Replies to post #147746 on Sarissa Resources Inc (SRSR)

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Also niocorp production costs for nb is $25/kg. Surely, someone would be attracted to a nio-star project where the cost per kg was half of that.

Their capex is 920 million. Surely, someone would pony up $35k for a nio-star project with a capex that should be 1/3 or 1/4 of that.

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Dan had a plan and carried it out for most part. The stumble was the damn drill hole locations, but last I heard, more drilling is not needed, just the reassays and resource calculation. Just $35k for that, but they want to do those 2nd phase recs from the report too. But again is just another 80k or so.

Dan stated pretty clearly that the reason they were not getting a resource estimate is that RPA was going to tell them exactly where to drill so they could get one.

They do need to drill more. They were supposed to twin 4 or 5 holes if I remember right.
They drilled 1 correct?

That 1 was in the wrong spot. So it needs to be drilled again as well before they can get a PEA.

IMO it will be 5-10 holes required.
This is why he is listing before the PEA.

Niostars listing is a reverse split and allows them to dilute for the cash needed to get the PEA.

So there is more drilling to be done. But first we wait on the listing and dilution which IMO wont happen till the CTO is lifted.

We have at least 6-12 months before we see a PEA and that is only if they can get the cash and start drilling before the end of summer. If they don't get the spin out and cash by September it will be an extra 6-8 months.