Sarissa Resources Inc (SRSR)

[dmbao]

You really need to grasp some mining concepts to understand that you don't raise all the money needed to complete the entire business plan before you start.

Companies are built in steps.

A mining project like most business plans is done in steps.

Since Scott took over as CEO he outright purchased the property and raised the financing necessary to do so. He then began to perform the geological work necessary to get the project to the pre feasibility point. Once again he successfully raised the necessary financing to achieve that.

Now we are at the pre feasibility step and he is in the process of securing that financing presently. One would have assumed based on his ability to secure the other financing along the way that this would already be completed but two parties who signed LOI's and paid the company cash for exclusive periods were not able to fulfill their obligations in the LOI's so Scott being the savvy CEO he is moved on to other interested parties.

So this setback caused by outside parties has delayed progress a bit but since history tends to repeat once can rest assured that Scott will raise the necessary capital for this stage on the business plan just like he has previously under his time as CEO.

Here are the steps

It the same plan every exploration company follows. Any mining investor with even a remote amount of knowledge knows the steps they don't need to be PR'd.

1. Discover a property with potential, this takes most mining companies years. For Scott it took months.

2. Get an option on the property. Scott just went out and outright purchased it with capital raised during the worst mining environment in our lifetimes. Most exploration companies never achieve this

3. Perform enough geological work to ready the property for feasibility studies. Most companies never get this far. Scott has already achieved this

4. Raise funds for feasibility studies and complete them. This is the step we are presently at and in the worst environment in our lifetimes has gotten several potential deals to LOI stage and gotten paid for exclusives. This is unheard of in exploration plays to get paid for exclusives.

5 Complete feasibility studies. An obvious no brainier as the Colorado School of Mines has essentially proven this already.

6 Build and finance mine.

7 mine

He is well on his way to step #7 in shorter time frame than most even considering he is operating in an environment where most of his peers are facing closure.

You keep claiming he hasn't secured financing for five years?

It's pretty obvious you are wrong he has successfully funded each step as the company got to that point.

1. He raised the funds to get control of the shell and create a true exploration company with the rights to a property.

2. He than raised the financing so that the company could outright own the property unencumbered.

3. He than expanded the property holdings and once again raised the necessary capital to own the expanded property outright and unencumbered.

4. He raised the funds to perform the necessary geological work to get the property ready for feasibility studies a level most companies never reach let alone with 100% ownership.

So now he is working on the JV to take the property through feasibility.

Pretty clear his ability to achieve in this difficult mining environment while avoiding the pitfalls the uneducated mining investors around here call mistakes or incompetence constitutes savvy.