Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
When I look at Argo’s share prices compared to different times over the past 12 months I just chuckle to myself as we sit here near 80. Example being January 2021, where Bitcoin’s price is nearly the same level as now and Argo’s shareprice was crossing 200. What did we have back then? Less bitcoin, a Texas announcement, and less shares of-course. Now we have doubled our bitcoin Hodl, Texas is almost complete, Pluto worth 10x, Argo Labs, no chinese competition and lastly Increased bitcoin adoption. The interesting difference between now and then. Then: institutional investors sold out while the price rose. Now: Institutional investors are buying in while the price drops. I suppose we will now have to wait for bitcoin to make a big move. Now that Blackrock is going in to crypto I can guarantee that they were responsible for the latest drop. I think this drop was orchestrated by the institutions coming in late in the game. Clearing out leveraged investors and merely getting their bitcoin HODL for free. The only thing that worries me is how are the hedgies and institutions going to get the HODL stash accumulated by the miners. I hope the blackrock boys dont drive miners to bankruptcy. This kind of activity will only shy folks away from bitcoin completely, but thats what hedgies do, destroy companies to make a profit.
Thanks for the update. I am curious how this transaction will be handled. Will Argo receive shares that can be sold on the open market or will they be partial owner of NFT. How does this correlate to Argo Labs? Will there be overlaps and conflicts of interest when a service is competitive? How liquid is this transaction? We need some clarification from PW once the transaction is complete. At least we may be seeing some income other than Bitcoin soon. I like these diversification efforts and low cost power initiatives. Though everyone was expecting Argo to be like some of the other miners it appears their lessons learned may be paying off.
Folks, what are Argos options now that Pluto will be listed on an exchange? Will they have 25% of the shares, didnt they have warrants? Now that they started Argo Labs, what will the purpose be to continue to hold Pluto /NFT? What was our initial investment compared to Pluto’s NFT merger?
Lots of questions for Pete to follow up on.
uhhhh, wasnt this the reason we bought a 25% stake in Pluto. Will we be competing against our own investment? Though I am a current shareholder and i dont want to come across as my filtered friends on this site but I thought that 10% of Hodl would be better served purchasing mining rigs to get the Helios building at full capacity.
Apparently the institutions agree with the info you provided as they continue to accumulate. They can wait and manipulate while Joe Blow investors liquidate. As soon as bitcoin topples 100k the institutions will have their fill of shares and begin rising the price with significant good nes.
Blubay I agree! I stayed on the low side so the trols could not argue the amount but in reality if Helios is going 30% in June and full capacity by August Argo may accumulate up to 6000+ bitcoin in reserves by December. We will have to see the impact of additional miners coming online this year and if the chinese move to ker****holestan.
Flower, At best I believe Argo would merely borrow against the HODL. If in fact bitcoin rises to the 80’s and the HODL is nearing 5,000 it shouldnt be a problem to borrow 100 million for additional machines.
Lots of folks think Argo should compete with MARA, and I think Pete is moving at a sustainable rate of speed with growth and next to nothing with debt.
I wish I had a crystal ball to let me know how low the share price is. Soon Argo could just liquidate its HODL and buy back 75% of the company.
Personally, I think there are alot of crazy shaningans going on with the share price and Pete announcing a share buy back with a portion a percenatge of bitcoin would bring a huge catalyst to the stock price.
Current Est. Bitcoin HODL = 2690
Current Valuation = 2690 x $43,000 = $116 million
December 2022 Valuation est.
Estimated HODL = 5,000 Bitcoin “ on the low side”
Bitcoin @ 40,000 = 200 mil
Bitcoin @ 60,000 = 300 mil
Bitcoin @ 80,000 = 400 mil
Bitcoin @ 100,000 = 500 mil
Its easy to see why institutions are accumulating . Who knows what Argo’s value will be in 2 or 3 years.
Mike, thanks for the update! Hope you and your wife had a great Holiday. I noticed the three people who reponded to you I have on ignore and pretty sure they had something negative to say, and sorry flr that. We all know their agenda by now.
As an asset? I would assume a facility with 800 mw capacity would bring a premium right now especially with the pre-negotiated power rate. I think easily the value of the site would be 500 million.
Good article, but it seems funny when mentioning emersion cooling,Riot is the primary company mentioned at the whinestone facility. Otherwise good article. It seems capacity and efficiency is going to be the primary drivers in the future. I would love to see RIOT and Argo merge. This would make good since to me.
Great post and good entry point. Thanks for posting the price of Argo at the other times Argo was at 47 and 43. If I may add we now have Texas essentially payed off and a significant amount of bitcoin Hodl.
Its kinda laughable, soon Peter can merely sell the Hodl and buy off half the shares back.
Must be nice for the big boys to drive down the price and scoop-the shares up so cheap.
Hey man alot of us feel your pain. Here is whats going to happen.
As you may have noticed a few hundred thousand to low millions of shares of Argo are accumulated each week by the institutions as reported by Mike on a weekly basis, “Fact”
Retail shareholders are dumping and institutions are buying from a point where retail previously held 90+ % and now they are down to 38% and correspondingly institutions currently own 60%. “Fact”.
Now, in regards to your investment there will need to be Three primary drivers to move the stock.
1. Institutional investors have accumulated there fill of Argo
2. Bitcoin will need to break 80k
3. Pluto or Argo announce big news.
Your going to read alot of guesses, crap, folks with agendas and boiler room folks working for hedgies while Argo is accumulated.
Right now Argo is on a puppet string and your going to need to wait and see, but I honestly think that bitcoin is going to blast through 120k next year, Pluto will announce something positive and Argo Labs are going to make the stock blast off. Just filter the folks who carry an agenda and just relax. Remember you only lose money when you sell at a loss.
Just took a look on my own and saw this article from Yahoo
https://finance.yahoo.com/news/know-argo-blockchain-plcs-lon-062817823.html
It appears 58% institutions and 38% retail
“pretty simple stuff dude”
Yep thats what I have been harping on the whole time. Folks here complaining about the share price and dumping while the institutions are accumulating. Whats not so simple is when are they going to allow the share price to run.
Mike thanks for the update, Would you happen to have a report on How many share retail holds compare to institutions? I believe there is a site out there that show around 50%retail and 50% institutions and the retail folks continue to sell out.
As I watch the bitcoin whales clean out the leveraged bitcoin holders and the resulting drop in miner share price I cant help but think of what a beautiful orchestrated event. I am very eager to see Mike’s report on institutional purchases as retail investors give away there shares. Unlike some, I have time, lots of time to wait like the institutions do. I have seen lots of boiler room and former disgruntled shareholder talk trash about Argo, yet I challenge these guys to explain the constant increase in institutional investments in Argo. What a perfect storm. The word thought bitcoin was going to breach 80k and then boom a drop to the 40’s. These leveraged folks are all over the world getting hammered. However, on the btightside, just take a peak at the yearly chart of bitcoin and the trend becomes obvious. Bitcoin is rising, Argo’s Hodl is increasing. Just be patient and buy these dips.