Member Info for HarChris

We've asked that same question for over a year now... Nothing happened and as expected the Hosting Agreement ended without renewal and in response Chippas was forced to announce a new direction to HPC.

Right now though six weeks has passed since the £4.2m subscription and much of the proceeds will be being munched by the relocation of Helios machines and refurbishment. How much is then left to 'explore diversification into high-performance computing ("HPC")' is anyone's guess but logic says not very much, possible zero.

Soon Argo will be penniless again with a $40m debt remaining that needs repaying end of next year. If they can then sell these rigs for a few $m that will be what they have left to try to diversify into HPC - hardly a war chest.

It’s wrong but can hardly blame them for not putting ‘update website’ at the top of their to-do list right now.

Not hanging around are they?! So many moving parts all happening at once with the US - China war heating up in the background.

Feels like right time right place.

Very much so - slow and steady wins the race for ABDX right now.

Thanks LongInvestor, good info.

I know it’s important for management to hide how bad the situation is to perhaps pull off another fundraise but it is really awful how little they are sharing. There should be full transparency over the options for these machines, the cost to refurb, the timescales etc

Yet we’re given no info including lack of info on what it means for January’s mined numbers.

To a degree but if the committee decide THX owe nothing and have followed all the rules, the State go quiet and Thor progresses plans to extend mine life at Segilola that’ll be enough to ease investor concerns.

Don’t need a big public declaration of support from the federal government to bring investment back here but it’ll help certainly.

Mid October Christina announced that we wouldn’t be getting the data release til full readout in early-mid 2025. We also knew that Dx wasn’t likely to be sold immediately hence the sell off to below placing price.

Almost three months later and now all the news is stacking up, one on top of another. It looks like Dx sale is now imminent, CFO appointment must be any day, we’re due more detail on the expansion study, a phase 1 update this quarter and then the full phase 1 readout next quarter.

The share price has swung wildly over the past three years but this feels like the time to accumulate ready for the next major upswing

No that’s an illogical read of the situation. The agreement has ended so the rigs will now be offline. We are expected to understand that. If they were still online it would have read something like ‘despite the hosting agreement coming to an end Galaxy have allowed the machines to continue operating at Helios until a solution is found’

You’re right they haven’t been modified yet, that’s still a process to come that requires time and money

The reason it’s not being spelt out is because it’s not in the company’s interest to, it’ll crash the share price. Mgmt are likely trying to raise additional funding right now whilst the share price is still relatively high.

The end is nigh but the share price might hold up til the gravity of the situation is laid bare in next month’s update.

Yeah, it’s like there are no intelligent holders left and just gamblers refusing to cut their losses til they absolutely have to / MMs mark the price right down on a certain news event.

Having said that it is at least heading in the downwards direction.

Well we know Christina emphasised Avacta management working right through the Christmas holidays… they weren’t moonlighting as Santa and his helpers in Debenhams so we can assume that the extra hours needed were to get something big over the line asap .

That thing is almost certainly the Dx sale.

Since that news broke re Osun State the THX share price is down ~12% at a time the gold price really took off.

A similar company such as Serabi has, over the same period, risen ~70%.

Douta PFS, some sort of closure on Osun State claims & q4 release all in Jan and we might just see that gap close in one fell swoop.

I’ve spoken to Segun and admittedly he’s tight lipped on the Osun state situation but I get the impression that we don’t hear too much publicly but that the state will be slapped down privately and disappear into the distance, with rhetoric toned down in the future.

You’ll notice if you follow their twitter account that as of about one month ago they’ve ceased tweeting about Segilola.

The share price goes up when there’s concerted buying. It’s supply and demand, simple as that. Management are going to do that buying if the market doesn’t do it for them, then those shares can be wiped from the register so an even smaller float in the future.

I think simply announcing a buyback programme will do it but either way the share price will rise soon if the cash keeps coming in.

It’s partly because all the articles, largely AI generated, don’t pick up on the implications. Like this for example

https://www.stocktitan.net/news/ARBK/argo-blockchain-plc-announces-december-operational-gihh26uhf157.html

As I’ve said before, this share only tends to crumble when the bad news is there in black and white. That will be next month’s operational update announcing $1m revs.

Also a move on to the Nasdaq heavily signposted…

Being stuck on AIM/LSE is one of the main causes for the depressed valuation - a move stateside alongside ever greater operational progress is what will turn this around.

Entering a news rich period

If I was Chippas I’d be moving mountains to get another raise/subscription away - after all Argo still maintains a valuation of nearly £40m, somehow.

Once valuation drops to a penny there’ll be no more levers to save the company.

The excuse today doesn’t cut it. They’ve known about the hosting agreement ending for 2 months yet still Dec 28th comes and goes with no solution.

After being modified back they’ll be flogged for a couple of $m and that’ll be that.

Less than $1m revs per month going forward.

‘Whether we agree with the excessive Salarys. This was a debt of the company following Shishir and MLB not being paid for their services for 12+ months.’

__________

I think you’ll find Shishir received £300k in shares in January last year too. He’s rather excessively remunerated for failure.

If the tax loss deal goes through that’s the end of the cycle we’ve seen for a year or so now ie positive news - improved PR - placing. Funding will be done and dusted and there will be room for the share price to run freely if there’s good news stacked upon further good news.

It’ll be a different climate but we do need that tax loss deal over the line and tangible progress to see a rerate here.

Wasn't it you that was banging on about 50p being merely a return to IPO price?

There's going to be many multiples the number of shares in total once all the financing arrangements are complete vs the total number upon listing, so share price comparisons aren't very useful.

7.6m shares at 5p i.e £380k seems quite the inflated salary for Shishir given the circumstances.