Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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PW also comments on their hodl strategy a bit in part of the latest Q&A, worth a watch if you're questioning what they do with their coin
Buyerspromise - as someone has already pointed out 163 refers to the number coins that were mined in April (not the current holding or value).
The point you were making though seemed to be that ARB hold on to all the coins mined and rather than come cap in hand to shareholders that they should spend some of their btc instead.
It is simply not true that they do this though. As I said, last year they sold almost as many as they mined or bought. This is part of their strategy - they don’t simply HODL everything but try to choose what is best at the time depending on prices, risk etc. Responsible management in my view.
Thanks Herdie - completely agree it has to be risk reward when investing. Argo has such a large potential upside that it outweighs the risk, and on top of that Peter is a great CEO who is fully aware of risks and does not do things to put the company at risk - he can be too risk adverse sometimes - but probably not a bad thing - he certainly knows an opportunity when he sees one though.
ArgoBull,
I never really understand that point of view either. It’s certainly a high Risk high reward share where as some are low risk low reward but every investment carries a risk. How many times have I heard the saying they are to big to go down only for said company to pull the shutters down the next day.
Yes, 163 was the April mining figure. And monthly figures set to improve further
Buyers Promise - in the next few days their hodl will hit 1000.
You said this share is a pure gamble. I would love to know what shares you think are not a pure gamble as every sector and every company has risks.
Hexam I think their last report said they had a 163 in hand
lots of digital currencies before bitcoin Hashcash bit-gold etc Yes I made a few dollars now have it invested in the stock market still have 27.58 bitcoin I keep regardless of the price
Buyerspromise - you were involved in crypto since the early 2000's?
Bitcoin came into being in 2009.
You must be a multi-billionaire if you held any of the coins since then.
Throw a few bil into Argo please to bolster the share price.
ARB bought/mined £28.8m of Crypto in 2020 and sold £27.3m. So I'd say they've used a fair amount of bitcoin to finance things already?
I really have difficulty with the management here they seemed to be wanting to dilute the share at every cut and turn. rather come to shareholders for cash why not use some bitcoin to finance things . As someone involved in digital currency since the early 200os and have been on several development teams I know how easily bitcoin can crash and at some point, heavy regulation will come from the Biden administration this share is a pure gamble.Yes buy a few shares but know the risks involved
Unfortunately for us the US market of late has been a bloodbath - Once sentiment returns we will be off, It’s why I’m not that perturbed that the Nas up list hasn’t been announced yet as would be awful timing at the minute.
Share price is driven by US market action - every day we await 2:30 BST to find out what's next!
Fundamentals are really good, in profit and doing bloody well, but the sp tanks..... when will we be back to 250 range again?