Member Info for Globex

Good on this director for not just using opportunity to sell the shares without buying back, as chair sets good example to other non-execs - while they're a part of the board - to note and follow lead.

At this rate wildtiger's going to have to google things like Polkadot, LAYR or ASTRA, or even equity in Emergent Entertainment, to explain why holding those on the balance sheet in favour of btc this year was a good idea ;)

With btc at these levels they sadly now look like wallies dumping their entire holdings throughout year - and that's not me saying just with benefit of hindsight, said same thing at time when they carried on even in month they raised £5m and mysteriously seemed to opt for some sh.tcoins instead.

Good shout Batterseafish, will do likewise. If they were allowed to proceed they'd also become majority shareholders before the vote, enabling them to steamroller a yes vote through, which seems like a straightforward stitch up.

Meanwhile with any luck a significant enough shareholder on the register clock board's plan for what it is and speak up against it pretty sharpish. Market reaction speaks volumes.

Mara even making a token nod towards ESG by somehow running some machines off landfill (insert joke about Argo's balance sheet being the fuel), probably a bit boolax but after the offering shenanigans let's hope this is the starting example of them showing off their best behaviour 😜

Looking good indeed gents, these surges feel far more natural than the recent off period. Interestingly with btc broadly flat or up marginally since market close yesterday, more confirmation of that trend of us leaning towards mirroring the indexes more.

Good to see the real Jpow reverting to what he does best and appeasing wall st when things become a bit too droppy. Once jobless numbers finally increase and we see that covid style fed emerge with the turbo money printer we'll really be cooking on gas.

Chief Risk Officer at Cab Payments, you have to laugh at the precariousness of that position after the post IPO performance, and market slaying specifically for not fully disclosing risks before listing.

Wouldn't be at all surprised if board were offered sweeteners, doesn't quite add up otherwise. Despite poor offer do think Arix represents excellent value at this SP. Can't see this deal being approved by shareholders, not at least in its current form, and in meantime could well flush out other bidders as it's now or never for them.

With even S&P touching on correction territory surely time for Powell's inner dove to come out now, especially when US inflation isn't even that high any more

Yes if they want to wind it up nothing to stop them issuing a dividend equal to cash, then let RTW make their offer on the remainder. Otherwise giving away that cash is effectively the equivalent of blowing it all on a placing in another fund.

Right now RTW's entire market cap is $240m, so with this deal they about half their quoted value in cash alone, it's almost obscene how good a deal it is for them.

The way things are going if btc reaches $100k Mara might even break the dizzy heights of... $10? Definitely believe in clsk too, well positioned and already consistently outmining Riot counts for a lot.

Poor offer imo, it's just transferring shares from one highly discounted biotech fund to another, not unlocking any value. RTW's track record is highly unproven and they're trading close to an all time low.

Not all NAVs are equal, Arix's is far superior because of the huge cash component. This deal would simply gift RTW an absolute boatload of cash, no wonder they're keen to acquire. The mystery is why Arix board have rolled over so easily.

It's true Mara gets a fair bit of negative attention. Consistent bearish case made (apart from debt which we can now dismiss) is related to costs. I don't see them as a big deal because they're largely fixed (expansion aside but that applies to them all).

If/when bitcoin goes on a real run those fixed costs will continue to reduce proportionately. Halving applies to them all equally. Even Bernstein has this $150k btc target at which point all things being equal Mara's costs would be neglibable.

Meanwhile so much credit is given to Riot for its leccy deal but it lags Mara for output to such an extent it's actually a bit laughable.

Some bullish miner coverage from a biggish name (Bernstein) for a change https://www.coindesk.com/markets/2023/10/31/quality-bitcoin-mining-stocks-offer-a-good-way-to-gain-exposure-to-the-next-bull-run-bernstein/

But again very conservative targets given and not rating Mara (booo), but liking Riot and Clsk.

Tellingly and mistakenly they highlight Mara debt as sub-par, wrong as we know since outstanding bond reduced by $420m. You'd think all that dilution would at least be offset by recognition the debt is lower than it's been for years. Makes me wonder that if even a established analysts have potentially missed this, no wonder wider market is so slow to wake up.

Not long until Q3s then no excuses for them not to notice the improved balance sheet - assuming no more banana skins thrown our way by those zany Mara execs which to be fair is certainly possible.

It starts to look a bit desperate when they're RNSing a single building being let, reits don't normally do that, not least when the balance sheet is the primary concern.

They're painting a picture of it being something of a flagship, so might be interesting to extrapolate value from letting total and current yields. Few assumptions required but doing that could roughly ballpark value as say ~£22m. Assuming 50% equity owned we get £11m RGL could net by ditching it. When you look at the overall debt even selling this fully occupied flagship wouldn't really touch the sides.

There wasn't a great deal of debt relatively, despite everything. The RCF alone effectively caused the administration. Net debt at year end was forecasted as £6.5m, the maximum borrowing facility was £7.5m.

Once covenants on course to be breached bank pulled support, so the only viable solution would have been an injection of up to £7.5m to clear it, plus working capital to keep things on course until turnaround.

Also let's put to bed this Blackrock myth, with them being pretty much the largest tracker fund managers in the world they buy pretty much everything, by design. It doesn't mean the company you've invested in special. Even despite that I see no evidence that they have actually bought a stake in Argo.

Still laughing about him claiming to manage a £200bn fund. He was just another fantasist ramping albeit in a more sophisticated way than your typical low effort lse job. You liked the post because he said nice things about Audioboom.

It's gone into administration I'm afraid mate