Also note that the drilling holes are close to the surface (open pit) therefore they are cheap to mine and very profitable. Furthermore some intersected holes were high g/t AU like 9.1 and 4.2 respectively.
This is very good news I mean : " High-grade gold intersections of up to 9.5 g/t Au have been encountered." Still another results should be coming next few weeks and phase 2 drilling is starting. Plus there are other 3 concessions to look at. Furthermore most of the resultd from gold mineralization is on the surface which should be very cheap to mine and profitable. So why the SP has not gone up???
Well is not a loss until you sell... I bought at the peak, I got driven by speculation and hopes that Ctea app was going to bring some revenue from a good contract. I realized this company may be just a big scam and we are paying Guy salary. Luckily I only invested a small amount £500.
If bitcoin drops to 20k, Argo is still making money and it is profitable. You gotta consider that if bitcoin drops so much, the mining difficulty will drop at the same time. This is because small mining facilities, or even retailers will stop mining bitcoin as it will be not profitable enough. Therefore, while Argo would mine a 20k bitcoin, it will probably mine a lot more quantities (i.e. lets say 50% more than the usual number). In the end this business is always profitable for Argo mining margins that are so great