Sarissa Resources Inc (SRSR)

[webpence]

Undersell is right, but forget that one SMD, I want to hear others responses to this one...

http://investorshub.advfn.com/boards/replies.aspx?msg=54599473

As far as my reading of what I quoted in that post, it looks to me like prefeasibility is underway and has been for some time. They also have the historical metallurgical testing from Dominion Gulf.

I also mentioned the CIM standards that appear to support the ability to use prefeasibility data as justification for reclassifying indicated resources into probable reserves.

So, what does anyone else think about the possibility of seeing reserves in the NI report?

Are we at that point yet? Or will we only see indicated resources?

Kuzami pointed out that flow through shares are only for companies in an exploration phase, and now Dahlman Rose is in the picture. So, all of this seems to point towards SRSR exiting the exploration phase and entering the development phase of the project.

If so, this is an incredibly significant event that has certainly not factored into the current share price.

Look at the language used in this news for a copper miner...
http://www.copperfoxmetals.com/s/NewsReleases.asp?ReportID=281170&_Title=Copper-Fox-Releases-Positive-Preliminary-Economic-Assessment-on-its-Schaft-...

and again, this time from the Copper Fox release...
"By the CIM Definition of Standards on Mineral Resources and Mineral Reserves, a mineral reserve has to be supported by at least a prefeasibility study demonstrating economic viability of the project. It is recognized that the term "ore" cannot be used unless it is associated with a mineral reserve, however, the word "ore" is used in this press release to refer only to mineralized material within the resource and mill feed that would be delivered to and processed in the proposed concentrator."

Reading all of this, I'm thinking that SRSR is getting ready to hit us with a fantastic NI report that includes the results of prefeasibility.

But then I look at this part of the 6/3 PR...

"The current exploration program will focus on:

1) Updating the resource calculations in the Hawke Zone,
2) Further exploration to continue to test the lateral and depth extensions of the Hawke Zone,
3) Defining the size of the South East Zone mineralized area,
4) Defining the additional property potential along the remaining magnetic circular structure, including airborne geophysics,
5) Preparation for a project scoping study."

I'm beginning to wonder if this was intended to be an ordered list or not? But which is it?

I haven't been able to reconcile "Preparation for a project scoping study" (6/3/2010) with "The investigation should be considered as a scoping or pre-feasibility study to establish a baseline flowsheet for targeted product recovery.(9/26/09)

Thoughts?