I wrote: Question: Why if I have the possibility to cash in the near future 10,8m + 238k I sell all for only 50k? Probabily Answer: I know that I never will get 1 Euro so I cash 50k!!! It must be known that in Italy it is possible to wait years for a court settlement and then who wins has quite no possibility to be paid (the funds very often disappears or open an court appeal). It was better the reverse solution and stop the cost that are running.
Question: Why if I have the possibility to cash in the near future 10,8m + 238k I sell all for only 50k? Probabily Answer: I know that I never will get 1 Euro so I cash 50k!!! I find this situation very similar to the DC miner acquisition for 1 Euro from 64Bit. Question: Why they sold it? Probably answer: Because 64Bit know that now it is a wreck. I agree with jonnybbad: Company is a disgrace and should be shut down.
RE: RNS FG share £30k at price of .75p29 Aug 2019 11:13
From CL Annual Report 31 December 2018 pag 16: Francesco Gardin 2018 renumeration Euro 294.000 of which £ 30.000 was paid in shares. Pag.44 Employee emoluments Euro 131.000. Total 2018 staff costs Euro 470.000 !!!!! No data for this year. NO COMMENT
OK I agree if Argo have bought the new Bitmain S17 pro (now sold out and I guess CLP what will do with the obsolete DC just bought) this is a more efficient hardware than Bitfury (Hut8). My only doubt, knowing that this is not an easy job plug and play, is the Argo staff capacity for making operative while Hut8 is running from years.
Argo Mining is waiting for the Bitmain new miners but knowing his delivery time and the following time necesary for the setup (it is not a easy job) so the income is EXPECTED you can have a look, for example, at Hut 8 Mining Corp that from 2017 has already mined more than 10,000 BTC!!!!
64bit received the CLP shares for the 50% payment of the datacenter so was his right to sell them whenever he wants. The reasons for the huge collapse of the share price, in one year from 0,95 to 0,23 (and I see that the bloodbath goes on), surely are others.
For trasparency and if all is ok where is the problem for FG to show the payment receipts of the electricity bills? When seen all the rumuors will stop. No pathetic but in search of the truth (quite sure he can't).....
From balance sheet in 2018 with the Net Asset Value, based on FG's evaluation, of just €1.9 million CLP paid FG 294K€ (161K€ in 2017), 3 other people and legal 700K€ (126K€ in 2017) increased costs with the result to make 4.3M€ loss!!! In turns the rumors that are running in the crypto word are telling that were not paid the electricity bills of the mining unit in Serbia, so it was SWITCHED OFF!!! Furthermore the 2018 Report stated that by 20 September the data centre had mined 0,454 Bitcoins and 17 Litecoins but there is no trace of the wallet addresses where, for transparency, everyone can see these data and the mining progress after 20 September. Someone attending the Monday AGM could make these questions to FG?
Because I'm a cryptominer the announcements regarding mining cryptocurrencies sounds to me very strange.... Based on CLP RNS: “The data centre commenced operations in July 2018 and by 20 September 2018 had mined 0.454 Bitcoins and 17 Litecoins. Responding to the significant downturn in the price of Bitcoin towards the end of 2018, the Board elected, on March 2019, to place the data centre on “care and maintenance” until such time that the value of cryptocurrencies rose to a level sufficient to make the operation profitable” So from September 2018 to March 2019 more than 2 additional btc should have been mined, but nothing is said to this respect. Besidies, nothing is said about the operational costs and furthermore it's been for months that, expecially in Serbia with very low energy cost, the mining is profitable and the network BTC hashrate, because in the world all the miners are SWITCHED ON, recorded an history high https://cryptoslate.com/bitcoin-network-hashrate-sees-fastest-growth-in-history/ why the unit is now SWITCHED OFF?