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From RNS 27 Sep 21
"The proposed sale values ITP Aero at an enterprise value of approximately €1.8 billion. The transaction has been approved by the Board of Rolls-Royce and the consortium members and is subject to certain closing conditions, including customary regulatory clearances. It is expected to close in the first half of 2022."
Likely explanation is that the proposed sale of ITP as announced in the RNS has been cocluded so £1.7 billion in the bank.
What is the relevance of your 150mb reserves, they are for the future. What matters is what we are selling now, not what we can sell in the future after we've dug it up. Futures prices are relevant to traders, not producers. Increased spot prices means more income from the unhedged barrelage now, in addition to the guaranteed income from the hedged production.
"He is a brainwashed ex KGB Officer." Yes and he has amassed a remarkable 17 billion dollar fortune by stealing from the Russian people, along with his Mafia and oligarch friends. He cares about himself and his image, not about Russian people whom he has treated with contempt.
Everest, this Azov thing is in the territories occupied by Russia illegally in 2014. In the last 8 years there may have been a lot of atrocities on both sides by illegal armed militia and Russian special forces incognito. Remember the Dutch airliner downed with great loss of innocent civilian lives ? I suppose you think the Ukraine military shot the plane down to discredit the separitists. and the Ukrainians planted a bomb in their own apartments for propaganda. Shades of the 911 conspiracy theories. This does not change the fact that Russian soldiers are now killing Ukrainian civilians by shelling residential blocks. I would be wary of believing Russia Today as some of their recent footage has been analysed and found to be forged. This will end when Putin is ended. I noticed his Politburo chums looked unhappy while he was holding court. With the body bags piling up in Moscow and the economy collapsing they may soon decide enough is enough. All the best.
Putin is like many dictators in this world today, not concerned with the welfare of the people in his country, only the benefits he and his wealthy friends (Oligarchs and the Russian Mafia) can reap by ripping off the ordinary people, Think also of Lukashenko, Xi, Bolsinaro, Assad and most of the Arabian Princes who have never done a days work in their lives yet are worth billions. Putin has 17 billion dollars by the way, how did a middle-ranking KGB officer become so wealthy ? He thinks this escapade may endear him to the Russian people, but judging by the news footage of spontaneous protests, it's not looking good. It will look even less good if the 18,000 Kyiv citizens who today received machine guns manage to send a good number of body bags back to "Mother Russis".
Reading previous posts, there is some confusion as to how the new machines are being financed and when they are to be paid for.
From 30 sep 21 RNS:
"Expansion of mining capacity
Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to announce that it has executed a purchase agreement for 20,000 Bitmain Antminer S19J Pro machines, to be paid in periodic installments before final shipment. The initial deposit is currently being funded by the Company's cash reserves. The machines are expected to increase Argo's hashrate by over 2 Exahash and are expected to be delivered and installed at the Company's future Texas facility in monthly batches from Q2 2022 through Q3 2021"
If we get a discount we could probably get them for, say, $10,000 each. As we are buying 20,00 the total cost is 200,000,000 dollars.(two hundred million dollars). The expression "to be paid in periodic installments before final shipment" confuses me too. If we have to pay installments for each one up to the purchase price before final shipment of that machine, it could take along time for 20,000 !
We could make regiular 10,00 dollar payments and a machine would be delivered, but that is not clear from the wording.lNo doubt there is somebody out there who understands the situation better and will call me an idiot.
goondaft, yes, and it looks like the deck chairs are being rearranged to pay the directors' salaries !
Thanks.
Just a small point, can anyone tell me how 25/11/21 to 19/1/22 is 3.5 months. Thanks in advance.