The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Yea all good here, been busy with some pretty significant renovation work and sorting a lot of stuff out..
Lost a small fortune on crypto but still in the game although my miners are now off for the summer, the economics don't stack up for me now with power costs.. sad days.. But I'm sure I'll have them back on once I work out the flux capcitor and some quantum entanglement.
Good to see everyone still posting the same stuff after a few months, home from home.
Chaebol wins as most accurate price predictor on here. In fact he has been more right than most others added up.
And yes I'm still bitter about missing out on those 50p cheap shares.
Gotto admit, it would be nice to get back to that placing price we all hated (except Kev, he loves a good dilution).
I'm only 70 or 80% down at the moment so still have about £3.60 left.
What a pickle, my most disappointing moment though was turning off my miners the other day .. Sad sad day.. Although its more about the building work I'm having done.. Still sad though
10% up with a 7. 5% spread isn't very kind, I imagine that will be sorted soon once way or another.
It was a positive rns, anyone done the financing calcs for 5.5eh based on what we know is our current rate plus the planned increase, I. E. Do we currently have enough money with the 70mil loan to pay for that hash rate?
I used to spend the time working it out but can't be bothered these days... I presume that 70mil loan might cover the 20k s19s depending on what deposit was put down... But Unfortunatly none of that is anything new.
Still, good news that it didn't all catch fire :)
"Hey Chuz, dilution any minute isn’t it??…come on, that’s what you’ve spent months and months peddling….DOH! Lol (another squad member downed!)"
Im not a member of any squad I havn't posted for ages.
Guess what, I STILL think that dilution is coming... But as soon as it was apparent that part of phase 1 would just be moving existing hashrate I quickly became less interested.
You will find that I have also posted that "if it was me" I would raise capital via a loan, wait for the increase in share price when increased hashrate/machines was announced and then do a raise and not need the loan anymore.
Mind you the share price is already lower than I expected after dilution so who knows, I would imagine that is the ONLY reason more shares havn't been issued.
No matter what, we were all pretty gutted at 114p now it's nearly half of that..
It has been an awful investment for the majority with the only real winners being those who got in early and got out again pre IPO.
If the market thought the RNS was decent then the SP would of gone up, instead it's gone down.
We can (and have) spent day after day, week after week arguing over details or lack there of.
Proof of the pudding is in the eating and to be honest, mainly due to macro circumstances, the pudding is unpalatable.
It's just a crock of poo.. All the miners are
I reckon 12% annually as that is a relatively normal way to express I would be more concerned about if its an APR based financing fee or fixed.
Again I would assume Fixed because there's no repayment plan just a maturity date..
With inflation at 8% ish it wouldn't make a lot of sense to give a loan over 2 years at 12%, basically free money.
As always though, the company that promotes itself on transpency has muddied the water even with a loan.
"It is completely disproportionate to the fall in BTC so just keen to understand the thoughts of LTH and thoughts going forward?"
Its disproportionate to btc price fall but Unfortunatly its inline with the other miners and general sentiment.
Argo has been battered and I don't think it's helped itself at all with the coms and lack of transparency.. Even around future strategy for Helios and machines... BUT it has performed just as poorly as all the others so no exception.
It's just a daft industry really
"Stop with the dilution nonsense for now. PW addressed this last month. He said they listened to share holders and aren’t going down the dilution route unless the share price is multiples of where it is. That is why they got the debt facility."
Good chunk of debt to pay for those 20k s19s on order. That's without any further purchase of machines... Nice shed
"Looking good for a move higher over the next few months , can see this being £1.20-£1.30 quite quickly as Helios is completed."
Im not sure I understand the logic of 100% increase because the shed is built.. If they are just moving existing miners in then I don't think 100% increase is warrented for a few quids worth of power and servicing savings.
Interesting,
Sky news "Rishi Sunak to launch an NFT issued by the Royal Mint to help make UK 'global cryptoasset hub'"
Sounds to me like he can see the enevitability of crypto and wants to get in early to help shape it, by shape it I mean gain some control over it.
Reminds me of Rothchild.... Give me control of the nations money supply and I care not who makes the laws..
Either you have to ban it or embrace it, you can't "let" it happen else you will find you have dwindling powerbase.
"Can anyone see any positives in the indian 30% tax on crypto?"
Governmental legitimisation of crypto as genuine assets that can be taxed.
For crypto to be properly accepted it will need to be taxed and a framework set up for it.
It is enevitable that governments will tax it, why wouldn't they, if you can tax the sale of a house with stamp duty, or you can tax capital gains on bullion etc then it's a must for crypto to be taxed if it is to be properly recognized.
If the government's can get thier hands on more of your money then they might even facilitate its use so they can have more of it.
"Is there consensus ETA on when funding will need to be required to pay Bitmain and/or Intel?"
No one knows as the strategy has become less clear.. Are we increasing hash rate or consolidation locations of machines.
I am sure we will need money to pay for the 20k machines but after that only argo know.. Transparency has gone completely.
"Market doesn't seem to care about earnings, it's all about future hash rate promises according to miner market caps."
Been saying that for a long time now which is why moving machines to Helios has little affect, without increasing hashrate Argo will go backwards
"I'm selfishly hoping Argo's price will remain beneath £1 over the next week and a bit so I can fill up next year's ISA at these bargain basement prices."
Surely just buy now and pay 80p if the concern is it staying under £1 in the next week or so. Full cgt would be 28%..
So Assuming You've already used your 12k capital gains allowance, you could buy the lot now at under 20% to your 100p target..
Basically 8% potential risk which is a day's movement.
I Wouldn't let the Isa stand in your way.. Don't you have millions of these anyways?
"Shouldn't this be over a pound now.. onwards and upwards"
For what reason? Have we increased hashrate or sorted out funding?
The miners in general should go up with btc increasing a bit but it's kinda rubbish that it's really just the price of btc that makes it a good investment or not... I'm leaning towards more just owning btc and removing the 3rd party risk and enevitable dilution.
Back to 65 please then I can press the ejector seat button