Member Info for ToS1963

I am a long term, largely dividen based blue chip investor. I’m retired. As Covid erupted, and markets reacted, I adjusted my holdings, with a view to making them more “Covid friendly”. Boo ... especially in light of the alleged Leicester scandal and subsequent effect on SP, was one of those I switched to, and was fortunate enough to to profit from. I reduced my holding on Sep 30th... profit is profit.... but still believe the long term future of retail is online. Covid will accelerate that transition. Boo are well placed, short term scandal aside, to take advantage. My view is unaltered. In the long term, this has massive upside potential. But all of the aforesaid is just my opinion. Often wrong.

So much bile on here towards shorters. Don’t understand it. Some people (shorters) think the price will go down. Others (including myself) think it will go up. It’s how a market works. Frequent cries of “hope the shorters burn”. Why? Some of those holding short positions recently, will have made money. Fair play to them. Others... myself included... will have made money on recent rises to £4. Why all the hate? Take a position, trust your judgement, and the market will ultimately decide. We are all human, and if we are posting on here, all invested, one way or another, in shares. Let’s try to like one another whilst doing so? FWIW, I think BOO is undervalued at £2.50. But I could be wrong. Others may think it’s overvalued. They could be wrong. But I don’t hate them, or wish them to burn just because it may cost me money.

1, 2, and 4 are the same thing, only circumstance will change them. 3. Is speculative, and imho likely.

Ice.... I don’t really follow, or understand, a lot of the L2 stuff, but see my earlier post.... as an investor, rather than a trader, I really like hearing about low liquidity. Sticky investors are one of two things.... pensioners (usually via their funds) seeking decent dividends..... clearly not the case here..... or people/institutions with genuine belief or vested interest. Lower the liquidity, longer it takes, but bigger the reward. IMHO. FWIW... I’ve just described my entire portfolio and investment strategy. Needless to say.... recently, my dividends haven’t been doing so well. In Solg I trust.

Just a bit of clarity on my earlier post, which having reread, may have seemed confrontational. I’m very pleased that at long last, this share has made significant increases in recent weeks. I still believe it to be undervalued, even given where we are in the exploration to mining lifecycle, based on Alpala alone. However it’s not nearly as undervalued as it was a few weeks back. Quite comfortable now to watch developments on drilling, PFS, financing, and even more so any potential bids. I just don’t see it moving much now... up or down.... without further news. 46p on no news would represent a big rise from here, and that would suggest a leak of some sort to me. Historically, I’ve questioned a lot of Solg strategy, but have to confess they seem to run a reasonably tight ship, so leaked news seems unlikely. It may sound strange, but I don’t think I’d like to see this rise much higher on no news. That would only mean the short term speculators have arrived. Their impatience... being worse even than mine..... could be more damaging in the longer term by transferring stock and undermining Citi / Solg strategy.

Shares rarely drift up nearly 30% on no news.

To use a Trainspotting quote, I haven’t felt this good since Archie Gemmel scored against Holland in 1978.

Anything between 70p and 90p to top slice.... hopefully within 12 months.... then the long term wait to the £5 boom option for the remainder.

Quady... I agree with your point on the alternative board bit. That was ridiculous behaviour from CGP, and a deliberate attempt at disruption. You are also correct that unless a formal offer is made, which clearly there hasn’t been, there is nothing to report. Not sure I agree on withholding multiple drill results though... but previous debates on here covered this point, and I believe we are probably best agreeing to differ on that. If they have been, I’d call it sailing pretty close to the wind regarding the letter of the regulations.

Wow BBG. Just wow. Your maturity and intellect dazzles me. Please, don’t respond to my posts, or do so constructively for the benefit of all on the board. This board can be bad enough at times without that kind of nonsense response to a genuine and reasoned post. Thanks.

Recent slew of news is very welcome, and the frequency of these updates suggests to me that there is some truth in the CGP assertion that we have been withholding material updates until the board felt is was strategically advantageous to release them. I admit, I could be seeing conspiracy where none exists, and it is purely coincidental that all these tenement updates are arriving just prior to the dates of the BHP standstill end, and CGP offer response is due, but that seems unlikely to me. NM and co may be playing their hand extremely well, but as a shareholder, and generally, I prefer openness and transparency at all times. We discussed on here before, whether these drill updates represent material information that regulations dictate must be released as soon as known, within a reasonable time. As a Solg holder, I was (as you all know) pretty miffed at the lack of progress, and now all that has changed. However, and whilst I have little sympathy for CGP and how they have acted, let’s remember, they are and remain a significant stakeholder here. Some of what they say is perhaps proving to be correct.

