Member Info for RickEngland

Who's going to own the ledger and balance these transactions and at what cost? There's already huge debate about bitcoin mining and the energy that consumes. Essentially the miner gets paid for balancing the books. Lets not forget the EU love environmentalism isn't on the basis they can control people with legislation and taxes (under the banner of doing good).

The concept sounds great, one digital ledger you can hold an account, with all transaction to all account holders fully auditable and transparent. Problem is would you really want a central bank to hold so much power and knowledge of where the money is going and who owns it? There's huge trust issues there.

What about competition rules and monopoly. Ultimately there must be a huge cost to run that ledger, so there will be a charge. Can a bank already do it cheaper?

Rick

I dont understand these fintech valuations. Surely if Revolut is worth $33bn ((FT news). Then lloyds is worth 400 x that in market cap at least, based on earnings. Not even including the value of Lloyds balance sheet.

What have they really got that lloyds doesn't in earning power?

Seems crazy to me.

Rick

Just remember if you own shares, you own the asset (part of the bank), regardless what the market considers that asset to be worth. You only realise your gain or loss when you sell.

Betting on price movements is gambling, not investing.

Anyway if you buy enough quantity you can recover your costs in under a penny gain with Lloyds if you really wanted to day trade, or week trade. Pull out your calculator and run some numbers.

Personally I think investing in shares like lloyds is a long game, it's an income stock really (cash cow).

Rick.

Why? No PPI, huge exaggerated provisions, billions in unspent retail deposits basically funding the Bank for free. Massive capital buffers well above regulator worse case risk scenarios. Vaccine roll out over 64% of UK population, restrictions easings, masks ready to be binned. Regulator about to free the banks to pay normal dividends. Economy burning hot, with so much demand there's a backlog of resources to keep up with demand. Potential improving interest rates if inflation keeps rising. Where's your downside coming from?

All these regulator divisions I'm sure act like businesses, they need to raise enough fines to cover thier costs or someone gives them a *******ing. Even if they find nothing, they will fine for the using the wrong colour pen. I'm sure lloyds has a regulator salary provision already well covered haha. Anyway peanuts as the last poster said.

If any pensioners did own bank shares, they got well and truly shafted in 2007, assuming they're still alive now to still be feeling that financial pain.

Different world now though, most banks hold insane levels of buffer capital not to mention exaggerated provisions.

To be fair pensioner or not, no one has earned any interest on cash savings for near on a decade. Only plus side is cheaper mortgages, I remember paying 8% as the norm. Life is swings and roundabouts I guess.

I still believe we're moving into a new era of repaired bank balance sheets and some decent income for the next decade. I do love cash-cows, even if a little boring compared to tech sticks.

128,000 shares here.

Regulator announcing div policy next week. All back to normal I reckon. I'm relaxed topped up again on the dip, bank has got silly amounts of excess capital. Don't understand all this fear about inflation, if anything inflation is good for banks. Next to zero interest rates already, it can only go one way now. Good stuff.

Not an attack. Simply a debate of known facts to assess the valuation of this firm. I actually came here with an interest to invest, yet after doing my own research, I'm simply miles away from being convinced.

I ask for details, all I get is abuse.

Where is the revenue right now? (Last accounts £48k revenue against £1.2m cost, huge loss). It's a minnow miner thinking its worth billions. Why is this firm worth £600m+ market cap for simply buying a licence to mine?

No sale just noise and hot air, to help raise $20m. Wouldnt be surprised if that investment bank already offloaded that stock, and getting paid fees anyway. Wun-win for the bank.

There is nothing here apart from fools gold. However I find myself drawn to the board, it has entertainment value.

Until this firm proves otherwise, i view the current market cap as utterly insane.

Rick

Job done.... $20m raised at 26p a share. The RNS reporter can finally take a well earned holiday. No need for further news, bids, potential sales, or billions in the ground. That cash should keep them going for a couple of years. Haha.

The firms market cap Roger is £600m+, that's a hefty valuation for not much detail. In other words a lot of potential is already priced in. I think the sp will struggle unless the firm reports a binding offer for all their assets for £x billions. If that ever happens.

Lloyds is supposed to be a boring cash cow. Buy it, cream the div's leave it and forget it. Enjoy a few k income now and then, sorted.

The "fact" remains the last RNS unaudited results clearly states £48k revenue, against £1.2m loss for the last reported 6 months. I want to see numbers, particularly the balance sheet showing a value greater than the current market cap of £660m. Cash is not an issue, as they just raised $20m.

However based on the last results they're burning a million pounds every 6 months, with not much in return. Those are the numbers reported to the market, like it or not.

Steve; I just find it amazing that a 'minnow' miner acquired a £2bn asset from thin air. When its last reported unaudited accounts had 6 months revenue of £48k (grand not millions), against £1.2m costs.

Looks yo me the entire potential sales process had one goal, to gain access to $20m funding at 26p a share. Got to give it to them, they done well there this little minnow miner acting like a FSTE100 miner. I just find that hilarious.

Because all those RNS ramps had one purpose to raise $20m investment. They mined investors rather than the ground. Doesn't matter if a sale or not now. Doesn't matter how they invented a £2bn price tag from thin air, without a spade n the ground. They bagged the $20m. Well done minnow miner. hahaha.

Who'd by Tesla at $625 a share, when the main car firms have now caught up, and will ultimately take market share from Tesla.

Without a sale and cash in the bank, the only results to go on is the reported results and that is £84m revenue on costs of £1.2m over the last reported 6 months to June 2020. Where are the 2021 results?

Oh and they only had £51k cash last year haha. Unaudited though, so maybe they've got £2bn stashed under the mattress.

Friend of mine is into this stock, so i just did my own research. Made up my mind though, I'll stick with banks haha. Good luck though folks.

Mmmm £48k revenue with their own assessment of 'total' assets of £5m as of 30th Sept 2020. Then suddenly they own a mine with a price tag of £2bn. Previous owners have been seriously robbed if that is fact. If they updated the market with some finances not just ramping RNS's I'd be more comfortable. Its golden rule to dig into the numbers.

OK I'm interested. But I want to see some hard numbers.
All I can find is 30th Sept 2020 'unaudited' results RNS. £48k revenue, with costs at £1.2m. So huge loss. Is this market cap of £681m, purely based on the new JV, with the 'potential' to earn revenue? Like I say I want to see actual earnings, particularly audited financials.

Anyone got any data?

Rick

Not so sure Vinson. The board current needs a provision for 'all' claims they consider to be payable without a court agreed deal. They need another provision to fund dealing with these 'historical' claims. Are the claims growing?

Regardless of current income, those provisions are likely to swallow any cash. I'd love to know what the balance sheet would look like (not just the current cash flow statement). How is that going to it with creditors?