Member Info for HarChris

Expected this sort of move in the couple of days following the update, to do 50% today is quite amazing.

In fact Hexam couldn't have been more transparent when he stated that he doubled his investment in Argo (think that's right?) to take advantage of post rescue package positive sentiment rather than fundamentals / any belief in the company long term.

That's what I was planning too but played it a bit cautious and obviously not going to risk getting badly spiked now. Lesson learned to read the room sometimes, not the balance sheet... Still, fair play to those that did.

Hopefully Chaebol won't mind me saying that between shorting this and longing Corz it's been a bad few weeks :D

The truth is probably somewhere in between. Novacyt was trading at 50% of its cash level before this rise, 60p to 155p was a tad extreme based on a flip in sentiment alone but now we're back to around cash level and hopefully a new base can form from here and with news start to push higher based on fundamentals and future potential.

Yes that's where the value is with BTC at $16.8k imo, I was perhaps a bit greedy waiting for that instead of taking the 6p offer as i'd be selling out now for 50%. And as often with me I underestimate the strength of short term sentiment.

GL - hope you get your 30p!

And even more extreme in a way MicroStrategy has raised a total of ~ $3.5B since first buying bitcoin in August 2020 only to find its share price back exactly where it started.

I've never seen an industry crash like this, it's as extreme as it gets. We're talking every single miner worth far less than the amount invested in 2020 through to now - you've got clsk raising something like $350m, today's market cap $144m. Bitfarms raised roughly $325m, today's market cap $93m. Heck even the standout miner Riot has a market cap of $560m following investment of around $1.1B.

Everything we are aware of is extremely positive - vanadium price rising, vrfb adoption happening at pace (particularly in China), the electrolyte plant on track, shipments to our biggest market where sale prices are higher are extremely strong, entering a low capex year with huge potential cash generation etc

What we don't know? What effect load shedding is having on production and costs... but we've had no rns informing us that full year guidance is going to be missed so at the very least we can be fairly sure that production is either on target or at the very worst going to come in just a tad under.

I take comfort in that.

Nicee, they could really do with bitcoin going on a run whilst saved-from-administration sentiment is with them.

What about those that held off ALL miners until recently? Are they granted a little more slack for at least calling the collapse of high growth bitcoin miners across the board?

If you're referring to me I'm one of the most generous towards PW and the Argo management, I've said many times that I believe a lot of this is down to sheer bad luck and whilst Argo are now not in a position currently to benefit from a future bull market, they are joined by every other miner in seeing a huge crash.

When speaking of being 'bear market ready' they were preparing for something far less biting than what we've seen, they obviously have to take blame for that but at the same time the bear market has taken everyone in the space by surprise.

Argo's certainly not worthless after recent dealings and will be worth more if bitcoin goes on another bull run (as will all the other miners) What that value is is subjective and debatable, which I like to discuss on here and so do many others, it's the ones unwilling to that end up the most irritated and abusive.

My research enabled me to make better decisions on a sector and stock that I had become interested in, essentially saving me tens of thousands of pounds in what would have been huge losses. In the future I hope it will help me to make tens of thousands, if not hundreds of thousands of pounds.

I'm not sure why you consider that worthless.

250p to 7p, I missed the boat but it happened to be the Titanic!

I am referring to the idiots that have nothing to offer apart from useless sky high predictions and lots of 'Harhar's', you are not who I'm referring to Wildboar.

I am not willing this down in any way, I post what I think and if it happens to go in the direction I think it might I'll possibly buy some shares. I still probably wouldn't as I'm more interested in the space in general and would rather invest more in Riot and some of the better growth prospects than Argo... That is not the same as deramping (which is exaggerated / false posts in order to encourage a share price to fall). All this 'missing the boat' rubbish is exactly that, rubbish.

I'll do my best to be considerate of those that have money in this though, even if their posts are unsubstantiated.

I don’t think I’m right at all, it’s a learning curve, constantly, in understanding the relationship between the fundamentals and short term sentiment..

I only bite occasionally as there’s three or four posters (might be the same person with multiple accounts) that attacks me directly.

I agree, some people are trying too hard to force a pump out of the recent news, let it be rather than keep predicting 15p, 20p, 30p, 60p etc

Let the fundamentals do the talking.

Argo has spent the past quarter selling their flagship asset as well as 0.75EH/s of new machines - I’d be surprised if Argo ever reaches 15p ever again, let alone 60p.

There is no growth potential here now.

Jesus Christ your comprehension is bad… I don’t own clsk shares. Tell it to the guy who is posting numerous times daily about them.

You’re so dumb.

Thanks Glengarth, that makes sense - also comfortable seeing Myles and BBN on twitter thrashing it out and coming to the same conclusion!

https://twitter.com/MylesMcNulty/status/1603365891181346817

Also interesting to see Myles name TGR as one of his three picks for 2023 and for BBN his outright number 1:
https://twitter.com/MylesMcNulty/status/1606270005724647424
https://twitter.com/BigBiteNow/status/1610246435051655169

Agreed, I've recently started buying miners and I'll be hoping to sell in late 2024.

Not only the halving but come 2025/2026 entire mining fleets will need to be replaced (/be replaced along the way). How many other industries have to replace almost their entire assets every 4-5 years?