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MSTR now has a market cap of $29.4M, yet its crypto HODL of 205K BTC is only worth $14.8B, so it's at 2.0x HODL, whilst KR1 is only about 0.75x HODL. Ridiculous. 2.75x cheaper than MSTR and with more highly geared assets.
Just noticed MSTR is up 20% today. Before the recent listing of BTC ETFs in the US, MSTR traded at a premium to its BTC holdings, which could be justified to some degree as it was the go to proxy for US equity market exposure to BTC.
Following the listing of the ETFs, which are highly liquid and closely track the value of their BTC holding, there is no longer a case for MSTR to trade at much if any premium at all. However, MSTR has gone vertical since the ETF listings and is now at a whopping 43% premium. I have plenty of exposure through DAGB, but honestly, it's seems ridiculous. Can investors not do even the simplest of valuations? They'd get far more bang for their buck buying one of the ETFs, never mind a crypto baskets at a deep discount like KR1. But, who cares. The're piling in regardless.
There seems to be switching from other crypto related companies, particularly miners, to MSTR, which is stifling their progress. My guess is Saylor is about to do a huge placing at MSTR into this rise and will use the proceeds to buy loads more BTC, which should turbo charge the bull market, so the current outpeformance of MSTR may be a blessing in disguise for the whole sector.
Anyone have a different take on MSTR, that might explain what is going on?
Just noticed MSTR is up 20% today. Before the recent listing of BTC ETFs in the US, MSTR traded at a premium to its BTC holdings, which could be justified to some degree as it was the go to proxy for US equity market exposure to BTC.
Following the listing of the ETFs, which are highly liquid and closely track the value of their BTC holding, there is no longer a case for MSTR to trade at much if any premium at all. However, MSTR has gone vertical since the ETF listings and is now at a whopping 43% premium. I have plenty of exposure through DAGB, but honestly, it's seems ridiculous. Can investors not do even the simplest of valuations? They'd get far more bang for their buck buying one of the ETFs, never mind a crypto baskets at a deep discount like KR1. But, who cares. The're piling in regardless.
There seems to be switching from other crypto related companies, particularly miners, to MSTR, which is stifling their progress. My guess is Saylor is about to do a huge placing at MSTR into this rise and will use the proceeds to buy loads more BTC, which should turbo charge the bull market, so the current outpeformance of MSTR may be a blessing in disguise for the whole sector.
Anyone have a different take on MSTR, that might explain what is going on?
I can see FOAM on the cointracker portolio says plus 700%+ over 24 hours, but could it just be a data glitch? The same website is showing the current price as almost flat and other sites are showing it's actually down on the day.
https://cointracking.info/coin_charts.php?cur=FOAM
https://www.coingecko.com/en/coins/foam
Sometimes there is more that one project that uses the same ticker, but I don't think that's the case here. I tend to use coinmarketcap for pricing, but they don't show prices for this one. Not sure why.
Some extremely interesting crypto market activity since the ETFs started trading yesterday. As BTC price gets squished the money in the actual crypto space seems to be flowing straight into ETH and the alts. Bitcoin dominance metric moving lower. It's as if attempts to diminish the fiat value of crypto by pushing BTC lower using the ETFs is having little effect as the other cryptos are just moving up to neutralize the effect.
Indeed. ETH just hit highest since May 2022. Good sign for alts.
Checking coingecko.com I can see that LDO goes back further than I thought so today's peak is not the ATH. Looks like that was in 2021 at $6.36. Nonetheless, our LDO position is starting to look very interesting. GLA
And LDO just hit an ATH of $4 on Coinbase, which equates to $51.6M for our 12.9M holding.
If some of these public portfolio trackers are so out of whack, it's not surprising the SP doesn't respond when the NAV roofs it. It went over 118p this morning by my calcs. Can anyone confirm?
The number of TIA looks correct, but the price is not. Your link has it listed at £11.16, but it's £12.65 right now.
Quoted coin NAV per share looks around 115p this morning, so plenty of running room even without continuation of the overnight crypto breakout. Well done all.
No probs ... unless you panic dumped of course.
That's old FUD from June.
