With respect, I think one asset the market is seriously overlooking is Ambergate, SER’s 100%-owned heavy mineral sands project in WA. It’s got a JORC Inferred Resource of 11.2Mt @ 5.1% HM, equating to ~569,000 tonnes of heavy minerals — including a quality assemblage of ~12% zircon and ~73% ilmenite**.
This isn’t just some stranded tenement — it’s in a strategic location with infrastructure and port access already in place.
If you look at comparable sales:
- image Resources acquired McCalls Project (5.8Bt @ 1.4% HM) for $12M
- Allup Silica picked up McLaren Project (280Mt @ 4.8% HM) for cash + shares/options, still showing clear market appetite
Ambergate may be smaller, but it’s defined, advanced, and well-positioned — I’d ballpark a sale value between $2M–$5M+, possibly more with the right buyer.
A sale would mean immediate cash for SER. Combine that with Bulimba drilling, Cowal upside, and Ionic developments — this stock has multiple catalysts in play.
The market may not be paying attention now… but it will.
(20min delay)