re: Ann: Letter to Shareholders - The Move in... 3500,when the "deal which MM was across" came crashing down,your 600 percent profit ,would have seemed far off indeed.
Its like going to the racetrack,with the expectation of making money,you invest your money on what you think will win,after the race,your selection lost,you look at your ticket,and find out you made an error,when you actually won.
(This is indeed what happened with Uley,there can be no other interpretation on the outcome).
The above,was not investing,it was gambling.
Mining on the other hand is a series of systematic events based around sciences,while the outcome is perhaps still unknown,adhering to a professional and sound scientific approach offers the best reward versus risk .
Here in lies SER's managements systemic failures.
As I alluded to in my post yesterday,our geo(heavily weighed down with his bonus shares),says Cultana is analogous with Wombat.
Now at least adelaide resources had/have the brains to use ,
FPXRF is delivering significant new drill targets in a cost-effective and time-efficient manner.
FPXRF is exceptionally cost efficient
?
Cost of survey to date has been c.A$52,000
?
Estimated cost of A$830,000 to do conventional
15,400 sample survey
http://www.adelaideresources.com.au/presentations/20140507%20SAREIC%20presentation.pdf
Having blown money on a drilling program bound to fail,were now putting the horse back in front of the cart,with our own geotechnical survey.
(As I said at the time,are we drilling because we should be,or because we can?).
Its not that management arent doing anything 3500 ,its their methodology which I question and believe to be dubious,below par,certainly of a Technical director(paid accordingly) and a trained geologist,both heavily endowed with bonus shares.
So in the likely event SER,spins off its Graphene into a stand alone business,will it be able to continue as a major SHr in VXL,with a SER director on the board?
I wouldn't have thought so,with or without Chinese walls.
"I am still holding SER because there is more return to be had....This will be achieved by other means besides drilling....The market is not remotely interested in diggers."
On this statement 3500,I think your both right and wrong.
While Ive been ridiculed for SER swapping our oil & gas permits in the Gippsland for shares in OBL,Overtime this will be proven to be a great deal IMHO.
(Disclosure I own OBL shares).
So I see the OBL as share price accretive to SER- overtime,I suspect in the form of an eventual takeover of OBL.
Energy crisis warning for WA
WA is hurtling towards an energy crisis within six years, with Energy Minister Mike Nahan warning that the State's biggest domestic gas supplier will leave the market by 2020.
https://au.news.yahoo.com/thewest/a/24051514/energy-crisis-warning-for-wa/
The last part of the paragraph,is factually incorrect 3500,certainly on the mining stocks I have perused on HC,any "good news" after drilling results have been announced,the said mining stocks have seen an improvement in their SP,the market 3500 has rewarded them.
I trust our two hole drill program find some bonanza Nickle grade ,where were duty bound to drill more at Falcon Bridge.
Raider
In the land of the blind,the one eyed man is King.
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