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I am not sure the CEO should be filling the board with his choice of Non execs. Although PW is interim chairman he shouldn’t still be. CEO should be scrutinised and held to account by NEDs,
Not saying the new NED is sympathetic to PW, but PW chose him, so this isn’t exactly top tier corporate governance on display.
To be fair, Tower haven’t got the bit of paper from the government. If Tower had received feedback on its submission (good or the submission requires a rework eg don’t like a partner) they would have had to RNS it. To my mind the issue is with the government’s stamp of approval. The Beluga part will be papered pending the go-ahead from the government.
I am also not sure about this licence expiry nonsense. Acknowledging this is Africa so things work differently… We know the application has gone in. Government can’t sit on its hands and do nothing the claim the licence has expired. You lose the licence through non compliance regarding the details of the licence. Eg drill by a certain time etc.
Its hard to breach the terms when you are waiting for a government to give the go ahead.
Telemachus has outlined his thoughts on the RNS this morning over on Reddit.
https://www.reddit.com/r/PantheonResourcesPANR/comments/st1aew/theta_west_updip_appraisal_of_talitha_basin_floor/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Grasping a bit but,…. Intel makes chips, Argo configures /optimises miners. Could Argo have some IP in terms of miner configuration / tuning which will be deployed into these machines. Then some sort of royalty per unit sold going forward?
PW says absolutely nothing about the business’ future plans. He generally announces things after the event, so not beyond the realms of possibility…?
FP I didn’t say they wouldn’t install them.
What I said is that the problem happens when they are all installed but the grid won’t let them have all of the power they need all of the time.
Argo have had this problem in Canada with a smaller number of machines in comparison and we also know that the Texas grid is fragile.
What I am saying is that the more machines installed the more exposed one is to the availability of power you need to run all of those machines.
Put is another way. If 2 companies are restricted to x amount of power for a period of time, but one has 4x the number of miners, the one with 4x the number of miners plugged in is going to feel the impact more.
The more hash rate you have the more power you need. We have seen this week that Argo have to switch off machines in Canada due to power availability on the grid.
Some of these companies with a crazy number of machine e.g Sphere, may find themselves periodically limited by power availability. That is a huge amount of overhead to cover stood idle because the grid can’t support them.
This would lead to a poor mining profitability which won’t look good…
Kevin, I appreciate you wait for first week of the month so you can gargle PW’s balls so you are somewhat blinkered. However you need to take a step back and look at the consistent second rate execution by Argo of what is generally good strategy they develop.
It is a sloppy logo which is a rip off of Airbnb. If you can’t see that.. oh dear….