As far as the Uley deal with Mega is concerned, SER's Business...

As far as the Uley deal with Mega is concerned, SER's Business Review carefully steers clear of mentioning the October 31 deadline, but continues the theme of "or a listed merger entity".

Other than telling us that the Uley deal won't now be finalised until 2012 (no surprise there), there's nothing but a recap of what has already been announced.

On the positive side, there's nothing to suggest Mega won't be able to come up with the $C70m - and, given Mega are already at work at Uley and are talking about restarting production early next year, it would be more than embarrassing for SER management if the deal fell through now.

None of which substantially updates shareholders on what is going on as far as the deal is concerned. So let's hope Monday, Oct 31, brings an announcement that actually clarifies things.

I'm not holding my breath, and I still don't condone the way SER management are treating shareholders, but I'm also going to stay patient because I still believe that's the key to a lucrative reward (DYOR).

Sunman

PS: Ausheads, re "Sixth, Mega have admitted to having financial backing" - I mentioned this in a post earlier this week. But if you go to the Mega website and look up their press release dated May 12. 2011, the answer is there. Interestingly, I haven't seen the particular statement to which I refer repeated in any further Mega press releases.