New Research Report - Valuation $1.54, page-28

Doubt there will be any CR at 22c. SFX doesn't need more money until later in the year, in which case either the project is funded, financed and worth ~$1B post-tax NPV etc or something's gone terribly wrong and it's suspended or dead in the water again.... in which case it's back to the drawing board and 10c.

I've clearly outlined the longer term risks to be sorted out over a delay the market was never going to be happy with. If there is nothing potentially fatal going on behind the scenes market doesn't know about, then the price needs sufficient new buyers to soak up this seller. What 'discount' will attract those buyers and dissuade sellers from going any lower? 30-32c has been a support range all the way back to the YS JV announcement, and was support before news the second formal sale process was falling over. 22c would represent just SFX's share of the JV cash and cash on hand, pretty cheap if the project get's funded and goes ahead i have to think.

Been watching the ticker pretty closely and SFX isn't helped being so illiquid. Look at the Bid depth and it's been stacked with 13,500 bids all morning and not much else. None of the trades ever hit a 13,500 bid as they were always pulled before sellers hit the bid... ie prop bids probably associated with the seller trying to create some buying confidence. How many other bids are fake just to fluff up the depth. probably most of the odd lot numbers which algos spoof on and off, crossing between themselves during the day to disguise what's really happening.

What's happening is a very illiquid stock is nervously feeling for a floor to stand on in the face of only modest selling to be fair. A reminder of 'position size risk' in illiquid juniors/developers. Funds can get in usually through Cr's etc, but good luck getting out without a haircut if the stock gets on the nose.