SFX 0.00% 29.5¢ sheffield resources limited

Opportunity knocking, page-193

  1. 481 Posts.
    lightbulb Created with Sketch. 210
    So at any point in time, both the finance and the equity could potentially fall over. As the SP drifts lower, the equity placement IMO is becoming more and more of a concern for shareholders. Hence the sell down IMO, investors are reducing the risk in the event of

    a) Financier walks as loses confidence in the project.

    b) Equity funding doesn't get sorted

    c) CR on its way

    d) Equity placement comes in which placement gives a controlling stake in the company.

    "Volumes have been rising and are now comfortably above 1M per day"

    How you find comfort in someone exiting like they have been is very worrying, this has been sold down more than 50% in a matter of a month or so.

    "15c was my call to friends as a bottom based solely on the market cap dipping under STA who have had similar problems getting funding in the past and face the same issue as SFX now."

    So when you bought all the way down, doubling down at 30cents, you still believed 15cents would be the bottom? why not wait?

    What technically gives this targeted bottom?

    IMO I see a/some decent holders exiting and trying to salvage money at all costs.

    There has been little no support so far, if you are hoping support comes in, that is very concerning as hope doesn't bring successes.

    "SFX actually hold an asset of value, not a liability."

    Asset of value? the market doesn't seem to agree just yet? 88% of shareholder value has been shaved off the top.

    GLTAH DYOR
 
watchlist Created with Sketch. Add SFX (ASX) to my watchlist
(20min delay)
Last
29.5¢
Change
0.000(0.00%)
Mkt cap ! $115.9M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
1 18 30.0¢
 

Sellers (Offers)

Price($) Vol. No.
30.5¢ 3000 1
View Market Depth
Last trade - 16.12pm 09/08/2024 (20 minute delay) ?
SFX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.