After falling off it's high of $.209 SRSR appears to be gaining traction for another push higher. The stock plunged as low as $.062 before regaining some strength above $.10. Friday's $.10 close provides a fork in the road for investors.
Should SRSR surge ahead and close solidly all week above $.10 then $.20 could be coming in swift order. However a bout of selling would leave $.10 as a point of overhead resistance, and likely thwart another test of the $.209 high.
Either way it should be an interesting stock to watch this week.
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"Gold" 53.9 gm/tonne (1.57Oz./Tonne) Shinning Tree News"
"Shinning Tree exploration results of strippin & blasting. First results from the summer program at its gold property project in Northern Ontario. The property has strong merit and a 43-101 a complicated technical
report is being prepared.
The Shining Tree Gold Project.
Drilling has been completed at the Shining Tree gold project where 2 holes totaling 300 metres were drilled of the exposed stock-work systems. Logging the cores is now underway.
PR is on the 100% owned Niobium property in northern Ontario.
Nemegosenda Property
The trenching progam was cunducted in the middle of the SE Zone, where forty nine 2.5 metre continuous channel samples were collected along trench 09-5A and submitted for assaying. The average grade over the full 125.5 meter lenght of the trench was .35% NB205. Results of the first sample submitted were previously released. The remaining assays have been recieved and will be made available on the Sarissa Resources web site shortly.
In 49 samples submitted for assay, hightlights included 2 samples of greater than 1% NB205 and ten samples greater then .5% NB205. As well as the significant NB205 results, the samples returned anomalous values of tantalum and uranium, along with 2 samples of greater than ten thousands ppm rare earth elements.
Of additional significance is that this trenching program was carried out in an erea of the SE Zone that had not been previously drilled, so continues to expand the erea of potential mineralization in this erea. A follow-up drilling program has been initiated to test the areas underneath the zone exposed during the trenching.
Metallurgical Testing
The first phase metallurgical testing of ore from the Nemegosenda property has been compleded by SGS Lakefield Research Limited and "NO BARRIERS TO EXTRACTION" have been identiftied. This correlates with the $1,000,000 of metalurigical research conducted by the Dominium Gulf Company."
Market Wire
Sarissa Resources price per share (PPS) climbed to +55.28% today.
The rise in gold and the new technical report out soon maybe in part for the run to this undervalued stock which is on the climb back to PPS @ .25
Investors, traders and shorts were caught off gaurd as they scrambled to buy up shares. This next run will set a new high from the previous run of a PPS @ .20
The november out-look has come thru as previous posts indicated.
Monday November 16,2009
Sarissa Resources started the morgning like it ended the last trading day. The stock took off to a +23.33% and continues to climb. In two days of climbing the PPS has climbed +61.33%.
Those sitting on the sidelines are losing substancial gains on the stock as it's begins its climb back to new highs. The commodities markets are soaring as the dollar weakens again bringing in new investors into a stock that gives a bigger bang for the dollar.
The news comming out will bring big suprises...
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