Member Info for HarChris

Even if it hits 100k Tiger will be struggling to make a profit here - needs a 97% jump to break even currently Ray.

@canetoad all we need to see is that IIs are holding strong or even better, the likes of T.Rowe Price are loading up (once this settles down a bit of course) and this will begin its recovery. Probably won't happen overnight though.

It's not all bad, once the share price reaches invest.well's entry level we will be treated to a day of positive and energetic posts about the great potential of bushveld once again - something to look forward to!

This steady rise to ATHs for bitcoin is rather reassuring.

Same here and I think it's as good a time as any to be looking at a change at the top.

If the share price hadn't already dropped so low I'd have been worried but at £2.8b mcap I think it presents an opportunity.

I thought you traded these stocks Dan? If you think the reaction is going to be so ghastly wouldn't you be actively watching them not passively allowing your holdings to decrease in value?

Boohoo's gross profit has seen similarly extraordinary growth, albeit not quite as stark as revenue growth, as you would expect.

Invest.well you are so f****** transparent. You sign up last week, first post Thursday morning is a negative one. Share price starts falling, you post midday a slightly more positive message. Then SP hits low of 9.1 and flurry of posts begin, dominating the board with comments such as 'buying at 9p to sell at 15p', how 'today is a good day to buy' over and over again and how 'today you made money'.

Friday morning you clearly are still holding, you post pre-opening to talk of another exciting day of discounted shares in store... the SP doesn't play ball and fails to catch a light and you go deathly silent. No more posts til the Saturday where you suddenly, despite only just signing up seem to be familiar with Alfacomp and Pdub and banter them as such. Now you aren't talking up how cheap the shares are, instead peppering in 'duferco' to warn of the threat that might be...

You aren't subtle.

It's foolish to just assume the bottom hasn't been reached already - the share price is currently 20% below pre-covid February 2020 levels and 55% below 2021 highs. This is NOT a covid stock, just one that had a major advantage last year and has made a few hundred million profit extra because of it. Still, despite their advantage last year the environment wasn't exactly one suited to retail full stop - nobody going out, no parties, no festivals, no social engagements.

The weeks following the 15th July trading statement were the ones to short/watch from the sidelines. Many ignored the weak outlook and started buying in early August at around £40 a share but that was always likely a mistake. Personally I started scaling in here at £33 and now have an average of £29.90. I plan to add further this week as we are approaching three months since the last update, enough time for panic to subside - anything better than expected on Wednesday and we should see a partial reversal.

Good posts below. Right now Argo is an extremely profitable business and yet only commanding a valuation equivalent to a PE of about 10, for the reason I think that Lottohopes and K3VMC explains. Argo needs to distinguish itself as a technological and innovative leader if it to be viewed again by the market as an exciting and dynamic growth stock.

I'm very confident that there will be no more dilution for some time and as a highly profitable company possibly never again. Typically big equity raises are used by firms that already have a big debt obligation to service or are in the early stages of growth with profitability being a long way in the distance - argo fits into neither category.

Of course the situation is more complicated as I'm sure he's pledged alongside the other North American miners to HODL as many of the newly minted coins as possible but as long as BTC keeps behaving and rising they'll be able to tick along nicely selling just a small percentage when they see fit.

Whilst b******* about many of the bitcoin twitterati in the past, I've started following that young kid Will Clemente - what a breath of fresh air he is.

@the_chuz “I'm getting close to dumping my whole holding and sticking it in Hut, Mara or ANY.”

At some point the opposite will happen, this will breakout and holders of other miners will move their funds into here. This sort of cycling goes on all the time.

In other calculations I've done I have failed to adjust the mining margin - theoretically speaking once they've expanded the margins should go up significantly (it sounds weird saying that when they are already so high). Are there any reasons why that wouldn't be the case and they might stay closer to where they are now?

Thanks Lottohopes, I am aware of this but don't quite understand exactly how it works. In terms of bitcoin paid to argo (non newly minted coin) in a sense do the fees paid per transaction go into a virtual pot to be distributed out to those who do the mining and maintain the network?

@Hexam thanks for the reply. I knew my figures had to be inflated as the $800m rev per year would give profit above current mcap! Still, when you consider that it isn't beyond the realms of possibility that Argo could be earning per year what today's market cap is, you realise just how big the upside potential is.

Ignore google price, 120p to buy on HL.

Could someone check my figures and tell me if they look sound? I assume total hash rate will increase but no point second guessing it right now. I've only gone with $25k, $50k and $100k despite knowing it could be far higher. I'm also assuming expansions plans are successful within the timeframes PW has discussed but reality might be different to that. Still...

Total hash rate for bitcoin network 150 Exahash = 27000 coins mined per month.
Fast forward to end of Q3 2022 - Argo = 3.7 Exahash = 666 (oooh lucifer!) coins mined per month

At just $25k BTC = revs of $16.65m per month / $200m per year
At $50k BTC = revs of $33.3m per month / $400m per year
A $100k BTC = revs of $66.6m per month / $800m per year

Current mcap $775m.

Is that right?

Sadly he's one of those types that doesn't experience loss of face or have the capacity to learn so he'll just be back tomorrow or next week saying he got the week wrong but trust me Tiger has spoken and this will be 120 by the end of THIS week!

Good for you invest.well but do you really need to tell us five times that you plan to sell at 15p?