The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
we have:
"Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to provide a further update to its previously announced non-binding Letter of Intent with DPN LLC of New York, which set out the terms for Argo to acquire 320 acres of land in West Texas, USA. The Company has now completed the acquisition of DPN LLC and as a result, has acquired the land.
The acquisition of DPN LLC (by way of a merger with a wholly owned subsidiary of Argo) gives Argo access to up to 800-megawatts of electrical power, where Argo intends to build a new 200mw mining facility over the next 12 months. This facility will provide Argo with what it believes are some of the lowest electricity rates in the world, the majority of which is from renewable sources.
The consideration for the acquisition was an initial price of US$5M, satisfied by the issue and allotment to the shareholders of DPN LLC of 3,497,817 new ordinary shares in Argo, with up to a further US$12.5m in shares at a predetermined price being payable if certain contractual milestones related to the facility are fulfilled."
No, you're absolutely right:
"Argo Blockchain PLC - London-based cryptocurrency miner - Completes acquisition of DPN LLC and 320 acres of land in west Texas, US for USD5 million though issue of 3.5 million Argo shares to DPN shareholders. Notes a further USD12.5 million shares will be payable if contractual milestones are fulfilled. Says the acquisition, which will see Argo merge with DPN, will give Argo access to up to 800 megawatts of electrical power, with Argo intending to build a new 200 megawatts mining facility over the next 12 months."
https://bit. ly/3v71b4s
Makes the Texas land buy sound better and better doesn't it. We haven't just bought a plot of land next to a sub station and now have to figure out how to build a facility there, go through planning approval and all that; someone's already done the time consuming bureaucracy bit. We just have to get on and build it.
Kozzi, he did indeed.
I also liked that he explicitly said that the dreaded 'working capital' part of the fundraise was to allow them to have cash on hand to jump at an investment opportunity or necessary expenditure - ie it's not to pay the directors' salaries/bonuses/buy new company cars/whatever other nonsense people like to say.
Get on with Texas asap instead of waiting for debt facility to be confirmed. Plus some of the dreaded 'working capital'
PW video update:
https://www.youtube.com/watch?v=Gs_fUGmbSmY
Has Zoro wet the bed and started his moaning shift early? Or is he miraculously bullish this morning?
Can’t see his drivel anymore.
Robmana .... yes! haha!
Intrigued now.. trying to think who's behind your username!
Will both of you please just either sell up and go away, or have some faith in your investment decisions.
Tiger, stop banging on about Argo getting their BTC hacked.
Zoro, stop ****ing your pants.
Thanks
Hereshopin, who knows. I opened a PB acct and had it verified this evening in minutes.
£6.8M from PI’s in an hour!
I saw PW’s salary mentioned at £150-200k in an article about it being paid in btc.
People talking about verification time.. all you have to do is give your email and click the link in the email they send to you.
Literally under a minute to do
Just done it on the app, 10 mins start to finish from downloading and opening an account.
Money where my mouth is, only 500-odd quid, but it gets me to a nice round number and maintains my average. Ha!
Thanks Tiger, don't let the door hit you on the ass on your way out.
Tiger, I just read back some of your postinghistory wondering if it was you who warned us in block capitals of these alarm bells a couple of weeks ago, telling us no furterh shares should be bought. You were going to share your source's knowledge with us then and didn't.
Since then you've claimed to have been a long term holder, in and out like the ****ing hokey cokey, made a fortune, doubled your money.
Your posting history reads like the ramblings of a deranged schizophrenic who is off his meds.
Calm the **** down man.
@Cheemap.. BItcoin Halving explanation..
https://www.investopedia. com/bitcoin-halving-4843769
(copy and take the space out before com)
hahaha! Argo-family! :0)
The hedonist in me got worn out a long time ago :0(
@Shantaram, if you want an Argo-fam designer hit me up. I did this place in Ibiza a few years ago:
https://www.villaguru. com/luxury-villas/spain/ibiza/villa-can-jordi/
I've started my own business up again after 7 years designing bars and restaurants on the London-Dubai merry go round.
None personally, but my portfolio is currently 70% Argo, 30% KR1
47 here. But like RC, in my head I reckon I'm still in my 30's.
Only got 8300 shares here so I'm just hoping this and KR1 will replenish the coffers after I flatten 6 figures on house extension and renovations starting in 2 weeks time!