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Sefton Resources: what do you expect?!

By Ben Turney | Monday 10 February 2014

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I made a mistake in my last piece on Sefton. The latest placement to repay the next instalment of the $210,000 Magna loan isn’t going to come tomorrow. It came this morning.

Over the last week, bulletin board speculation of a takeover has helped breathe a little life into this moribund stock. The timing of this death throw rally has been most fortunate for Sefton. Apparently unable to repay Magna in cash, the company has been forced to resort to a death slide funding arrangement (like a spiral just much more direct and faster and much more painful for shareholders).

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