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Mathsman - For someone whose been Trading for over forty years I expected a much broader in depth answer than that. You think something smells funny here because you've seen it with other Shares, is just not a good enough excuse to make such a comment and sow seeds of doubt. ARB is expanding and I can see within the next couple of months £2.50 will seem like an absolute bargain.
Agree - maybe the equipment was on its way to China ?
Yeah, most likely explanation is they found some machines available right now for cash. Perhaps from Inner Mongolia! Should find out soon enough.
In case you missed it
expand its mining infrastructure
Devil in the detail
If there is a deal for a load of new machines to be had they will take it, however until that deal is done it can’t be announced.
So look at Peter walls comments about the fundraising I would say it’s quite specific
Peter Wall, Chief Executive of Argo Blockchain, said:
"We are pleased to announce this fundraising which presents Argo with the opportunity to further invest in and expand its mining infrastructure. It will also allow the Company to diversify its investments within the cryptocurrency and blockchain ecosystem through our follow-on investment in Pluto Digital Assets.
I think he needs the funds it to buy Argo hoodies for all the share holders....
Good for him. Never bad advice.
Peter Wall. The most transparent CEO possibly ever.
Whoops, autocorrect thinks you’re Marksman, not Mathsman
“All I suggest is caution and a pinch of scepticism”
Marksman, You’ve been urging caution since it was under 10p lmao
The thing that smells just slightly funny is that the funding for Texas was announced and arranged separately - £17.5m in stages, plus a $100m loan facility. All good.
This is another, separate £26.8m, and it's announced just after the directors exercise warrants and sell the resulting shares. That has a slight whiff of four-day-old salmon about it - until it's explained. So far the only explanation is the Pluto funding round - where's the other £19.5m going? And why such a hurry?
If he's found some machines that have fallen off the back of a lorry and he has to buy RIGHT NOW then that's awesome, well done. Just tell us...
How about the directors selling millions of shares every time they get their hands on a few?
I could list you a catalogue of shares that went stratospheric in a few months as this has done, and them caused a many people a lot of pain. All I suggest is caution and a pinch of scepticism.
So you've been 40 years in the market, so explain why you think something smells funny here?
Read the thread from the begining
After 40years in the markets I have begun to understand how things work but nevertheless thank you for your well intentioned advice.
The Placing is to raise money to expand the business which will bring in further profits. Why is that so difficult to understand? Honestly speaking, Trading is just not for you, don't give up your day job. Nothing fishy going on here at all.
Is something beginning to smell here?
So not a definite amount and therefore probably a guess.
The accounts, when we see them will make interesting reading
I saw PW’s salary mentioned at £150-200k in an article about it being paid in btc.
Apart from the truly massive amount of shares they are selling does anybody know what salaries the directors are drawing. Yes, at least one being paid in BTC....but how many BTC?
This might be viewed by the sceptical as a get rich quick no lose situation