Member Info for MisterPositive

Investment case for me is very simple.

With significantly lower Opex going forward and rising BTC, do i expect price here to rise. YES.

"The cash proceeds received from the sale of Helios, along with a portion of the borrowings under the asset-backed loan, will be used to repay all existing indebtedness, prepayment interest, and other fees of approximately $84 million (£70 million) and $1 million (£1 million), owed to NYDIG ABL LLC and North Mill Commercial Finance, LLC, respectively."

Many might have missed this key line above.
...will be used to repay all existing indebtedness..
ALL existing debt...

Plus renewed focus also at Canadian operations in addition to Texas.

28 Dec 2022 RNS...

Announcement of Transformational Strategic Transactions with Galaxy Digital Holdings, Ltd.

? Argo's subsidiary to sell its Helios facility to Galaxy for $65 million (£54 million) and refinance asset-backed loans with a new $35 million (£29 million) loan with Galaxy

? Transactions will reduce total indebtedness by $41 million (£34 million) and simplify Argo's operating structure

? Argo will maintain ownership of all mining machines, and Galaxy will host Argo's fleet of Bitmain S19J Pros at Helios

? Transactions will strengthen Argo's balance sheet, improve Argo's liquidity position, and enable the Company to continue operations

The cash proceeds received from the sale of Helios, along with a portion of the borrowings under the asset-backed loan, will be used to repay all existing indebtedness, prepayment interest, and other fees of approximately $84 million (£70 million) and $1 million (£1 million), owed to NYDIG ABL LLC and North Mill Commercial Finance, LLC, respectively. Upon this repayment, approximately $6 million (£5 million) will be returned to the Company from a collateral account controlled by NYDIG ABL LLC.

Peter Wall, Argo's Chief Executive, said, "This transaction with Galaxy is a transformational one for Argo and benefits the Company in several ways. It reduces our debt by $41 million (£34 million) and provides us with a stronger balance sheet and enhanced liquidity to help ensure continued operations through the ongoing bear market. It also allows us to focus on optimizing our operations with significantly lower capex and opex requirements."

Wall continued, "Argo will maintain ownership of its fleet of Bitcoin mining machines, which represents approximately 2.5 EH/s of total hashrate capacity. Our miners currently operating at Helios will continue to be hosted there by Galaxy, which is a high-quality, institutional participant in the Bitcoin mining space."

Donotpanic
Agree. Some holders with an open Short position probably sweating a bit.

Galaxy Deal is transformational. Some need to go back and read 28 Dec RNS to fully understand instead of scaremongering others for a lower entry again to trade quick +20% upside.

With transformational deal with Galaxy and $41m reduction in Debt, ARB now back on track with BTC expected to go higher in 2023.

Current price is excellent entry point again for many who might have missed last time when it got to £3 back in 2021 when BTC hit the highs.

Gold $2000 next target.
Many market analysts forecasting a strong run for Gold to breakout past previous highs and on to making NEW highs.

Lovely timing for ORR to keep adding more Gold oz and increasing JORC further in 2023 and beyond to coincide with Gold price bull run.

Company thinks we could potentially be sitting many "Multi-million oz " deposits in Cameroon.

Not even looked looked at LITHIUM found in Cameroon which is brand New GOLD DISTRICT.

Reawards are coming. Just sit tight and watch this fly. GLA holders.

Further updates from Bibemi and CLP to come.

Bakassi-1 (Bibemi)
first reported JORC 305,000 oz @ 2.19 g/t with mineralisation still open at depth. Another 105,000 oz to be added.

Other 3 zones still to come. Mineralisation spread along a 12km strike with all zones within a km of each other.

Central License updates to come through.

Results of 495 samples from previous field season to also come through anytme.

Current MCap is ultra low. That can all change to the upside in a flash with the incoming News.

https://www.mining.com/web/huge-gold-stock-upleg-likely/

Author: Adam Hamilton

This guy is very good and makes good calls backed by top analysis. I like hm. We could very soon see a strong bull run on Gold juniors similar to the 2020-21 run.

https://www.mining.com/web/gold-price-has-the-potential-to-hit-3000-or-4000-an-ounce-in-2023/

MCap here back in Feb 2021 got to around £35m (1.94 pence) on lot of excitement ( if i remember correctly) when Oriole had just entered Cameroon.

Fast forward to Jan 2023...we come a long way and reported first ever JORC resource out of Cameroon (Bibemi) with lot more to come as they work through other 3 zones in addition to Bakassi-1 which is still OPEN at depth and along strike.

CLP licence (central Cameroon) is a monster with multiple few Km long mineralisation strikes. ORR made lot of progress there with updates to come also.

Bibemi sits to the north of CLP - Central License.
Similar Gold anomalism observed in both licences. Company strongly believes we potentially sitting on many "Multi-million Oz" deposits in Cameroon which has been hidden all these years and now emerging as a Brand NEW GOLD DISTRICT with Oriole sitting on PRIME Real Estate already ready to Welcome the BIG MAJORS with Open arms :-)

This can easily get to £40m - £50m MCap in my opinion by end of Q1 or earlier as results start coming in and suddenly the wider market piles in here.

Current MCap of c £4m is ridiculously low given what Oriole has already reported as first JORC.

Good presentation.

First JORC resource from Bibemi of 305,000 with another 148,000 to be added.

Multiple "Multi-million Oz" deposits in the making with longest Gold mineralisation strike at 12.5km × 3km in addition to many 3km × 5km strike lengths at Cameroon.

Fully funded for 2023 programme.

Senala 49% stake worth many Millions.
Wonder how much Managem paying to IAMGOLD for their 51% Senala earned in option as part of the overall $282 million Total price tag for all Africa assets they buying from IAMGOLD.

Current price is a steal.
MCap should be many Multiples of current £4m.

Yes it should pick up any new variant. GDR made it clear at the time. Think it was in one of the RNS.

Thats the beauty of GDR kits. We will soon have our day. Moves quick this one when on the move, i remember when it jumped from 30 to 80p in just few days around the time of Beckman Coulter deal.

Also waiting for lab results of 495 samples from Bibemi also.

Directors seem confident and happy to accumulate Shares instead of salaries.

FDA update must be very close now.

I would expect this to do +200% rise or more from current lows on FDA approval RNS.

Lovely buying opportunity ahead of FDA news.
Imho.

Europe considering Airport tests for all Chinese travellers coming in to Europe.

GDR kits now give even quicker results than before.

Says 2 RNS at the top but can only see 1 RNS ?

Directors taking more shares in lieu of salaries.
Increased their holdings.

Now hold 4.22%

US FDA PRE-SUB for the Genedrive MT-RNR1

First meeting with the FDA was scheduled for December, 2022. So news could land anytime.

Absolutely. We all would love these kind of gains. GENI up almost +164% today on US approval.

Probably thats where the traders moved to for a fast buck after we touched 13.50 pence here in the morning.

You just dont know when that kind of news lands here. Do not want to be out when that RNS lands.

Agree. You dont want to be out when NICE news lands coz you wont be able to buy any decent Qty at these low prices.

52 week high 47 pence could be retested IMO.