I agree 13th, good post. I've had SFX on my watch-list for over...

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Gwaihir

5,170 Posts.

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31/05/19

18:08

Post #: 38853031
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Originally posted by 13th ↑

What an unmitigated cluster f$ck, right when the company is at a critical phase that will determine the medium / long term value in the project for shareholders.

The economics of the project haven't changed since the last update, people's perception of risk around the project is what has.

I hope that Bruce and the corporate advisers (UBS) can get this process wrapped up sooner rather than later, with a credible funding package, that minimizes the dilution for all shareholders (wishful thinking atm). Whilst many are excited about the possibility of a potential take over approach, it would be truly disappointing for an offer to be lobbed below the recent high's ~ $1.20.

Whilst Iam somewhat comforted by the fact that management own a decent stake in the business, that doesn't always yield a positive result for remaining shareholders.

Nice to see some genuine interest / intent on market today, all be it less than $120k going through, it goes to show it won't take much volume on the buy side to see the price +$0.50 / $0.60, it just takes commitment from the buyer and realisation of value at the current market cap.

I was looking for the low's of Feb 2016 ~ $0.30 to be re-tested in the recent wash out before having another look. I do hope that we have now seen the bottom, however the coming days / weeks trading will prove that theory right. Technically need to see 44c cleared before a push back to $0.50. All the indicators iam looking at are screaming oversold, however price weakness can continue. On the flip side, share price appreciation can come quickly due to sell side liquidity drying up, it's just a matter of timing.

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I agree 13th, good post.

I've had SFX on my watch-list for over a year, waiting... waiting..... and watching for any news, both good and bad.

I pulled the trigger for an initial buy when it went below 40 cents, but that low didn't last long enough.

I thought I'd get the opportunity to buy another tranche or two in the mid 30s, but I don't expect that to play out now, because it bounced back hard. I'd be surprised if it went below 40 cents again, but I could be wrong, there are a lot of things in play with SFX at the moment.

The mineral sands sector is looking ok though, at least according to the larger minerals sands miners, and the good analysts have them as a buy. I'm not sure how the USA/China trade war is going to affect this though, it's hard to predict.

The sellers are drying up with this stock, and it could surge quickly, just on that basis alone. And if one of the majors come in and take 30% for a wadge of cash, then SFX are made. Here's hoping the gods are on our side in 2019, fingers crossed, but as we all know, the god's can be crazy (at times).

Gw

SFX Price at posting: 47.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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