Southern Cross is an old bag. SInce last year they made the blunder of issuing a LOT of stock to instos at 9c - and then the outrage led to SPP at same price which was massively scaled down (it was very small in comparison to what they gifted to instos anyway) the price recovered after the restructure. It has been trading sideways and this is the time when it started to lift - all up from here. This is the stock that is awaiting the same fate as Village had already gone to - a private equity takeover because of the assets they have are not as productive as they can be and someone will buy them for a little renovation... Conservative valuation is about 20% premium from here.
To back up my assertion here is the 5 day chart that shows that buying has truly started.
27-May-2020: I believe Southern Cross Media Group (SXL) had one of the biggest SP rises today, with a +27% rise from 18.5 cps to 23.5 cps. On NO news, other than that Challenger (CGF) were now holding 7.3% instead of 8.32% of SXL, presumably because of the recent SXL CR @ 9 cps. Somebody is buying.