Member Info for buried_treasure

Another "move on" merchant.

Not a chance Gully01. I'm here for the inevitable denouement.

Course you are Johnnyy. Course you are.

Troactive talking complete c*ck yet again.

Winnifrith wrote about Technology Minerals on Thursday and again today.

So the "entire point" is buying a share in something with an intrinsic value of £5M... for £175M.

Enjoy poverty sucker.

"Bye!"

4kandles

Winnifrith trailed it in his Bearcast. He has a whistle-blower inside who also provided him with a video of the fire at the facility last year.

I suspect there is more to come.

I stand by that Jon.

Aside from its bitcoin holding, which it uses some but not all of the cash it raises to accumulate, it has no intrinsic value.

Any premium to NAV is illusory and, given time, will correct. You can undoubtedly make money trading it, but don't be left holding the bag when it inevitably collapses.

Your daily reminder that Hydraulicmech is an insider and will only spin the company line. Treat what they say with extreme caution.

Gully01 hasn't been back though, has he?

Which one are you Hydraulicmech? Webley or Smith?

And when you list on US OTC you bring shorters into the picture. I wonder what they will make of this little scheme?

Exactly this.

But the savants here will tell you that they have found a new alchemy where the price can keep rising and rising and rising all the time the company can keep issuing shares at the ever rising price and buying bitcoin with the proceeds, closing the currently chasmous gap between NAV and mcap. This seems to rely on the bigger fool theory of investing.

They think they're on to a winner.

I think they are nutjobs.

And an even higher proportion of total mugs.

Oh, hi Loggy! Seen SeagullsFan lately? It's halved since he was last here. And can halve again, etc., etc.

"Try thinking differently for a change."

Nah, you're alright thanks.

That Ben Graham strategy of only buying businesses with real value that the market undervalues and selling at fair value has done both me and Mr Buffett fairly well over the years.

Get rich quick schemes relying on the bigger fool like this p**s in the well I have to drink from, that is why I call them out.

Just don't be left holding the bag when it implodes. One day it will. It might be today.

You have just defined bigger fool investing.

As I've said all along, don't get left holding the bag when the bubble bursts.

I haven't ignored it at all! I've challenged it, and you still haven't told me how this company creates any value at all by issuing shares and buying electronic tulips.

But the bitcoin per share (NAV) is still way below the share price

= no value creation whatsoever.

In fact, value destruction.

= s**t investment, needing an ever bigger fool to keep the cycle going.

"That is the business model."

So run that business model by me again. If you raise a s**t ton of money, and use less than 100% of it to buy bitcoin because of broker fees, corporate overheads, other PLC costs (let alone using less than 50% of it ro buy bitcoin as at present), how does the company maintain shareholder value, let alone increase it over and above the sums raised?

If you can answer that in one paragraph, we can start debating it.

Heard it all before. Fool me once, etc.

"Dilution is reducing as the BTC treasury increases."

"Dilution" relates to the number of shares in issue over time.

The only way to "reduce dilution" is to buy back and cancel shares. That will limit the amount that is spent on BTC.

Your reminder that Hydraulicmech is an insider and will only spin the company line. Treat what they say with extreme caution.

MASSIVE dilution incoming, mark my words.

Issue *fees

And I'm trying to tell you that the bitcoin per share does NOT increase with time.

You get more bitcoin, but you issue proportionally more shares. Therefore your bitcoin per share falls. This is not a geared play on bitcoin, because of the issue gees and PLC costs it is an UNgeared play on bitcoin!

Otherwise you would be creating value out of thin air.

They don't "use the lot to buy bitcoin" though, do they?

The last raise was say £4M net, and they bought £1.85M bitcoin.