Member Info for the_Chuz

@kev

"Why not speculate on delivery of rigs, or who will join TerraPool, or when the Texas facility car park will be finished, or what the proposed employee/restroom ratio will be. So much detail they deliberately refuse to tell us. Maybe they want to hide the important stuff from us???"

Rest rooms ratios and car parks are not material to the share price (although I don't want to pay for a car park.. Surely parking on sand is OK).

What I am interested in though is the impact of issueing 75 million more shares as this has a direct dilutive effect. When assumptions are built around it being $75 million dollars raised then a re-evaluation is prudent when it turns out to be 75 million shares.

I have no doubt at all that it's a good move for the company as I thought it was a bit low to be raising 75million, I even posted as such when I was saying I didn't know how we would actually finance stuff going forwards and I was expecting a share issue... Well that IS the extra share issue in my mind.

I say it alot, what is good for the company is not always good for existing shareholders.

@kev
"The former MUST change but the latter CANNOT. Well, it could be replaced by a correction, but that’s not how it’s supposed to work."

Gotto admit that makes sense so we are looking at issuing another 75 mil shares so instead of the original belief that we would raise $75m (£53 mil) @ maybe £1.3 = 40 mil shares (10% dilution). We are more likely gojng to be looking at 20% dilution.

I feel another sell half coming on hahaha

@Hexam
"The latest filing clearly still states the maximum proposed offering is $75m but the RNS clearly states it is the equivalent of 75m ordinary shares i.e. about twice as much. Why do they differ and which is it? Are they raising £50m or £100m?"

Ooo I missed that completely.. That's a bit differnt.

Originally I then thought it works if the IPO shares are sold at 25% discount to IIs. I. E. £1.3 - 25% = £1 so 75 mil shard is 75 mil dollars BUT thats me now mixing up denominations £ to $

That kinda needs clarifying, back into the realms of uncertainty again.. Unfortunately as always its just never clear with this company

@trelawny

Just to dampen the spirits I don't think you are through the rain at all yet, its just a brief stop before it rains some more.

How's that for cheery :)

"Bidding price £13.34 per share?

Thats what I read but may be wrong. Great to see it finally happening. Missed loads of the USA bull run but hopefully will get a nice re rate to similar value levels of the other miners. ARB is looking cheap in comparison."

Well kind of except for the numbers and denomination. The price given is an indicative price but may not be the actual price at all and the adr is then in dollars.

@cameronmcd
"What’s everyone thoughts on the price after a week of listed on one of the biggest tech markets in the world?"

Just for wild guesses sake because that's all it can be I'm expecting 3.5 - 4.5 in the first 6 months.

But as we all know,. It could be 1 or 10 no one has a Scooby dooooo

I want to click the "sell half button" again to accumulate on the drop but I'm starting to lose my bottle haha

@lol

"Notice that there is no discount :-)"

Yes, I think it was bluebay that cleared it up a while back with me Co fusing the list price with the IPO institution price. I. E. The iis will get the ads at a discount but the list price will be inline to us

@argobull

"Eddie, it says it has commenced, so I think it means it has started. Doesn't trade on NASDAQ till after IPO finished."

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.

@Eddie

Not yet

A registration statement relating to these securities has been filed with the SEC but has not yet become effective.

One day rodders..

I'm back to 100% in again, sell half close to 1.4 buy close to 1.3 and collect a few percent each time.

It's a dangerous game I know but I've got about 10% more shares now that I started. Could be costly if I miss the news but atleast it breaks up the boredom.

Right now as we all know it's just a waiting game for details which will hopefully bump the price up unless it's already baked in, or another delay which wouldn't go down well.

Can't be too much longer now either way

@flowerpot

"We haven't been able to get any new machines for 7 months and counting."

PW has stated recent that getting hold of machines isn't an issue in anyway.

I can only assume that ePIC are working on something next gen for us to of not had machines from then and more importantly for us to leave them with 5 million

@bluebay

"You’re assuming ARB are paying for all future Texas facility machines, when they may be hosted for other miners. You’re also assuming we won’t have more millions of dollars without future dilution, which we may also have from increase in value of hodl by H2 2022 (eg invest or loan against hodl during halving price plateau to increase production, then repeat hodl towards next parabolic phase 2024-5)."

I actually think we will host a good chunk of it to start with but that has to be taken into consideration with valuations.. I'm not sure what marina are made for hosting, I would structure it as a free carry but whatever way it works it will obviously be no where near as profitable as mining our own.

I do fully expect a lot more money raised through debt or share issue than the 75mil worth.

@lotto

"3EH build out is costed at $50m in the prospectus (with next 3EH costing $30m). "

Listening to one of PW you tube videos I'm pretty sure he says the construction of the building is for June, I think it will take a little while after than and a few hundred million dollars more (isn't that a film ha) to populate it with machines

It's long be my gripe (only major gripe to be honest) that things are not clear.

For a company who prides itself on I vestor relations, openness and communication there are many things that have not been clear at all.

It's a shame because the business model itself should be pretty transparent. The value of the thing that's produced is out of there hands so really it's a "get power, get machines" approach is what's needed and most people can get thier heads around that.

There always just enough information for people to be confused and that's where the FUD grows

I must admit I am a little confused with the new loan

At 25 mil @12% that's 250k per month interest.

We were to pay it until Dec so that's over 3/4 million interest that galaxy will be missing out on unless there is a special payment made.

@wolf

"So my theory now would be that the first tranche of borrowing must have been at extremely favourable terms or heavily over-collateralised if both loans balance out to 4.6% per the filing."

I think it's as simple as the original loan was at 12%. The new loan is for substantially more but at 4.5%.

Thr original loan will be paid off with the new loan so the 12% loan just doesn't exist.

Interestingly there is usually a penalty for paying off early as they miss thier percentage so either it will be paid as an 'exit fee' seperatly or it has been waived which would be overly generous of Galaxy.

@bluebay
"
Might be 4.5% as condition of the shortened term repayment"

Yes if my maths is right then I make it a nice round $250k fee.

45mil *4.5%/12*1.5

@Hexam

Yes it looks like it's 4.5% now which is interesting, page 83 puts a little bit of wording around it but doesn't tell us anything as to why it may now be 4.5%.

At 4.5% I'd be more inclined to keep it longer than 1.5 months.

Odd and interesting

@Hexam
"I believe the rate is actually (and oddly) 4.5% p.a. unless I’ve misread the revised SEC filing."

Might be like getting a loan from Sainsbury.. Differnt rates for differnt amounts borrowed... Hope they've used thier nectar card