SRSR at the PDAC!!!MUST READ! From Bullrun by way of Texas Ripper at the Junior Mining board:
Posted by: Texas Ripper Member Level Date: Monday, March 08, 2010 1:24:32 AM
In reply to: None Post # of 7585 Send a link via email Share on Facebook Tweet this post
Posted by: Bullrun2004 Date: Monday, March 08, 2010 12:17:50 AM
In reply to: None Post # of 78697
Hello SRSR shareholders,
I attended the PDAC this morning, got to the booth around 11:00am. Scott remembered me from last year (which was nice), and we had a little chat. Now mind you i didn't ask a bunch of questions regarding the drilling aspect of the business, but i'll let you know what we discussed.
First of all there are 3-4 holes that are in the process of getting essayed and results of at least one of the holes should be out within 1-2 weeks. He understands that the company has been quiet lately, and states that will start to change soon. Once the rest of the results come from the drilling, the company will update and complete the NI 43-101 report.
The company will then like to start the process of a feasibility study (which could take up to 18 months and around $25 million). Now to get the access to that type of money, they will do a JV with another company. Scott did say they have been approached by many companies with interest of doing a JV, but they are looking for the right deal. He did say it probably might be with either a Chinese company or a company in India that need the resources.
SRSR will also start drilling again on the Shining Tree property in June.
The stock options that are expiring this August @ .02 (around 50 million shares) are if exercised, will be restricted for 1 year. Scott stated a portion of these options are his, and will exercise them.
In a nutshell company will be completing the NI 43-101 report as well as do a JV with a company this year.
Personally, after speaking with Scott at the PDAC show for 2 years in a row, i am extremely confident we have a winner, just sit back and enjoy! Cheers:)
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