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Leaden, That’s the term I see…..
Millions of free share in options goes against the ethos of pw and Argo team and most ceos funding millions in shares from the pocket, not when they can award free ones from that low price of 157.
If they had bought shares it would have been disclosed not disguised as a riddle in the back end of a prospectus.
I highly doubt the Directors bought shares btw, the word is “awarded”.
they're not allowed to do overt PR this week due to the IPO quiet period
Instead of BBQ's. PW should concentrate on PR. With this moment, we cant attract US investors
Institutions have already had the chance to buy 75,000000 shares at 110 .
Plus 3 weeks of trading days were most days its hit the IPO price.
Do you really think they are holding this down
Folks the institutions or holding this down. Have you seen how much Argo has been accumulated just in 30 days. its like a wolf pack. As soon as the alpha eats his fill others are allowed to join in. Im ****sed but understand whats happening.
Longinvestor, I'm with you on this. The euphoria over a 120p close, 115p bid, week's finish is laughable with bitcoin at $61380. Anything which could mitigate the dilution and VERY large number of shares in circulation would be helpful. Directors' purchases have and always will be a major signal to investors. The award of options also likely to be negative as soon as or if a share offers a nice quick profit above the option price. Hey presto, big sells again. Right now ARB is a cur up against thoroughbred other miners on Nasdaq, FOR SOME UNFATHOMABLE REASON. As for patience, how's three plus years look? Still a nightmare share to be in and for no good reason outside of huge insider MM dealing and manipulating. As Gensler pointed out months ago. Cheap shares sold on to others, outside of proper retail trading.
@kev
"Please. Keep agonising over the small print. I’m going to have a teensie, weensie celebration!!"
I just don't get the celebration, btc storming ahead the likes of hut up 16% after already moving with btc and then there's us a pile of steaming poo which no one wants to touch... Just buying the assets would of given over 50% increase instead of our awful awful performance.
Not a celebration at all
K3,
There is/was a common misconception that Argo Directors purchased shares/ADRs during the IPO, the prospectus is very misleading and as a result I beleive has mislead investors.
That to me is a big deal. Those same directors had inside information, not only that it was a 30% discount but what funding will be necessary to kit out Texas with miners. I am now pretty certain they didn't buy any, no RNS, nothing in the prospectus, they *have* to disclose purchase as soon as reasonable practicle. Why didn't they buy? Perhaps they know what's coming down the road? - Directors buying or not is a good insight into a company!
So, its great that BTC has gone up, along with all my other holdings in miners, that nor any other news doesn't distract me from finding out the facts about this, I'm happy to multi-task.... Good luck with your investments and your continued education on the stock markets!
$60.6k
I apologise. I posted too soon.
Please. Keep agonising over the small print. I’m going to have a teensie, weensie celebration!!
??????????
LongInvestor
“ I do, it makes a big difference if shares are purchased by Directors! - If you don't understand the reasoning behind that, you have a lot still to learn!”
Everything is relative. On a day when btc shot up to $60361 and we have news of the first btc futures ETF being approved (as in it won’t be opposed by the SEC) no-one cares about the pimples on a gnats bottom. The directors either have, or have not, bought more shares. That will be spelled out when disclosure is appropriate. If your buy, sell, hold decision is predicated on knowing that ahead of publication, then you clearly have more to learn than I do.
Indeed Chaebol. "Nobody cares."
Thats a pretty dumb naive statement from K3...
Large Director buys are always transformational to the share price.
Yeh anything negative or is wrong the rampers disregard it.
PW and insiders buying 5.6 million shares would create great sentiment and is certainly more important than ‘who cares’ lol
Anyone with serious skin in the game should ‘care’
On pg 112 it also states "This number represents (i) 5,631,197 ordinary shares owned by the directors in the aggregate, as of June 30, 2021" which therefore confirms those share were EXISTING not new shares!!!
@K3VMC 'Nobody cares'
I do, it makes a big difference if shares are purchased by Directors! - If you don't understand the reasoning behind that, you have a lot still to learn!
Longinvestor
Nobody cares.
@Lolades78
I've scanned over the Edgar prospectus from 23rd Sept:
https://www.sec.gov/Archives/edgar/data/0001841675/000110465921118579/tm2115473-31_424b4.htm
But can't find anywhere that says any directors actually purchased shares or ADRs? - All I can see if they are not allowed to sell shares they own, here is the quote on Pg 148 from the last prospectus and doesnt mention *outstanding*
"5,631,197 ordinary shares will be eligible for sale upon expiration of the lock-up agreements described below, beginning more than 90 days after the date of this prospectus."
Can you share where it says directors purchased shares?
The section are referring to is correct, Longinvestor but it refers to the 5.6 million 'outstanding' shares they bought in the IPO.
As the registration states:
"5,631,197 outstanding ordinary shares will be subject to 90-day lock-up agreements entered into by our directors and officers."
I reckon PW needs to announce some significant hash rate purchases and let the share price run up on the news then do a share issue to pay for them.
No one seems to want to know with argo, maybe because we are being outgunned massively but other miners who have a development schedule.
I'm not sure where these 'best' executives come into play with the 20 strong team. Not quite the dream team it was portrayed to be.
Crank up the hashrate and get the coin before the next halving, no point just having a warehouse with some plug sockets and baths.
It's a race and Unfortunatly it looks like we've backed the fatty when we needed gump.
Hopefully we can shed some baggage and get back in the race.
I was reading the "Argo_final_prospectus.PDF" on their website https://argoblockchain.com/investors/ which you would have hoped was acurate source! :-/
I'll have a look at Edgar later...
Longinvestor - that was from the Sep 17 prospectus. The final prospectus filed on Sep 23 ran:
"of which approximately 10,649,983 will be subject to 90 day lock-up agreements"
"5,631,197 outstanding ordinary shares will be subject to 90-day lock-up agreements entered into by our directors and officers."
It's new shares, Longinvestor. Then the updated prospectus refers to the shares they have procured.
Bought some just to say 'wouldn't want be out of this over the weekend'. :)
Just reading the prospectus again, on pg82 about lock in period it says
“Each of the Directors have undertaken to the Company and the Underwriters that they will not, and will procure that any associated party will not, dispose of any interest they hold in the 5,631,197 Ordinary Shares held by them”
So, that to me reads 5mln *existing* shares that they own, rather than *new* shares!?
Hexam
“ Yes, agreed, but the lock in may apply to all shares they own, not just any purchased in the IPO.”
I would doubt that is the case, but really, it’s neither here nor there. It’s not material, in any context.
No, it specifically mentions that it is new shares in the IPO not old ones.