Member Info for Hexam

"They have a strong balance sheet now and their burn rate has been reduced considerably."

No and no! How can you think this? What is your estimate of assets and liabilities? Why do you think burn rate has been reduced considerably?

It's technically insolvent for me today to. Not sure what your point is there. And my morals are just fine thanks - it's not me that's telling porkies like the company are guaranteed to survive another year, breakeven should be $20k and the balance sheet is very strong.

"Watch how quickly they reply to my post, the same folks that were saying this has no chance of surviving, no shame some lol."

Well I tried not to reply at all but there are just so many lies/misleading statements in your post that it's too much to resist.

"Now it’s one of the few miners that are guaranteed to survive the next 12 months." - Untrue. They MAY have enough cash now if BTC stays around this level (we don't know for sure as we have seen no financials since mid-year). But if BTC rises a lot we know they will be OK and if it falls a lot they won't survive (without more funds).

"they have a very strong balance sheet" - Really? Then what's your idea of a weak one? By my reckoning assets are less than liabilities which doesn't sound strong to me at all let alone 'very strong'. Happy to see any analysis that shows that I am wrong and the company isn't probably, technically insolvent at the moment but none have been forthcoming so far. Any takers?

"They should be breaking even at around 20,000 btc now" - Would be really interested to see your calculations to see how on Earth you got to that conclusion. Unless of course you mean they 'should' but they are not. Even on a cash basis they need BTC at around $30k whilst on a profit basis they need over $40k.

"the same folks that were saying this has no chance of surviving" - hope you're not including the likes of me and HC in that as it would be a straight out lie. We were both clear they wouldn't survive unless they got funding - and they did get funding so they survived. Is that really too hard to understand?

The rest of your post is conjecture but of course you could be right and there is no doubt the company is in a better position than a few days ago - just still not a great one in my view.

I think it's at least $75m as posted earlier i.e. from Mortgages (£3m or so) + Notes (£33m) + New Loan (£29m) so £65m in total or roughly $75m.

Can't think of any other debt (not counting any trade liabilities etc.).

Wrong on what exactly (apart from the obvious of buying ARB at much higher prices)?

“Chaebol, 6471 posts of tosh”

Seriously? If it’s tosh at least it’s been mostly right tosh. Have you read the rest of this board? 15p, 30p, £1 etc. based on nothing more than it used to be those prices before (and ignoring everything that had since changed). That’s the real tosh.

Cheers from me as well Stiggsy :)

“Is Argo now profitable?”

No. Short-term this makes little difference. Interest payments should be lower but the costs of Helios inc. power will simply be replaced by hosting costs which are probably a bit higher to give Galaxy a margin.

So at the moment they are still losing over $2m per month in cash (more in profit terms due to depreciation) but that will improve once Galaxy put in place a PPA and if they pass on any economies of scale as they fill out Helios. That probably won’t be enough on its own though so they still really need BTC to rise and hope difficulty doesn’t (too much).

Huss - I think that will come near the end of ch11 as part of their (hopefully) exit plan. So just some more waiting I’m afraid.

Cruis - averaging down at 3.5p would have been a straight gamble though as it was bust or live another day. Bit like here when it was 2p. And like here it’s lived to another day but further rises now need more good news - or some FOMO.

Poor’s average is 16p so a bit short still. Mine’s 30p so I’m even further away so not celebrating yet!

Happy New Year to you too Bonkers! Let’s just hope it holds better fortunes for CINE and that the board rids itself of the trolls and mindless rampers - though that second one is perhaps too much to ask??

“lol Hexam, you believe this company is insolvent, you post it, yet you buy. I'm sorry I find that really strange. Really really strange.”

Now you’re doing your usual misrepresentation. I said ‘technically insolvent’ which just means their assets are less than their liabilities. There are plenty of companies like that at the moment.

I really think it’s a waste of time trying to explain things to you as your powers of comprehension seem woeful but at least you’ve stopped trying to claim that their debt is only $35m. It’s at least $75m and now they’ve got shot of Helios I look forward to your explanation of the assets they hold and how they are worth more than this.

Poor - I don't need help. I'm just trying to play the market like everyone else and I've given my reasons. Maybe I shouldn't expect you to understand them though, after all you kept trying to convince me and others this morning that ARB's total debt was now $35m so please forgive me if you're the last person I'd take advice from.

"Surely, you can't be deramping to bring your average down?"

I'm not deramping. I just try to give honest and objective information and don't simply talk my book. I think the stock is currently overvalued but I bought as I'm not buying on fundamentals but banking on other investors believing the kind of silly hype being posted today. You just have to believe an sp is going up to invest - doesn't matter why.

"So, 'when' is BTC likely to be >$100k"

May never do in my view and almost certainly not quick enough for ARB. Apologies Blubay, my answer of what might take this over £1 was a bit facetious i.e. the only way of getting over £1 is relying on a very improbable event outside of their own control.

Tbh Blubay I've been buying this morning and my average is now down from 60p to 30p. Not because I think this is a bargain but if there are enough people out there that believe the £1 kind of nonsense (and all the other hyperbolic ramping today) there is every chance of more decent rises to come.

It's scary how little some people understand about the fundamentals of the company but are still prepared to invest their own money - but that's what I'm banking on and to me this presents trading opportunities which will hopefully eat into my losses here. Then again I could just be digging a bigger hole...

"In which scenario is this "back into the £1’s" ?"

BTC somewhere over $100k?

Perfect summing-up Bonkers.

Agree HC - today's RNS is good news (given the alternatives). I just don't think some of the hype posted here today is justified and the jump in sp already more than reflects that good news in my view.