Sarissa Resources Inc (SRSR)

[marketphile]

Spoke with IR this morning

They're planning their next move with regard to the niobium property, and they will definitely be drilling this season, hopefully twice. They will probably pay for the phase I drilling and analysis themselves ($300k to $400k), because they don't want to get taken advantage of via a partnership at this point. They have lots of interest in partnerships already from big entities, but they feel that the stock price is significantly undervalued at these levels, so they don't want to enter into any agreements that would negatively impact shareholder value. They feel that once they prove up what they have (e.g. confirm the reserves in zone D, confirm the existence of tantalum, uranium and other REE's, confirm that the east zone hosts at least as much niobium as zone D) and get off of the pinks, the stock price will better reflect their assets. To sum up, they are reviewing all of their options for the phase I drilling program and will pick the one that maximizes shareholder value, being shareholders themselves.

Also, I confirmed that Scott's 30M restricted shares can not be sold for 2 years, and they (management) have been buying shares in the open market as well. :)