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"How long can pw act as acting/ interim chairman before corporate Governance rules are broken? Coleen Sullivan bailed quick last year, shes a heavyweight doesnt muck around.
The current set up enables if in bad hands, skullduggery to go on and barring that, this is not a good look at all.
Corporate Laws are being broken whilst fiduciary responsibilities to shareholders arent being met. Awesome !"
Corporate Governance in the UK is a code rather than a specific set of laws. Companies are expected to comply or explain otherwise. I don't think it's unreasonable for the CEO to step in as interim chairman while a replacement is being sort, in fact there's probably a decent argument to suggest they are best placed.
I think if we are going down the more US route of dual shares and founder control we'll most likely see further divergence from the current code.
Plus, you should also learn about these 4 warning signs we've spotted with Argo Blockchain (including 1 which doesn't sit too well with us)
. Is it the $33,904.00 ? x;)
Not a nice comment on that link FP, and the rest was pretty bad too. The jam ‘tomorrow’ is still here in abundance.
https://uk.sports.yahoo.com/news/argo-blockchain-plcs-lon-arb-070105761.html
@AIG you might think i'm one of the bulls, I'm not. I moved to about 70% cash just before the war in Ukraine broke out which has served me well and I'm slowly dripping money into stocks I think will multibag coming out of a recession if they are able to whether the intermediary period successfully. I've recently bought into Argo and for me it's much more of a punt than I like but at 51p I'm betting on bitcoin surviving what's to come and going on just one more bull run to multibag from here - it might not happen and I lose the lot but I see this as a good entry and am not desperate to get in much lower - in fact if it goes 35p, 30p I'll probably be no more tempted to go large as it means BTC has dropped to a dangerous price for Argo.
At 51p and $29k we are looking at a BTC price that merely needs to hold til the end of the year for Argo to become highly profitable again.
@chaebol
Agree, people were warned in Sept/Oct last year, I didnt heed that warning and go full cash, but did exit Argo for different reasons
But yes, Shorters will be those who will become more wealthy over the next 9 months IMO
Short the main exchanges will be no bad thing I feel
@harchris
I hope works out for them, however.
That growth was during a period of extended QE, where 20% of all dollars ever in existance being printed in 2020!
When BTC was created it has since benefitted from an ongoing and uniterupted Bull Market
BTC was, from its creation, a punt, but now it has become highly speculative
Very speculative as no one knows how it will behave in a recession, or potential depression - this is the big question
If it survives and retains value then yes it could become the asset to hold value, if not, then it will just become a play thing for computer geeks to trade
It could also, just as much crab for the next 10 years
AIG
When the Bank of England Governor tells us food prices will be apocalyptic, be warned ! imho this mayhem hasnt even started 64 trillion dollar debt amongst the top 5 GDP ranked Countries on the planet, far, far more public and private debt than we ever had in 2008 GFC. Dow Jones still top heavy at 31,000 and nasdaq i believe will see massive drops from the current numbers.
Right now i think the markets are being nice for whats coming, Once commodities go on a tear its game over.
Debts have to be paid or a grand reset is coming as the mountains of debt are un-repayable, whatever ! bleak times but a bottom will come like they always do.
Buying at
ARB 8-12p
CHAE GLA
The HODL mentality played an absolutely essential role in getting bitcoin to where it is today and continues to play a major role. How else do you convince ordinary people to continue to hold as their savings bag and bag and bag again? I have many friends with pretty much every penny to their name in bitcoin, two of them started with £25k each and saw that rise to £275k yet they refused to sell... that £25k is still worth £135k though.
HODL also takes away the most difficult challenge for retail investors, timing one's exit. It's simple - take all your savings, put it in bitcoin, dollar cost average in with what you can afford each month and set your time horizon to 5, 10, 20 years, that's your financial future secured.
I hope it plays out that way for them!
Thats some Trend x;)
AIG
Anyone hodling for the last 17 months here are down!
First week of jan 2021
@harchris
Agree with your comments, hence playing the trend is the safest option, than just HODL, which, despite being the be all and end all when comes to Crypto, means that you will be down if HODL over past 12 months
I agree with you that the chances are this goes lower, the chances are there's worse still to come for the stock market but it's worth remembering that almost everyone is thinking this now, that there is widespread agreement about inflation, that the bottom for the nasdaq, the ftse, crypto is still far off - it's often this one-track sort of thinking that causes a surprise...
One surprise month of better than expected inflationary data and markets rebound hard.
@stnz "AIG what are you on about, I’d love to buy more at 25p."
I am sure I remember people saying the same at £2, £1.80, £1.10, £0.87...... before the respective bounces, whilst in hindsight in a downward trend, now that trend is alot more clear
So you may well get that opportunity, may also get the IPO price, or even levels other long term holders got
AIG what are you on about, I’d love to buy more at 25p.
@jayblu48 - "all these calculations, but what happens if/when Bitcoin goes on a run back up."
Please see my comment, follow the TREND.
And the current trend is.......?
all these calculations, but what happens if/when Bitcoin goes on a run back up.
