Member Info for ART123

Damned RTO!! That is what has caused a lot of the problems here. It would have been better if they had done an IPO - like Helix at the time.

A few are available now at 0.73p. Better be quick as they won't last long.

With the continual lack of available shares, the MM's could have moved this up a bit quicker and the share price could easily be 0.80p/0.90p by now. As it is, the MM's are giving No Quote for virtually all the buys and then only meeting the buy orders/requests when they have acquired enough shares from the trickle of sells.

Interims are out. To be honest they are lagging behind other similar companies - SWC and Coinsilium - and with only £250K to invest (enough for 3 bitcoins) and no firm plans to sell their Solana (which they value at £462K) then they are probably going to have to raise some more cash very soon. Placing imminent!!

Top of the Risers board already!!!

Yeah, I looked at it around opening at 0.39p/040p and thought that it would probably drop nearer to the placing price at 0.325p so I didn't add more but no, it was off and up and hasn't looked back since.

Blimey, no hanging around here. And the presentation is on Monday, so that should give the SP a good boost too. RNS due today with webinar details. (It's not on Investor Meet).

I'm not too bothered here as I bought in last July/ August, got completely blindsided when the share price started to fall and forgot to Stop Loss my holding and before I knew it I was about 65% down. I then completely forgot to average down at 5p ish and watched as the SP climbed back up, though still leaving me underwater. I have every expectation that the share price will rise when the rig is mobilised and now this fallback may give me the opportunity to average down as well, though I will definitely wait for the accounts to be issued and the share to come out of suspension first.

My other thoughts: Hamilton is a COMPLETE CLOWN - though fortunately there is a limit to the amount he can continually muck this up even though he appears to be doing pretty well so far.

ATB

Bad news - and no wonder the accounting delay. If you click on the 'ON HOLD' link then the drilling application for Hussar 2 and the one that counts - SOP-WLA-0193 - is shown as Placed on Hold. However this is not too serious as if you click on the Application Number it links through to the Stages in the Application Process where the following info is available: -

Assessment: The application is referred on to the relevant authorities (internal or external) for specialised assessment.

Https://pgr.dmp.wa.gov.au/PGR/ApprovalsTracking/ApprovalsTrackingResult.aspx?d=%2fxafR%2f74B0PcNn%2f9jV%2fwWWZ2D34N6cCUyYC29EXUhCrKegR2g1ZC01fXNYQR3CAzsLqJcvncOQ0%3d

Click on the Approved link.

However what we are waiting for is the approval of the Drilling application and this is not the same. That has the number Drilling Application (SOP-WLA-0193) while the Exploration Permit Fullfillment has the number STP-EPW-0084.

Well at least that is the Directors paid for the next year. They look quite an expensive bunch.

I am still not sure how they intend to scale up this business - defence is a high value business and not immediately suited to ultra-small cap companies - but I'm sure that the management have a plan. Maybe details of how they are going to go about it are in the 5 Year Strategic Plan which I haven't got around to reading as yet or more probably the Board will make things clear in the Investor Call on Monday which I will be listening to.

It looks like OTC finished well down last evening - Yahoo gives a close price of $0.0925, which is about 6.875p but that seems quite high as most of the rest are quoting $0.079 which is about 5.875p. Checking on the trades, the last but one sell went through at $0.925 and the final trade at $0.79 but it was for a larger amount of shares.

Just waiting for 2 words - bitcoin purchase - and then the fun will begin.

Some research for anyone who might be interested.

The m/cap here is only £3.2M with 824 million shares in issue after the placing. In comparison Coinsilium Group has a m/cap of £24M and rising, while The Smarter Web Company (SWC) has already got some way along the path with a m/cap of nearly £200M. Cykel Ai, which is also taking the same route and planning a placing for £750K to launch their own Bitcoin Treasury Reserve Strategy, has a pre-raise m/cap of £13.28M.

SWC have taken the lead here despite the fact that they only IPO'd just over a month ago - 25th April 2025 to be precise - and have completed 4 placings in a very busy month during which the share price has risen from 2.5p (the IPO issue price) to £1 today. Each placing has been accompanied by Bitcoin purchases and each raise has been for a larger gross sum and at higher prices (25th April - £1M at 2.5p; 8th May - £2.24M at 16p; 15th May - £3.45M at 27p; and £6.83M at 49p).

