Member Info for Globex

Yeah 2.6x is made up. It's incredible not so much they're making these claims - this is aim after all - but that people believe it.

With any luck with mara and co we're not repeating August last year, yearly chart looking awfully double toppy. Having gained so much so quickly this year even if we can consolidate at this level for a bit that'll still be a win imo, baring the routine pullbacks.

True about anything goes if we get to the true mania phase. In many ways mining is a weird industry where the normal rulebook goes out the window. Corz came back from dead. For Argo there are some major banana skins on the horizon but for long term holders sake I do hope it defies the odds because it needn't have ended up in this position.

As a longer term play there's also that upcoming cliff edge slashing of revenue by 50% from April next year. All miners impacted but the difference is the US ones have been able to mitigate scaling up capacity, diligently buying up extra hardware. The elephant in the room is Argo can't do that, so they are left just treading water.

One new placing hits the register £3.60 = £1.927 billion market cap.

Or to put it another way a mere ~3,350% increase from here. Seems reasonable.

Takeover wouldn't be feasible either. Look at the enterprise value, any prospective buyer would also get lumbered with the debt. Much cheaper / easier to just buy the hardware, indeed that's what every north American miner is already doing.

It's worst of all worlds, will barely touch the sides, certainly won't enable buying significant hardware a growth story depends on. At the same time they leave on the table the ability to issue millions more shares, at any point in next 11.5 months, an overhang that will in itself lower demand for those shares.

Funny how even with all the board changes and PW gone the culture and lack of strategy remains the same.

Could I just say I called this timing, they did placing this month after all leaving them now free to disappear on their hols

Agree Chuz, they should have kitchen sinked it and blown through all the placing allocation they have available - which after the AGM is an absolute sh*load. I reckon it's more demand led though, my reckoning is after punting it around to larger shareholders they probably found there wasn't much appetite to support a bigger placing.

Unhooked I do like your philosophical take, about nature of control itself. Sometimes such questions are best left pondered, how not everything is black and white despite polarised debates posters have on here. I fear though your thoughts may be lost on an argumentative board about a pile em high flog em cheap rag trader.

Hosai's consistently made dreadful calls. Claimed Blackrock employee was pumping THG in Linkedin comments of all places, claimed Minto was responding to him in Times comment section, wouldn't allow even mild critical discussion of some of RevB board's actions without endlessly arguing against. No credibility, one to ignore.

Bohoo did say they wanted leadership with "the right retail, e-commerce and consumer brands experience", from that we can infer they didn't think Bob had those attributes. They were also clear they didn't approve of the share awards he appointed himself. More implicit is him going removes barrier to control.

Almost forgot some other Bob greatest hits like false threat risk of admin, endless broken promise FY22 RNS delays, and overly dramatic RNSs that got financial media talking about the company for all the wrong reasons. All in the past now but truly good riddance. All my opinion.

So many posters on here have been simping for Bob and defended him against even most mild critiques.

Right back from the time he blamed auditors, was whatsapping certain shareholders while rest in dark, even taking 1.8% of company for being employed for just 7 months, he could do no wrong for those posters. Does put them in an awkward position now. How can they carry on ramping without looking hypocritical?

Good to see Bob going, never rated him and well time for him to go out to pasture. Can already see impact of market approval. Much calmer rational RNS shows his absence already, those emotionally charged panicked releases he signed off can be a thing of the past and this can start acting like a proper plc now.

Agree pedro, talk of historic cash balances is just that - once cover gets pulled those will be eroded, new phase now

Times don't write about Boo all that often. More likely they have a source at Allianz Trade, they dropped similar news about AO and Asos cover being pulled both prior to them going on to raise. No getting away from the fact that it will result in more suppliers requiring payment upfront and therefore impacting cashflow.

Here's the article for anyone who missed it https://archive.is/rEYOt

The challenge here is strategy of taking on large amount of debt in a short period of time. It needn't have happened if they'd stuck to pure retailing model, but renting/kiosks is haemorrhaging cash.

Gross debt now £18.4m vs adjusted EBITDA of £2.8m, scary ratio. In 6 months net debt increased by £5.8m. For context a little over 18 months ago it was debt fee. It's a shame as I do like the company and bought from in past but sadly it will be very difficult for them to come back from this now. Management have been reckless.

It's crackers mate, I suppose every dog has it's day? Does feel a bit like miner roulette at the moment, seems less fundamentals more like a random winner every day.

Guys haven't you heard? Rumour has it Francesco has been able to bend the space-time continuum, 2.6 is just the start. Eventually it will be 2600x.

Apparently he was inspired at the leisure centre one day, in his armbands doing lengths he discovered a magic portal, at that moment Clear Leisure become Quantum Blockchain. He will have so many bitcoins they'll run out of room for them.