Member Info for Blubay

"Arb is 100% of all pots.. Sipp, Isa, liquidated ETH, Savings account.. The lot.."

Wow... good luck with that

Good to balance the commodity with the stock but remember there's no ISA tax free return on trading coins and there's no upside leverage on the BTC trend, which you should achieve over time from exposure to company growth in a BTC miner. If you want an "emerging growth" company to grow then you need all options for investment in that growth. The suggested IPO level is smaller than expected and aimed at an entirely new market of shareholders who can't buy the existing shares. There is no reason to expect this to have a negative effect on the SP, and likely the opposite. The proposed costs of Texas also seem lower than expected and the payback from that will be huge by comparison with a suggested $75m raise (if that's correct).

No problem I can see. The condition refers to the "most recently completed second fiscal quarter" (not most recently completed quarter). ARB fiscal year runs from 1 January so Q2 fiscal is the same as Q2 calendar year, 30 June when the SP was 121p and therefore qualifying.

Might be wrong, but my reading is that condition (3) would be met if the cap was more than $700m on 30 June 2022 (not at the end of this Quarter)

before end of Q3 is the intention

Averaging down is fine but never load more onto one share than you can afford to leave there.

I guess the drill time will depend whether they are still using the smaller exploration drill bit or the 6" appraisal bore to remove twice as much material

Wow, you missed out on a lot more later in the day!

really? It will be a lot higher later in the day

"As long as they raise at a hefty premium to today’s price, they can sell as much as they wan, as far as I’m concerned."

If the SP rises 30%, and it could be more, then they would be issuing a lot fewer shares for that $750m cap (if it is a cap)

Yes, ARB chose the quickest and simplest route. The timeline is more important. Ideally, they will want to be available to the big US fund buyers before BTC hits its peak price and when crypto investment optimism is highest

OK, that's interesting if it is indeed a maximum. That would be a relatively small raise in context of the market and therefore a positive for the SP

No Eddie, this is the ADS route for depository shares in foreign companies. It's pretty straight forward but a different process to primary listing. The draft Form 1 was submitted last month and has already been checked and resolved with SEC before publication. The intention was to launch before end of Quarter 3 and that seems to be on track.

there will be more

It wasn't a 'leak', it was published on the SEC regulatory website but I think it was lunchtime (after close of London trading) so the RNS is expected

For future reference the company SEC filings page is here
https://sec.report/otc/company/ARBKF

yeah, good old JPM… warn your customers off buying Bitcoin, spread fear, buy up BTC on the dip, sell derivative retail instruments in BTC… short ARB shares while signing up as depository custodian of their US shares! :-)

Early growth company, foreign company, depositary shares, not a problem

Yes, if that’s correct (a 12.5% dilution?) my initial reading would be positive, that they’ve gone for the minimal issue to achieve the market access point and hoping to be over subscribed. As with all the ‘smart growth’ decisions so far it leaves the BoD with more choices (utilise loan facility, sell BTC at peak price, phase more US shares to demand, etc). A growth company with large assets, high cash flow, and low debt, and shares in demand would be in a very fortunate position.

There is nothing unusual in these broad provisions for a US listed company. It’s just the way they do things there.

All looks good from a quick scan through