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"No ones going to be buying in huge quantities before any funding is announced."

People keep saying this but seems like a red herring to me. Plans are already in place to double Argo's hash this year, building on schedule, machines ordered. There may be more to come of course but the range of future financing options is contingent on rolling out the first stage first. Once the first building is complete then it could be mortgaged. When the hash increases more BTC could be staked or loaned against. Existing machines could be moved to Texas and overclocked with immersion to increase production. The building could be used partly for hosting/pooling fees. Agreed, that needs to be clarified but what's already in the bag is already transformational.

Next news should be TD and start ofwire logging then?

Qatargas were on the speakers' list

jumped yesterday and came back down again today?

"Previously I thought this might be a short term P&D, I now think might be some truth in a takeover or someone just buildings a sizable position."

and on a Friday you'd expect to see more dumping action by now to close positions. The trade volume was about seven times the recent average yesterday and heading for at least half that today

Did you pick the wrong Friday to close your position?

How high would the SP need to go to burn your short?

And you went to all the trouble of signing up on LSE with a brand new account just to warn all of us investors about this in your first post? Thanks so much for your personal service, much appreciated!

"If there’s a price monitoring RNS after hours does that mean it’ll open higher or is it just delayed ?"

just allows more time to cross the final auction

They're right, financial institutions and countries have to be concerned now about hedging the upside risks of rapid mainstream adoption leading to supply squeeze, obviously balancing that against downside risks of volatility

no panic at all, bouncing around the same band we've been in for days now, and a few more days yet before any likelihood of real action

they invested in a mate's company. Company spent the money on development but failed to deliver a suitable technology. If they reclaim the money then mate's company probably goes bust. As you say, an independent Chair would have pulled the rug.

It's still a supply and collaboration deal, and Argo are hosting Epic's R&D at their facilities. As reported in August...

"Argo and ePIC have agreed to amend the agreement. Under the amended agreement, the initial purchase order was
cancelled and, at Argo's option, $5 million deposited with ePIC, in whole or in part, can be applied to the purchase of ePIC mining machines or ePIC common stock or repaid in full."

Plus moving the existing machines that we now own rather than lease (as a result of the Celsius settlement), from Core Scientific pool down to Helios where we can immerse and overclock them for additional hash gain from existing resources

"My guess is that these machines take up 100MW of Texas, and add 2 to 3 EH"

yes, I think we already have confirmation of plan to go from 1.7 to 3.7EH in 2022. Last year's order now installed took us towards 1.6-1.7EH at 45-50MW. There are 20,000 S19s in the order already made, plus whatever PW is now buying on the cheap or from second hand Chinese market, plus the deposit remaining with Epic for co-development and priority supply of their future rigs.

"Once up and running they could perhaps mortgage"

that's what they did in Canada on smaller scale

Texas is more than a 2-3 year plan, and the first phase of install will be covered this year because they won't be using only new machines or full price machines because it's immersion, and they'll be overclocking to achieve the greater hash with fewer machines. If you read the most recent FinnCap valuation note the forecast assumption is that Argo spends about £70m on building in 2021/22 and £60m+ on new machines in 2022 (so around $180m, which was roughly the IPO raise and associated notes). On that basis the note valued ARB at 270p end of the year, with £110m revenue at BTC=$50k, but I guess they'll also mortgage the facility and borrow against the increasing hodl if BTC price rises above that assumption.

"if they can improve and grow quickly getting better results in Stanley-5 and Winters-2 initially then great"

There seems to be little track record of this BoD delivering better than expected results on any promised growth objective I can think of so far.

"Thats not true and very silly. Sp and mCap are different things."

Err... they're really not. Market capitalisation is literally the value of a company's shares (mCap = SP x number of shares). It's nothing more or less than a measure of what the market thinks the company is worth at a moment in time, which may differ from what the fundamentals suggest.

For example, if you look at the new research note from FinnCap - "At 82p and using a BTC price of $50k in our forecasts, Argo is trading on 12-month forward multiples of 2.5x EV/Sales, 3x EV/EBITDA and 8x adjusted P/E, with +50-80% NTM growth in each metric." This leads them to a valuation of 270p in 2023, after completion of Texas.