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Why would a genius work at QBT ?
Lots of reasons including :
1. As a small company, share options give a very direct share of the value uplift if QBT does well.
2. If a part time job at QBT, a cryptography academic researcher will enjoy more autonomy than at a large company.
3. Reputation management. Say you've come out of GCHQ and are known for your cyber security expertise. You could work at QBT 'invisibly' so not endangering your cyber security career. Have a look at Arqit Quantum to see how GCHQ people can reap the rewards. Arqit was a 'small' company prior to its IPO on Nasdaq last year.
4. May just know FG through academia and enjoy working with him.
Pedrobull,
With all respect you don't understand what QBT are trying to do.
Argo have bought a car for racing and have got their mechanics to fine tune the engine, oil it, and make sure the chassis is as aerodynamic as possible.
Anyone can try this. You can. Maybe Argo can do this at least as well as anyone.
QBT are currently mapping the race track. Where the turns are. Any inclines. Rain water on the track. They then use ML and AI to work out where to be on the track. Inside lane ? Outside lane on the track ? Fast on the straight but taking the corners slower ? Or maybe medium on the straight and taking the turns faster ?
A different approach. Will it work ? We should have some idea over the next few months. If it does, QBT will multi bag.
The quantum work is very interesting but really only theoretical at the moment, as FG points out quantum computers are not sufficiently advanced yet.
All IMHO.
I personally can't see a games company buying BIDS. It needs to be independent. If say EA bought it, what would Ubisoft think. Would Ubisoft or any other gaming company want to partner with BIDS.
An ad agency is possible but even then there are conflicts of interest. If say Alpha Agency has Coke as it's biggest client and then bought BIDS, would Pepsi want to go through BIDS through it's own ad agency. Would Coke be given priority through BIDS ads. Not sure. Maybe. Could be an issue.
My guess though would be Google. BIDS is the tech that connects gamers' 'eyeballs' to brands. Just like Google connects searchers' 'eyeballs' to brands. Or maybe Amazon now it has a search side.
If people are wondering about the sluggish share price, it's not the company. It's just supply and demand. At the moment PIs are just trading the shares between each other. Hence why it goes up 20% then comes down 20%.
It will be late this year before institutions are able to buy the shares. I know Herald are shareholders but it is about 1/1000 of their portfolio. My guess is Herald are using their current holding as a sort of tracer - it will help them keep an eye on the company for when they feel comfortable putting in larger amounts. Canaccord are HNWI managers so not really holding as an institutional fund I think.
IMHO it will only be at the end of the year, when hopefully Bids releases 2022 turnover - really H2 as 2022 is second half weighted - and insitutions can then start investing with some confidence. Yes they might have to pay more than the current price but they are happy to do that if the revenue story starts proving itself.
I'm a shareholder so no deramping. Just patience required and I think we will all do very well. Probably 2023 is when it 10 bags. Just IMHO.
Yes, looking good. Following the C$1.15 close.
Can 't help but wonder if Canada is starting to be in the know.
My best guess for official IP30 figures is this time next week. Well maybe in the afternoon when both Toronto and London markets are open.
Do you think we'll hear flow rates next week ?
The 19 April RNS said the 3 wells had been drilled and were due to begin completion. So maybe a few days to complete.
If they started testing just say on the 23rd, IP30 rates would not be due for a couple of weeks.
Or will they give initial flow rates for first 24 hours or 14 days or something ?
Thanks viable.
All makes sense. I like your x5. Still only a roughly £200m cap.
I'm thinking if Southern can do 10,000 boed at Henry Hub of $6 a mcf then they should be generating over $100m annualised cash flow. At only 2.5 times cash flow that would give x5 return. Maybe at 10,000 boed this time next year if the well strategy proves itself.
My mistake. I meant 1.5 tcf.
Can anyone let me know ?
Is the theme here that Southern's gas fields have produced about 15% of gas in place. They reckon with modern horizontal wells they can produce another 15%.
If so that looks like about 1.5b c.f. or 250mboe.
Massive for a £40m cap company.
Am I looking at this right?
Thanks.
And me B7. I have 70,000 reasons to thank Jimmy.