Chaebol "Totally agree with what you’re saying, what’s the re entry level you are looking for in Argo ?"
I am looking <25p, now the cult and PW following wont like this, but the reality is the trend is down.
At present in middle of London Fuel costs are around £2.40 a litre, come Christmas this will be the norm nationally, if not cheap
Argo is a retail focused stock, regardless of what people say, so the TREND is down
However, I am not precious, nor looking to get the top, or bottom
When I first bought Argo, you could say I was lucky, but I saw the upward trend so bought 40k shares mid December, followed by 60k before New Yrs (all those investors in since this was the upward trend).
But I never maximised profit, as overtraded
My issue through downward trend was cutting loses, so since learnt to sell the downward trend
So I will neither look to get top, nor bottom - but, IMO, this is not the bottom and if someone thinks it is, pick up the FT or go to your local chip shop and see how much extra your fish special is, then think to yourself does the casual investor have spare money to pump your bags? (or does Bill, the casual dude with £500 in Arb, more than likely need to cash to buy the kids school uniform in July?)
However, if I were having a guess, mid 20's in Q4, maybe less
But, you never know, ARB may improve governance, get a COO/CFO who take their responsibilities more seriously and compliment the excellent Perry, look to get an independent chair, etc, which encourages more institutional investment..... but, at same time, what happens if Riot, for example, poaches Perry?
So yes, have a price model in mind, but at same time, follow the TREND
Cheers FP - I quite like RI but just wish he had a more engaging way of presenting instead of his low-key, monotone delivery. He was also fairly dismissive of ARB's growth plans for the next 600mW in his recent video on the year end results which I didn't much agree with.
@HarChris - Interesting take and agree with a lot of what you say. One point though is that cash costs are a lot lower than the numbers I gave earlier as can remove the depreciation amount. So ARB has more headroom to cope with further downturns in BTC than perhaps you suggest - though of course this assumes they don't want to spend much more by way of capex (with BTC so low though not many will be investing much I guess). Taking out depreciation, but also adding interest payments, then I think cash costs per BTC mined could be as low as $10k-$15k.
AIG
Totally agree with what you’re saying, what’s the re entry level you are looking for in Argo ?
Good luck!
Right, thank you hexam
To be honest i gave up watching & posting what I used to think were helpful videos on here a good while back.
Most people just seem to want to hear the most outrageous predictions and only care about making money from their investment here in the future.
I like to try to eliminate all risk factors which are a head by taking profits as I go. So concentrate on trading more than watching videos. ( still leaving ample time for arguing though unfortunately) :)
Your efforts are appreciated even more so for this reason.
And I'm sure by many sensible people that just look in here without posting.
'But, what investors need to think about is, is a $20k to $25k cost worth the risk for an asset trading at around $29k, with a likely drop off to <$20k imminent?'
And that's where risk/reward comes into it.
Let's look at two scenarios six months from now - (i) being bearish and (ii) being bullish and compare how Argo might fair vis a vis bitcoin.
(i) Bitcoin is @ $22k, sentiment still incredibly bearish. In this scenario bitcoin has sustained a long drawn out downturn, the interest in crypto & bitcoin mining will have decreased considerably so let's say global hash rate is @ 180EH and some of the less efficient miners are struggling to keep the lights on. Argo is only just profitable at this price and the risks would be obvious (further drops in BTC would leave it unprofitable + no cash to reinvest + no appetite for lenders to lend)
Those investing today in BTC would be 25% down, what would the argo share price be? I think mining 700 coins a month even with the bearish sentiment Argo is still around 50p. Okay maybe it's fallen further, but more than 25%? Share price 35p? Possible but even in this scenario Argo still likely holds up better than bitcoin itself.
(ii) Bitcoin is @ $55k, it's weathered the storm, sentiment has returned to the space and belief in new ATHs has once again returned. Those invested directly in BTC are happy, their $29k buy has appreciated by 90%, what about Argo? In this scenario they arre mining around 415 coins with good margins, does the Argo share price match the 90% (i.e 95p) that bitcoin has appreciated by or do we think it's better or worse? I see £2 a share in this scenario and hence a way, way greater upside (whilst in the bear scenario a similar downside)
Of course one can sit out the space completely but this is just some comparison for investing in bitcoin today vs Argo.
The management tean could not organise a **** up in a brewery
The MD has told everyone to sell there shares and buy riot shares
“My feelings are that the management team are working toward a breakeven point of c$20k“
If they are I think they are being optimistic (unless difficulty stays flat or falls which of course may well be the case if BTC falls as you think it might).
“6 months ago when Random investors true btc cost for argo was posted!“
FP - RI still posts these and I did check my numbers against his latest ones. His were lower but he usually presents them without depreciation and also the cost per BTC has gone up in Q1 largely because of difficulty increase/poor recent mining numbers.
Hexam
My feelings are that the management team are working toward a breakeven point of c$20k, which is their reluctance to discuss anything other than the direct costs, because they know what will happen to the SP 'when' BTC retraces the technical levels