The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Fred talks a very convincing game but have to wonder how committed he shareholder value. Dilution my main gripe but then that's this faustian pact with miners we all face to one degree or another. It could be done more sensibly but ultimately I've come to terms with it being necessary for expansion. As we know without expansion market would punish even more (argo).
Blimey CLSKBull really came out swinging against Mara. Valid on operational problems and I do have some concern around inconsistency of messaging. In Jan it was weather related, fair enough but now it's Spring. Ellendale site given as main reason now, but if that was "nearly back to full strength" on March 5th we should be seeing better numbers this month. They could actually learn a few things from Corz's consistency here, how they manage scale despite challenge of running older hardware overall.
All a bit unfortunate timing down to last month of this block reward, it's going to be a rough quarter - but keep in mind these issues are short term. Before January they've outperformed for a long time and no reason to think that won't happen again. The other stuff I have less of an issue with. Personnel a non-issue, seems they're retaining Applied staff for latest site, and can hire anyone they need. Hedging a bit annoying as we said at time but small fry really.
Dilution always a pain but hopium here is once they've bought enough sites and are more self-sufficient, they'll surely pause. When all sites 100% again and assuming btc does its thing they will have far less need.
For me it comes down to price, I don't see it as a binary choice between miners. I like CLSK and hold it but they are priced for perfection, Mara represents better value to me at these prices so I hold more.
Not up, that's your wishful thinking. Any inorganic pump would be temporary. Couldn't have been much clearer concluding direction this goes, which you'll know now you've read twice the last sentence of my post you keep going on about.
If that sarcastic reply was directed at me I'd suggest you re-read my post and try to understand it this time. I appreciate you must be hurting if you held this all the way down, but you'd be better placed lashing out at the company rather than any particular poster here.
It's a bit laughable for you to try and play critic when I don't see you providing any analysis whatsoever, or in fact ever posting anything of any worth at all.
True for full year accounts, should have said 30th April rather than 28th March there
@fgha I'm a bit shocked you were blocked for that post. It was reasonable, unemotional and factual. Him blocking you for a post like that actually reveals quite a bit about his character, particularly tolerance of views that don't exactly align with his own.
The thing is he is the one who has chosen to communicate via social media and take this company public. As a large shareholder you should be entitled to have a say using his platform of choice. The whole point of social media is interaction, it's a two-way street, speaks volumes that he thinks he's entitled to use it just for broadcasting, and allowing comments only if they are positive.
Shows how useless these newspaper share tips are. At least they admit they got it wrong recommending the equity before share price went on to collapse. More than can be said for quite a few rampers on here when it was 30p+, who seem to have now gone very quiet?
I wouldn't bank on 9p holding, could fall further depending on sentiment. Equally it could be they'll pump it up with news flow once Diggle and co are allocated their shares from April, to give him option to dump again if price gets high enough. Beyond that the biggest overhang is lack of revenue. Despite all the bluster they're still a long way from being self-sufficient and cash burn remains high, so only a matter of time before the begging bowl comes out again.
Will be very interesting to see what auditors have made of all this. If they've not signed it off, depending on how open the company are, first signal of something amiss could be a delay in publishing accounts.
Management must be approaching boundaries of trading insolvently, certainly if they continue status quo. With early Easter, hard deadline for publication is 28th March, failing that suspension the following week. One way or another it has the feeling of an end game.
Considering buying some Applied Digital. Not in myself yet, need to do bit of reading but could be useful offset to Mara holdings. Not so much as a hedge being so interlinked, but my thinking is inevitably one of them will end up getting the better deal on this/other future sites, and I'm heavy only on Mara side.
Also like they've explicitly said they're not doing ATMs, more insulated from miner legislation, and while there's a bit of a gold rush for these sites.
Transaction fees are an underrated part of the story for sure.
Another story today is Mara buying a site from Applied, accounting for 4.5EH. Saw an Applied deal coming as mentioned yesterday, if anything would like see them buy more. So far market thinks it's good news only on the Applied side, miners in general probably a bit too unloved at the moment for market to get overly excited on Mara side. But at least something tangible coming from the ATM, and in the longer term actions like this will reduce costs.
https://www.globenewswire.com/news-release/2024/03/15/2847005/0/en/Applied-Digital-Announces-Agreement-to-Sell-Garden-City-Campus-to-Marathon-Digital-Holdings.html
I would say not to expect share price recovery any time soon. Momentum is killed by market knowing there are an enormous amount of 9p shares hitting the market in April. Inevitably a good proportion of those will be sellers of anything above 9p, whether existing holders now to arbitrage future shares due, or new holders come April.
All a bit weird how MM has been so keen on Iain throughout, seeing something market never did, even to extent of undermining company's positive news of him being ditched with Linkedin rant. Keeping him close keeps a lid on some secrets no doubt, especially around that fake bid. They're lucky the FCA is so sleepy, Belerion should have been done for market abuse.
Saving grace of LSE is annual AGMs and shareholders ability to vote on directors, even if this type of accountability is everything these lot don't like. It definitely will have helped smooth process of getting rid of him, his awareness he'd have been up for an even greater roasting in next AGM.