Member Info for EyeGuy

I noticed that when I posted. Point stands about buying shares in crypto is a good way to get exposure without actually buying a bitcoin. :-)

Can someone ask for some figures of what they are doing now and forward guidance please

It sounds as though production capability is doubling:

due to earlier than expected delivery of new mining gear, Argo is currently mining on 1,000 Z11 and 1,025 S17 Bitmain servers from its Quebec facilities, being a month ahead of the Company's original schedule.

additional machines have been ordered since our last announcement on May 13th, at a cost of £2.85m which will be in production in Q2 and Q3 2019.

The Company is pleased to announce that an additional 783 S17 mining rigs have been purchased for a total consideration of US$1.5m

So we thinking $2000 for an s17 mining rig. Currently mining on circa 2000 servers.
So spending another circa $4 mill is circa doubling this capacity.

So double the capacity and BTC up 30% since last trading statement

Well this is the only way to get into crypto’s on aim so expect a lot of interest.
Next trading statement should be very interesting. Since this one, BTC is up 30% and then the £2.85 million of equipment will come on stream.

“As a result of the above factors, the Company expects to generate approximately £685,000 of crypto assets in May, based on a Bitcoin (BTC) price of $8,575 USD as of 31 May. This is approximately 37% better than the Company's previous guidance provided in the shareholder circular of 18 April. The Company's cash operating costs in May were in line with its forecast at £280,000.”

Lol. I haven’t. Tell me please.
Certainly the BTC commentary is suggesting Facebook Libra is driving this forward with commentators suggesting $30 k by year end.
https://www.google.co.uk/amp/s/www.fxstreet.com/amp/cryptocurrencies/news/bitcoin-heading-for-30-000-by-end-of-2019-vc-chief-predicts-201905300827
And if like me you want a bit of crypto exposure then this is the one way on aim to buy something which should track it.
The other positive is that the cash position here is a excellent with the investment in new mining gear not money spunked to money heaven.
Will be good to get some feedback from the agm. Got a slice target set for 12p ish and will let the rest ride

BTC back over $11k now. Lovely.
If this continues gross profit could well be going towards £800k or so per month which is £10 million per year by end of this calendar year.
This imo should be nearer 20p that 8p now.
Brilliant having this as crypto exposure. They are making a packet from this

looks like BTC will have a crack at $11k again

lets see hat happens at the AGM. Im confident because doing the maths, they will be making a lot of money and used the cash to develop the assets during the BTC downturn, to benefit on the upturn.
brilliant

10917 dollars. Almost $11k

Folks paying over 8p now Trek. Revenues and therefore profit should be befitting of a much higher mcap company.
Particularly as BTC keeps marching on and the cash position is excellent.
Don’t see a downside here as long as BTC holds

Agree. At this BTC price Argo are printing money

My colleague showed me your post and had a good chuckle.
This is my last post to you. You are still filtered so I have no intention of replying any more.

You state that oyster shareholders got screwed. Yes they did but it’s to GUN’s benefit.
You’re lack of understanding of disapplication of pre-emption rights is startling, and actually imo you have discredited yourself.
To state again. Gunsynd - As has been stated on oysters news feed used this law to protect their holding in oyster.
This in turn put pressure on Oyster share price to the point where the market cap was lower than the debt.
Gunsynd and Northbay then claimed the assets which is beneficial to gun and not for oyster.
All Gunsynd holders should be happy because they now has the assets. Oyster shareholders would be unhappy due to Gunsynd basically blocking the IPO- therefore putting negative pressure on the share price of oyster. Smart move by Hamish.
Keep bashing the shares. I don’t care.
Pointless arguing with you. Atb

yep. I don't like Align. Will be interesting to get an update to mining in June. Would expect the figures to be better than Mays at these prices.

Morning Dan. I think so. You are obviously more crypto savvy than me ;-)
But Mays figures showed mining 100 or so BTC.
For forward guidance if that continues then it’s over $1 million revenue per months.
But with new machines then I suspect that should increase further substantially.
All good here pal. Think we will see a sharp rise upwards towards 20p mark. Let’s see

8.2p now. How long until double digits now?

additional machines have been ordered since our last announcement on May 13th, at a cost of £2.85m which will be in production in Q2 and Q3 2019.



As a result of the above factors, the Company expects to generate approximately £685,000 of crypto assets in May, based on a Bitcoin (BTC) price of $8,575 USD as of 31 May. This is approximately 37% better than the Company's previous guidance provided in the shareholder circular of 18 April. The Company's cash operating costs in May were in line with its forecast at £280,000.



Notwithstanding any material change in trading conditions, Argo also expects its results for the second quarter of 2019 substantially to exceed its previous guidance.



The Company now anticipates generating the equivalent of 420 BTC of crypto assets on Argo's balance sheet by the end of Q2, which at $8,575 USD per BTC (being the BTC price as at 31 May 2019), amounts to approximately £2.85 million. This is approximately £1 million or 57% higher than the previously announced estimate of £1.81m, and reflects both a significant increase in cryptocurrency prices from 7 May 2019 and higher anticipated production levels by the Company's new and existing equipment.

Far too cheap here. I make it Argo have circa £13 mill of cash and £3 mill ish of BTC. The actual future earnings bit is £4 million.
Gross profit for May is £405k....
But since BTC fine up another 20% and then they have more mining capability (a lot more) coming on stream end this q and next q.
Those profits should also increase substantially. Should be nearer £60 mill mcap now imo.
Surely can’t stay this low.

Decent news

And again to be clear, I don’t hold a lot of shares here but I will add more when my Argo shares 4 bag. ;-)

Good post socialistB. Actually, one of my pals last night let me know about a funny comment on here from MUfCM.
He posted (he is still filtered) that “disapplying pre-emotion rights” was a reason why the oyster sp fell and the rns highlighted that it was Gunsynd who called it.
That is brilliant news.
So actually what happened was Gun used the “disapplying pre-emotion rights” law to stall or hinder the failed IPO of oyster on lse. The law is there to protect shareholders against dilution. Gun being a shareholder of oyster.
That caused Oysters sp to fall to the point where the debt was greater than the mcap. So it was insolvent and the debt was called.
So rather than Hamish screw over shareholders here, he protected the oyster asset and came out with 5x the holding.
Well done Hamish and well done my friend for highlighting this for me.
MUFCM posted it as a away of deramping but actually it is a bullish action.
So why would Hamish do this for a worthless asset.
Err. He wouldn’t. That’s why the deramping here is so desperate lol