Member Info for HarChris

In other words you don't actually know what's going to happen to the share price but instead of holding off on the predictions you spend all day on here telling everyone this is going to zero and if it doesn't, well, good?

What a strange attitude.

The fact you are so very sure of your convictions of how low this was always going to go whilst also claiming you didn't sell any of your shares even at 150p suggests to me you are either a liar or an idiot - take your pick.

Probably so but it's partly for this reason that the medium term prognosis here is bleak. If Argo are unable to generate significant cash and raise significant funding over the next 15 -18 months then they get to mid 2024 with very low bitcoin holdings (so benefit little from the appreciation in bitcoin), 50% less coins being mined and needing to replace their entire mining fleet.

Of course that's still a long way away and a lot can happen between now and then.

I've always been clear that, IMO, Argo is worth around 5p at such a depressed bitcoin price.

That is not the case if bitcoin starts rallying however so with BTC looking perky I can fully understand this move, higher bitcoin price will mean higher share price for all miners.

There's plenty of hours to go in the states but as of this moment it's $1.01 = 8.3p in the UK

If you'd sold at the high after the huge pump last Thursday PI and distributed your money across say, Mara, Riot and Bitfarms you would be *very* nearly a millionaire now. Of course simply hypothetical but interesting all the same!

Lamps, BMN's unwillingness to effectively communicate and offer clarity in uncertain times is frustrating to say the least but it's always been that way, they've always left room for uncertainty to fester and for troublemakers to inhabit.

The recent silence does not suggest anything up behind the scenes, most likely it's simply business as usual.

All the miners are giving power back to the grid at the moment but the rest of them are getting paid for it through their PPA, Argo aren't.

It's fair to say that Argo's assets aren't a million miles short of their liabilities but that's light and day with 5 or 6 of the other miners that have assets that dwarf their liabilities and now due to their scale and ability to generate cash (or thereabouts) even with BTC down here then that asset/liability difference grows ever greater. And when bitcoin turns those 5 or 6 miners I refer to will rapidly expand leaving the likes of Argo really struggling as 2.5EH/s suddenly mined just 170 coins a month, then 140, then 110 etc. Of course they'll be trying themselves to raise further cash to stay competitive but it will be damn hard at this point.

When Argo pumped to 18.5p last week it was obviously a silly valuation relative to the other miners, at that point they were valued at $106m vs clsk at $140m, obviously not realistic. Right now it's $53m vs $170m which at least isn't bonkers.

The fact Argo is in business and will be for the foreseeable gives them some value, what that value is the market is yet to settle on.

Quant, you missed the word 'Net' before assets. That's right, they have net liabilities and net debt.

Total liabilities as of 31st March - $23.9 million
Equipment financing April 2022
Total liabilities as of 30th June - $34.2 million
Total liabilities as of 30th Sept - $48.6 million

Obviously haven't taken up the full $35m.

I don't hold any clsk shares but to say Argo are more likely to survive the bear market than CLSK is ludicrous. For that to happen they'd need to burn through the current cash pile + HODL + ~$100m of new issued shares and then they'd still have $450m of assets to either sell or borrow against.

It's difficult to conjure up a scenario where they go to the wall before Wall and the gang.

Nah, some of this deramping eclipses the worst of the ramping, truly moronic.

Clears a few things up...

Assets ~ $35m + $20m = $55m
Total debt $79m, total liabilities $85m?

Realistically need to be back making a profit to command a 10p/ $60m valuation based on the fundies.

BMN and Largo flies anytime V pushes on past $45/kg, we’re very close to that now.

RK as in RichKen? He's very much invested and active at the moment, just not on LSE

You asked why the prices weren't aligned today but you hadn't even checked today's price?

With capex stripped right back this year there are fewer operational risks in the year ahead and a huge margin to play with - granted the worst case scenarios might play out and profits might be reined in to near zero but the base case is looking very positive and the bullish case (5200mtV+ with V kicking on further) sees profit as high as that total debt figure.

There *is* a clear roadmap to paying off the debt, obviously whether it happens remains to be seen.

I'm really not sure how you can say there's no clear roadmap to paying the debt off when we're entering what is to be a very profitable year ahead. Taking all the info from the interims and the current 17 Rand we should be seeing breakeven level at $29/kg with 5000mtV production through 2023 and V is well above $40/kg when you break it down across our geographical split. There is more than enough profit to deal with roughly 50% of that debt which is due in late 2023 and the rest is long term.

I agree that the SA issues will without doubt be putting many investors off right now but strong financials over the next few quarters should hopefully override that, especially at the piddly valuation Bushveld finds itself at now.

UK price 10.49*** excuse the typo.