Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
LSE - You would of thought for a company that offers subscription services, including RNS alerts that they would publish all RNS's. Very poor.
I think HIVE margins are not great. They turned machines off back in October when BTC fell to below $7k. I might be wrong but I think they also have a fair mount of debt.
I am assuming that the purchase of assets in the interims of £18m included the order for 5000 S17 for $13m. This was replaced by an order for 10,000 T17's at a lower price of $9.5m. Would that then have reduced the purchase of assets amount or does that only include the deposit for the S17's.
Estimating £10-11m
5.6m at the end of June.
2.5m from machine order change
3m made from BTC H2
2m made jan/Feb if they sold them
Allow 2.4m for hosting overheads during H2 and 2020 (conservative)
Let me know if I have missed anything.
I would imagine the company will only advise strategy going forward based on BTC price after halving. With cash in the bank they may buy more machines if BTC price is somewhere near $12k in my opinion. Makes sense to me to use the capacity we have now rather than wait a few years. No doubt we all have different opinions on the way forward, which should lead to healthy debate.
My preference would be a dividend, but would not be annoyed with a buyback. Sellers mus be on fumes now and may be cleared before full year results are published.
If the price stays the same as now, some miners will switch machines off and difficulty should then go down. Therefore we may mine more than the 50% due to halving, so could mine 180-200 coins after halving. If BTC price rockets then expect 150 coins after halving.
I would be surprised if we see the SP go any lower even with a drop in Bitcoin price. We must now have around 50% of the Mcap as cash in the bank. And making £1.3m+ a month. Hoping to see a bit more PR from the company after a March update.
Bitcoin on the move again. Saw a couple of chart videos on youtube the last couple of days that suggested a correction between 20 and 24th Feb and providing that bitcoin did not go below the 200 mda of $9366 then we should be off to the races next week or so.