SER 6.25% 1.5¢ strategic energy resources limited

unfounded frustration

  1. 7,604 Posts.
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    SER has an MC of $14m after the demerger...Half of this is ascribed to 10% of Mega.
    It is reasonable to speculate that Mega will have an MC of $70m on listing.
    This is half what we were expecting from the initial MID with the price tag of $70m for Uley...This makes us angry.
    Compared to other OZ "Graphites" like TLG (MC $24m)..MGY ($16m)... MOX (MC $12m).
    SYR is a different animal with an MC 0f $160m.
    Both MGY & TLG have substantial resources which might not be too far off Uley,however they are not commanding the implied $35m market value for Tarcoola.
    The MID price tag of $210m for Mega was,in hindsight,far too generous....The market is NO fool.
    I am trying to convey a message that SER is not too overwhelmingly discounted compared to its peers even with the dark clouds hanging over Mega.
    If Mega manages to raise $20m - $25m in cash,we should see doubling of Bambi's value within a short time frame.
 
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