Member Info for BarneyR

Hi GP. It's a good point. Generally if something is worth having, then it will attract a premium.
If the main shareholder wants to pay less, then it can't be quite the "value enhancing opportunity" the BOD has claimed. Bear in mind he will have access to far more information than us. I trust his judgement more than I'd trust the BODs as he has more to lose (or gain)! I'll be selling my remaining shares and reinvesting elsewhere on the next spike. Assuming we get one!

Hi all.

Apologies if someone else has already posted this.
ARB was featured in yesterday's (hard copy) Daily Mail under the Stock Watch section. Just in case you can't get hold of a copy I have typed up the article.

"ARGO Blockchain soared after signing an early deal to use clean energy for Bitcoin 'mining'. Huge amounts of power are needed for mining - which uses algorithms to unlock bitcoins - and it has raised concerns about the effect on the environment.
Argo and Canadian firm DMG Blockchain Solutions will join resources to access new bitcoins - and use hydroelectric energy to power their 'mining pool's. Shares jumped 10.8% or 21.5p to 220p on the back of the eco-friendly drive."

I know that this is news we were already aware of, but the article will certainly put us into the mainstream and should help generate wider appeal. Looking forward to a good week. ;)
ATB. BarneyR.

Hi both. My pleasure.
Indeed. Here's hoping for a positive week ahead.
Good weekend all. :)

Sorry. 'who' not 'you'!!

Hi Cekim. Only if they are looking to unwind a position. Some MM's may not want to get involved at all so they'll make themselves uncompetitive on both bid and offer. This is the current 'live' prices being quoted so you can see you is interested in drawing out buyers and sellers. No one appears to be looking for sellers hence 4 MM's quoting 1.4p. However SCAP definitely looking for buyers with the best offer price at 1.6p. Also reducing the offer price this morning enabled the MM's to offload their shares. It's predominantly blue on the share ticker!! :)
Bid Price
08:20 CFEP 50,000 1.4
08:12 DAVY 50,000 1.4
11:47 SCAP 50,000 1.4
07:30 WINS 50,000 1.4
07:50 MREX 50,000 1.3
07:54 PEEL 50,000 1.3

Offer Price
1.6 50,000 SCAP 11:47
1.7 50,000 PEEL 07:54
1.8 50,000 DAVY 08:12
1.8 50,000 MREX 07:50
1.9 50,000 CFEP 08:20
1.9 50,000 WINS 07:30

How funny!! I pressed the post button only to see some buys going through. MM's raise the offer to 1.55p but have kept the bid at 1.4p. If nothing else it has been an interesting share to hold and watch!!

Hi Cekim. The MM's do this by reducing the offer price to a level that entices buyers. Which they have now done ironically!! Spread reduced to 6.9% and 1.488p to buy through Barclays Smart Investor.
Pad. They make not want to let shares go at 1.50p but sometimes they have to as they can't hold a position forever. They are the ones who have caught the falling knife. and I imagine most of their books are showing red. They widened the spread to mitigate their losses. On the flip side I'm now thinking sub 1.5p is worth a punt!!

Morning Pad. I'm afraid I have to disagree. The wide spread has nothing to do with MM's wanting ORM shares. It is actually connected to liquidity (or lack of in ORM's case) and / or volatility (a rising or falling SP). MM's widen the spread to compensate them for low trading volumes or choose to benefit from a falling or rising SP. I agree that not all trades appear to be showing on LSE, but ORM sitting at 1.4p bid now tells its own tale. Only a deluge of buys (increased liquidity) or a positive RNS will close the 14.29% bid / offer spread and result in a higher SP. Sells have outweighed Buys for a couple of weeks now. The MM's are therefore sitting on ORM shares currently and will need to unwind their position at some point.

Hi GP. I'm good thanks. :) Apologies for the delayed response. I hate it when work gets in the way of my personal life! ;)
Yes. The proposal was up to $800k, in either cash, or a mix of cash and shares. If the copper site is as "value enhancing" as claimed, then it really makes no difference how ORM pay for it, as long as the seller (licence holders) is in agreement. I can't see there being any issue for ORM as a company if shares form part of the deal. Better to issue shares than pay cash in my view. However, I'm wondering if the objection from the large shareholder is due to him not wanted his holding diluted. If he wants to retain his percentage holding he'll need to invest more money to maintain it. Maybe this is why he objected?! Perhaps someone else on the board is more up to speed than me?! Either way, the length of time this has taken has not been advantageous to anyone.

