Member Info for CaneToad

I expect Whales are trying to shake out more small punters to give the next rise more steam.

Now playing out in BTC.
Expecting bulls to arrive if the drop is significant.

@Snoozinghippo: They have zero debt (Refinitive/Stockopedia). The real numbers are:

Gross Gearing: 3.9%
Net Gearing: -54.94%

Furthermore, Revenue, Operating Profit and Net Profit are all increasing exponentially... and the current cash on hand is £276m.

In summary: the balance sheet is ROCK solid.

It's (hopefully) going to happen soon.

Very bullish about BTC. Indeed, I've added to my ARB and Hut 8 positions today.

Devil's advocate: the last 7 days looks like a rising wedge - make of that statement what you will... exciting to see what happens tomorrow!

The ARB board had too many men. That drives away some institutional investors which is a bad thing. I am 100% behind his new appointments. Good move by PW.

re: Sarah Gow's CV, it is 100% correct to say that she spent 11 years at 'Citigroup', which includes hundreds of subsidiaries and companies that were ultimately bought out by Citi/Travelers, including those she mentioned.

It's a great first step, but note that it's NOT a fund that invests directly in bitcoin. It invests in futures contracts.

@Snip: My point here (maybe taken the wrong way, because of my fuddled response) is that $4m is not a lot of money for a mining asset. It's piddling. As you rightly said, $4m is great to have though. No complaints about free money.

What we need is some news about the funding situation with the ExIm Bank or the EU or some other news about the site. It seems to have gone dead.

Thanks for the useful response.

@IanH1: "accumulation at <£1.40"

I'm a greedy git like the rest on this channel. I'd also like it to move quicker, but shares don't move like that...

We need *patience* (i.e. longer than 1 day).

Not every uptick/downtick in BTC will be instantly reflected in the ARB price, just like the Brent Crude price hasn't yet been reflected in the price of Shell or BP...

"Even so when it hits 100k - what then. Bigger borrowing against?"

The board has some smart people on it and I'm sure that they're thinking of the strategy.

Personally, I would say, sell *some* of it to keep the old-world accountants happy, but that's just my view.

@NickTN: "More impressive for margins would have been selling BTC at 60K USD on the companies behalf and buying back in at 28K USD."

Hindsight is a beautiful thing.

He's going to look like a genius if BTC quickly rises above 60K. Maybe he knows more about BTC than we do?

It's all going to depend on the future expectations for BTC.

My own view is that BTC will easily reach $100k this year.

By using forward projections (aka wild guesses) for BTC, you can arrive at a DCF valuation of ARB, but I personally think that it's guesswork and charlatanism. Ultimately - the price is what people are prepared to pay for it and I'm happy buying/holding!

That's just my view and I'm OK that it's different to yours!

Herd of 'whale-sized bulls' expected in the coming days.

The decline is fairly normal for a pre-production miner, e.g. PRE, JAY and others are similar.

Definitely not negative. Very positive. I confess that I did not know about this asset.

I'm not sure how much money was spent on exporation for that asset, so can't comment any further. It just doesn't seem like a huge amount of money for an asset like that.

Overall, I'm very positive here. The main assets are just incredible. BUT, we need some progress on the financing for those to get any significant share price movement.

These finds are making an incredible difference to the debt situation. It is likely to turn-around even faster than the most optimistic forecasts.

It does indeed 'appear' to be a bounce, at least technically on 19'th Jul. For what it's worth, it's the first time that RSi was sub-30 since March 2020 on the daily chart. It's as though somebody was taking it down until sub-30 RSI on 19 July, but let's not get too paranoid...

"With ~US$29m of undrawn borrowings, ~US$39m residual position in LIORC and ~US$8.0m of treasury shares, the Group has financing flexibility of ~US$76m to finance further growth opportunities"

Perhaps they're also be selling some of the treasury shares? Continuing selling pressure here.

I guess it was too much for Barclays investors to be exuberant...

Good to see 'some' money going into the till, but unless I'm misreading the RNS, it's not a tremendous amount of money.

Looks very solid to me.
Hope the market sees the value here today and coming months.