Member Info for the_Chuz

The LSE to NASDAQ relationship is like the school bully taking your lunch money before you go home.

"
Bitcoin could go up to $70k, be legalised as tender in the US and become an asset to pention funds, ARGO would still close at 118p..."

Such a fudder it's.. 120p actually not 118p :)

I must admit it seems like we were wrong about the appetite for Argo on the nasdaq.. With btc @47k surely we should of moved more than a percent or two.

Bit ridiculous really.

I invested in Argo because I don't like paying capital gains tax and since there seems to be little chance of making a profit I'm doing good on that front haha

(don't worry im in a Isa and SIPP really anyways)

@boo up
"Can anyone explain the relation of ARB to ARBK, to they level the positions at the end of each day as currently ARB is flat and ARBK is up 4%
I'm invested in ARB but seriously thinking of switching to ARBK as the movement of that stock seems more normal!"

Yes they are linked, pretty straight forward explanation..

If lse drops 5% between 8-2:30 then from 2:30 - 4:30 it gains back 2% then you will see that lse is down 3% and nas is up 2%

ARBK opens at the price of ARB and if you calculate usd to GBP you will find they are the same price it's just one opens with the loss already in place so any movement upwards is shown as a gain on Arbk when it could still be a loss on arb.

I cannot help myself but to Laugh.. But then I look as us and. Its not so funny.

QBT, which used to be a real estate company until very recently are a group of brains. They have an anonymous expert like a Crypto-Stig working on refining Asics.

That in itself a find funny that the company is basically some guy or girl probably doing as part of a Uni qualification.

Then I think to myself (no not a wonderful world), I think to myself, OK, what's the USP of the company, or what actually Is the company.. Its the crpto-stig they have, now firstly will crpto-stig be able constantly refined asics or is this a one shot deal, secondly if the crpto-stig is really that amazing then surely one of the big Asics makers and developers will hire them and pay them many many millions. Then what's left of the company.

It's a typical aim penny share, might be worth a punt because like we see today it can go up 30% to 1.5p but I just can't see it doing anything other than rebranding and selling something like sportsware in the future.

And yes I fully appreciate the irony of me saying that whilst they are up 30% today and we are in the red.

@dsflat

"20,000 rigs at circa $10,000 each is $200 Million (back of fag packet calcs)

So if PW put down a 10% deposit ($20mm) then he only has to find another $180 Million before delivery

Or am I missing something ?

Rigs look very profitable TBF
https://www.asicminervalue.com/miners/bitmain/antminer-s19j-pro-100th"

True if the numbers are right, but I've got a different scenario.

20,000 miners @$4k each =80million in total
1) The 100 million loan facility covers it all so done.
2) We put down 10% and sell 200 btc
3) We negotiate new finance and use 400 btc as collateral..

Its not all doom and gloom, there's ways and means and none of Has to come directly from shareholders

"with all these machines at $40,000 BTC we will be making $300+ million a year. what's not to like"

Only the share dilution to fund it, But that was always going to be the case.. Or maybe not

We still have the 100million loan facility, it seems like the debate today is about leasing or buying and funding the purchase..

Using the loan facility is much like leasing them isn't it, I. E. You have to pay a certain amount back each month.

Put all that to one side though.. What should be the price of a debt free miner producing 1.7e and 480mil shares?

Well.. It looks like the market is definatley less impressed than I was.. Probably people being wary of PW and the team now after chucking investors under the bus.

Poor show and sentiment driven imo as the numbers are not bad

@Kev
"From reading the stocktwits bb, I think that this RNS will have a bigger effect on US investors than on the UK."

Hopefully because at +3% here now its been completely ignored by LSE, we've gone up about the same as the increase in BTC so I don't think it's had much effect (yet) in the UK, shame because its a decent enough rns.

The important thing to me is that it looks like we will have the 1. 7e installed this year. That's what I've base my £2.40 on.

So sooner or later the market will wake up to it.

"Any mention of the cost of these machines and how,following the initial deposit they will be paid for? ."

Ahh yes only deposit funded, I thought wow do we have that much but if its just a deposit we do.

We have the 100 mil loan facility that can be tapped.

That's the badger!

Just a quick skim through looks like

3 EH by end of next year all paid for via current funding..

@Fireblade

"At midday Btc was at the same price as it is now and Arb was £1.24.8
What’s changed is Arb actually worth any less, no I don’t think so, don’t let them have your shares cheap!!"

Nah just over valued at lunchtime haha :)

@Chaebol

"Price has held well today,
did expect under 110p. Those days are coming."

Im not so sure, if PW can get out a op uodate next week with even a bit of unknown positivive news such as new machines have been installed then I think it will turn.

It's just a death of a thousand cuts at the moment without any real volume, its being played with.

A bit of positive news and some volume (in the right direction) should pop it back up.

Of course if we get an operational update of "I can't answer that" then we might slip passed the u bend

@kev

"Are you using the wrong handle here? Either that, or you are "rewriting history"."

I am sure there is a perfectly logical explanation, just some misinterpretation of the posts I reckon :)

@loladea

"No, the_chuz. Every draft contained the extra shares for the over allotment option in addition to the 75 million shares."

Yes it did, what I'm saying is that the draft said a maximum to be raised of $75 million dollars (not shares).

It went from 75mil dollars to 75 mil shares.. Its a big difference.

Like you say though that side of things are done, but i can understand why people feel they've been done over a bit.

""The Company has 381,832,335 Ordinary Shares in issue and 86,250,000 New Ordinary Shares will be issued pursuant to the Fundraising (if the Over-allotment Option is exercised in full)."

True but the original draft indicated a maximum of $75 mil to be raised and when we were at 150+ it made it a different impact. I am aware it was a draft and subject to change but it was an indicator intent. The price produced was around 18 dollars, again not gospel as its all place holder and draft as they usually have some degree of accuracy.

I am not saying we were misled, because we went, it was draft and all done legally. I do think we were misinformed though and at very minimum the expectations were very poorly handled.

@splatted

"How can arb not be in their sights"

Hopefully it will be soon.. Until then or someother amount of decent buying pressure we just have to look at the 45% in reade we now need just to get us back to pre IPO level.

I know people say it's only a loss if you sell but this sure does feel like a pretty painful loss... Royally stuffed at the moment..

And yes I know, operational update and all of that.