Member Info for HarChris

Alfredh, it is really time to drop the Vametco rubbish. What's in the past is in the past, it is delivering this year's stated guidance and it is clear from the 4 stage plan that it is no longer the priority. Vanchem (in which we own 100%) is the priority and will eventually be producing considerably bigger output than Vametco.

Agree about the CLN but we aren't likely to fall more than $10-$15m short, perhaps it will be as simple as offering them shares at some agreed price next year (something between the 17p CLN conversion price and today's ugly 4.5p)

'So do any doctors on here know if the following new instruments are used widely in the NHS?'

WBAFC will be able to answer that for you.

That's the same for nearly all progress made over the years but most people aren't willing to accept that they were wrong at the time, only that 'things have changed' and they are changing with those times.

Glad we got the RNS this morning and good timing with all the news around covid.

Maybe we will be seeing increased revenues this winter after all???

Boom boom boom, there you go.

Looking good but worth remembering this is the third time in the past month that bitcoin has broken $20k, the other two times didn't amount to much.

Thanks red rag. I do truly hope the placing goes through and all those topping up super low at least make big gains from there. If Bitcoin rallies this week it makes this a lot less risky short term.

If I hadn’t been risk averse I’d be holding this from 40p - 11p to 14p wouldn’t be all that meaningful in that scenario.

My whole point is that you have absolutely no idea and throw out meaningless predictions daily. Sold out of my trade too soon but pleased for all those still holding.

If your comprehension was better you’d know I’ve continually said there’s value to be had at 12p as I think some sort of deal most likely will go through with the SI. Just not a gamble I’m interested in for now.

First top up for me in a long time too, this is much more positive than previous updates, especially factoring in how low we are now and how close we are to considerably bigger production and the completion of the mini grid + electrolyte plant.

It's a shame it took so long to get the mini grid signed off but worth remembering that it's a first of its kind in Africa (hybrid mini grid with PV and vrfb).

Very happy with the update, no horrible surprises and virtually no negativity on here for a change tells us a lot.

I keep seeing this sort of talk but in my opinion it's an incredibly stupid way to approach this investment.

If the share price drops below 5p it means that the deal with the SI has fallen through and Argo are almost certain to go out of business, especially with other factors (like new entrants in the space) making it even harder to see how they'll ever be competitive again.

What's important is the share price at any given time vs the facts available. I certainly would prefer to take a punt today at 11p (in the hope that the deal goes through) vs 4p in a month's time having seen the investor walk away.

During bear markets it's not wise to invest in the most beaten up stocks if it's because they are at threat of extinction.

I agree about low electricity costs / low admin costs to a degree but in an industry that's seen such intensely volatile cycles surely what's far more important is that you raise as much as possible when your share price has risen 1500% and you buy as many rigs as possible when they've fallen by 80%, six months later? An entity that times that well vs an entity that does the opposite (spends millions on machines at top dollar and raises money with share price down 90%) is going to go under irrespective of low general running costs.

It doesn't matter if you're in a position to run operations at a small profit if you've got yourself in hundreds of millions of debt, you will never manage to make enough money to pay off creditors further down the line.

Thanks for all that info AB. I suppose when you look at the big 8 public listed miners they have all increased hash up until this stage with only (as far as I know) Argo forced to start changing course. Then you have large privately held companies expanding like Merkle so currently it's likely to only be ordinary people switching off machines in the US/West.

When you think just how much the AntMiner S19J Pro's have come down in price it's no surprise that global hash rate is continuing to rise. In March Bitmain were selling them for $9500 per machine / $95/TH, CleanSpark bought 10000 machines in August for $28m / $2800 per machine and I believe now they are selling for just $1900 per unit.

So CleanSpark have already paid $9m more / an additional 50% premium on what they would have paid holding off just two months - winning in this space comes down to lucky timing more than anything else.

Interesting set of tweets from Will Clemente over the weekend including this one: https://twitter.com/WClementeIII/status/1583910097243492352

Won't come as a surprise to many on here this analyst has downgraded Argo and Core Scientific to a neutral rating from Buy. '“Persistent inflation and rising pessimism around interest rates have pushed back the eagerly-anticipated Fed pivot and it's now clear that less advantaged miners are already starting to run out of time,” Brendler wrote. '

https://www.coindesk.com/business/2022/10/21/wall-street-analyst-pulling-the-plug-on-bitcoin-miners-owing-to-bear-market-woes/

https://www.youtube.com/watch?v=uSD4vsh1zDA

Biggest being £50... AIM may not be dead but it is concussed.

When Bishop says he sold yesterday one should realise that he bought on Monday (or Tuesday maybe). This is not the case of a long term holder suddenly at the end of their tether.

It's like me saying 'that's it, i'm done, sold out completely!' without the context that i bought some as a trade yesterday for 11.5p.

Hexam I think we should form a two man partnership - you do all the analysis and I'll time the trades!

Well I just took £10k worth at 11.5p for a lil trade, anyone joining me?!