Member Info for Hexam

"It must really get your goat Hexam that the mining youtubers still have wonky calculators"

It is a bit frustrating. Even if the numbers are 'right' they are not usually clear on what they have included which makes them kind of useless. More frustrating though is the number of people who just believe anything they are told by any old youtuber and treat it is as a fact. I see the rising BTC has brought of lot of this type out of the woodwork again as well as the usual crowd that can't believe the ARB price isn't shifting upwards more with BTC - whereas if they spent just ten minutes doing some basic research they'd soon understand why. Still, I suppose it makes it easier for the rest of us...

"Every bitcoin mined is now worth double last months."

I think you need to work on your maths - and your ramping.

"He has the post halving mining cost for Argo at over $60k per BTC, I thought Argo was an efficient miner, or is it dept costs or is his data feed incorrect?"

His data is incorrect, or rather incomplete, as Argo's all-in costs post-halving will be around $100k per BTC mined. ARB have never been an efficient miner and actually one of the worst. The actual cost in the latest accounts for ARB was $47k per BTC and the breakdown if you're interested was:

Direct (Electricity etc.) = $12k

Depreciation = $17k

Salaries etc. = $11k

Interest = $7k

Post halving these will be at least double hence will be around $100k. The figures from James probably exclude depreciation which is misleading as to maintain revenue companies need to keep refreshing and increasing their fleet of machines.

"Personally I find it odd that people who apparently have positions here suck up to the negative Bullies"

It's quite simple. I don't like abusive, arrogant, hypocritical or misleading posters - whichever persuasion they are. Just so happens that on this board they tend to be found much more in the ramping crew. Of course, that's just my view.

Calling posters who short arrogant, stupid, amoral and comparing them to arms dealers and drug dealers is not a personal attack? Fair enough but I thought Misty was pretty sensible and restrained in his replies under the circumstances.

Just sick of the hypocrisy on this board and the 'it's not OK to do something on this board unless of course I'm the one doing it' attitude.

Odd, for someone who claimed to have me filtered already (and just about everybody else) and keeps making a thing of it. Also known as 'Suthy Syndrome'.

"Just the usual personal attacks, ..."

Yes, started by notready.

Agree Misty, along with projecting his own stupidity and arrogance on to other people. This board in particular is full of it unfortunately - abusive posters who try to take the moral high ground or claim intellectual superiority but instead just make themselves look silly by displaying exactly those traits that they accuse others of having.

Investing in an AIM stock such as this is just gambling and arrogance that you know better than others and can predict market sentiment and the absence of news....not intelligent at all......just lucky.

Works both ways.

“Im interested to hear how you believe the sp value was fixed for the accounting and tax purposes?”

Because that’s the rules. The sp is fixed to give a starting point for all the immediate and future accounting and tax calculations. It’s the selling price that then changes and what the company or shares are actually eventually sold at gives the end point.

Fair enough James, apologies. It was SCB claiming you were backing up his view of an ever moving purchase price that threw me. I agree, the value of what they end up with when they sell will change but that doesn’t change the purchase price which is fixed and will always be reported as the same number.

I know crawshaw - it’s best not to bother. He’s just tried one of his usual tricks of coming up with a different and bizarre angle but his CGT argument only backs up your view not his. Same with the post from James.

They both describe events and changes in value after the purchase price is agreed and fixed for accounting, tax and every other purpose. There is only one price, it doesn’t change (unless there is a conditional element like there was indeed here but that went to zero anyway).

Of course those shares are worth less now (they could have been worth more) but the purchase price remains the same.

You are of course correct Crawshaw - the price was exactly as you first posted. It does not matter what the share price does afterwards in terms of the actual purchase price paid - just the value post purchase.

It’s no use arguing with SCB though as no matter how much he has been schooled he will always think he is the teacher and keep shouting to try to seem that way to others. In vain though as he just digs a deeper hole for himself and the board gets clogged with pointless posts that end up having less to do with BOO and more to do with ego.

All I'm saying is that they would have been better off sticking at 66% and that paying £270m for the last 34% has not proven a great bit of business. Yes, it is with hindsight but even at the time that looks pricey.

404 - I know, I was just talking about the accounting change. It makes thinks look much better when BTC is doing well and (even) worse when it's not. It's actually a fairer way of determining profits, just a more volatile one as well. I agree though, if BTC retraces significantly how it all appears in the accounts will be the least of their worries.

"This will be a gamechanger for miners with decent stacks for sure, appearance wise at least."

Great whilst BTC goes up but carnage if it retraces significantly. With great transparency comes great volatility...or something like that.

"PLT made a profit of £75M in the 2022 FY, which is more than a quarter of the total price paid. That doesn't seem like a shabby deal to me."

Actually I take my earlier comment about it not being a bad deal back. It does look a poor transaction in 2020 as they paid £270m for just the final 34% of PLT. So the £75m profit in 2022 quoted above doesn't look so good in that context and the £22m profit in 2023 looks even worse. So the original 66% stake was a very shrewd bit of business but buying the rest for £270m appears well over the top, certainly now.

"Ive been kind and also omitted the additional £54m cost they will have to pay should this sp stay at 491,"

I think that condition runs out next month and since it needed to stay above that for 6 months then it has already lapsed effectively. So the purchase price of £273m is the final one and to be fair didn't seem bad at all at the time but with the profits from PLT falling fast it doesn't look quite so hot now.

Looking forward to buying a cheap watch off Elvis in Benidorm and meeting his friends...

Should have gone to Specsavers

That's my point Alex. It's not CINE I agree. It's not Rolls either though. Just because Rolls went from being at a very low sp with 'no-one calling its recovery' (actually there were plenty if you read the board back then) to the lofty place it is now doesn't mean BOO will do the same. Likewise just because CINE also found themselves at a low sp (with plenty of people calling its recovery) and went on to fail completely doesn't mean BOO will do the same. They are both very different companies to BOO and it's a fatuous argument that could be applied EITHER way to ANY stock where the sp is currently in the doldrums. The rampers can say look at Rolls (or whoever) and the trolls could say look at CINE (or whoever). It means nothing.

I agree though it's all about the results. If BOO can demonstrate the start of a sustainable turnaround the sp can start to motor, if that can't and the results actually get worse then it will continue to wither away.

Unfortunately given that they've already said that they are on track to deliver the previously reduced guidance for full year we are going to have to wait some time until we see much evidence one way or the other. Hopefully they'll still be a few clues in those results but unless there is some M&A type activity to boost the sp it is likely to continue to wobble around in the 33 to 43p kind of range for some time and in the absence of news this board will continue to drown in drivel, abuse and irrelevant discussion.