Sarissa Resources Inc (SRSR)

[OntaREEo]

Trip report, part 2 of 2

Scott and Drew were very friendly, engaging, down-to-earth people. We quickly got the sense that they made an excellent team. They are frugal in all they do, big and small. They talked about how they could have gotten a fancy office in Toronto, but that was not their style, nor was it necessary. In fact, their storage location in Chapleau also serves as office space and lodging, and my quick musing of the numbers made me realize they are saving decent money this way. They were in the process of negotiating huge discounts on drilling from the summer peak prices I had been quoted by some drilling companies. Drilling towards compliant resource designation was clearly their main focus, and they seemed intent on expediting that process. That is an important designation in the mining industry, and it will help the world take notice of Sarissa’s assets.

There was also clear progress towards audited financials and uplisting, although compliance was more of a priority. IMO they have a defined strategy on these issues, but they did not want to reveal too much now. IMO Scott has a clear sense of how to maximize shareholder value. On the one hand he is prepared to develop this property all the way to a mine. On the other, if the right offer came along he could do a JV tomorrow. I feel very confident holding several million shares with Scott and Drew running things. I will tell you there is zero possibility that this is a scam. That does not guarantee successful development of his strategy, but I have every bit of confidence in Scott’s ability to execute. And given the continuing strength of niobium prices in the global downturn, I am less worried about that as well.

One more thing – some investors have expressed their impatience in securing a drilling contract, and I had been in and out of that camp at times. But now IMO there really hasn’t been any delays, but in some cases important things were happening behind the scenes. On more than one occasion Scott and crew were working on essential matters outside of the project’s primary path, and made huge and critical progress. But I can understand how quiet stretches can lead to that reaction.

We should be good from now on. As the last PR said, we are in for an exciting time, and within a short time frame we expect 43-101 compliant resources!