Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ARB/14527904.html
A shareholder should notify the company in which he holds share in the following instances...
DTR 5.1.2 R 26/11/2015 RP
A person must notify the issuer of the percentage of its voting rights he holds as share-holder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within DTR 5.3.1R (1) (or a combination of such holdings) if the per-centage of those voting rights:
1. (1)
reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acqui-sition or disposal of shares or financial instruments falling within DTR 5.3.1 R; or
2. (2)
reaches, exceeds or falls below an applicable threshold in (1) as a result of events changing the breakdown of voting rights and on the basis of information disclosed by the issuer in accordance with DTR 5.6.1 Rand DTR 5.6.1A R;
and in the case of an issuer which is not incorporated in an EEA State a notification un-der (2) must be made on the basis of equivalent events and disclosed information.
Hi Sausage-dog. This selling is the great mystery of ARB. It has been going on for 6 months at least. Millions and millions sold. I wrote to ARB about it a few weeks ago asking about the lack of TR1s...
On Thu, Mar 5, 2020 at 6:10 AM Argo Blockchain
From: Nicholas
Subject: Significant Shareholders
Message Body
Hi.
As a keen Argo shareholder I have, like many others, noticed a very significant number of apparently co-ordinated selling transactions in the shares of the company over recent months. Other than the transfer of stock from Durban to 1219626 BC reported on 3 February 2020 there has been no indication of any change in the holdings of significant shareholders.
Are you able to formally remind significant shareholders of their obligations to file updates relating to the size of their holdings on a regular basis when various thresholds are crossed?
Many thanks and best regards
ARB replied within the day as follows...
Dear Nicholas,
Thank you for your message.
All companies listed on the London Stock Exchange are reliant on existing and new shareholders providing the company with a TR1 when it exceeds 3% of the Company’s issued share capital or when it then exceeds or falls below certain limits. Once a company is in receipt of a TR1 it is duty-bound to announce it to the Market. To date, all of our Significant Shareholders have at some stage provided Argo with a TR1 or equivalent and we have to believe that they remain aware of their obligations. However, it is, of course, possible that they have not complied with this requirement but they would face serious consequences if this were the case and it is difficult to believe that some of the institutional investors, in particular, would risk this position.
Brokers are of course a good source of information for any large trades and our share register is checked regularly although Nominee holdings often mask such dealings. To date we have no reason to believe anyone is failing to provide us with a TR1 when appropriate.
We will, of course, continue to monitor any large trades.
Best,
The Argo Team
https://bitinfocharts.com/comparison/bitcoin%20cash-hashrate.html#3m
My estimate for March revenue - £1,872,000.
Difficulty fell by 15% but only by 26 March. From 9 March to 26 March difficulty was higher than February so I expect average difficulty for March to be similar to that of February. If February generated 337 bitcoin with a couple of additional days I'd expect about 360 coins mined in March. At average March price of $6500 per coin that would be $2,340,000 or at average monthly exchange rate (1.25$ the £) £1,872,000.
Difficulty is adjusted every 14 days approximately. At the moment it looks like it will be reduced by 10% at the next adjustment scheduled for 24/25 March. Meanwhile the hash rate has fallen from an average of around 110EH/s during February to 95EH/s as of today. Both moves will result in ARB mining more Bitcoin this month for the same electricity costs as February.
Yes. Don't rely on London South East for a full list of RNSs. Some they record, some they don't. The London Stock Exchange website is your best source...
https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BZ15CS02GBGBXSSQ3.html?lang=en
DTR 5.1.2 R 26/11/2015 RP
Aperson must notify the issuer of the percentage of its voting rights he holds as share-holder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within DTR 5.3.1R (1) (or a combination of such holdings) if the per-centage of those voting rights:
1. (1)
reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acqui-sition or disposal of shares or financial instruments falling within DTR 5.3.1 R; or
2. (2)
reaches, exceeds or falls below an applicable threshold in (1) as a result of events changing the breakdown of voting rights and on the basis of information disclosed by the issuer in accordance with DTR 5.6.1 Rand DTR 5.6.1A R;
and in the case of an issuer which is not incorporated in an EEA State a notification un-der (2) must be made on the basis of equivalent events and disclosed information.
