The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Does anyone know when interim full year results are due?
Price is continuing to drop but volume is so low I don’t think you can read much into it.
To my mind it all depends on whether they deliver the sponsorship deals that have been alluded to. Team performance has not been bad just need to grow the number of deals. They keep being promised but unfortunately not yet delivered.
My view is that this is definitely a tech company licensing out it’s products. It may have a mining division but why get into an arms race that requires you to buy more and more miners just to stand still when you can be involved in the sale of miners.
The last week has been great, I've lost a chunk of gains today but still over £6k up on the week. However, this doesn't look good at the minute and given that the rise was based on no new news I can see this re-visiting sub 2p especially given the obvious need for some form of funding in the next few months (unless they sign some form of licencing deal but I suspect we are abit early for that)
This could go both ways but to my mind if the team is as good and incentivised as they seem to be there’s a better than even chance of progress. Change in crypto will be very fast and it’s very dynamic with everyone looking to mine as much as possible before the next halving of Bitcoin. QBT have stressed intellectual intensity rather than capital intensity which to me either indicates a licensing of their technology or selling themselves to a hardware manufacturer/miner. I do not see them mining on a large scale (probably small scale to validate technology) so don’t envisage the scale of find raises that we have seen at ARB. I have nearly 1.5m shares in total which I hope to make a decent profit on but can accept the loss if it all falls apart.
I’m hoping it will be largely funded by the sale of HODl, out current Holding is worth about $120m with more coming in each months could probably build out without even selling what we mine each month. At current prices about £20m of Bitcoin a month. I’m not a big fan of selling off exciting early stages investment that we hold as these could be the real icing on the cake if you’ve chosen wisely and at this stage of development you never get best price.
I have freed up another £6,000 this evening in the hope of a precipitous fall tomorrow morning, I’m sure this will move soon and am keen to add to my holding before the big moves. Hoping to get to 13,000 shares then sit back and wait.
The following is from the RNS on 29th July four weeks will be tomorrow son anytime from now onwards we can expect results, I picked up an additional 390,000 shares near the close today in anticipation of results.
"Our diamond drilling program continues at the anticipated pace and budgeted rate. Drilling conditions are very good and core recovery is excellent. I will stress that there is a time-consuming process of core orientation, geotechnical and geological logging, core photography, sample interval selection, cutting and sampling to go through even before the samples are sent to the laboratory. In this light, it will still be at least 2 weeks until the first drill hole is sent to the laboratory and then a further 2-3 weeks before results are received."
Still a gret buy in my view, I would expect at least 50% from here over the next twelve months rather than the 30% you are looking for, although I feel that there are lots of Bargains in the UK Market at the minute.
Remember that they are also in the middle of a major turnaround which will eat cash and 2020 fully year result will be awful given the sales performance. Shares don't drop day after day like this unless something is amiss. I would wait until the 2020 full year end numbers are released before buying in. It is very firmly on my watch list as a recovery play but I do not belive that it is showing any real signs of recovery yet.
If your read the accounts net debt was down by about £100m from £2.7bn toi £2.6bn, these are not the PLC company accounts. these are not the group accounts and the balances referenced are intergroup debts which should net to zero. Its a non event RNS.