If a few punters jump into a highly illiquid stock like WTE on some random RNS the SP will react, even if the news is a complete non story. Today's RNS is of very little importance to Westmount. Not only was this transaction announced to the market many months ago, WTE's stake in ARG was worth a pitiful £3,500 on delisting the other week. WTE still has limited exposure to ARG's falklands licence through its take in JHI, but the licence is very early stage with ARG having never even drilled it.
All the value drivers for WTE will come from elsewhere. The Orinduik and Venus licences are of limited impact for WTE given its limited exposure to them. Gearing to Kaieteur drilling is better, but it will take a drilling announcement for the Canje block for WTE to see any real traction, and that appears to still be some way off.
Https://oilnow.gy/featured/ali-jagdeo-see-guyana-oil-bid-responses-as-favourable-given-governments-terms/
Starred blocks on this map appear to be the 8 that have been bid for, including all areas directly adjacent up dip of Orinduik as you say Harel. That's a very good sign.
Https://oilnow.gy/featured/six-groups-submit-bids-as-guyana-closes-first-ever-offshore-licensing-round/
Looks like our Orinduik partners TotalEnergies and Qatar Energy want more exposure as do all three Stabroek participants, ExxonMobil, Hess, and CNOOC. Surely a slice of our 75% of Orinduik has to be in their sights. Only a few weeks until results are announced. Expecting big changes here shortly. GLA
Https://oilnow.gy/news/tullow-gets-key-nod-to-exit-orinduik-but-might-remain-on-kanuku-license/
I think people are looking at the wrong candidates. Firstly, Repsol is clearly still interested in acreage south of Stabroek, having applied to renew their Kanuku block which expired in May. They were the joint biggest holder together with Tullow on 37.5% each. Tullow has also walked away from that licence. Light oil was discovered on Kanuku in the Cretaceous updip of Orinduik at Carapa back in 2019, so if Repsol is interested in the Kanuku acreage, I think it highly likely they will also be interested in Orinduik, where the Cretaeous targets are much further down dip and closer to the 32 discoveries on Stabroek.
https://oilnow.gy/featured/with-time-ran-out-reaoipsol-asks-guyana-for-brand-new-license-for-kanuku-block/
Secondly, Africa Oil is ECO's major shareholder and they are currently waiting for flow results from their Venus mega discovery. Their shares are doing extremely well and they would have no trouble funding a campaign on Orinduik in return for a direct interest, say 50% for AOI in return for a two well carry for ECO. Africa Oil has long been very interested in Orinduik and given there is now less than two years until Orinduik expires, I expect them to move swiftly to drill the Cretacous so they have time to follow up and drill all the main Cretacous targets in a success case.
Thirdly, on Stabroek exploration drilling is getting closer and closer to Orinduik. Fangtooth and Lancetfish have been the closest Cretacous discoveries so far at around 8 miles away. Basher and Lanternfish are up next and are closer still. It is a logical progression that our acreage would be of interest to Hess, Exxon or CNOOC. See p11.
https://investors.hess.com/static-files/cd1529dc-ddd7-41b4-8c08-07f973fe8ceb?_ga=2.268592051.316700429.1693497609-651247394.1688036372
Lastly, Guyana is currently holding a bid round for 14 new offshore blocks. 11 of these are significantly up dip of Orinduik and the other three are out beyond Canje on the far side of Stabroek. Bids have to be made within the next two weeks and companies will know their fate by the end of October. Of all the acreage up for grabs, none of it is as close to the action as the 75% which ECO is looking to farm down on Orinduik. If any company is interested in bidding for Guyana acreage, I am sure they will be interested in making Gil an offer.
I will be very surprised if Gil does not strike a definitive deal for Orinduik within the next 2-3 months with drilling to commence 2024 Q1/Q2. Huge resources on trend with 32 Stabroek discoveries right next door. All to play for.
GLA
As at 2022-12-31, current assets (£284,135) minus current liabilities (£1,421,059) minus 7 months admin (£1,694,576 / 12 x 7) + placing less 10% cost (£500,000 - £50,000) = minus £1.675M.
https://www.londonstockexchange.com/news-article/ORCA/results-for-the-half-year-ended-31-december-2022/15896954