Ann: SER Business Review 2011 , page-14

Bluoz: There is nothing to suggest in the actions of either SER or Mega that the deal isn't a goer, whether there's an IPO or not. The lack of an IPO doesn't appear to have blocked Mega from snapping up the Big Mack project or, more recently, a big deal with the Indian graphite company.

SER's announcement yesterday after trading dropped any reference to an Oct 31 deadline and spoke for the first time of finalising the deal in 2012.

Meanwhile, Mega created Mega Australia in July and is already working at Uley for what we're told is a likely start to production early next year. If the deal isn't "on" in some shape or form, then the situation at Uley is extraordinary to say the least - and would be hard for SER management to justify.

Assuming the announcement on Friday was in addition to an announcement on Monday (and not what the SER staffer was referring to in his conversation with Raider on Friday morning), it MAY be an interesting start to the week.

Sunman