Member Info for ronmcdonald

Mining margin -> How do they calculate it? What expenses are excluded? Just trying to understand how profitable this is and if it's still loss-making. I wish they'd provide more relevant figures...

Totally agree, Rosewall.
Thanks for the link, Wmsjames. Promising, although: "The directors do not currently have any intention of exercising the authority granted by this resolution. The directors will only exercise the authority to purchase ordinary shares where they consider that such purchases will be in the best interests of the Company and the shareholders generally. " But promising

Difficulty has remained high this month (only down 6% since halving); hash rate down 20% max?; BTC price remains subdued vs expectations; while rewards per block are down 50%... if these figures are correct (and please correct me if I'm wrong), I think this month's results won't be great for ARB unfortunately. Also, wasn't the 1m loan supposed to be paid back in June with FCF?

"discussed numerous times albeit indirectly"? *albeit indirectly*?! LOL
"first time you've posted on this thread" - yes, so what? I guess you've been posting on this thread before SLP was founded, right?
"reminding people of facts they already appreciate" - I suppose you are "the people"?! The sad thing is, if I would have said - the share price will be 100p by July... you would have raved about my post... sad

"either that or we are all seriously missing something" - you may be missing:

1. the manufacture of catalytic converters is / will reduce significantly this year, and

2. although SA is re-opening for business "after" the virus, the actual number of covid cases (in Pretoria in particular) is going through the roof right now. Maybe SLP will have to shut down operations again as the gold mine next door has done? Just look at where SA is on the covid curve: it's just ramping up, and it's likely to get worse as SA moves into the cooler and drier winter period... (cold & dry weather + no-lockdown = ideal conditions for the virus to spread)

I think you are missing a trick if you don't consider depreciation. The machines aren't cheap and they burn out pretty quickly... so although your EBITDA may look good, once you factor in the "D" your actual profitability will reduce significantly for this type of business
IMO

"Crazy no value attributed to its assets lol" - if you believe those asset values... do you believe the reversal of the $35m impairment is legitimate?

How risky is it for Regal to be owned (54%) by Ukrainian billionaire and politician Vadym Novynskyi?
The reversal of a $35m impairment is highly unusual... I'm wondering whether someone had a gun to their head while they "reconsidered" the impairment...

And, like the FT says, Argentina aren't going to pay either.. they have never paid their creditors properly - they consistently default even with much more powerful creditors than those in YPF

Agreed, but they need to do a roadshow to get their mcap above £50m to reach the threshold to list on the HKEX. In the current climate, not sure who has the appetite to pay 4 times the current price so that they can list... they are a bit stuck in my view, but I hope you are right

I'm with you on the enthusiasm, but unfortunately it's not a guaranteed rush to 5p since it's a convertible loan. If CNEL doesn't list on HKEX -> lender doesn't convert and so gets money back plus interest. Also, if the price remains below 5p, they obviously won't convert either. So not guaranteed at all

(..and absurdly undervalued... but I guess not many traditional investors understand ARB well enough, particularly institutional investors)

Totally agree, Alpaca. ARB recorded a loss for the overall year of 2019 because this time last year it was growing massively at great expense while transforming its business model. ARB is now a completely different animal and a hugely profitable machine. At current BTC prices this machine spits out cash like very few miners out there, and if the BTC price goes down, ARB is simply able to mine more to (partly) compensate for the reduced margins. If the price goes up... we all know what that means - so effectively ARB is protected from the price of BTC, making it -as Alpaca says- a money printing machine

from RNS: "Clinical trial operations have been affected by the ongoing travel restrictions and social distancing policies put in place by governments across the world and several pharmaceutical companies have already announced suspensions or the slowing down of clinical trials. COVID-19 could also lead to clinical sites being quarantined or closed down, as well as further restrictions on travel and interruptions to the supply of investigational product to patients."

Thanks, millsm. Much appreciated

Does anyone know the deadline to submit the form? I've looked through the RNSs and not too clear...

Also, would anyone know what happens if one submits the form with X number of shares, and then goes out to buy more, increasing one's position to more than X by the time CNEL lists on HKEX?

Many thanks! (all new to me as you can tell)

Under new HKEX rules, I think CNEL doesn't need to meet the HK$500m market cap rule given it meets the profit rule - so no need for CNEL to boost market cap before listing

"...judge them on their results"... oh wait, terrible mgmt, SP collapse, PER drops below 3, but don't worry, PER is below 3! What a bargain! LOL

(From the RNS):

"The Group has a significant (c45 per cent.) exposure to high risk sectors, with a further c40 per cent. exposure in medium sectors.

The Group anticipates a reduced revenue and margin from such customers, reducing forward profitability and resulting in a Mark-to-Market loss on energy over-purchased which is to be sold back to market.

The Directors have also assumed that Covid-19 may result in additional customer credit losses (in the form of bad debt) or late customer payments, which will impact on the Group's ability to generate operating cashflow."

There's also a mention about issuing debt this year, so cashflow may be tight to problematic, particularly if Yu wants to grow, which is cash intensive...

Not the best news for the stock to rally! The price is v. low, but I wouldn't expect it to ramp up on the news!

I'm on that one too and it's equally crap if not worse as it's full of raging speculators... I guess it's what one would expect from someone who says the LSE and FCA are going down (!)