Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Exactly, either way this has much higher to go now and the buyback will just fuel the price even higher
I make that around 5.3p per share
Sorry seen it on the website.
“Share Buy Back in 2024 at NAV
The Company has announced that it will purchase up to 857M of its ordinary shares in a tender offer at an amount equal to the net asset value of the Company per share.”
So the price will be the proceeds less tax liability for 85% of your shares!?!
Is the intension to sell all the crypto and do the buyback using the proceeds less the tax liability which would leave a cash shell with no assets or is it a partial buy back leaving some cash for future investment?
“The size of this taxation liability will depend on the size of the buy back which has not yet been determined. However, the Company can advise that it anticipates the taxation impact to be in the range of 0.7p to 1.1p per share.“
Noisy - Agree
Ethereum have got catalysts coming up as the big banks push for ETF's,
Solana's got a system where the more adopters, the more coin buyback and burn's they do.
Either way there is a clear strategy to exit now from the company and they are clearly waiting for the next spike to capitalise for the shareholders.
The Crypto market looks like it is consolidating nicely from that initial rise this year and I feel like its gearing up for another push into ATH's. Which could result in a NAV here of 10p+ quite easily. IMO.
BTC is only around 38% of the portfolio, IMO the Ethereum and Solana holdings could power up the NAV
The trick here is calculating how much bitcoin you own
(Bitcoin owned/market cap) * your shares. For every 100,000 shares you have 0.0617444012884044 Bitcoin ~£3300 today. It'll cost you £4100 to buy 100,000 shares and the own other digital assets. We're in a bull run in looking forward to seeing what happens to bitcoin over the coming months.
I'm not sure, maybe people are too lazy to figure out how to buy as not all brokers have access. Just like in crypto you make the real money when it's more difficult to buy. The share buy back should make this intresting
Why hasnt this moved toward NAV?
Has much further to go to bridge the gap as Q1 NAV 7.38p, expect tender buybacks to kick in shortly, that will add momentum too as this is way undervalued
Great to see we're way undervalued. Fantastic RNS detailing what's going to happen and the NAV of the shares
Update Q1 NAV 7.38p
Bitcoin
BTC
623
42,595,550.41
Ethereum
ETH
6,794
26,786,160.28
Solana
SOL
86,396
12,700,212
Optimism
OP
732,899
3,268,729.54
Lido Dao
LDO
396,109
1,311,120.79
Cosmos
ATOM
57,902
766,043.46
Near Protocol
NEAR
225,362
1,212,447.56
Iron Fish
IRON
60,938
152,954.38
Stablecoins
USDT/USDC
203,220
$4.19 million in cash & other investments
Total around $93,272,413
NET ASSET VALUE £72, 460, 073.13
CURRENTLY MARKET CAP IS £37 MILLION WELL UNDERVALUED
Net Asset Value just keeps on going up here. Well undervalued.
Thanks Vision, exciting times lie ahead!
Typically there is a dump pre-halving and the real fun starts after the halving, but because of the ETF dynamic and institutions buying BTC like there is no tomorrow (suggest you have a look at this video: https://www.youtube.com/watch?v=mbKHn2-xNzM), I wouldn't be surprised if BTC just goes up much higher than anticipated, at least until April. My theory is it gets a little overheated by then, we have a "surprise" dump or sideways action for a few months which would at that point allow Alt coins and especially Eth & L2s to go on a legendary run. BTC then goes stratospheric going into November 2024 US elections. Essentially none of the above would put much pressure on the PNIX PA since they own loads of *prime atl coins too, especially Eth which should have its own US based ETFs approvals in May!
Post US elections, I would probably start considering that crypto starts retracing, maybe even a return to a bearish market. But BTC might be at $100k or $200k; $250k+ by then? Anyone's guess where Eth, Sol etc.. price might get to... Just my theory on the matter... Been following & buying crypto since 2017 - I'm not a true OG but not a beginner either.
Do we expect bitcoin price to continue to grow after the halving or are a lot of the current gains as a result of FOMO before the halving happens?
Thanks mbvb2 for taking the time to post the current nav 6.5p. Alot of catching up to do and plenty of upside from where we are.
£34.10 million mcap as of 28/02
Phoenix hold the following:
623 BTC = $39.45million
6794 ETH = $23.64million
86396 SOL =$10.07 million
732899 OP =$2.86 million
Others $3 million approx
$4.19 million in cash & other investments
Total = $83.12 million
Total = £65.64 million
Equals approx 6.50p per share
Current price 3.50p per share
Wonder where NAV is now with bitcoin flying much higher - my view is we are well above 5p, anyone done the calcs?
thanks in advance
It just gets better with Net Asset Value. When demand grows but supply stays the same what happens??? To the moon my friends.
Held this share for a while & looks like things are on the up 👍
Do the calculations on the coins we have the net asset value just keeps on growing. I believe this is very undervalued. Bring on the share buy back!!! Hopefully starting late April
Our Net Asset Value just keeps on going up. Do the Maths. The buy back is at NAV.
And we are worth more again bitcoin at over 52k and eth at around 3k. The Nav just goes up here.