Hoping for several times that again.
Thought for the weekend. What if the deep prospects prove good. We could be looking at 7Tcf all in. That could be 1bcf a day production for 20 years giving cash flow of $2-3bn a year.
Only dreaming at this stage but maybe Chariot could become more than just a unicorn.
This is better than expected. On 30 March they announced a change in conversion price from 15p to 5p. Today they state only the maturity date is extended. That 's a good sign of commitment and optimism by bondholders. Also the bond meeting was set for 21 April. Suggests news between now and 21 April which would make the lower conversion price look too much of a gift maybe.
All speculation. DYOR as ever.
Just for some background in case anyone interested - trademarks only work in the same area. So if Adidas have a pair of shoes called UltraBoost, I couldn't launch a pair of golf shoes with the same name. The idea being someone might get confused between the two.
But I could launch something totally different, e.g. a microscope called UltraBoost.
So Adidas couldn't stop a bitcoin related product called UltraBoost, although a good lawyer might argue they could if they had launched a NFT based on their UltraBoost shoe.
Apparently over 60% of bitcoin mining is now done using the ASIC Boost ( not QBT's) patent of 2015. This patent speeds up mining by about 20%. QBT's ASIC Ultra Boost patent ( already filed) and their Ultra Ultra Boost patent ( being filed any day now) if taken up at the same rate, would result in approximately $ 7.2bn of miner revenue every year.
What royalty would the miners pay QBT ? 20% 25% of $7.2 bn. We can only guess. Let's hope QBT's 2 patents can speed up mining by at least ASIC Boost's 20%. QBT have alluded to higher speed increases than that.
As ever DYOR. We're still waiting for data so AIMHO.
Wow FigTreeHarry that's quite a question. The newest Bitmain miner coming out early next year is supposed to cost $20,000.
The thing is, if QBT have worked out how to make the bitcoin algorithm an optimisation problem - and so ideally suited to quantum computing - then we could be looking at an entirely new level of miner speed. Even hundreds or thousands of times quicker than the faster classical miners.
What would a mining company pay for that ? If it was 50 times faster they might pay $1m on the basis they would earn on average 50 times as many bitcoin a year from that one machine.
But another really interested thing is at least one quantum computer company is claiming that the world's fastest classical supercomputer uses as much electrical energy as the Niagara Falls can produce. In contrast their quantum computer can be run off a wall socket.
If QBT can link into D-Wave or another's quantum cloud service then the energy use could be much much lower as well as the mining rate much much higher.
We start to get crazy figures if QBT really have created a quantum optimisation algo for bitcoin.
Anything over 25% faster would be compelling but Prof G has been alluding to much higher results. Maybe there's a formula. Every 10% improvement is worth £50m of market cap increase in the basis of $12bn of miner revenue per year. Even capturing only a tiny percentage of that through direct mining or chip design licensing would be that kind of market cap result.
FigTree, yep you've worked this out already. Prof Gardin is expecting a serious increase in speed. With 2 verifiers it's difficult for the market to do anything other than just accept the results and adjust the market cap accordingly. We're in a weird position of the market cap increasing many times within a day of two of speed results if they are as good as alluded to.
As ever all IMHO.
I like the fact that, as in the 11 March RNS, QBT are using two independent verifiers to look at the new ASIC chips speed. If the speed improvement over existing ASIC chips was marginal then there would be no need to mention this. I think they are expecting very material improvements as alluded to in recent interviews. Putting the independence of the verifiers and having two of them out there is a good way of setting the ground for the kind of results we could hear in a couple of weeks.
As ever DYOR.
That’s disgusting Professional. Suggesting investors are raming. Look it up. Truly obscene.
They won’t. That’s the whole point. It might go like this:
Buy shares at current price. Market cap of £2.8m. Adv find a project costing £30m producing £15m cash flow p.a. Shares suspended. Raise of £10m at 1p a share. Raise £20m of debt. So new market cap £20m. Shares double to 2p. Market cap £40m. Less than 3 times cash flow. Market looks forward to next deal.
Only question is will they do a deal. They sound confident in latest RNS.