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Re: None

Thursday, 07/31/2008 12:25:07 AM

Thursday, July 31, 2008 12:25:07 AM

Post# of 165854
Ok...Here is a synopsis of my call with Merle. All kinds of information including background on Merle...so here it goes.

He is very friendly and easy to talk with...He loves working for SRSR and he knows that the 20M of Nb is just the TIP of the iceberg.

1. Merle and Scott go back 12 years. He has done small projects for Scott in the past.

2. He has 25 years of mining experience.

3. He is month to month but hopes to stay on until the Nemegosenda project really takes off.

4. As previously stated...we will have only one DRILL. It is impossible to put a timeline on Phase 1 because in Merle's experience there can be broken drills and no supply to replenish them, there can be crew issues and other unforeseen things like difficult rock formation that are harder to cut.

5. The same goes for the Core analysis timeline...too hard to predict. The labs are as busy as the drillers, and probably more so.

6. Only Zone D will be drilled this year...this is the best approach to get the "most bang for your buck." There will probably be some winter drilling program but this will happen AFTER Zone D is proven.

7. 6" drill cores allow for radioactive testing to be done which helps in specifying areas to concentrate on for Phase 2. It also validates the analysis of the core samples.

8. AFs are paid for but there are delays in the paperwork...it could be a simple as some receipts that need to be signed off as business expenses. Once AFs are done...they will be submitted to the SEC and then they will work on the other steps for uplisting. This is a PARALLEL task to the drilling but the drilling is FIRST.

9. I asked about the Uranium concentration being economically valuable...Merle said with all the Niobium that the Uranium and Tantalum etc. will be the "icing on the cake."

That is everything...

I am sorry about the news on the drilling contract but they are working with a couple of contractors on terms and getting a drill ready. We are CLOSE to getting this done. We all need some patience and whether we like it or not...the MMs will do what they do. Merle was even explaining about the way they manipulate and how he can tell what will happen just based on the MMs and their position on the bid and ask.

Good night or good morning depending on when you read this.

Go SRSR.

homey_g