Sarissa Resources Inc (SRSR)

[dmbao]

I am not sure how one can deduce that the NI report was dismal. It showed improvements of 2X plus from the historical Hawke Report from Spring '08. It shows a significant mineral find. The report suggested the next steps to be further defining the scope of the mineral find as well as what I believe is a feesability study which will provide details regarding ability to extract the and process the minerals and at what costs.

If you think they should be mining already you clearly don't understand how this works. They do not have the ability to raise the necessary funds to create a mine here on their own. The costs of that would be multiple times the present market cap and they have limited shares available in the AS to sell.

So they have to prove up the minerals and use the fessability report to enable them to negotiate with larger players who can put up the money for the mine. There are multiple ways this could happen.

This is still going to take some undefined time frame to play out.

The board including me made the nistake that a NI report with billions would be enough to start to close the gap between the small market cap and the huge value in minerals, it wasn't although in the past there are examples where that was enough.

While we haven't seen the results of the summer program for SRSR it is expected that it will significantly increase the mineral reserves as well as the are msking progress on another property containing what may be a significant gold find. This news will only increase the discconect between mineral value and market cap.

It seems to be the thought here that it will take the financing part of the equation completed before the disconnect between minerals and market cap begins to close.

While folks here are sick of hearing it the missing ingreedient missing at SRSR is a catalyst that will being new significant buying to the stock. The shares are tightly held by long term investors so large scale buying can have a very significant impact on the share price.

So while we wait for the necessary developements to happen or significant savy buyers to get involved the small daily volume will rule the day and and we will continue the present ebb and flow in the price.

I wish I new the time frames we are looking at but it doesn't seem like any of us really understand what it will take but the long term risk vs reward is very favorable here in my opinion. Short term doesn't matter much as you would have a hard time buying 20 million shars today with no price impact. For now the only buyers are weakness buyers, we need buyers to be compeled to buy at the ask and we'll move fast but there needs to be a reason for that.

My thoughts is buy now and keep buying if the price falls but things could change fast and one might miss the boat. I don't expect the next large spike to be followed by the same type of drop we experienced this time because the events that cause the next movement will be more concrete in putting a value on things.

A IMHO.