roscopiko. I'm pretty certain with ORM's monthly burn we are no longer sitting on 6m euro! Judging by historic accounts I estimate we have c.5m now. The cash deal becomes harder to execute as we will need plenty of working capital when (if) drilling commences.
With regards to 'adding more' we can now buy at £1.57 so ivans' wish is becoming reality. I have no desire to do the same. Even if they manage to complete the deal I have no faith in the BOD to see it through to profitable fruition. This is just a hunch based on my past 5 years experience holding this stock. I have only just realised that you can make the word MORON out of ORMONde. I have switched my Opinion to 'sell' which is exactly what I'll be doing when we finally get some news.

Like pretty much everyone else on this board I'm down too. I now hold 100k in my ISA at an average price of 13.9p. Frustrating as I got close to breakeven at one point. However, I fall into the LTH category so I'm sure we'll see a spike in the SP once we get a couple of positive RNS's from the company. The fundamentals are exactly the same as they were when we listed. There is no need to panic. I'm sure it will come good for all of us. Too many influential people involved for it to be languishing at this level for ever!! GLA.

I couldn't sell my 300k through Barclays Smart Investor either.

Looking at the last 60 published trades 78.33% were sales. Transaction amounts were 5,196,825 sold against 2,573,736 purchased. It looks like the MM's needed to unwind their position. It doesn't look great in all honesty unless the BOD are planning to pull a rabbit out of the hat!

My pleasure GP. :)
Agreed. Very few trades. The spread has been reduced on the offer side to entice buyers. MM's may need to unload the shares they have picked up in the auction. The more I think about it the more it seems the share trade was a sale!

Hi GP. I may be wrong but my understanding is that a price monitoring extension informs the market that there is a discrepancy between a large transaction that has taken place (usually through an auction) and the last automated share trade. An RNS is put out to notify shareholders (and non shareholders) that this has taken place and they are basically designed to reduce volatility in the market. The cynic in me is assuming someone has unloaded their shareholding below the current bid price. An optimist will assume that a buyer has done the opposite! Happy to be corrected if my understanding of it is wrong.

I agree with the sentiment. Majority of trades are sells. For the ORM board to be silent this length of time is unacceptable. A single sentence from them informing us that talks are still ongoing would have steadied the share price. Even if they pull the deal off, my confidence in their ability is low. Every week that passes erodes our cash position. I wouldn't be surprised if they pull the deal off and then not have sufficient funds to complete the project. There are too many negatives. IMO there is more upside in my other shareholdings so I'm thinking of bailing out to be honest.

I agree with the majority here. I have just read his Twitter feed. It is completely contradictory. One tweet ARB is the best thing since sliced bread, the very next he completely derides the company and PW. Either he is schizophrenic or a pathological liar. I filtered him on LSE the moment he became spiteful and vindictive to others. The frustrating thing is that he has continued to dominate this board as everyone seems to want to engage with him. Now that he has sold out there is no reason for him to post here. If he re-appears, just filter or do not respond - pleeeease!!!!

Well done JimmyJeses. Always good to hear when things go the right way for fellow investors!
I have not attempted it just yet. I'm convinced that the moment I do it, I'll miss the upward rerating! It feels like it's just around the corner (IMO)!
Novicehunter. Totally agree that the board looks so much better without the clutter!!
Have a great weekend all.

Hi davad. Just so you, know Obstano is an argument troll and is on my filter list and lots of others (particularly on the ARM board). None of us mind balanced views and actually it's quite healthy when there is rationale behind it. But to say CBX will be doing another share offering / fund raise only a few weeks into launch is frankly pathetic. Just filter him!

My pleasure goalie1 and thank you. It's just my view and we can only judge on what we know. 30 years of investing has taught me a lot of things, and to be honest I'm still learning!
Hi Pondering. It's much the same from me with ORM in % terms. I used to have a much larger holding but fortunately reinvested 80% of it elsewhere before the drop to current levels. Even though ORM is now only a small holding for me, I still get frustrated by the snail's pace we appear to be moving, together with the lack of transparency to shareholders. And of course over the years I've been invested I have experience a catalogue of projects that have never really lived up to expectations. Yet here I still am living in hope that the latest 'initiative' will be the game changer and that we all benefit from it. Hopefully we won't have to wait too much longer. It reminds me of waiting for our exam results!!