Member Info for Scottman72

The principles are the same

It's one of the reasons I try and get those that don't understand how to pick a good share, particularly on AIM when a share is a bad investment.
In particular with AIM you dont have alot to go on. You have to take management projections with a pinch of salt. What matters more than anything is if the management are delivering on what they say they are going to do. If they do, you have greater faith in their projections, but no certainty. If they are not delivering on their objectives then leave or run. Their projections cannot be trusted.

I sold at 8p for a 25% profit. Luckily I realised how abysmal the management was before losing out.
Applesauce, it's one of the hardest decisions to make. Selling on a loss, but you cant hold on for something that has such a small probability it most likely wont happen.
I had to do it with BRD for a 66% loss when the management shafted the share holders.
You always have to move your investment where it will grow best. Sticking with these clowns is not an option for anyone with half a brain.
I hope you invest it wisely and you will look back and see it was the right decision.

News is BoD have left Sanj in the shxihxle in search of new ventures.
Hyper growth is not happening.
Shares are now well overvalued on the back of an overexcited ramp.

Precisely, only two things that matter. Number of machines and the current hash rate. Only one you have control of. You are unlikely to add enough machines to have a significant impact on the hash rate. But the hash rate has roughly doubled since March with the effect that BTCs returned for the same number of machines has halved.

But at the same time, looking at the interim, it did state “During the period, the Company committed to purchases of £18m of mining gear which puts it on track to have an installed base of more than 12,000 mining machines by the end of this year, representing a total hashing capacity of 505 petahash.”
So conflicting statements.

Looking back at the previous RNSs, I think all is in order.
The July update was taking about 7000 more being installed by year end on top of the currently installed 3200. Taking us to ~10,000 by year end.
The current RNS is talking about completion of the 7000 unit order taking us to 12,000 units. So 10,000 by year end plus another 2,000 into Q1 2020 aligns quite well.
So if BTC stays around 10k mark and scaling up from 163 BTC from 3000 machines suggests roughly 600 BTC from 12,000 machines. Or rather a rate equivalent to 72m per year. With a current MC of 29m.
Wonder what might happen to the SP?
??

Yes, that’s how it reads. Hopefully the next update will clarify where we are and what to expect

Argo, a UK-based provider of enterprise scale cryptocurrency mining services (LSE: ARB), is pleased to announce that following the installation of 1,000 new Antminer T17 Bitmain mining machines, the total number of machines in production has increased from 5,000 to 6,000.

The Company expects to increase its installed base rapidly over the remainder of this year. The additional 6,000 machines are on order and are expected to be installed over the next two quarters.

The Company plans to provide a third-quarter operational update in early October.

That’s BTC briefly dropped below the support line of the continuation triangle there. Now being held just above it. Pressures on for a drop to ~9200 now. A further drop will see it and then the drop to 7k is very likely to happen within the next month.

Agree.
The interim confirm that everything is in place to grow this baby rapidly and profitably. Sit back, relax and snap up any buy opportunities if you can.

LOL

It's a good laugh to see investors ignore what's hitting them in their face but they willingly ignore it on the belief of great riches that will never materialise.
A lesson to all never to get fixated on any shares, always stay unemotional un invest based on facts rather than fiction. A share that's not meeting its own stated commitments and doesn't show any signs of remorse is a stock to stay away from.

I think one things for certain. It ain't going to take off exponentially. The occasional bit of over exitedness, as shown recently, which ramps things up too far on no real news.
This is a certain crash and burn eventually

Going by Twitter. AB has alot more interest in inspecting and developing lucrative mines rather than signing up restaurants for a measly few quid.
No wonder this is going nowhere. No commitment from the BoDs

Interim Results


Argo Blockchain Plc, a UK-based provider of enterprise-scale cryptocurrency mining services (LSE: ARB), is pleased to announce its unaudited interim results for the six month period ended 30 June 2019 (the "Interim Report").

Financial highlights

· Revenue increased by 283% to £2.93 million (Full year to 31 December 2018: £0.76m)
· Operating profit of £0.94m (FY 2018: £4.14m loss)
· Achieved maiden profit of £0.94m (FY 2018: £4.12m loss)
· Earnings per share of 0.32p (FY 2018: 2.2p loss per share)


Operating highlights

· Reduced annual mining cost base by 35% with new strategy
· Successfully transitioned from consumer mining service to industrial-scale cryptomining for own account and institutional market from beginning of Q2 2019
· Generated £1.4m of cryptoassets in June 2019 from a total of 5,000 machines in production at the end of 30 June 2019
· Launched major expansion of inhouse mining infrastructure with 505 peta hash capacity to come on stream by end of 2019


Post-Period Highlights

· On 20 August signed a new multi-year agreement increasing access to clean electricity six-fold to 64 megawatts (MW), up from 9.5MW a year ago and 14MW in June 2019
· Strengthened Board with appointment of Matthew Shaw as independent non-executive director

Commenting on the results, Mike Edwards, executive chairman, said: "We have delivered strong growth and maiden profits only a year after the Company joined the London stock market as a pre-revenue venture. This result validates our decisive action to refocus the business in the light of volatile trading conditions. Our aggressive investment in scaling-up mining capacity, together with favourable industry conditions, provides strong momentum for the second half and our goal to become the world's largest public miner in 2020. Accordingly, the Board looks forward to the future with great confidence"

ROFL
BTC is coming to the tip of a reversal downward triangle. This usually has a high percentage to exit with a drop. The dynamics of this one suggests a drop of between 3k and 5k from exit level. Which would be just over 9k. Thus dropping to somewhere between 4k and 6k.
However, there is also a weaker continuation triangle. Which would suggest a continuation up to “14k.
If BTC drop shortly below 9.8k, the continuation triangle will be broken and BTC is then very likely to follow the stronger reversal downward triangle and drop shortly afterwards once the 9k level is broken.

True, SP may take a hit in the short term. But a better position overall in the near future.

So, if Bitcoin drops to 7k over the next month, what will the impact be on ARB?

Those calls are only based on $10k. By December it'll be significantly more by then. ;)