Incidentally I am researching this information in arrears as I missed the rise at SWC completely, as I am finding did most people on here. In fact there are still only very few posts on the SWC board despite the huge increase in the share price over just a matter of a few weeks. I'm not sure who is doing all the buying there but it certainly doesn't appear to be us PI's.

It looks to be clear that if Cel Ai is going to get anywhere near emulating the huge rise at SWC then the management will need to buy Bitcoin with the funds from the recently completed raise and then raise more cash and buy more, etc, etc and if they do this with the same enthusiasm as The Smarter Web Company then we may see a similar sensational rise here.

ATB

On thinking about it, the mcap/share price/ NAV - call it what you want - has to be the number of bitcoins held times the current price of bitcoin. In this case, 58 bitcoins each at a value of $109,000 - so just under £5M - plus whatever the remaining business is worth. Then if the price of bitcoin goes up, then the NAV/ mcap will increase and if the price of bitcoun goes down - as it did recently to a low of around $75,000 - then the NAV/mcap will fall.

The m/cap here is still less than £5M. This could go anywhere over the next few weeks. There have been some very strong upswings of late of minnows on the market (IPO's, RTO's and change of direction with new management), with AI in particular leading the way. There has even been a Bitcoin buy and hold company that IPO'd on Aquis which has gone from a few pence to nearly £1 with a £180M m/cap despite only owning 58 bitcoins which are worth less than £5M. This is something completely different and the upside could be huge.

Alternatively, SWC have 187,642,667 shares in issue. So at the current share price of 97p that gives a m/cap of £182 Million which when divided by the 58.71 Bitcoin they own gives a Bitcoin price of £3,099,982 per Bitcoin. Talk about whacky. By the way, Microstrategy also have a $400M + revenue existing business that goes alongside their Bitcoin owning strategy.

Oh, and MSTR is the ticker for Microstrategy or Strategy for those who are a bit thick. That is the valuation of the BIG ONE in the USA and it is not even 2 times the value of the Bitcoin they own.

Wow, I missed this one completely. It would have been rather nice to have got in around the IPO placing price. As far as I can make out, and please correct me if I am wrong, this now has a valuation that is ginormous even by US very high valuations metrics.

MSTR currently own 580,250 BTC which at today's price of $109,000 per Bitcoin is worth $63.24 Billion - I have checked this on Google and 580250 times $109000 = $63.24725. MSTR today have a m/cap of $101.03 Billion - which is not double the valuation of the bitcoin held but is certainly much higher.

SWC own 58.71 bitcoin (that is just over 58 bitcoin) which at today's price of $109,000 is worth $6.39939 Million (£4,722,749). However, currently the m/cap of SWC is 189 million shares times 91p which is about £172 Million which is a staggering 36 times the value of the Bitcoin held.

At this valuation, MSTR would have a m/cap of $3,637 Billion (which is higher than even Nvidia ) against today's m/cap of $101 Billion or alternatively at MSTR's current valuation, SWC would have a mcap of around $10 million with a share price of around 5p/6p.

Of course, if Bitcoin does go on a ginormous upswing, and anything is possible these days, then the valuation of owning Bitcoin would go up compatatively but for now Bitcoin is at $109,000 and that is the base valuation to follow plus some upside as is reflected in the MSTR valuation.

Very whacky.

Even more insulting to us poor old shareholders, who are having to put up with a share price that is trading well below even the IPO price, is that the arrogant directors awarded themselves 6,500,000 - yes, that's six and a half million - free Performance Shares 'following the increased mineral resource estimate of the Company's EP513 asset'.

How ridiculous can you get. Mineral resource estimates count for nothing until the prospect has been drilled and the gas, particularly the helium, is found to be present and flowing to the surface. Then it might be time to get a mineral resource estimate sorted out but not before the well has even been drilled.

The drill is 5 months late and counting and it is time that these over-rewarded directors informed shareholders of what is going on, how long the application is likely to take and when they might bother to get a drill underway.

ATB