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Does this miss the point? Why did PW buy the data centres in the first place, surely at that time with foresight of rigs moving to Texas. What happens to that real estate now? There is something uncomfortable feeling about ARB deals. Nothing ever turns out as sweet as it was first envisaged. Machines dont get delivered. Mergers have access to debt that can't be used. Texas has access to 800MW. Well whhoopy do.... we're using a quarter. And every raise for Pluto costs ARB more than Pires.
Moving machines is temporary downtime... the forward looking rationale is reasonable. Theres just seems alot of suboptimal decisions in the mix. in my opinion. So come on PW... helios... on time on budget fully rigged and powered up. Texas is already full of nodding donkeys... it doesnt need another one.
IMO.
@modestus
Thanks. I'll get some research underway. I wasn't sure to be excited about picking up Bentley. True, it should lift R/P in future, but ultimately at what cost / margins. Cheers.
@modestus
have you an R/P ratio for ENQ to share, thanks
Appreciating your candid post Barney
@MPO818
Purely on the specifics of your query, I would suggest less likely than more. On the basis the contract(s) should specify a payment profile that would cover AFC upfront cash outflows. Various risk mgmt angles and imputed finance cost etc might come into the negotiation, but overall I would expect milestone payments with some front end loading to manage AFC working capital.
@monk
What are you aim with... ur in an almost unfathomable guessing game
@EmmaCM.... even if you were either v, you'd always be very weclome to ARB BB.
Thanks for insights (US and restaurant). Have the impression between regulators, IRS, SEC, FASB there is an ongoing identity crisis to address for miners. Given the tax friendly welcome, let's hope its not regulators that piddle on the parade.
Ur venue choice for lunch today?
@rubi
i doubt "they" will complain... it is at least up on the day
Or simply Argos?
@EmmaCM... welcome to Europe, London and ARB BB. I am nostalgic for an SF tram ride. Ride the tube before its shutdown or a bus before they're shut down. The capitals tranport system in need of some capital. If you find a great restaurant pick do share it. And a related question. Any thoughts on potential crypto legislation in the US. Miners being commodities traders and all that . I see its what ARB have essentially held themselves out as being with all BTC available for sale within 12 months (per annual report). A daft position to adopt IMO, lid off a can of worms needlesly, says he who would dare to challenge a man wearing hoodie and jacket.
Highly significant approval and RNS. Seen shares leap on lesser news. Would enjoy some propulsion on the SP, but the herd will eventually wake up and smell the coffee... I mean the ammonia. Well done to AFC.
@trelawny
what do you make of the inconsistency... blonity wants to mine from sweden coz. it's cold and PW is in texas where its hot and humid...
It wasnt exactly challenging. No mention of leaked info., reasons dpn debt wasn't an option, reasons to purchase data centres when texas underway... a fair amount glossed over
Relates to shares issued to Beowulf... (the coal miner that the Hardin community has relied on for jobs, make your mind up on that matter separately).... story could be of interest to ARB if SEC has a real axe to grind. Worth following. Thanks for posting link @lsewatcher
Time for a chorus of Jerusalem. Back in another 6 mths, maybe.
@gspanner
And there in lies a diff. in opinion. Argo is behind in machines and MW compared to usual peer group. As I commented earlier it joined LSE under capitalised. To scale-up close to peers will take more funding . Not only that but to retain a near 25pc oship of Pluto to maintain control then if Pluto needs more working cap or lists, that will require more cash. Argo SP is delinked from BTC due to it being under capitalised. That's of course a personal view. So for now, I'm waiting.
@TheeDuke
Nothing but me here. Haven't posted for 6 mths or so. You can screw lid back on drivel jar and maybe instead talk us through your views on Argo's capitalisation ?
@gspanner
Appreciate the replies. So, a follow up question. Had you been looking for an entry point, in your view would that be "today" or would you be "waiting"?
@gspanner
Can you describe your view on ARB valuation? And hypothetically (say) what your next move would be as an investor (not a trader).
@daibando
That'll explain the good run enjoyed by Royal Mail shares. Hong Kong buying up all the first class just before Xmas. See timing is everything :-)
@gspanner
The spanner in the works is that markets are not efficient. And shares that spike/bubble do not "always" eventually catchup. PI will rarely have all of the relevant information to identify a bubble vs a long term bull run. Will gold get back to $2,200 ? Why isn't it even close with inflation upswing. Does that make it cheap today? The point. If you had a proverbial crystal ball and knew the "timing "of every high and low you would make money. QED. As for the herd, what if they don't catch up. Sooner or later, you might ask... was i the one that got it wrong?
@the_chuz
As with every investment timing is critical... I think many will be waiting as you are. I want to believe in PW but every now and then I see a reminder he is human...and parts of the story either don't add up or unexpectedly shift. Which may simply mean he has been wrong footed by A N Other. For example the debt that came with DPN was of no use and I remain very curious of the data centre "purchase" when we are building Texas and the suggestion in video of rigs being moved to Texas. More than once spectacular deals lose their shine and I am left wondering how much due diligence there is before signing up. I am more intrigued these days how the supposed access to 600MW is deployed. At 800MW Argo is competitve. This is afterall a simple kick-chase to gobble up all the BTC before competitors do. So its a smash and grab for cheap leccy and chips. The only real risk should be the defensive play when BTC takes a dive. GL with your investment and timing of next. Keep us posted when ;-)