Member Info for HarChris

Bet you wish you didn't either.

I wouldn't even class it as competition, if the world is going to need 100000mtV or more even of vanadium annually by the late 2020s then it's obviously not going to come from Bushveld besides a small percentage.

I first read about this project in 2020 which shows just how long takes to reach production.

That’s $50m-$55m extra cash / profit as the 1020mtV of inventory finds a home in the US over the next twelve months or so.

Yeah it's positive symbolism but it goes to show that bitcoin mined is merely one factor to analyse that tells you very little in isolation. To me Hut8 deserves a premium for the simple fact of being guaranteed to make it to the next bull run, whether that occurs in 2023, 2024 or even 2025 but it obviously doesn't deserve to be viewed as a growth stock (although I imagine it will pump just like every other miner if bitcoin soars).

I'm back looking into miners to buy and for me my focus is always finding those with high net current assets as it means there is no funding risk for at least the next 12 months - in what is an ever worsening market to raise funds in this should be a priority I think.

Hut8’s numbers are terrible but they’re basically a Bitcoin holding company at the moment with 9250BTC and they have a separate non mining income stream.

The comparison doesn’t tell us much.

Great reply, thanks!

Great to see, so their AU$26m = £15m electrolyte plant will be a 175MWh producing facility with the capability to double that to 350MWh, what does that makes our facility worth at 200MWh that can be quadrupled to 800MWh?

By start of a renaissance do you really just mean brought down costs low enough to survive at least another year of this bear market and hence will have a shot at recovering somewhat during another bull run? As it's pretty difficult to argue the case for growth when, since August, hash rate has not moved an inch, 7300 brand new machines totalling 0.73EH/s have been sold and Helios has also been flogged. Not only that but all Argo's machines are now collaterized against the new loan with Galaxy...

I'm obviously talking myself out of an investment here, think i'll focus my attention on some of the other miners for now!

I do get the impression with Harl that there's only brief periods in which they feel they have a window to buy shares and so all of it comes in a flurry - let's hope we're therefore only a few weeks away from more news.

Thanks for the responses. I guess from where I stand prior to the 'transformational strategic transaction with Galaxy' in late December we can assume cash was very close to zero and of course selling Helios and taking on the new loan with Galaxy gave Argo cash runway (as well as reducing total debt) but are we not currently in a situation where it's a race against time again for BTC to rally before cash dwindles back down to zero, except this time without their flagship asset?

I get that the cash burn should be considerably reduced due to BTC outpacing difficulty since the end of 2022, slightly improved efficiency (going by today's rns) as well as the drop in energy cost but with no option to take on further debt in the coming months management will have to move early on a placing if it looks like running out of funds is a very real possibility.

It all rests on those financials being healthy but if they aren't it isn't going to be easy for Argo to go back and raise signifiant funds with nothing but 2.5EH/s of aging machines.

Genuine question by the way, not an Aldebaran grim reaper deramp. To those keeping close tabs on the financials (Hexam, AB?) what's the current cash position likely to be? How badly are Argo needing Bitcoin back above the $30k mark?

Still US $44.75/kgV, China $45/kgV, Europe $40.95/kgV - dollar back up at 18.3Zar

FastMarkets updates suggest we will see another push north later this week.

How likely is there to be a placing in the offing?

It's what's holding me back from having a dabble here at the moment... positive update though that's for sure.

Exactly, there will be instances where something material has occurred but the company have yet to rns it for whatever reason (maybe more of the details need ironing out or financing is a day or two away from closing) but other than that companies are only ever in closed periods in the run up to releasing results.

Would be good if Arun staggered his buys throughout the week like John did.

'and down it comes ...as per'

If that's how you describe an 11% rise then fair enough.

12 million shares traded means some of those itching to exit and invest elsewhere got their chance today - the more high volume days like this before the Q1 update (where the cash generation will be there for all to see) the better.

As per? I can't remember the last time we saw a 15% daily rise.

There is no date specified, in essence RBC are stating that at an average group realised price of $40/kg (all else being equal) then they would expect the share price to rerate to 18p - obviously it won't happen overnight or might not happen at all but that's what they value BMN.

The note was made in September 2022 with group realised price below $40/kg, now it's well above.

Reminder of this from the last broker note:

'Upside scenario:
Our upside scenario of 18p is based on a group realised price
of $40/kgV. All other assumptions are left unchanged.'

Current group realised price is somewhere between $43.25/kgV and $43.75/kgV with considerably weaker rand (hence lower costs) too.

It’s the realisation that in the toughest market to raise funding in, in a very long time, BMN is making more than enough money to be self sufficient - alongside the ever improving vanadium price dynamics.