Replies to post #7262 on Sarissa Resources Inc (SRSR)

[jim6103]

sterc....your question:

"the $141,000,000 is obtained from SRSR as you mentioned, where would you placed that within the SRSR financials?"

The $141,000,000 is not earnings or an asset as yet. I obtained this figure based upon how the market is valuing some other exploration company reserves. I used 3 percent of the market value of the resource (188,000,000 lbs niobium X $25/lb X 3% = $141,000,000. This is nothing more than an educated wild a-- guesstimate.

This is just a real rough estimate of how the market could value this when the company does more to prove up the resource.

This figure would not be found in the financials. When they have NI 43-101 compliant reserves, they can then place a value on them and hold them as an asset on the balance sheet. There are different categories of reserves and treated a bit differently. Until we drill the property and prove up reserves, nothing will happen on the balance sheet. All we got right now is one heck of a lot of potential and high hopes.

Have a good one and go Packers!....Jim