Nice to see your analysis of the options. I'd hoped that my blogs may have answered your questions. PaperlinX SuX is my views after close analysis of many players, public and private, extensive reading plus insiders' opinion on occasions.
In summary:
(1) There is a hiatus at present with everyone awaiting the Strategic Review. This is the last throw of the dice for many reputations. I can easily see three directors falling soon, or making back room deals to exit gracefully.
(2) My sources indicate there is a state of high anxiety within the Scoresby bunker. I say there are no box seats left, just hot seats.
(3) You say "On the other hand trying to make a logical appraisal of why stocks are falling in our current market is very difficult indeed"
Regrettably, I forecast this some time ago immediately after the EGM, check this graph at Google Docs
Since then PPX has flirted with 10.5¢ and yesterday 7.5¢. My strong view is that nothing has happened at PaperlinX until PPX clears and holds > 12 cents.