I think you are right Flatchat... I have been keeping an eye on...

I think you are right Flatchat... I have been keeping an eye on SER for the last while and a half, and since Mr Muzzin came on board there seems to have been a bit of a turnaround in activity.

SER seems to have three things going for it at the moment:

Uley Graphite deposit. The Coffey report certainly indicated that the mine could be put back into production very profitably. All SER needs to do is get the backing of a solid partner (equity in SER or equity in Uley itself) and the mine could be up and running quite quickly. In the past the quality of graphite coming from the mine has been very good, and with the price much higher now, it all looks feasible. A report a few months ago from Industrial Minerals (www.indmin.com) suggested that demand for graphite could double in the next few years because of its use in Lithium ion batteries. For example, each such battery in the hybrid cars uses between 3 and 7 pounds of graphite in the anode.

Falcon Bridge Nickel project. This is a real winner for SER. Ishine has farmed in, to earn up to 70 percent, on the basis of spending $3 million on exploration. Drilling is to commence in May, targetting various conductors which have recently been identified. $3 million could pay for a heck of a lot of drilling. After minoriy interests, SER would end up with 25 percent, if Ishine exercises its option to take up the relevant interest in the project.

Bass Strait Oil exploration permits. As Exxon/BHP demonstrated yesterday, there are still hydrocarbons to be found down there.

Even if you place a value only on Uley, you would have to think the shares are significantly undervalued at around 3 cents. Interest has certainly picked up over the last few days. The buying depth has thickened up considerably. Perhaps news is around the corner.

Part of the reason, I believe, for the low price is historical. Very little had been done about Uley for many years, so the market ignored it. SER was thus perceived as an oil and gas exploration minnow. But Mr Muzzin seems to be changing all that. Let's hope he keeps up the good work.