The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I have no doubt 600thieves that pluto will be a massive winner & boost for argo wealth &SP
I will be buying all i can on launch :)
Loaning against bitcoin is instant and that was my point.
Just a thought out loud really.
I have every faith in this company and the running of it. And i will be living in a cardboard box if it doesn't keep reaching these amazing gains :)
But it’s better to get a fixed interest rate or issue shares rather than selling HODL. Especially going through a bull run. Those 600 could be worth north of $100m once the facility is complete. That on its own could pay the credit off. Pointless cashing in now for half of that, then selling more down the line. It would be really bad business. They could even buy the shares back at a later date.
Also, Peter has been asked on previous Q and A sessions that they look to do issue of new shares in one go rather than lots of separate ones. With the placing last night the shares will hit the market at the same time as the new ones for Texas facility, which in theory means they have plenty of cash and therefore will not need to do any more placings for some time
flowerpot999, I am wondering whether borrowing against our HODL would cost more or whether the future value in Pluto will be higher. Difficult to know but maybe Pluto will outpace BTC?
Flowerpot, the point is that borrowing money takes time as case with the $100 million credit facility. And I would much rather see Argo with minimal or no debt rather than heavy borrowing. Their minimal debt stance sets them apart from the other miners who are very heavily in debt. Now they have the money available straight away and more institutions involved which will further stabilise the SP. It's a very good move:)
Yes I know what the money is for and thats great.
My point is, that holding 600 btc allows them to borrow a massive amount of money against the holding
Flowerpot, the money is so they can keep the 25% stake in Pluto and begin building the Texas facility while they wait for the $100 million to get processed. It means immediate expansion and more money for us.
Look at it this way prophet. If they’d done it tonight and SP was £3 they have given the institutes a £1 off each share. The deal was probably done a few days ago. Whenever it was announce would have been bad timing IMO. At least it’s done now and we can start building the data centre.
Will all be water under the bridge soon.
Great that some of you were in a position to grab bargin shares last night, a true gift.
I am a bit surprised the company is not borrowing funds again its bitcoin holdings though to be honest. Maybe this will happen in the future. Michael saylor does it at 2.4 % . Maybe this could be asked in the next pw Q&A
Morning all,
It’s going to be a fun day!
Bitty over 54k, and the MMs won’t know what to do with the opening price what with the BTC rally and last nights RNS! Maybe they should just open at £3 and let it roll......
personally I still don’t understand why everything was done in such a rush yesterday. I’m all for expansion, but surely they knew they needed funds way before yesterday for the areas Peter states in his video? Something still missing for me!
Anyway onwards and upwards.....
Fundraising to maintain 25% holding in Pluto may in the future seem like the deal of the century as this company has so much potential. Do we hold any stake in other crypto asset companies such as pires?
Keeponlosing, I also noted Peter saying we need to think 1, 2, 3, 4, 5-year term. That says it all! ATB
Unfortunately on here everyone wants to have their cake and eat it. This level of dilution is nothing at this current price, what if we hadn’t had a 200% increase in SP these past few weeks, imagine how many extra shares would be needed to cover what Peter needed if we were sat at 140p again. Too many people thinking short term with this.
unix, you must have missed this yesterday amongst all the dross but thanks for the positive points you raised. Looking good this morning. ATB
Surprised this hasn’t been posted already. Looks like the money will be used to start the build, so hopefully won’t need as much of the financing deal in place. And they’ve allocated the maximum amount of shares allowed to retail.
Personally, I’m happy that more UK institutions are on board as it show they’re happy to invest.
https://youtu.be/Gs_fUGmbSmY