Member Info for HarChris

Well what we can say for certain is that directors can't buy right now, it is a closed period before the full year trading update.
It's not an excuse for why they didn't buy weeks ago but we can't technically say they don't see value down here at 245p...

I've always been quite suspicious of the bitcoin mining council and having someone like Michael Saylor heading it up and pressurising the miners into holding the coins they mine rather than reinvesting.

A few people sharing that they've decided to top up now (rather than rushing in on the recent drop/decline) is not ramping.

Go to other boards and you'll quickly see what ramping it is (hint it involves posting multiple times an hour, text written in capitals, lots of exclamation marks, lots of 'this is your last chance at these prices' etc)

It's just you PI100 - the trolls are pretty easy to spot!

Hence a 'solidified loss' could be reversed within minutes.

'generally a loss means you can't get it back. if you don't sell you CAN get your money back - so it isnt a loss by not selling. you are not cementing in the decline in value of your stock.'

Sure but we're talking about very liquid stocks, not illiquid houses and the such.

You can sell and buy back 5 mins later if you want.

Well the market is certainly not pricing in positive results...

Had personally held off topping up following last Thursday's drop but 245p is enough for me.

They only have 60m shares in issue so the comparison is meaningless.

Thank you John, a positive correction and good to hear.

MaryBr190 @ 10:24 ' 35p is a good entry.'

MarBr190 @ 10:37 ' @2nd trance (sic) sub 62p'

Very close to the 52 week low.

IF BTC steadies itself I expect Argo to bounce quite hard off 62p.

Still can't bring myself to go in hard though with BTC looking so weak... arghhhh might live to regret being so cowardly!!!

Ugly, ugly BTC price action - where's the next strong support?

No I believe he quoted the sweet spot as $45 per kg - really not far off though.

Surely surely those slamming argo are only here for a better entry price? Otherwise what's the point?

That's why I'm here anyway and must say getting rather tempted now.

Some very good posts today in amongst all the Dribble, sorry drivel.

Well simply using the December update 214 bitcoin mined generated $10.55m giving an average price of BTC during December as $49.3k. This was generated at a margin of 83% and so from that we can say operational profit BE is about $8.5k

I believe net profit is made from about $16k a bitcoin so still highly profitable... on the flip side profit at $32k is $16k/BTC whilst at the high of $64k profit was $48k/BTC, treble. The SP has not fallen by 2/3rds since ATHs which means possibly further to fall.

Those more knowledgeable please amend my workings!

No it's very much not as simple as some on here are making out. Yes the trend is your friend rings true yes this is likely going lower but to simply write off value here ignores a potentially amazing opportunity. A deramper will say at a pound say this should be 80p, at 80p say no no it's not worth 50p, if at 50p they'd say 20p max. Heck I'm almost falling into this category as I said I was waiting for the 70s and yet didn't buy on Friday !

The lower this goes the greater the risk/reward becomes as Argo will soon be mining more coins than ever with Texas (and maybe more than ever imagined if difficulty is adjusted way down)... so tucking cheap argo shares away in wait(/hope) for BTC to recover to new ATHs (whenever that is) could be extremely lucrative.

It's bad for current holders but excellent for the company - it allowed them to raise £100m without incurring any extra long term debt. Then you have the £27m placing earlier last year also.

Raising during boom times has pretty much secured Argo's long term prospects.

I must say K3 the way you manage to stay positive and maintain your posting style through thick and thin is very admirable.