As to a couple of your points, the sellers down to 4.5c were probably underwriters of the recent issue. The shortfall was about 38% which underwriters generally can't carry for too long as they need the capital to move on to the next deal.
As to TRY selling and taking 10c options, I don't think this in any way ensures the price will rise above 10c. Remember TRY closed that Sandstone mine so they saw no value at that time. TRY would have been happy to take a chance that SXG fires but not too worried if they don't because they have the value of that at very low levels compared to their market cap.
SXG Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Held
