Member Info for Globex

Tonight would be an excellent moment for Mara to deliver and turn sentiment around 🤞 (I'll also accept it just not dropping after hours)

Totally agree about super bullishness for btc, so much momentum has built up now. If we get past ~$36.5k, that sticky 50% Fibonacci retracement from ATH then as far as I'm concerned sky's the limit. Miners lagging is a wildcard and I'm glad for this therapy group on that front lol, I guess nothing is ever handed to us on a plate in this game.

Classic case of insiders front running forthcoming bad news that the wider market is as yet unaware of.

With a few hundred mill you'd think any problem could be fixed but funny part is they've also been talking about fixing that broken shed for what honestly feels like forever

These atms are getting pretty ridiculous. Riot diluting $100m last month alone and still no end in sight. No wonder prices are treading water, there's only so much market can absorb. If any miner came out out and committed by saying we won't dilute when btc is x thousand because then we'll be profitable enough they'd absolutely kill it.

If you don't see investment value in any miners it would seem logical for you to sell. While market bearish on miners quite a bit of conviction required, so no shame in exiting.

The more time that goes on the more apparent what a clanger this deal is. Following RTW it's strikingly illiquid, even fewer daily trades than this. If/when the buyout happens and people inevitably want to exit it's not going to be easy without cratering the price.

It has been quite some achievement since the offer announcement for the value of both funds to noticeably decrease. Normally in a takeover at least one party perceived as getting the better deal will get a boost, but here they've managed to significantly reduce value of both. Well done board.

NGR makes this board so hard to read. On here all day, arguing with absolutely everyone, never posts anything of value, consistently wrong about even basics. I get that there are probably issues there that go beyond Nanoco but if he did the honourable thing and disappeared the quality would improve dramatically.

That's not a new information, it's been down at these levels since at least September so market has had more than enough time to price it in even if you've only just noticed. And anyway given Glencore deal and forecast length of production the correlation between Nickel rate and SP has always been loose, take late 2020 for example when Nickel spot was similar.

Good spot, they're way up YTD too, in a rational market this would be more reflected in miner SPs. As the busier the network the better it is for us, the higher demand that comes with these bullish phases are an effective positive feedback loop.

Have mixed feelings about this. Ideal imo is a free market where people can trade in whichever direction they like, also shorts aid price discovery, root out frauds and boost the volatility that makes trading. On the other hand if this is the thing that would finally make Mara and co go up absolutely bring it on!

Tbf i've been mentioning cifr for months, nobody ever agreed with that bullishness at the time lol. They went out on a bit of a limb with those canaan rigs but they're now proving themselves. Do like the company slotted in as part of a miner portfolio, with caveat imo that it's such a new entrant at this scale still slightly unproven on a longer timeframe, as well as extremely volatile - then again for that part ultimately I reckon that's what we're all here for.

It does seem that even with funding requirement TBC the market cap had dropped to a bonkers low level, given the assets, being so close to completion and sheer investment taken to get it to this point. More than anything else market hates uncertainty so as soon as that's out the way with news it does look primed for a true re-rate.

I think we're all on same page here, to ditch these miners like a hot potato once btc gets irrationally exuberant enough, in meantime management missteps almost seems like a crypto cv requirement at this point.

Saving grace might be that last month they had 1k in form of "costless collars", so let's hope that overall hedge reduction signals this just being a weird phase. But would have liked to see overall hodl go up in a month with what should be greater overall security from any risks anyway with bond payback.

Hedging in this game is a total waste of time, they are never going to out trade the market. Holding only proven long term strategy. If they are running scared they have option to hold a bit more cash to protect against downside, but otherwise only play has to be juice the balance sheet and go balls to the wall.

Pull the other one, the front running price action leading up to that last RNS has been widely discussed

Does seem to be a momentum shift taking place here. We know the company has form for being a bit leaky so could potentially be early signal for positive news on horizon.

The original directors of ITS were definitely useless and made no effort to RTO, they were happy coasting doing nothing while in charge. There we had a solvent wind vote, that being rejected by shareholders enabled different team to approach who actively wanted to RTO. Fwiw it was trading throughout this time (apart from temporary suspension for voting).

Safestyle board equally useless so if you get opportunity no harm in voting against whatever they propose, but unless they have ringfenced funds in the plc practically speaking imo to phoenix it would need a cash injection.

The trading company of ITS was acquired (albeit for a small amount), which then left the plc cash shell which crucially was solvent, that enabled it to carry on paying for the various filing fees, even director salaries for a while, enough time for a different team to come along and propose RTO. Liquidation is a different kettle of fish.