Member Info for Phoebus

Dotty surging right now.

That tells you more about 88E. I re-read all of the recent RNS statements related to Merlin this morning. P50 recoverable net to 88E after 50% reduction is only 135 MMB so at today's high buyer were paying $4.70/BOE unrisked or $12.70/BOE risked for Merlin which is ludicrous. Even if it is a discovery the market cap still looks punchy and considering no discovery has actually been indicated as yet, it looks ridiculous. Oil shows, a bit of fluorescence and the word encouraging is not worth half a billion quid. I think the market has got way out over its skis on 88E and unless Merlin is anything other than another failure in a long line of drilling disappointments at 88E, people are going to lose a fortune over there. Not worth the risk IMO.

He's a big investor so if he's sold then an overhang is gone. Stock to flow suggests BTC $100K some time in Q3/Q4 and when BTC breaks higher investors will flood into the tiny handful of UK listed stocks in the sector and I'm sure this will rocket. We have a four day Easter bank holiday starting this Thursday evening and I will not be surprised to see BTC fireworks as per over Christmas and again over New Year. 111.5 hours with the LSE closed and BTC continuing to trade near ATH break out. This and other crypto stocks could be a lot higher by next Tuesday. GLA

Agreed, but market cap is now £23.1M and net current assets looks to be around minus £1.6M.

I also like ACP but checking the balance sheet I notice that net current assets should currently be around minus £383K before any operational costs for the last 9 months. I know they have had multiple approaches regarding funding for Mahenge, but given the negative net current asset position I do wonder about the likelihood of a placing. If we add on 12 months admin costs and 1M for operations that gives about £1.75M. I imagine they would have a stronger negotiating position on financing if they were in a stronger financial position, however they may wait to raise till after the mining license is granted or perhaps financing is closer than we realise and a placing is not be required. What are people's thoughts?

Very positive. Bitcoin is surging again and looks on the verge of hitting $60K. I think CLP are holding back on mining news flow until BTC breaks out again and cryptos and mining stocks really start to surge. In that way they will get biggest share price bang for their mining RNS buck. BTC looks like it may breakout again very soon and I expect CLP will move up extremely quickly on big volume as before when it does. Can't wait. :D

Derbyday, both sectors are definitely worth looking at IMO.

The balance sheet is a train wreck through. Check it out.

I disagree on the GGP comparison. GGP is a gold exploration company and gold has been declining significantly for nearly 8 months causing significant retrenchment right across the sector. ARB is a crypto miner and driven primarily by BTC which is in a bull market and very close to all time highs. Crypto miners are just having a breather as BTC to finishes its 5.5 week consolidation. I expect the crypto bull market to continue to at least Q3/Q4 this year if not longer given accelerating mainstream adoption and for associated stocks to continue to outperform significantly. Gold stocks on the other hand will not see any meaningful gains until downward pressure on the metal's price relents and there is no sign of that as yet. Even gold miners with significant company specific news will likely struggle as investors take profits and reallocate to alternative sectors.

On a company specific level GGP was already light years ahead of other gold explorers in terms of market cap, has no revenues and results at Scallywag were disappointing. ARB is significantly below sector leaders in terms of market cap, has huge revenues and goes from strength to strength with continued expansion. Do I dislike GGP? No. The Havieron asset is a winner, but like anything, there is a right time and a wrong time to be invested and right now crypto and not gold is the place to be IMO.

Just as on Friday we got a quick BTC shakeout in the last 30 minutes of the European equity session. Looks like they tried to encourage weak hands to dump their crypto stocks as BTC marches higher. Be right, sit tight. GLA

Chin up folks. This is all standard operating procedure. The miners are like a pendulum swung around by the hand of Bitcoin, overshooting on the upside and the downside. BTC has been consolidating for about 6 weeks and right now the miners are waiting for a more decisive indication that BTC is making the next leg higher. As BTC continues to rise, the elastic band will get stretched and then all of a sudden the miners will rocket higher making up all their lost ground and then some. This is the the quiet before the storm. Stock to flow indicates $100K in Q3/Q4. Can't wait.

I'm surprised too. Cryptos are doing very well today and BTC has broken the down move since the last ATH. I think the next leg across the sector has already begun. COIN has already responded and KR1 and ARB should move soon enough.

The last move up in COIN was the first since most investors started to learn of something called NFTs. This will now be on a lot of people's radar and this drop is their first chance to get in. Given the tsunami of interest around NFTs and the fact that cryptos are once again starting to break to the upside, I expect the upside here to be rapid and explosive. GLA

BTC broken the down channel since the ATH. Added a few here this morning. GLA

BTC is still consolidating and miners are waiting until there is a more decisive move. Once that happens the miners should catch up very quickly indeed.

I would not be surprised to see this hit £8 this year if BTC hits $100K and perhaps higher if NASDAQ tractor beam goes full throttle.

Looking forward to some weekend tweets.

Not to worry. The Argo chat board will be just like its mining operations ... green.

https://www.zerohedge.com/markets/nomura-brace-flurry-stock-buying-march-29-heres-why

Albert, I think you're the biggest hitter on this board. Seem to remember you've sold a proportion of your whopping holding at various prices but still have a big chunk so I take it seriously if you're buying back 100K. Consolidation is always a fun ride with a large holding. All the best for Q3/Q4.