Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Hexam
I can assure you that is not the case, obviously there is optimism from a group of like minded investors, but it is more like this BB from last year.
Well informed posts and discussion with a good bit of friendly banter thrown in for good measure.
Try it and then decide, if it’s not for you then you can just leave no problem.
Thanks for the tip JTF but I'm worried that treatment comes with possible side effects i.e. ramping disease (main symptom a fixation about the moon), OCD regarding BTC value and an aversion to negativity of any kind ;-)
Hi Hexam
Treatment I can recommend is Discord
Will clear that rash up instantly :)
Hi JTF, I'm well thanks - just suffering from a nasty rash of trolls at the moment but my doctor (not THAT doctor) says it should get better soon. Apparently there's no treatment for them but if you just ignore them they just go away by themselves.
ATB H
Looking at the margins and average cost of BTC… breakeven is around $11-12k.
But, as mining difficulty is currently down 25% and like to drop another 15-20%, breakeven will be closer to $6-7k.
Good job we’re all invested in one of the (if not the) most efficient BTC miners out there.
Comprehensive as always Hexam and I am happy to be corrected.
I forgot about the depreciation from accounts perspective.
Hope you are keeping well
Thanks and ATB
In profit and loss terms the breakeven BTC value is actually around $15-$20k (NOT $6k, or, sorry JTF, $10k) - but still a fair way to go yet before costs aren't covered. These operational costs are around £2m per month (£1m mining costs, £0.5m depreciation on existing rigs, £0.3m leasing costs for the 4500 rigs recently installed and £0.2m other costs such as salaries).
At 160 coins mined this equates to around $17k per coin though this figure should drop a bit given reduced difficulty in July. Dynamics will change with Texas expansion but if anything the breakeven point should go down in future.
Cash flow is far harder to assess. All the above holds (except depreciation) but the main call on cash will be the Texas expansion (the land itself was purchased with shares). Hopefully though much of this can be met from the £49m raised in Q1 though some of this has been spent on the second Pluto investment and the 172 BTC purchased in January. As JTF points out there is also the loan facility available to draw on.
So in short - nothing to worry much about in the financials (provided BTC stops falling at some point of course)!
In March we raised £26m on placing for which some has been used for investment in Pluto and other aspects, the remainder was to be used for running costs which overall probably run at about £1.3m per month all in, based on current hash rate and mining returns this would put break even at about $10k which would include for rig leasing.
All other aspects of the business are debt free and we also have the $100m loan facility available for Helios as advised in February.
I would asses that we have sufficient capital to cover running costs through to end of this year which allows us to HODL 100% each month.
I dont know - can someone enlighten us (with some actual proof of sorts)? There is a growing opex in $ (Canada, etc), plus a huge amount of capex (Texas etc) ... what is the truth on their cost base + near-term cash commitment? (Concerned that Peter will have to do a raise shortly, or start to convert BTCs at this low price ...)
1. Break-even: I remember in the early days there's a lot of talk of 'break-even' for Argo ... some said it was around BTC = $28k ... what's the latest on this?
2. Cash position: what's the latest on their cash position? (Particularly given some of their larger cash obligations re Texas) (thankfully Peter Wall is being pid in BTC :) so no major cash outflow there)