Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
On budget - tick
On schedule - tick
Tier 1 experienced suppliers - tick
Bodes well…..
Looks to me like they are lining themselves up to “under promise and over deliver” on the 2022 annual copper production. At the half way point they are 6.5% ahead of 2021 production and 2021 full year ended up delivering just over 14000 T. Hence if they can keep on going at the improved rate for remainder of 2022 we should see final annual production at around 15000 T which would beat the top end of their guidance by 1500 T (circa 10%). Bodes well.
Historical seasonality data shows a rising gold price is common situation through the summer months…..if it follows similarly this year then should bode well for Serabi.
https://twitter.com/nautiluscap/status/1545450023420305410/photo/1
@chaebol….your suggestion to fast-track the Canada closure/sale etc could have merit. Argo needs to quickly do the financial analysis with sensitivity checks etc for the various path forward scenarios to determine optimum solution to pursue for Canada and timely implement.
@HGN…..irrespective of the Helios operations, the relatively small 20 MW of Canadian capacity spread over two manned locations and filled with ageing air cooled miners is likely going to be shortly in the situation where it will not be meaningfully contributing positively to Argo’s overall performance as the bitcoin global hashrate likely continues to increase.
Its been over 3 weeks now since the drilling commenced at Red Setter. Would expect to get some news about the visual observations from the initial holes, like we got for Halo…….Hopefully within this week.
Likely it’s already planned by management to wind down their 20 MW capacity Canadian mining operations which are spread over two locations (Baie Comeau and Mirabel) within the next 6 - 12 months, when the Helios 200 MW capacity is scheduled to be fully available & they will have gained in-depth experience with the immersion cooling set-up including overclocking.
Makes good business sense to relocate the older generation air cooled miners currently based in Canada over to Helios where the immersion cooling with overclocking can enhance their efficiency and extend life. This would in turn allow Argo to either sell or lease out for hosting their Canadian facilities and get the associated Ops staff off their direct payroll, in order to reduce the overall Company cost base.
Interesting that his investments are focused on this green energy space, with a 4% holding also in ticker: TMOR who had their IPO recently in March 22 (refer to their green energy strategy summarised in first day of dealings RNS):
https://www.marketscreener.com/business-leaders/John-Celaschi-0N3SB3-E/biography/
https://www.lse.co.uk/rns/TMOR/first-day-of-dealings-ksvo8psg7tcb0np.html
Just 1% ? The TR-1 seems to show a new circa 14% holding and previously having no holding.
Premier Miton are well known for taking smart positions in undervalued small cap Companies and they typically invest on the basis of it being as a long term holding. Certainly good timing by them to get in just ahead of getting the 4% dividend.
Bodes well.
Interesting observation from the TR-1 today that the Director who has upped his holding by 20 million shares is based in Dubai, UAE……Business hub of the Middle East…….sun shines there all day, every day pretty much …..would seem a very good place to be located for giving regional management support towards solar power related sales…….just saying.
News this morning:
https://www.lse.co.uk/rns/EDL/board-changes-3p0rrxn1zgkksu3.html
@horseposture……..as per the RNS, BOD has participated for around 20% of the offering shares. That is significantly more participation than compared to most other AIM Company placings. I for one am taking that good level of investment as being a positive.
I am also taking positives from the current high cost and geopolitical tensions associated with hydrocarbons which tend to act as a strong catalyst towards increasing the level of renewables investment and the recent positive regulatory related news for the sector that should further promote for increasing the Solar Energy uptake (refer links below).
https://www.reuters.com/world/us/exclusive-biden-use-executive-action-spark-stalled-solar-projects-amid-tariff-2022-06-06/
https://www.euronews.com/green/2022/05/11/solar-panels-could-be-on-all-europe-s-public-buildings-by-2025-in-phase-out-of-russian-fos
MrA…..these days 2 million USD is nearly the same as 2 million GBP……
Seems a smart move that Avacta have these partnership deals established in USD currency.
Next he may hit them suffering shorts with a cheeky intraday RNS…..he has past form on that front.
Nice………like London buses :-)
@chaebol…..you mention about PW comment on the exahash online at around 7.45……
What I heard him say is “….we cannot control the price of Bitcoin but what we can control is how many machines we install and how much we are able to keep our hashrate online…..”
That to me has a different meaning to what you are implying. I take it to simply mean that Argo is in control of their online hashrate.
Listened in to the session this afternoon. Understandably the content was mostly generalised as they cannot say anything specifically material to the market that is not already released via RNS. They advised that details will come in the June operational update and upcoming end of Q2 interims.
There were a couple of snippets of info that I found interesting:-
1) They mentioned recently hiring someone from the financial markets (derivatives background). It’s a wee bit after the horse has bolted but Argo seems to be learning a lesson and recognising that going forwards they need to get smarter on the financial side of understanding the markets, trading, etc to optimise their financial strategies and this recent recruitment should help support them in this undertaking.
2) They vaguely mentioned about “hedging” and said that they would be saying more about this in upcoming news releases. This aspect sounds an interesting and intriguing development, as in the commodities sector you often get miners entering into hedging agreements for a period of time that protects them from downside price risk (albeit also limiting the upside reward). Will be interesting to see what a crypto version of hedging turns out to look like and who are the customers…..
RNS from ABDX issued mid morning regarding settlement agreement reached with the DHS.
It’s important for DVRG that our testing services partner ABDX has successfully resolved this litigation and consequently they shall be having improved working capital, which could be used for the benefit of our partnership going forward.
https://www.lse.co.uk/rns/ABDX/settlement-agreement-signed-with-the-dhsc-3f5qnup6a54002i.html
Posted on his Twitter account this afternoon…..Where he treads many followers likely copy.
https://twitter.com/baroninvestment/status/1541430669347274759
Nope….the smart ones saw this news on Friday via the Bradclad website and got in ahead of this morning’s RNS.
https://www.bradclad.com/2022/06/24/press-release-june-2022/
Video where Credit Suisse European Sovereign Debt Exposure is discussed from 7 mins 25 secs:
https://www.youtube.com/watch?v=luwXA9W1PvI
and an interesting Twitter post regarding the rising credit default swaps for Credit Suisse:
https://twitter.com/WallStreetSilv/status/1540217000495964160
and another interesting Twitter post regarding the silver link to Credit Suisse:
https://twitter.com/albertherne/status/1540531653583507457
If these are dots to be joined then wondering what could be coming down the line for Credit Suisse and Silver……..