Sarissa Resources Inc (SRSR)

[downsideup]

LOL!!!

You say I'm "Completely Incorrect"... then post a link that does more to prove me right than the opposite ?

CHINA DOESN'T NEED OR USE 43-101 STANDARDS IN THEIR EVALUATION OF MINERAL PROSPECTS.

PERIOD.

THEY HAVE THEIR OWN STANDARDS THEY ARE REQUIRED TO APPLY.

They will apply their OWN rules, not Canada's, in determining what they think of the prospects they consider. Why that puzzles anyone is a mystery to me...

"So in short, they will be required to complete the feasibility if they plan to public list this JV. "

No.

As your own post points out... if they opt to list in Hong Kong, they could choose to apply JORC or SAMREC standards instead of NI43-101... which still assumes, without any evidence I'm aware of, that they've announced that they intend to list the JV ?

They have options... including choosing to not list the JV... and, your posting of a link doesn't address what it means that Hong Kong accepts multiple standards ? If they do choose to list the JV in Hong Kong, it might make more sense to apply JORC standards than Canadian standards ?

What Hong Kong does in changing their rules while trying to encourage more foreign mineral exploration companies to list their shares in Hong Kong, which effort includes enabling the application of multiple standards (43-101, JORC, SAMREC) really has nothing at all to do with what the Chinese SOE's have to consider in working to meet their own future needs for imported minerals ?

http://chineseculture.about.com/library/china/whitepaper/bl2003mineral05.htm

There CLEARLY is a rational process being applied in considering the priorities in the sequences of events that are apparent in the effort advancing the development of Nemegosenda. That process is clearly vastly more rational than most IHubbers posting of irrational and irrelevant garbage. That process INCLUDES prioritizing the work required to report the resources under the 43-101... but, it doesn't appear to prioritize that work ahead of doing the similar work that is required to enable the Chinese partners to evaluate the project under Chinese standards...

The Chinese standards have different requirements than NI43-101.

The work we can see SRSR doing over the last five years... appears to be vastly better correlated with the Chinese requirements than it is with the NI43-101 standards.

That makes perfect sense, too, given that SRSR's preferred development partners... are Chinese industrial mineral CUSTOMERS (who apply Chinese standards in their evaluation) and not Canadian retail investors... whose needs the 43-101 is designed to address. So, seeing SRSR applying their limited resources mostly to addressing the information requirements and the needs of their Chinese partners... first... instead of addressing the requirements of retail investors under the NI43-101... seems that it makes perfect sense.

Having made that choice... appears it is going to result in SRSR completing a deal with Chinese partners, addressing Nemegosenda on the basis of Chinese standards... that seems it will both enable accelerated development of Nemegosenda, and result in SRSR retaining a 49% ownership interest in the project as it moves from exploration and development into production... all BEFORE they begin addressing the different issues that the NI43-101 standards require they address.

China will be participating... and is participating now... in enabling work advancing the project, prior to the JV completing work on an NI43-101 compliant feasibility study...

That doesn't mean they're "guessing" about how the project measures up against other potentials evaluated under relevant Chinese standards...

And the aggregate impact of all of the above STILL makes it VASTLY better for SRSR shareholders... to have the company management ignoring the issues with Canadian standards under the recently revised NI43-101... while prioritizing efforts addressing known Chinese standards instead.