Member Info for CaneToad

@MMA_Hemp: "I wonder if the billionaire backed fund hype will carry this higher in time?"

I was surprised how much that pushed the price up... but it bodes well for any big announcement regarding Dundas. Personally, I thought the Jeff Bezos, Bill Gates thing was a bit overdone. I'm primarily here for Dundas.

Now looking better technically (RSI dropped to a safer level). Possible we could see some buyers return. I'm rebuilding my position with an eye to the eventual funding announcement for Dundas.

FYI: I am not saying that it WILL drop to 16p - like you, I have no idea.

I am just saying that I do not average-down just because the price drops. That is lunacy. I'll add when the fundamentals improve. The warrant holders are bankers. They DO NOT CARE about the company. They WILL offload every last warrant. That is the fact.

Once the senior debt is agreed later this month, it might slow down the drop, which is a good first step, but then they'll have to actually do the hard work (i.e. develop a profitable mine). With some luck, copper will continue to rise which will make that easier - thank God.

@Monkey: there's nothing to support the price. It's been consistently falling for months on poor fundamentals. We have a large seller who is not finished yet. Sorry, only a lunatic would top-up while there's a large seller lurking that's guaranteed to offload all his warrants in the next few months. There'e nobody here to soak up those shares. Are you prepared to?

I'll add significantly once it stabilises , but I don't catch falling knives.

Quick gap up to 10%! Maybe it's going to disappear again, but nice to see!

New_Dawn: "LOL so you've got no sensible response as to why it's not overvalued."

If BTC drops to $5k, then ARB is overvalued. You need to ask yourself if that's going to happen?

I have some large positions in gold miners and I am WAY MORE concerned about those than I am about ARB. FYI: I have no frickin interest in arguments against/for BTC or Gold. I trade them all, both physically and the miners.

@Chuz: "I'm sure this time next year rodders we will all be millionaires."

I tell that to my wife most days...

@lsewatcher: "Currently, the most bullish analyst values Argo Blockchain at UK£2.50 per share, while the most bearish prices it at UK£2.40"

I'd be happy with that as a short-term target. Seems fair.

@Chuz: "I've lost money on every top up so far."

Man, I hope those losses are just on paper. I've fortunately never lost any real money on ARB, though have traded it lots of times. Granted, it requires some patience. Good luck with your position.

There is nothing to support a bounce until the funding is signed, but even then, I would not expect anything significant until production results improve later in the year/early next year.

In the meantime, the warrants sales could well push us down to barely above 14p. Personally, I have no plans to topup until I see production results and expect to do it around 16p.

FACTS.

@Chimpy87: I completely agree. Some of the responders do as much damage to the board as the people they're attacking.

FYI: I do not care if somebody wants to air an opinion that BTC or ARB are about to drop 50%. There is a small, but non-zero chance that it could happen. I happily ignore it. That's what trading/investing is about...

Results looke OK to me; they're no fantastic, but not terrible either. With DPO also near completion, with only one regulatory approval remaining, that also looks to be progressing nicely. Difficult to understand the short intertest here.

I'll be looking to add.

"When I couldn't control my emotions I handed over my money to those that could."

(ripped off of twitter/Michael Taylor/@shiftingshares)

It's because they were MASSIVELY overbought on technicals............except ARB and to a lesser extent RIOT.
It looks like a nice opportunity to start scaling into a new trade!
As for ARB, I'm 13% down now. That is NOTHING! That position could be blue after 1 good day. Nice!

Guys, all the miners are sinking... hopefully you realised that BTC miners are as volatile as fuc*.

A 7% move in a BTC miner is like Barclays moving 1.5%...

FYI HereKittyKitty is also known as the harbinger of doom...

Kyle17: "There are lots more risks to holding argo than bitcoin though. "

True. But they offer more upside too.

All miners, whether they be 'digging up' BTC, copper, gold or silver are like a call option on the underlying commodity. I suspect ARB will outperform BTC in the long-term. Like everybody else, I have no idea when that's going to be. Clearly some total bastards are attacking us at the moment.

@KittyCat:

Argo: -7.3%

Digihost: -7.2%
HIVE: -3.49%
MARA: -5.47%
Riot: -5.27%

ARB still looking the best. It's hopefully going to shake out some more paper hands. Looking forward to buying into the others once RSI drops a bit. Nice!

You don't need to be a genius to track an index... A machine can do that. No fund manager is needed to track an index..........