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I think this cycle won’t continue for too long and I wouldn’t be surprised to see some IPO’s taking place towards the end of 2021

probably due to the big buy this morning (4m shares). News expected from various fronts so expectations are high.
If sellers such as BMR are out of the way we could be in for a decent run.

My guess is that the real value will start once companies held in the portfolio start making plans for IPOs, this will likely boost the NAV of ANIC dramatically.
As far as I’m aware, only one company has made plans for listing so far in this sector (3D Meats) but other are sure to follow.

The keenly awaited peer review is finally published, lots of action on here tonight! Great posts!

Of course all depends on how the bitcoin story unfolds in the years ahead, wether it will be ongoing boom/bust cycles where miners will need to be nimble and be able to time these accordingly or will we see the global acceptance of bitcoin as a store of value and a much higher valuation as a result. If it is the latter I would much rather see ARB becoming a hybrid business with a focus not just on mining but also holding a bitcoin investment fund.

Depends on what type of debt deal. Currently we’re living in times of historic low interest rates, that doesn’t mean raising debt finance is easy, but if you can get a deal on good terms then it may prove a better strategy.
Remember that there are only 2.6 million Bitcoin left to be mined out of the finite 21 million, so in other words 88% of all BTC have already been mined. The remaining 2.6 million are becoming harder and harder to mine and future halvings will only decrease the reward. If mining companies such as ARB do not ‘hoard’ their BTC they will not see any uplift of future expected BTC gains, they will only just get by with a decent operating margin. If that is the case a better investment will be to hold Bitcoin directly rather than a miner with no sizeable portfolio of BTC.

Personally I would have preferred if ARB had a strategy of holding ALL coins that it mines. I know they sell to fund ongoing costs and expansion but a longterm debt deal would in my opinion provide better longterm returns.
In the year to 31 Dec 2019 ARB mined 1330 coins, if they had held all of these, the coins from just that financial year alone would today be worth $21.3m at current prices.

against RIOT, HUT, HIVE?
Probably RIOT and HUT are the most suitable peers to review against as HIVE is a Ethereum miner.

RIOT has a current market cap of approx £135m, while they do hold a fair amount of cash and crypto around £35m worth, lets say £100m is attributed to their valuation. So looking at recent quarterly RIOT mined 222 BTC in 3 months, thats 74 BTC PER MONTH average. Their hash rate is around 500 Ph/s and will rise to around 1200ph/s only in Q2/2021.

Currently ARB are beating them on both fronts, with a 130 BTC mining average per month and a higher hashrate of approx 650 Ph/s (rising to 1100 PH/s in Feb 21).
This leaves ARB looking substantially undervalued or RIOT substantially overvalued.

Even with a mass vaccination, which is not an easy task, it doesn’t mean it will solve everything. Just look at the Flu vaccination, which is freely available, yet 1000’s of people die every year from flu. This is because a vaccine is not 100% effective, for some people it’s less effective, studies have shown that a flu vaccine typically reduces flu hospitalisations for over 65’s by 25-50% depending on type of flu, but it shows that there will still be hospitalisations and these will need an effective treatment.

I wouldn’t be surprised to see some pre-orders/stockpiling of SNG001 ahead of and during phase III trials. The manufacturing scale-up plans are 100,000 per month from Jan21, so demand will far outstrip supply (in a global marketplace). It will be the ones who pre-order who will get the treatment as soon as it’s ready. Just look at the vaccine pre-orders, they were snapped up months ago by some pro-active governments before the phase III trials and now those without these pre-orders are still scrambling for supply.
One other thing, SNG001 is a treatment not a vaccine and will be bought for a specific sub-set of patients who are more likely to get seriously ill. The volumes will not be millions but nevertheless the rewards will still be very high in the analyst’s predicted volumes. Governments will have an obligation to stockpile this, almost like an insurance policy.

The following was reported on 14th Oct and assuming SNG have filed the IND on 15th/16th Oct I am predicting the trial will likely start next week. (FDA require 30 days after IND submission before a trial can start)

“The FDA has reviewed the SNG001 pre-IND materials including preclinical and Chemistry and Manufacturing Control (CMC) data, the results of the Phase II study in COVID-19 patients and the proposed Phase III protocol. The FDA has provided Synairgen with guidance on the Phase III clinical study to support the potential registration of SNG001 for the treatment of COVID-19. The Company plans to file an IND application as soon as possible to allow the Phase III study to be initiated. Synairgen will continue to work closely with the FDA as development continues”

Finncap has a target of 300p in research note published yesterday:
https://researchlibrary.finncap.com/File/View?file=cfcab5a3-4a92-4144-acf0-c44b9f3b8ef0

It does look like a good buying opportunity right now at 65p (same as the issue price). With the open offer offering only 1 for 14 shares held on the Record date 6th Nov

I think the main catalyst will be winning new contracts from UK Merchants. The partnership with WeChat and Alipay is already in place.

“Mode operates a payment processing, marketing and advertising business, for UK merchants aiming to access overseas markets such as China. The technology provides a payment gateway solution for UK merchants allowing them to accept payments from WeChat Pay and Alipay - the two largest payment platforms in the world. This supports Mode's vision of removing friction in the global payments market and enables UK merchants to engage with Chinese shoppers”

Decent enough, but raising the full year revenue guidance by 6% is nothing to write home about really. They also need to do something about the operating profit.

Seems like this upcoming JORC can be quite significant, with the relatively small global supply market for graphite, this is definitely one to watch.

ARB are increasing hashrate by 70% with this new lease order, now that’s a sign of confidence!
So in 3 months they will have 1075 Petahash (assuming the current capacity 645 PHash in Canada remains constant). With a bull run in BTC, this will produce solid returns. Market needs to wake up to this.

Thanks Dan, £25m+ does sound like a lot, more than the current market cap!
Think we need an accountant here to share views

Does anyone know exactly what this will entail? It’s not necessarily a share buyback program, they don’t have cash to throw around with planned purchase of datacentres. This is likely more of an accounting procedure to cancel its share premium.
I wonder what the amount is in the share premium account?

BTC is very close to breaking the $12k level, it could result in a charge towards $13k and beyond, once momentum builds who knows where it will end up.
As far as ARB is concerned it’s not only the price of BTC that’s important but the balance between price, hash-rate and mining difficulty. Both hash rate and difficulty has seen ATHs in recent weeks so that will make it harder to mine BTC, however this also means that less efficient miners will drop out.
If BTC goes on a big surge however the price will outweigh everything else and it will be good times for all.

Berkeley Energia Limited (ASX: BKY) requests an immediate voluntary trading halt to the Company’s securities pending an update on the Spanish regulatory regime.
The Company requests that the trading halt remain until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 20 October 2020.