Sarissa Resources Inc (SRSR)

[persuaner21]

After month of absence I have to post something ;)

Some answers from new IR mail. Seems that Byrnes takes the communication with shareholders serious. I deleted my email and name of course. It is copy paste

Re: questions srsr
From:
[e-mail]




To try and answer your specific questions.



Yes, some of the funds that have been committed to the company will be used to spinout Niostar as a standalone entity on a higher exchange than Sarissa presently has. A final determination of the specifics is underway.



It's important to understand that every move the company makes has repercussions on other plans the company has. Each step requires a cost benefit analysis of the pros and cons. Also it requires a consideration of how today's decision impacts the flexibility to make future decisions. This is a marathon not a sprint.



There are several options being considered for the listing and spinout. Shareholders will be notified which option the management team has chosen as soon as possible. The work already taken place is required regardless of the final option chosen.



The company is planning to host a call as soon as we have our ducks in a row for investors to ask questions and get further clarity on things. This may be a good time to present the available options and educate investors on the process as well as the pros and cons of the different options available.



The listing process time frame is highly dependent on the option chosen. While all options will require audited financials which are underway, significant legal work as well as an updated NI report. However most of the time frame is not within our control but dictated by the securities regulators and exchange regulations. This is a process that take a lot of time and you are dealing with independent service providers and government regulators, few which share our desire for urgency. It will happen as quickly as we can but at this point it is too early to define a time frame, but it should be completed no later than early 2015 and we be sooner if we can. Most important is it's in progress and investors will be regularly updated on the progress.



The drilling program and other geological work will be continued as soon as we can but the spinout and up listing is the higher priority at this time. We know the quality of our resource and while we need to bring it into compliance with the current NI43-101 regulations we have great confidence in our historical data.



What many investors don't understand is that the geological information is a big part of the listing process. The exchanges don't allow for open geological work to be ongoing while a listing is ongoing. All geological information needs to be updated as part of the listing process. So you can't necessarily accomplish both at the same time.



So we are meeting with the geologist who is going to update the Ni43-101 report for the listing and see what we can accomplish with in the time frame needed to update the resource report for the spinout and listing. We will accomplish all we can as fast as we can but it's not as simple as many believe. It requires balancing the various priorities and time frames while working with independent service providers.



Ben Ward is no longer directly involved as an officer or director but remains a friend and a resource to the company.



I hope I was able to answer your questions. If you have further questions or need additional explanation please feel free to contact me.