Member Info for HarChris

''Quarterly reports containing unaudited quarterly financial information regarding the issuer must be filed within 45 days after the end of the fiscal quarter for the first three quarters of the year with shorter filing deadlines applying to accelerated filers. '

45 days after 31st October is about the 15th December, so another two weeks to report.

I did say even at 8p that bankruptcy was not being fully priced in, the threat of going under is very real with the odds increasing by the day.

That's all that's going on now, it's finally being priced in. Imo we're close to it being worth a punt, not for me but in terms of value for the risk lovers. If bitcoin was following the nasdaq we'd be talking decent value again at 5.6p but it's not, bitcoin has lost $17k again.

4p is punt level

Thanks Kaeren, it's a subject I know a fair bit about and the only sector I've ever attempted (amateurishly) trading.

One month ago, Argo 7.5p, BTC $21k, ceo in talks about funding - huge upside with decent odds of it happening.
One month later, Argo 6p, BTC $17k, cryptosphere in chaos as bank runs occur, silence from ceo, considerably late with quarterly update, bitcoin unlikely to recover before Argo goes bankrupt (circa March-May)... upside is still there but with slim probability now - one to avoid in my opinion.

Right, shan't mention them again on this bb. Hopefully news soon to discuss here!

In that case why bother taking on the de facto role of knowledgeable city expert then? In general we all know that most 30% rises will fizzle out if there's no news to back them up but, following a total dearth of interest in novacyt, it's still something to be mildly pleased about. That the share price rallied past what it was before the CEO exit *is* a positive.

Unless we start getting rampers flooding the bb screaming 'buy before it's too late!!! Leak!!!!!' etc then we don't need you here telling everyone to do the opposite.

It's a major, major concern for Argo. With how bad the bear market had already been and with PW messing up the funding situation Argo became absolutely reliant on a short-medium term bitcoin recovery. What happened next with FTX will very possibly be the demise of Argo Blockchain. It's simply hard to see what could change in the next few months that would free up bitcoin to go on a meaningful rally.

Look at the past 24 hours. Jerome Powell makes his most dovish speech in yonks, the nasdaq pumps, the S&P pumps, BTC limps over $17k and Argo shares are going for 5.68p.

If it wasn't for FTX and the subsequent fallout I think BTC would be above $20k now and Argo would not be on life support but that's not what's happened. Hard to see Argo's survival as anything but a long shot currently.

Yes PI100 has moved from his Ilford bedsit into his Chelsea townhouse mansion due to his unrivalled skill at swing trading novacyt.

25% up on the 52 week low of a week ago - promising!

Well as someone that's neither heavily invested nor gunning for Argo to fail I'll comment without bias - I agree with red_rag that in answer to BC's question... no, it doesn't surely mean next they have to file for bankruptcy. If however Peter fails to sort further funding and bitcoin stays sub $20K then eventually yes filing for bankruptcy will be inevitable.

If they've received all that cash for the ~750PH of new machine sales (no reason to suggest otherwise) then at the very least it should give them cash runway til late Feb/March, and possibly as long as May, for bitcoin to turn around or further funding to be arranged.

As far as I'm aware they haven't crossed any deadline re quarterlies so I wouldn't be concerned about the lack of Q3 update unless it goes well into December

Bitcoin's up 2.5%, Argo is up 1.5%, is it that far apart?

Out of interest is all your money locked in here PI or just a percentage of your portfolio? I think I saw you say at some point but can't remember... I know you made a killing in CINE recently.

Of course, we've all got different opinions, I'm merely critiquing the rationale for yours. In terms of bitcoin I've said since the FTX debacle that I think we're unlikely to see bitcoin recover for some time (kills of meaningful relief rallies over the next three months even, imo) and that further contagion is likely. Prior to that I did buy and sell Argo a few times and did see value in the share price (7.5p pre FTX collapse with BTC at $20K was *MUCH* better value than 6.5p today).

We both agree that Argo likely has a 4-6 month cash runway (you 6, me closer to 4) and it's been three weeks so far with no sign of life. So next week we're looking at 3-5 months cash runway.

Anything can happen in that time but I wouldn't want to be risking money on events playing out as I hope in such a short timeframe that's all, despite obviously being more than possible.

But it's this winter that's going to be the hardest for the UK and for Europe, it's this winter we are going to see an energy crisis so why by your logic is the war going to end in the Spring? Why after enduring the difficult period would European leaders and Biden demand an end to this war? The opposite is likely to happen sadly, if the war continues until the spring then it's likely to continue for considerable time afterwards, or at least there'll be less incentive from the West to apply pressure to end it - and even if the war were to end that won't be the end of sanctions and hostilities between Russia and the west.

The *only* positive of this war (and I hate even saying it with an asterisk) is that nations are finally fast tracking renewable alternatives to Russian gas... we'll see more progress in a year than we would have in a decade or more.

Neither of us know when the war is going to end PI, neither of us have any idea when bitcoin is going to recover and therefore whether Argo can survive but it's just you that thinks they do.

What happened to novacyt is insane yeah, this was a tiny company that would never have developed into a leading international diagnostics business. I think we can all see that.

Now however with £99m vs £1.5m prior to covid they still have a genuine chance of achieving that. So far so bad under David but all is not lost... in fact nothing is lost as of yet.

You literally just said check my history and I did. I pulled you up once, you claim it was satire. I pull you up a second time, you claim it must have been a reply to someone (yes to me).

I stand by my decisions, if I buy and the landscape changes I will sell at a loss. I took a 4% loss on clsk and would be down 24% now if I had held on like you are with Argo.

So the following week your second call for $21k was simply more satire?

BTC prediction16 Nov 2022 13:16
If you think my prediction of BTC of over $21,000 plus in a few weeks is crazy, you don't want read this article. ;-)
https://cointelegraph.com/news/tim-draper-still-positive-on-250k-bitcoin-price-prediction-in-2023

Next week you'll claim $21k by June '23 and will then say it's always been June 2023, never deviated from that prediction!

RE: BTC gone crazy again 10 Nov 2022 14:52
I’m still saying 21,000 Monday, in my opinion.

That took me all of thirty seconds.

You’ve incorrectly called $21k twice (and missed by a longshot ) and are now having a third go at it, based on your knowledge of the Ukraine war ending?! Could someone let the Ukrainians know???

Anyway, even if Bitcoin were to jump to $21k that’s still far too low for Argo to generate cash, they need closer to $30k…

Different reasons but one of Hut8's sites, North Bay, now offline - around 0.85EH/s.

Might be of interest to one or two of you.

Now with BlockFi going under it feels like all these firms are connected and it's only a matter of time til the next one files for bankruptcy.

Blockfi are one of the lenders Core Scientific owe money to, $52m, so what happens next in that situation? Do the administrators go demanding the money from Corz or is it likely written off?

Not touching Mara after that recent article I showed you, they seem a little less secure than I was led to believe and even if they do raise money they are diluting at these lows now.

Only willing to add to my Riot holding currently unless Mara crashes through the 4s!