Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It is on the investormeetcompany.com platform now
Appreciate your frustration but you answered you question in your last post where you said
"I don't know what the management are supposed to do other than get us a listing in the US, which I have heard would be prohibitively expensive given the tiny MCAP."
I have to agree it would be expensive and a distraction. Please be patient.
Just to let everyone know I received a reply from the company with regards my request for them to facilitate a virtual AGM using software such as via https://investormeetcompany.com/ (see my post from Saturday). There is a number of things I can draw from this interaction.
1. They were prompt in their reply (email sent on Saturday and their response sent today)
2. Given the AGM is this week is on the 25th of June, if I am being honest, I didn't expect them to arrange a virtual access in the limited time and also brief to shareholders. Just kicking myself, I hadn't thought of it earlier this month.
3. The company are correct in saying since the new management team have arrived that comms have improved dramatically. The step change is the monthly reporting which provides transparency on how the company is doing. How many other companies provide this level of reporting? This reporting has given me the confidence to average down based on the real information and not get caught in the negative sentiment which sometimes makes you make rash impulse decisions to sell. Sometimes you are better not looking at a share price several times a day. If you are confident in your judgement, it is best to avoid bulletin boards where people get frustrated and continually vent. This is fuelled by a few traders who have their own selfish motives.
4. The share price is not where it should be and I like numerous others am frustrated by this. It is easy to take out the frustration on directors, yes they could do more. Hence, it will be interesting to see how they address the questions sent to them. I suggest that rather than venting send in your question to the board and judge them by their response and subsequent actions. Anyway in the interest in sharing, here is their reply
"At this late stage, the company will not be hosting a virtual AGM. With the current COVID-19 restrictions and guidelines, the company has prioritised the timeliness of the AGM, instead of delaying the meeting as some other small-cap companies have. In these unprecedented times, this has lead to a closed meeting. The company recognises its responsibility for shareholder communication, and will be answering questions from investors (submitted via investorquestions@argoblockchain.com) on our website (www.argoblockchain.com).
Regarding shareholder communications: the Argo management team has increased RNSs and press releases since the start of the year, as part of their drive for increased transparency and communication. Going forward, the company look to add to this through operational updates, digital media content, press releases, public relations, and virtual meetings with shareholders. Thank you for your suggestion of investormeetcompany.com, this will be considered as part of the company’s ongoing communications initiative."
spitfire - looking at you posting history on ARB you either a bad trader or have a split personality.
Noticed you went from an average of 6.67 in 27/7/19 to an average of under 4p on 20/5/20
A selection of your posts - anything after the 17/6 is negative.
17/6/20
like I aid earlier this is like a back room boiler stock ! to all the people who keep ,ramping . this stock on here STOP IT you are making yourself look silly or like you've got motives !!!! this share is going nowhere until the BODS start # doing something to prove their belief in the company and to also start promoting this stock in a better manner to get more interest from investors!!!! BTC price is irrelevant to this price !!!! I doesn't make a fig of difference if BTC goes up or down this stock is only on one trajection and that is DOWN unless the BODS pull their fingers out the rear ends !!!!
4/6/20
BEEN HERE FOR OVER 9 MONTHS NOW AND IM BEGINNING TO THINK THAT THIS STOCK IS SOME SORT OF BOILER ROOM SCAM !!! THINGS DO NOT ADD UP OR SEEM RIGHT HERE !
20/5/20
IBEEN IN HERE A WHILE NOW WITH AN AVERAGE OF JUST UNDER 4P ...THESE PIDDLY 1 AND 2% RISES THAT KEEP OCCURING HERE ARE VERY STRANGE MOVEMENTS IN MY OPINION AND I'M SERIOUSLY CONSIDERING CONTACT THE FSA ABOUT THESE SUSPECT IRREGULAR SHARE PRICE MOVEMENTS !!!!! NOT A HAPPY BUNNT AT THE MO......GLA
14/5/20
come on ARB FFS !! BTC @ 9500 !
23/4/20
when news drops here its gonna FLYYYYYYYYYYYYYYYYYYYYYY …. investors are going to realise what a bargain this is !
27/7/19
it cant that's when you will see it take off..this stock is off the radar at the mo....remember its not the company it was a few months back as now its mining 100% for itself so all btc,s found goes in the coffers..direct btc play the market just hasn't woke up yet,,still cautious about the us decision making on btc...getting in now means getting in early yes more risk but buying at the bottom anything under 10p imo is dirt cheap it trades on a pe of I think 1 which is ridiculous imo but I could be corrected
22/7/19
people need to remember on here that this stock is basically a 2 way play either btc is killed off by the fed and we lose the lot or btc is accepted as a viable alternative to cash and it goes stratospheric to the moon …...if we knew the answer to that we would all put our houses cars clothes and life savings in it …………...dyor. im a believer in btc and digital currencies , they have been around to long know ..if they was going to die I think it would of happened a long time ago.the world is changing rapidly with tech ….
22/7/19
just keep topping up bit by bit ….average of 6.67 here so not underwater yet will keep adding in tranches.....news updates should be coming soon and some more predictions of btc rebounding back up to the 11000 mark .bitcoin halving coming in near future which should give btc a catapult …..all looking good imo …...
