Replies to post #71719 on Sarissa Resources Inc (SRSR)

[fxchat]

This is an extract from the NI41 report. Recommendation to gain NI41 standard.
COsting SARISSA $1.8mln
"The next phase of drilling is recommended to extend the deposit to the northeast, east and southeasterly from its known limits within the ‘D' Zone The nine hole drill program completed by Sarissa during 2008-2009 support the potential for strike and dip extensions to the known mineralized zones.
At least two rows of additional holes are required which would further delimit the ‘D'Zone mineralization. It includes at least two new grid lines of drilling, one 50 metres north, and the other 50 metres south of the three drilled grid lines already drilled by Sarissa, to be completed during the next exploration phase.
The aim of the next phase of drilling is to fully delineate the ‘D'Zone Niobium mineralization and to bring the resource and previous reserve estimate to fully NI 43-101 compliant standards for future reporting by the company. A number of "cross-over" drill-holes at -45 degrees to verify that the vertical drilling results of historical drilling is recommended.
A detailed preliminary metallurgical testing program is also recommended for inclusion in the program as a Phase two follow-up. It is to be undertaken as soon as possible to further support the economics of the project.
The ‘South-East' Area warrants further exploration ad diamond drilling to confirm and expand on this potential resource as well. Drilling is to be done along a systematic UTM grid system and backed up with "cross-over" drill holes to confirm historic drill results and as an aid in determining the dip of the deposit."

The next info are from SARISSA website

"At the Company's Nemegosenda niobium property a summer program to drill a further three holes in the Hawke Zone (formerly the D Zone) has concluded, as previously announced. The core from these holes is being logged and sent for assay. As a number of holes from the past year's drilling have ended in mineralization at vertical depths around 200 metres, the Company has decided to bring in a larger drill rig to allow for further depth testing of the mineralized zone from these and other holes. This next phase program is expected to commence in October.

Further exploration this summer also expanded potential mineralized areas of the SE Zone. A follow-up drilling program is being planned to test potential mineralized extensions of this zone. The SE Zone "occurs 1500 metres south east of the Hawke Zone). From the 1955 and 1956 drilling programs by Dominion Gulf, plus re-assaying of nine drill holes by Musto Explorations in 1988 which covered this area, a historical resource of Niobium mineralization was indicated to exist within an area of some 700m X 250m to a depth of 200m" ("Technical Report on the Nemegosenda Property for Sarissa Resources Inc." - July 21, 2009-Billiken Management Services Inc.)."

So has Sarissa started addressing the problem?

Any one knows how long more before SARISSA can start mining?

[konastitch]

"Dismal NI report"......

Oh. Boy.

Somebody else want to take the lead on this one or should we just let it go entirely?

Anyone? Anyone? Bueller?

And just so everyone is clear, we're looking at a SPNG & EESO player here, so feel free to draw your own conclusions...

[dmbao]

I am not sure how one can deduce that the NI report was dismal. It showed improvements of 2X plus from the historical Hawke Report from Spring '08. It shows a significant mineral find. The report suggested the next steps to be further defining the scope of the mineral find as well as what I believe is a feesability study which will provide details regarding ability to extract the and process the minerals and at what costs.

If you think they should be mining already you clearly don't understand how this works. They do not have the ability to raise the necessary funds to create a mine here on their own. The costs of that would be multiple times the present market cap and they have limited shares available in the AS to sell.

So they have to prove up the minerals and use the fessability report to enable them to negotiate with larger players who can put up the money for the mine. There are multiple ways this could happen.

This is still going to take some undefined time frame to play out.

The board including me made the nistake that a NI report with billions would be enough to start to close the gap between the small market cap and the huge value in minerals, it wasn't although in the past there are examples where that was enough.

While we haven't seen the results of the summer program for SRSR it is expected that it will significantly increase the mineral reserves as well as the are msking progress on another property containing what may be a significant gold find. This news will only increase the discconect between mineral value and market cap.

It seems to be the thought here that it will take the financing part of the equation completed before the disconnect between minerals and market cap begins to close.

While folks here are sick of hearing it the missing ingreedient missing at SRSR is a catalyst that will being new significant buying to the stock. The shares are tightly held by long term investors so large scale buying can have a very significant impact on the share price.

So while we wait for the necessary developements to happen or significant savy buyers to get involved the small daily volume will rule the day and and we will continue the present ebb and flow in the price.

I wish I new the time frames we are looking at but it doesn't seem like any of us really understand what it will take but the long term risk vs reward is very favorable here in my opinion. Short term doesn't matter much as you would have a hard time buying 20 million shars today with no price impact. For now the only buyers are weakness buyers, we need buyers to be compeled to buy at the ask and we'll move fast but there needs to be a reason for that.

My thoughts is buy now and keep buying if the price falls but things could change fast and one might miss the boat. I don't expect the next large spike to be followed by the same type of drop we experienced this time because the events that cause the next movement will be more concrete in putting a value on things.

A IMHO.