[Note: articles 9(1), 9(2), 13(1) and 13a(1) of the TD]
The market seems to find it tricky to value this company. That said, the rising hash rate over the last four months has also been a major drag. At the end of July the hash rate was 60 EH/s. It peaked a few days ago at 110 EH/s. So with the same processing capacity we would be generating almost half the coins we were in July. Of course we have increased our processing capacity from 150PH in July to 371PH at the end of last week with the installation of the latest batch of computers. I think we are probably now generating about 245 BTC per month at this level (we generated 163 BTC in July according to the RNS). At the current BTC price that would generate about £1.6M per month.
When the next batch are installed by the end of March our processing power will rise to 640PH. On that basis and assuming the current hash rate, in April we could be mining around 425 BTC per month which would equate to a revenue of £2.8M per month. Of course after halving in May this figure would be divided by 2 but, as many expect, the price of BTC could be far higher at that time.
This is a really exciting company. I think it will reward the patient investor handsomely.
Rating Action: Moody's assigns first-time Ba3 corporate family rating to Burford Capital Limited; outlook is positive
30 Oct 2019
New York, October 30, 2019 -- Moody's Investors Service ("Moody's") assigned a Ba3 corporate family rating to Burford Capital Limited ("Burford") and Ba3 ratings to the senior unsecured debt issued by subsidiaries Burford Capital Finance LLC and Burford Capital PLC. The rating outlook is positive. This is Moody's initial rating of Burford and its subsidiaries.
Assignments:
..Issuer: Burford Capital Finance LLC
.... Backed Senior Unsecured Regular Bond/Debenture, Assigned Ba3
..Issuer: Burford Capital Limited
.... Corporate Family Rating, Assigned Ba3
..Issuer: Burford Capital PLC
.... Backed Senior Unsecured Regular Bond/Debenture, Assigned Ba3
Outlook Actions:
..Issuer: Burford Capital Limited
....Outlook, Assigned Positive
..Issuer: Burford Capital Finance LLC
....Outlook, Assigned Positive
..Issuer: Burford Capital PLC
....Outlook, Assigned Positive
The assignment of a Ba3 corporate family rating reflects Burford's superior profitability, low leverage and strong liquidity position. The rating also takes into consideration the firm's high asset risk characteristics that could increase asset and earnings volatility, high growth, a less developed debt funding structure compared to many finance companies, and high expected investor confidence sensitivity associated with the company's specialized and opaque investment processes.
Burford's profitability, measured as net income to average managed assets, has ranged from 11% to 20% since 2016, a much higher level than the profitability of other rated specialty finance companies. Burford's strong competitive positioning in the litigation finance sector strengthens its business proposition in terms of the array of its product offerings, breadth of coverage, and access to information and potential clients, all of which support strong prospects for future profitability. Burford's experienced leadership and legal staff are also operating and underwriting strengths.
Burford maintains a strong capital position to buffer asset and earnings volatility that stems from its litigation investments. The company's ratio of tangible common equity to tangible managed assets was 60% at 30 June 2019, well above the average for other specialty finance subsectors. By maintaining high cash balances, employing low leverage and effectively laddering debt maturities, Burford also maintains a strong liquidity profile. Through its fund management strategies, Burford has expanded its access to capital to take advantage of scale opportunities while also diversifying its income sources and moderating earnings volatility.
I've not included the gas revenue, which is not that much but would go some way to offset state taxes.
Oil production from the 8 wells was reported as being 2,700 Bopd in the RNS of 9 May. So assuming an oil price of USD 60 per barrel, HNR should be due approximately USD 364,500 per month.
(2,700* USD60 = USD162,000/day * 7.5% = USD12,150 * 30 days = USD 364,500)
I’m pretty sure they are all buys.