Replies to post #158859 on Sarissa Resources Inc (SRSR)

[Suvorov]

Actually es1 you are incorrect on Shiningtree claims.

In fairly recent Ontario mining claim law a company or a prospector has to agree with the local native tribe, in this case the Matatchewan Cree , on a Memo of Understanding (MOU) on what royalties or rights the tribe will obtain on the lease before one can do major work (drilling) on a claim. A drilling permit is provided by the MNDM once the MOU is signed.

However, the law was written hastily and without much forethought and left a HUGE loophole.If you don't do an MOU with the Indian tribe the claim is 'frozen' such that one can retain ownership over the claim indefinitely without paying a cent in assessment work

All prospectors, companies in Ontario are aware of this and are aggressively exploiting this loophole.

Dan, Mr. Stupid, didn't understand this, nor did he contact someone who did. Shiningtree could have held onto the Otto Township claims (2,000 acres) indefinitely or until a proper offer was signed.

Former Shiningtree management understood this and had a wonderful retention plan for the claims.

So either Dan was stupid, or he took a backhander, its that simple.