Member Info for Hexam

Spot on @retirment. No surprise and no cause for alarm if people are taking a quick 30-40% profit - that’s hard to turn down. Certainly makes more sense than MM’s trying to scare SHs or, even more strange, trying to activate stop losses (can’t be many of these set at around 25p as they can only apply to recent purchases of not much more than this).

Hopefully upwards momentum will be resumed soon but in the meantime, unless people are actively looking to trade, daily movements mean little.

Yes it’s annoying that they keep swapping currencies. I’m out today so didn’t bother trying to find the RNS to check. My bad, though I think the £41m ‘deposit’ was in the right currency - but you’re right to also point out that they’ve paid more since - now that the machines have started to arrive.

Oops - that’ll teach me to do it from memory. Yes $ not £ - even better. Thanks AB.

@chuz - they said they needed around £125m before the loan so they should be able to pay for the remainder out of the BTC they hold/mine and that isn’t tied up already with Galaxy - should they choose to do so.

Btw the accounts showed that they had paid just over £40m in advance for the 20k S19s.

I don't think I will actually. Apart from AB (who I wouldn't really count as one of the 'relentless positive' posters anyway) all I tend to see is cheerleading for ARB or condescending attacks on anybody saying anything negative - which I must admit though is pretty ballsy when the sp is 60p from a high of over £3.

There is a lot to look ahead to now but the past six to 12 months have been pretty miserable with many a misstep along the way and I don't think for example there is much that FP has said that I disagree with. Some of that 'misery' has been the price to pay for focusing on Helios which looks like it is going to be a price worth paying - and full credit to PW and the team for that - but not everything has been because of that.

I'm just glad I've traded alongside my LTH on the way down - it should be even easier to trade on the way back up :-)

Apologies I didn't realise the 'you' was a general 'you'. Makes sense now!

@Whiteman did

Relentless biased positive posts, without any address or impartiality. Anyone would think they work together and have an agenda!!

*between the buyers and sellers

No a UT is different - it is from the closing auction whereby the price reached is that at which the most trades can be carried out by the buyers and sellers given the various prices they want to trade at so unlike normal trades (e.g. when you or I buy from or sell to MMs) there is an immediate equal and opposite trade. So it is always as much as a sell as a buy. This price also sets the closing price.

I'm not selling at this price so don't understand your question.

The UT is a buy AND sell by definition.

"No shame in holding, in fact it’s the best option"

The only time that can really be true is if the sp goes up continually. Something which can't really be said for ARB (or any share).

We all have different approaches, no one way is 'the best' as that involves selling at every peak and buying at every bottom, which is of course impossible. We just all try to do as well as we can with an approach we are comfortable with and depending on the stock. Personally I'm glad I haven't just bought and held with ARB or else I'd being looking at a thumping loss now. As It is I've at least offset some of the loss on the shares I've held by taking advantage of some of the rises and falls - of which there have been many - to either take a cash profit or to buy more shares back than I had. But each to their own.

Yes Calamari - I read it the same way (and is exactly what the quote I gave says). Perhaps I just misunderstood the original question which I though was questioning the drawdown - not which facility it was from.

"Again, the £125m EBITDA was actually 'Adjusted EBITDA'"

Correct - EBITDA is around £63m (PBT of £7.8m and add back depreciation and amortisation of around £54m plus a tiny bit of interest). The adjusted EBITDA is a better indicator of ongoing profitability as it excludes exceptional items - but better only in terms of EBITDA which is of course not the whole/true profit as it misses out a lot of things, namely the I, T, D and A!

Best indicator is probably adjusted profit before tax which was £82.5m.

There's a lot going on in these results though which makes it difficult to assess just how good - or bad - they are but it gives plenty of ammunition to both supporters and detractors. Looks like a mixed bag to me but hard to judge on a quick glance - one for a proper read through later, with possibly or whisky or two...

@Peoplepower1 - "Have I missed something? Where does it state on the RNS that £100m has been drawn down today from the £325m Revolving Credit Facility?"

It's in various places - for example under the Group Overview:

"After the year-end, the group secured a new £325 million rolling capital facility, increasing from the previous £100 million facility, which was fully drawn at the year-end."

"Cineworld are not on a tracker or variable interest rate."

What makes you say this? The loans appear to be on a mix of fixed and variable rates (the majority) which means they will be affected by interest rate rises but not as much as if they are all variable, or as CINE themselves put it:

"Interest rate risk arises from the Group’s borrowing facilities in which a variable rate of interest is charged. The Group has historically managed this risk by securing fixed interest rates on a portion of its term loans"

"Positive cash flow in May is a large possibility imo."

Should be comfortably so.

I just focus on the profitability of the business and IF the company deliver on something even close to their recent outlined growth in EH, plus immersion on top, then annual profits should soon hit £100m and then some (unless of course BTC throws a tantrum). Profits well north of £100m pa would make the current mcap look silly so I would expect a decent rise in sp over the next year especially if the growth is indeed achieved without further dilution. There are still risks involved though (implementation, BTC price, political etc.) but it's looking good to me - though just my view.

However, what the sp does in the meantime is anybody's guess, including for the reasons you give. So who knows what the best time to invest is if you are thinking of doing so - not that I would presume to suggest what another investor should or should not do with their money anyway.

Sounds very reasonable so let's just hope it's not because of a new miner joining (or random fluctuation) and that they have reduced the downtime this month - which would be a nice bonus ahead of the new machines going live in Texas.

I hope that's right AB as the average global hashrate for April was around 210EH so by my reckoning that would put us up around 90% of what 1.6EH should be producing and much better than recent months - though still not quite up with most other miners who are over 90%. A much better starting point ahead of expansion though so let's see what actual reported numbers are.