RE: Response to my Nasdaq question from team Argo (ignore for those who hate this discussion)8 Apr 2021 23:08
They don't comment on anything. I sent an email a few months ago :
Hi Peter
Thank you for transforming Argo Blockchain from startup to billion-pound company. I believe the momentum driven by the clarity and measured hand of leadership has helped make Argo one of the most trusted miners in the world.
As Argo grows, and more traditional investors consider adding Argo to their portfolio, and indeed, existing Argonauts consider investing larger portions of their portfolio, there are questions about the tangible footprint of Argo that need to be obvious in order that reservations are quashed. I am a retail investor, who has grown Argo to my largest position this year.
Put briefly, I do not know that the 599 Bitcoins exist in a wallet controlled by Argo, nor do I know for certain that mining actually takes place, or that the facilities in Quebec actually exists.
You will be aware of the hatchet-job against SOS by Hindenburg Research, who presented questionable evidence which lowered the share price of SOS at a time when they held a short position. The effect on the share price has partly bounced back, but remains scarred. Companies whose assets are difficult to quantify are prime targets for the action seen regarding Hindenburg, and I really think Argo should be positioning itself to prevent this even being attempted.
I ask that you consider measures to assure (potential) investors of your real-world presence by:
Publishing the wallet address(es)
Publishing the address of at least one of your facilities
If this is a security concern, perhaps inviting a notable impartial party to verify proof of operation, such as the Chamber of Commerce.
A live stream from the facility itself.
I hope my suggestions are taken in the spirit in which they’re intended; I realise the potential for insult, and that isn’t my intention.
Kind regards,
The reply was just a brush off
Thanks for your e-mail and for your continued support in Argo.
For security reasons we do not disclose the exact locations of our facilities or our wallets. However, you are welcome to check out our audits
from previous years which disclose all the information about our business. Our 2020 audit will be released by the end of Q2 approximately.
I still have my money invested - but someone simpley talking a lot on camera is not transparency. That's great and all, but I have no idea of the substance.
The auditing of accounts means nothing - many companies have had outrageously fraudulent accounts passed by audit, such as Palmer and Harvey.
Anyway. Not deramping, my money is still in Argo, but they seem to be doing little to make sure yet don't become a target like SOS.