Good, positive thoughts and certainly the graphite macros look...

Good, positive thoughts and certainly the graphite macros look extremely positive with demand for large flake set to rise substantially just on the back of ion-lithium batteries let alone the other potential growth areas.
Obviously risk is not regarded well in current markets and solid earnings are. Compare Telstra's recent SP to Lynas and consider that LYC should be earning 60/80 cents a share 2014 giving it a forward PE of around 1.5.
The market doesn't give a toss for potential right now and then add the uncertainties of a totally opaque private company that keeps making promises it doesn't keep.
We probably have little choice but face two risks which are impossible to evaluate through lack of information:
1. Mega can't deliver and our investment gets tied up in a private company where we don't really have the same small SH protection that we have in a listed entity.
2. Mega do a sham IPO where our nominal $70M value gets heavily diluted almost immediately, i.e. float a small number of shares at $1 and they trade at 40 cents.
Much rather be positive but unfortunately an "investment" in SER has now become a toss at the casino IMO. Guess I'll just have to follow the big guys and bet black.