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Argo needs to make a case for investors. Currently there is 0 transparency so there is no investment case. Very little new money will come until the results/strategy are released. 38 employees sounds a lot of employees if 2EH of their 2.5EH is hosted by a third party.
It will be interesting to hear their plans when they discuss in the AGM. They are up against it though. 2020-2021 there were less shares on issue, less competition/difficulty and no debt. I don't know how they move forward from here but will be interesting to hear what Seif has planned.
I thought there'd be more discussion here from the people that claimed they wanted to talk about Argo.
Anyway.....
Here's some key points from the RNS:
"the PSUs and Share Options both contain performance conditions relevant to Mr. El-Bakly's role"
So they are performance related - presumably these details will come out at the AGM.
"On 9 March 2023, the Company granted 6,839,980 RSUs in aggregate to the rest of the 38 employees"
He's spreading the love. Also verifies there are 38 employees.
I don't think this RNS is necessarily bad - but some context from Seif would have helped.
HC I think it would crash with markets as you say. It did so for Covid, and every day we see high correlation with S&P 500/etc. Every so often it disconnects for a bit then carries on in correlation at a different level. In a market crash I'd expect it to crash.
dagenham I get that and have taken note of the occasional "why doesn't anyone talk about Argo" posts that get upvoted - but none of these people are actually posting anything about Argo - we get ongoing price commentary but that's about it - It will change when Argo releases some information, or a bull run kicks off interest in the company.
roger65 - Argo was near to bankruptcy recently but managed to survive by selling their flagship mining facility - Helios - existing mining machines remain hosted there (costs unknown).. The CEO and CFO have left and we haven't had much update or clarity since so there's uncertainty around whether Argo is a good investment or not. When it survived bankruptcy it jumped up, but it has not really tracked bitcoin movements since then. Hopefully some more clarity from the company will come soon - they suggested AGM - which is probably late April.
If that scenario plays out then I would expect a rise in Bitcoin as the terminal rate is less of an issue than the threat of ongoing future rises. A pause is a step towards easing. That all said I'd much prefer to be wrong and he cut by .25 that would be funny.
HC, oil is down which impacts most prices, plus the impacts of inflation to date and the higher interest rates. Wages have not kept up with inflation and there's a month by month trickle of debt moving to higher interest repayments choking demand. It takes time (lag). I still see it coming down.
Fair enough about 15 sounds right.
Riot and mara don't have that hash energised or at least their mining doesn't reflect it. Think they mentioned a 5 gw nuclear plant in UAE which is not free electricity, and depends how much spare there is in that. Build costs are high even for immersion.
Hash has grown a lot lately, not sure who is doing most the growing. Difficulty shows the hash increase.
I listened and didn't hear 15 j/t mentioned (could have missed it) but the XP's are the best machines on the market at the moment for sure - especially if you plug them in lol. He went on about full stack but it wasn't as they aren't producing machines, and they aren't producing power so that's nonsense. He mentioned bladed machines for immersion - that makes sense but who is the supplier - ePIC? It's not what they currently have unless they renovate the machines somehow. He was right about cost of power being key - and free power being the ultimate. However with UAE they will own 50MW of production which is nothing - CLSK are currently expanding their 50MW followed by 150MW later this year. He also went off on a tangent about 6 months of the year there being high demand in the gulf with air con - so do they turn them off then is the obvious question? Lol I'm hoping the bull run is before the halving but still to see. It is now 50% harder for them to convert these shares and it sounds like they need more money if they want this additional expansion so maybe they never reach conversion.
If we include infrastructure assets, bitcoin and debts it just skews it further as mara has so much debt that outweighs their bitcoin holding. I see they are now wanting to switch to self hosting rather than 3rd party hosted going forward and building a mara helios in UAE. Any word on what the 50+mil shares were for? I'm not expecting 1:1 valuation, but 1:7 is crazy undervalued.
Same for the Credit Suisse bond holders - one of the most boring investments in the world - bang to nothing. All investments are risky. Bitcoin and crypto are volatile, but tend to offer much higher return for each unit of risk. I wouldn't feel my money safe in any single share/sector - anything can happen out there - this sector participants are aware their stake is at risk but are in it for the hopeful return.
Correct (ish) - technically the first day of the month for Riot and CLSK is revenue from the last day of the previous month - however it's easier and much the same to just go with calendar month.
Yes, the results are incredible for CLSK as you rightly point out:
Mara - 502 = 100 BTC per 265mil of mcap
Riot - 482 = 100 BTC per 298 mil of mcap
Clsk - 413 = 100 BTC per 49 mil of mcap