I am a shareholder of SFG, but have no inside knowledge of the state of play wrt first stage funding negotiations.
The Gen Mtg next Monday is specifically to seek shareholder approval for the Chairman to take up further shares, taking into consideration the Independent Expert Report. Normally such a meeting only provides information regarding the business of the meeting. However, I believe that the company may provide an update as to other matters that are of primary interest to all, and if that is to occur, then the company must release that information in an ASX announcement prior to the meeting. It is possible that the company will allow general questions from the floor wrt to that announcement, but it is by no means assured (as I say usually questions by shareholders at the meeting might be specifically related to the business of the meeting, hopefully the company will allow more general questions). But in any case, and whether it be a (normal physical) meeting or as in this case an online meeting, the company will not provide anything (ala wink, or nod, as you put it) that isn't already covered in the ASX announcement.
As I've mentioned before I believe the current share price probably doesn't necessarily reflect the true status of funding negotiations. It probably more reflects an uncertainty as to whether another $6 million in funding will be invested by the Chairman. Once there is clarity on that then there is probably more likelihood for progress of the larger funding arrangement.
Consider this: From my observations the Chairman has invested around $30 million cash to date, plus another $6 million for this current placement, plus another $15 million in debt facilities. Yes he's getting a great deal, both with the shares being issued, and the interest rate on debt (albeit he has an option to convert most at 9 cents per share). All up it's around $50 million cash he has provided to the company. If PSD doesn't get up essentially his $50 million is gone. In his position he must have supreme confidence that PSD will be funded. And with that skin in the game most financial groups considering either debt or equity must also take considerable comfort. It gives me, just a simple shareholder, a lot of confidence that things will develop.
From what I understand the current placement amount is sufficient to keep PSD on a schedule to meet first prawns into ponds end of next year, but certainly they need to raise the bigger 1st Step funding in coming months.
I'd imagine the fact that it's the end of the financial (tax) year also has placed share price under pressure at the moment.
I remain confident, even though it's been a long drawn out process, as Pegslee mentions. And I also believe that if an announcement of secured 1st Step funding occurs the share price will rise appreciably, although some frustrated holders might sell out (way too prematurely IMO). Until we know the exact details of any funding arrangement it's difficult to establish theoretical value of a share, but as I've mentioned before I would be surprised if the valuation doesn't achieve at least $1.00 ultimately, but could be much higher than that subject to the specific terms.
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