Looks like the write down of VXL value is having a significant...

Looks like the write down of VXL value is having a significant impact on the SER SP. Not surprising really given SER can't afford to stump up the funds to prevent a 9:1 dilution of their holding in VXL, so will not only lose $ but their control of VXL and the Uley asset. The recent exploration by Kingston to the north of Cultana/ Myall Creek has also come up with nothing, so probably means both KSN and SER will not pursue anything there in the medium term, despite the initial promise of copper at Myall Creek. So now it is really just the cash and the value of their Ionic holding that gives SER a value. Trouble is, without being able to place a value on Ionic at present, they could be well undervalued or well overvalued at present. Sell now and buy in later, sell now and buy more Ionic when it floats? Or hold and hope the bottom is reached soon. I've no idea!