Sarissa Resources Inc (SRSR)

[WidowMaker]

Recapping and adding to Birdman101's earlier post:

Dahlman Rose co-managed Molycorp's IPO at $14 in July then today they raised their target price on Molycorp from $49 to $85. This is based on known remaining reserves at Mountain Pass estimated to exceed 20 million tons of ore as of 2008, using a 5% cutoff grade, and averaging 8.9% rare earth oxides. Today, their share price closed up 15.23% at $57.50
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From the PRs issued by Sarissa:

Firstly, the 'D' Zone area likely contains a minimum of 20 million tons grading 0.45 % Nb2O5 and perhaps upwards of 40 million tons that was indicated by the previous programs and that the 'South-East' Zone likely contains another 20 million tons grading 0.35% Nb205 and both have good potential for hosting further resources of Niobium."

To date, current and historical exploration work has only tested 2.8 kilometers of the 13.9 kilometers of the circumferential strike length of the Nemegosenda Intrusive Complex's outer rim, consequently the exploration potential here is significant."

My understanding from the above:

From the above PRs, Sarissa has inferred anywhere from 40 to 60 million tons in the 'D' Zone and 'SE' Zone. Secondly, they have only tested 25% of the circumferential Intrusive Complex's outer rim. In my opinion, the use of the word "Significant" is a vast understatement. "Mind Boggling" would be more apt.

Me thinks, we may be selling ourselves short with dreams of $5.00 per share. We may have spent too much time as a penny stock and it may be clouding our senses of the true market value.

Just my 2 cents based on the information available to date.

You may want to revisit Webpence's post # 87741 Sunday, September 05, 2010 3:28:24 PM

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