing.
I think that Sarissa is doing everything it can to get things done.
Cheers,
ThegoodlifeGeo
Is this not why they invented Fly Swatters???? lol...
Cheers,
ThegoodlifeGeo
Hi Go,
Die allerbesten Geburtstagswünsche send ich dir,
sie kommen vom Herzen, sie kommen von mir.
All the best birthday wishes I send to thee
They come from the heart, they come from me.
Cheers and have a Great BirthDay!!!!!
ThegoodlifeGeo
No, just keep going until you get your official "5 posts/day" notification... lol...
Cheers All,
ThegoodlifeGeo
a.k.a. "George"
My dog just called me George... What the heck is going on here????
LOL....
I am pasting a link about Junior Mining News and other mining news & links...
http://www.mineweb.com/mineweb/view/mineweb/en/page66
Cheers,
ThegoodlifeGeo
So I guess I am only doing this half-right at the moment... I am all red this week...
Cheers,
ThegoodlifeGeo
Yes, but no one posts their actual tax returns. They post 10k's and any other required information.
And we are not even talking about whether they made money this year or last year. I do not even care about this. The money for Sarissa (and us) is the mining of Nenegosenda. Then whatever follows that.
My only concern with getting the Audit completed is so Sarissa is not waiting for the audit company to "finish" when they are ready to file for uplisting.
I want to re-iterate:
I do not think there is ANY fault on the part of Sarissa here at all.
If there are issues outside of Sarissa's control (vendor related) they are Entirely on the heads of the Audit company to resolve and Sarissa needs to be sure they do not let the audit company state otherwise.
Seriously, an end date for completion is always in the audit contract.
My main point was that Sarissa has rights here. They need to get the Audit company to do their audit inside the contract date or get their money back...
This is not Sarissa fault, it may be their problem, but it has remedies within the legal system. What if this was an audit for an event that had been planned or required for a specific date?
It is possible that Sarissa has not been pushing due to the fact they are not quite ready to uplist yet. That is the primary reason for this audit so I guess as long as it is ready when Sarissa is ready to file...
Cheers,
ThegoodlifeGeo
You know, I have to say I was thinking the same thing...
This really does not really make much sense.
I did technical audits for years for KPMG.
Here is how the general Audit Process works:
The Company requesting the audit meets with the Audit company.
They agree on the Scope of the Audit and define a set of Requirements based on the reason for the audit.
All the information that the requesting company is required to provide is typically right there onsite, or easily obtained.
There is also a Clear definition of when the Audit needs to be completed. This is ALWAYS in the contract.
Most of the time the Company requires the Audit for a reason (Like perhaps an IPO or a Planned Uplisting or as part of their Yearly Processing, which needs to be completed by a specific date).
Each member of the audit team is given a set of tasks.
Each task has a Start date and an End date.
The person performing each task is Required to complete all their assigned work by a specific date. If a specific task cannot be completed due to a Vendor issue or cannot be contacted (a person is in the hospital and cannot provide the requested info... A Large Rock falls on a vendor's building destroying all their records... A pack of wild dogs ate all the invoices) then it is noted and they move on. It Does NOT, EVER stop the audit. If this were the case, no audit would Ever be completed...
All the reports and tasks are funneled to the person responsible for consolidating all the info and creating the final Audit report.
Any outstanding items, unless truly deemed "Critical" are simply noted and the report is finished.
If this Audit Company is trying to say they cannot complete an audit because they cannot get information they require, unless Sarissa is the provider of this particular piece of information, that is Not Sarissa's fault or problem.
I cannot even conceive of this happening. I was involved with literally Hundreds of audits and we Never missed a target date.
Not only does this Void the Contract (and at that point the requesting Company would not be obligated to pay) but there are Huge legal and other consequences beyond just being late and losing money. The business of preparing audits, financial and technical, is Very tightly controlled and the audit firm could lose their licensing or worse if they do not meet their obligations.
It sounds like this audit company needs to get their act together. If I were Sarissa and assuming the date for audit completion has passed, I would be making some demands right now and not just waiting for this to happen.
JMHO...
Cheers,
ThegoodlifeGeo