Member Info for Phoebus

The solar business is putting me off adding at the moment. The current net asset position looks to be around £10.7M and after the solar loan that leaves around £6.5M. Moreover, the pipeline of projects for the solar business will require funding if they get the go ahead and given they look much bigger than the first project will likely require much more than the $6M ECO has provided so far. I realise ECO has said these projects will be funded through the subsidiary, but with 70% of the business owned by ECO I worry that ECO shareholders will be stumping up extra cash or indirectly taking on more debt to pay for it all. Even if no more cash is required form this quarter, £6.5M is a measly sum to be going into a 2 well drilling campaign. Sort out these issues and I'd be much more inclined to add, but as it is I'm worried about a discounted placing.

Strong demand from MMs. Can sell 250K in one go.

ETH also starting to dip below Wednesday's crash lows. Nearly 60% off it's May 12 high.

ETH also starting to dip below Wednesday's crash lows. Nearly 60% off it's May 12 high.

To call a 50%+ drop in an asset a fake out is ridiculous. It's a massive and very real drop which ever way you look at it.

79p looks correct. The speed of the fall here is indeed shocking and it does look like this bull cycle could already be over. The fact that loads of shytcoins with swear word names including some newcomers roofed it 100x plus over the last few weeks was probably the key warning sign of the blow off top. Lamentable to think that utter garbage like that made life changing increases for some in next to no time whilst DOT went sideways for several months and KR1 was lower than in Feb. I wonder why I bother to do proper investment research sometimes. Sigh.

Even when the gold miners are using Elon's new Tesla eTrommels and eTrucks?

'... in principle ARB should be ... a hedge against the worst of the downside ...'

I disagree. While the relationship is often a bit skewed short term, miners move in a geared fashion to the price of BTC both on the way up and on the way down. If BTC were to plunge back into a bear market it's almost certain that ARB and every other crypto miner would be obliterated for an extended period regardless of any operational improvements. With all miners expanding, the overall hash rate increasing and BTC difficulty getting steeper, miners need to spend loads of cash on expansion just to stand still, so by the time of the next bull run much of their operational gains will have been eroded and will have done little to underpin the SP.

Take a look at a 5 year monthly candle chart of RIOT, a miner which has been around since before the last bull run. You can see that despite a huge surge in 2017 it lost roughly 99% in the couple of years following the peak. Note also the striking similarity between their current SP action and that of 2017/18.

https://finance.yahoo.com/chart/RIOT?p=RIOT

If we go up again from here then miners like ARB will be a great place to be invested. However, in a bear market I'm pretty certain the best place to be will not be mining stocks but in cash. GLA

Can't believe someone actually paid 180p on OTC today with the NAV cratering again. What were they thinking? NAV hit roughly 95p a few minutes ago, but has now bounced back to 105p. GLA

Sudden $2K rise. Did coal boy tweet again?

BTC trades on many exchanges though and the overall picture may be very different indeed.

The two markets open and close at different times so the change is based on different starting prices. Comparing the current prices in sterling is the way to go.

Windows, Crypto Zombie is usually quite helpful. Latest video just released.
https://www.youtube.com/watch?v=JOz_276zd8c

Gold and particularly silver in down also. Perhaps a deliberate take down of inflation canaries to allay stagflation panic after red hot PMI figures released a few minutes earlier. Nothing more than temporary inflation to see here apparently. Move along.

Everup, that's called talking your own book. They may be right, but we still need to think for ourselves.

Everup, that's called talking your own book. They may be right, but we still need to think for ourselves.

I think that was already known, so it's not that IMO.

Don't forget that BTC futures expiry is next week so further downside is a distinct possibility though not definite.

I'm guessing you're still including the Lolmschizz phantom BTC holding. Based on data from the RNS statements and excluding any staking revenues NAV was around 129p at 18:48 and is currently around 124p so thankfully it's bounced nicely off the 90p level it hit earlier. Astonishing to think it was around 215p on Friday as ICP launched as one of the biggest cryptos by market cap and DOT hit all time highs. Volatile is an understatement. Hope everyone is OK.

Not according to KR1's RNS statements it isn't.