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Grow up

Squeaky bum time for your short Chai, ten minutes to get out

You mean December’s loss?

Galaxy own Helios and host the Argo machines

Are you still short Tiger? Ouch

No need for multiple rampy posts, we’ll see

Anyone who didn’t close before the holiday would have been a fool, like Chaiwala, after the December RNS saying they were in negotiation for refinancing. The long term shorts like Chaebol were well out by then.

It’s a good solution. They retain ownership of machines and reverse the business strategy of captaining ‘their own ship’. Focus on mining rather than infrastructure. They’ll survive to the next bull market. Some others won’t.

“Announcement of Transformational Strategic Transactions with Galaxy Digital Holdings, Ltd.

? Argo's subsidiary to sell its Helios facility to Galaxy for $65 million (£54 million) and refinance asset-backed loans with a new $35 million (£29 million) loan with Galaxy

? Transactions will reduce total indebtedness by $41 million (£34 million) and simplify Argo's operating structure

? Argo will maintain ownership of all mining machines, and Galaxy will host Argo's fleet of Bitmain S19J Pros at Helios

? Transactions will strengthen Argo's balance sheet, improve Argo's liquidity position, and enable the Company to continue operations”

Did you not manage to close your position before Christmas?

Why the renewed interest at this point?

Any evidence for that Devilbhoy?

The lowest this share went before suspension was about 0.08p, and some managed to buy it around 0.09p

It was never 0.0009p so no-one bought it at that price (just a decimal place error)

PS. they are not "both correct" - the correct one is 0.089p, which is 100 x larger than the other one ;-)

not a clue, 0.5p would be a great start but it's only a little AIM company and they might easily get screwed by the banks/brokers going into a placement pricing when it comes.

London shares are priced in GBX (p) not GBP (£)

You've divided pounds instead of pence
£998.88 = 99,888p
99,888p / 1,111,111 = 0.089899

To claim a 'discovery' they have to evidence a free flow of gas from a reservoir to the surface. They came close to doing that last year but they were only able to surface gas 'shows' (bubbles) in the mud flows. Hopefully the refined target based on better geological data analysis will reduce the risk of navigating unstable layers and fault lines. The fact that they're still drilling in the same place, at a different angle, is a really positive sign of increased confidence in that discovery (as opposed to speculative exploration).

Void - "DM have another chance, still undecided on that one"

what is it that you think they did wrong? Virgin drill campaigns are always a gamble but they were able to do a lot more risk reduction research than most (due to the bonus of the Oxford University research). Putting in a light weight rig for a low cost first exploration well was a value for shareholder move that avoided greater dilution. There was a high chance of success, they surfaced significant helium shows in mud samples but weren't able to free flow gas for a 'discovery' in that pipeline (but it's pretty obvious that it's there). They weren't able to safely wire line round the unfortunate dog leg manoeuvre. They were unlucky, it's not unusual. They did more analysis and surveying, sourced a better rig option, easily raised the money for it, and back again to the same site. I've always been impressed by their diligence and communications compared to other exploration companies, which is why I invested in them.

I wouldn't expect to see much sign of wider recovery until H2 2023, even if US fiscal control turns a corner now. But end of Chinese Covid lockdown policy and return to economic growth strategy will certainly have an effect on supply and demand factors globally. Crypto businesses are still regarded as risk on assets so speculative investment still tends to lag behind 'safer' stocks. Once we are back to 'risk off' they will fly