22/7/19
my buy showing as sell lol just keep topping up gla
Great find occams Just confirms what I mentioned earlier. BTC iis now more mainstream within the investment community. If more and more start holding it as a hedge against money printing the scarcity value of BTC will drive the price up, attract others and great a self fulfilling feedback loop that hopefully will see a steady rise in price
Yes, I have a serious position here although still 25% underwater despite averaging down.
However, I believe ARB will come good for a number of reasons - Firstly, I see BTC rising and ARB will rise with it.
With this endless money printing, BTC is seen as a hedge and is already been offered as part of portfolios diversification to institutions ( and maybe high net worth individual) by mainstream providers like Fidelity see https://www.fidelitydigitalassets.com/overview
Secondly, even at the current BTC, ARB is on a ridiculous low rating while it makes money month on month.
Lastly, the recently selling of ARB has drove the price down to these insane levels and sentiment is at an all time low. Once sentiment changes we will get a significant re-rate and combined with a growing BTC price we could be many multiples of the current share price sooner than most people think. Good luck all. DYOR as this is just one opinion
Keep the faith, apparently The famous Bitcoin dog pattern is extremely bullish.
A rising BTC price will bring fresh investors to the value in ARB
see
https://twitter.com/sharetell/status/1273253931267866634
My first instinct when I read the results yesterday was to top up. However, psychologically I found it difficult as I had first bought a year ago in my SIPP at just under 80p. This swayed me even though my analysis told me it was good value still, a safe bet in the current climate, plus a great income and growth play and would rise further.
Now killing myself I didn't buy more but lesson learnt for the future.
Wmsjames I was trying to be conservative and not accused of ramping so in my model reduced the central admin cost to £3m compared to last year £3.89m giving an earning before tax of 1.51p
If I use your figure of £2.4m the flow through to the bottom line rises to earnings before tax of 1.71p. Note given the existing losses in previous years of nearly £5m (matches my estimate of pretax profit of £5m this year) I am assuming there will be little tax to be paid this year so post tax should be around 1.71p.
Even more insanely cheap and if I had any spare cash I would top up again.
Didn't hold so no cigar.
However, it's just a matter of time.
Just checked and if central admin overheads and one offs are reduced from last years £3.89m to £3m (possible as one off £236k to senior management loss of office, foreign exchange loss of £400k were unusually high (£152k previous year) and Legal fees of £600k must have room to be trimmed), this gives earning of 1.5p and a PE of 3. Plus if the price of BTC coin heads past $10k, this makes it even more ludicrously cheap.
Wmjames given the current BTC price, I estimate the June turnover to be £1.74m and a gross profit of £0.59m and a net profit of £0.26m. This net profit assumes the large central costs and one offs from last year so could be a significant underestimation.
This is insanely undervalued and I am glad I topped up earlier this week at just over 4p. I can see it double easily from here especially with a rising BTC price
Idiot441 - I agree 100% - given cost and management distraction of dual listing I would also prefer the money to go into a divi
Secondly, given the cash generation capabilities of ARB, I would prefer a divi to share buy backs
Not sure I can agree with a PE of 1.25; how was this calculated?
For the current calendar year, I estimate ARB will have a turnover of £21.38m with gross profits of £7.27m using a gross rate of 34% (BTC at $9300 ). Using an estimate of admin interest etc of £4m gives a net profit of £3.27m and earnings of 1.11p so roughly on a PE of 4. Even on an undemanding PE of 8 this should be double the current price. Looks like a bargain to me so I have topped up yet again. If BTC takes off the rating is even more ridiculously cheap. Anyway the seller has provided this opportunity for those that have the strength of their convictions and have done their research.
Got the email from Primary Bid about this offer and was still doing research into the company when I noticed that the Primary bid offer had closed (fortunately I checked before I had wasted too much time). The fact that it is EIS eligible will make it attractive and attract some sticky holder whose downside will be protected and will have unlimited upside. Hence, this should be a good outcome for existing holders. Anyway, good luck to all holders
They will have to issue 4 times the number of existing shares to raise the £12m which by coincidence is the current market cap.
Therefore in theory the share price should be 0.4p if the full amount is raised. However, even if starts off at 0.4p some taking part in the placing may sell for a quick buck so it could drift lower. However, to me it seems low risk taking part in the placing and I have put in for a small amount.
Adam Norris is a multi-millionaire former Hargreaves Lansdown director and investor.
see https://www.horatioinvestments.com/adam-norris/ for his bio
Why is he selling. No idea but my feeling is that until recently Braveheart was a very illiquid share and it would have been impossible for him to sell down his share without trashing the share price. The two placings and recently speculation surrounding Braveheart have provided much need liquidity and Norris is using this to exit his investment.
Totally out of sync with rising BTC price.
After heavy investment, even with the halving it should churn out at least £18m or £19m turnover. Earnings should be at least 2p or 3p per share depending on additional hardware purchases. On a forward PE of 2, I had to add more at the close yesterday. The persistent sellers have kept a lid on the share price but once they are gone this should fly. Patience needed as easy to get frustrated
Is there a telegram group for Open Orphan. If there is, could someone send me the link.
Thanks