It's a tough time for a lot of commodity juniors, not just sand...

It's a tough time for a lot of commodity juniors, not just sand but sand has certainly been in the doldrums for some time now. SFX has plainly been forced into a solid downtrend that looks like it might even test that 25-30 cents range from back in Jul 13. That is partially an artifact of a very difficult market which is beyond control of management - capital flows where it's confident of returns.

While it's searching out it's floor I wouldn't be surprised to see a bit of a rally back towards the moving averages as this has been a very steep drop since the PFS release. Hopefully for the long termers the floor is 40cents rather than sub30cents but I don't think 40 cents will hold over the next 6 months without a material change. My own natural instinct is to be a holder of stock so I can definitely identify the pain that some of you are feeling at the moment - had it more than often enough myself over the years in different specs I got too attached to, sigh. I'm a slow learner - honestly now I think that holding in the bottom drawer is for companies with good earnings that are underwritten for the long term for some reason (Warren Buffet's moat concept) but still I grapple with it eg my aforementioned position in STA.

When the market eventually turns up properly, SFX has an asset that will attract attention. In the meantime those who hold will be hoping hard and likely hurting whilst those who don't but are watching with interest (I'm in that group) will be waiting to see if any dilution takes place, if so what scale and where it finds a solid floor. If it plays out right (particularly solving that capex problem) there may be a chance of a multibagger again down the track.

Good luck to all.