Wednesday, July 01, 2009

SRSR

Pretty amazing run in this penny gold stock, Sarissa Resources, Inc. (SRSR.PK), up from about 2c to 8c in past three months. My average cost basis is $0.028, but the inherent risk in this type of gamble was way too high to post at the time. It's still too high, but methinks some of you are chomping at the bit for opportunities like this:


Above is 30-minute chart, not shown is daily chart with immediate EW projections to $0.18.

Best source of fundamental information is either the Company web site or Ihub board.

Overview

Sarissa Resources, Inc. engages in the exploration and development of mineral resource properties in North America. It primarily explores for uranium, copper, silver, nickel, gold, platinum, and zinc ores.

The company holds interests in the Deadmoose Lake platinum/palladium property consisting of 6 claims covering an area of approximately 600 acres in Shillington Township in the northern Ontario; the Timmins property totaling an area of approximately 1,150 acres situated in Timmins Township in the northern Ontario; and the uranium/copper mineral property covering 480 acres in the Elliot Lake Camp in Albanel Township situated in the northern Ontario.

Sarissa Resources also owns interests in the gold property consisting of 40 acres in Pacaud township near Kirkland lake, Ontario, Canada; 2 uranium/copper claims covering 640 acres in the Elliot Lake mining camp in the northern Ontario; and the Sheba nickel, chromium, and copper property consisting of 9 claims totaling approximately 360 acres located in the northern Ontario.

In addition, it holds options to acquire interests in the Anita mine located in Peru. The company is based in Bay City, Michigan.


A

7 comments:

Anonymous said...

I wish i could but NGRN and CEP
left nothing for me.
Sure it was my fault as i don't know how to exit on loss
Serge

Allan said...

Serge: Don't kick yourself, just learn for next time. Stops are necessary because we are assuming only a 50% win rate. If I don't print a price stop, use a percentage, anywhere from 10-25%. Don't be shy about taking losses, they are a necessary part of trading.

Eric said...

What about using the 3 period high/low of Market Club triangles? That would avoid needing a percentage stop.

Anonymous said...

ERIC
HOW DO I GET THAT ON MARKET CLUB? I DONT SEE A LINK FOR 3 PERIOD HIGH/LOW. IS THIS A CALCULATION I HAVE TO FIGURE OUT? OR IS IT A SHORTER TIME FRAM TRIANGLE THAT GIVE THAT TO ME?
THANKS IN ADVANCE
ROB

Anonymous said...

Moose pasture is the Canadian term for con job mines, so I had to chuckle at DeadMoose Lake.

Anonymous said...

SRSR is primarily a Niobium play.

The info you posted is outdated. Niobium is a highly sought steel making additive which produces an alloy that is both lighter and stronger. (Think fuel savings)
Once confirmed by the NI43-101 (due out very soon), SRSR will have the largest confirmed niobium deposit in N. America. Chinese has the vast majority, and are not willing to let it go.

this link provides everything there is to know on SRSR. Well informed investors here:

http://investorshub.advfn.com/boards/board.aspx?board_id=8822

I am no pumper of this stock, but do I expect very large gains in the long term. Do some digging (every pun intended) and I think you'll be pleased with what you find.

IMO this is the perfect cheap stock (right now) to put away in your Roth (not unlike the potential of NNVC).

Carl

Anonymous said...

Serge,

Trading is a hard eyed bitc* with a 12" strap-on. Those losses were tuition. All the best traders pay through the nose to get to where you are. They survived when the vast majority of their peers gave up or busted.

I don't know you, but you are blaming yourself, which means you have learned and are entering the major leagues, a select place which admits a small fraction of our brotherhood.

Keep moving forward, you are a champion!

- Name withheld because I don't want anyone to get any weird ideas about strap on referrences.