Just back from playing golf. Thanks for the kind words and advice on the camper van. Yes, they’re a shocking price, but they do hold their value. When the mortgage was paid off, quite some time ago now, I swore to myself I would never borrow money again, and have stuck to that, so even in these low interest rate times, and I could afford it, taking out a loan would be a non starter for me. In Solgold I trust.

All this posting about exit price got me thinking. Always good to have a strategy. I am already retired, and my income and savings are enough (I think) to keep me comfortable whilst not rich, see the kids through university, and leave them a bit. So for me to enjoy this investment, the going to production scenario will probably take too long, but if that does turn out to be the case, I’ll be happy in the knowledge my kids will benefit. Anyway.... one thing I would like is a nice, near new, camper van, whilst I am still young and fit enough to enjoy it. I’d like this from my profits, whilst continuing to hold the value of my initial investment, so a top slice rather than an exit price. Got the calculator out, I need it to hit around 70p, so that’s what I’ve pencilled in. I think this is achievable, with a fair wind, some good drill results, and a rejected bid or two, within 9 months. Fingers crossed. Please posters.... feel free to remind me of this post should the SP approach that level, as I want to hit the road!
So having been in the takeover for over £1 camp, I’m now in the 70p top slice and then go to production camp. But I’d accept either.

Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), is pleased to provide the following operational update for September 2020.

During the month of September, Argo mined 127 Bitcoin or Bitcoin Equivalent (BTC) compared to 166 in August. This takes the total amount mined year-to-date to 2,128 BTC. The lower number of coins mined in September compared to August can be attributed to the significant rise in mining difficulty throughout September although other factors, as detailed below, also impacted production.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in September amounted to £1.1 million (August 2020: £1.49 million). Argo generated this income at an average monthly mining margin of approximately 37% for September (August 2020: 44%). The change in margin is largely attributable to the aforementioned rise in difficulty, as well as the lower price for both Bitcoin and Zcash in September compared to August.

At the end of September, the company held 126 BTC in Bitcoin and BTC equivalent, in accordance with the Company's asset management strategy. Argo's total mining capacity remains at 18,000 machines, with 730 Petahash of SHA-256 hash power, and 280 Megasols of equihash mining capacity.

In addition to the increased difficulty, mining in September was impacted by a contractual dispute between the Company's hosting provider and their subcontractor, to which the Company was not a party. As a result of the dispute, a portion of the company's overall hashrate was offline for four days which reduced the cryptoassets mined by this hardware during the month. The Company has taken steps to secure greater control over all of its mining machines by entering into direct discussions with the subcontractor, and does not anticipate any further interruptions arising from the dispute between the host and its subcontractor, and in doing so, the Company considers it has taken the appropriate and necessary steps to protect its interests.

The Company is also pleased to announce it has entered into a conditional Letter of Intent (LOI) with GPU.one, the Canadian data centre provider, setting out the material terms and conditions on which the Company would make a strategic purchase of the two data centres in Quebec owned and operated by GPU.one which currently house Argo's cryptocurrency mining equipment. The data centres have a combined total of 20MW of power capacity, and if completed, the acquisition would provide the Company with long term stability and direct control over the facilities in which its mining machines are housed. Subject to entry into definitive agreements and satisfaction of a number of conditions, the Company envisages that the purchase will be funded out of the company's existing deposits with GPU.one, and cash.

Peter Wall, Chief Executive of Argo, said: "Subject to completion of the potential transaction with GPU.one, the acquisition of these data centres rep

Jerry.... just to play devils advocate... there’s a very real possibility, maybe even a probability, that 15th will come and go with no news from BHP or anyone else. If that happens, it is equally possible the SP could retrace slightly, bearing in mind there is likely to be a small element of the standstill effect factored into the price at that point. Therefore, some people might feel they can sell now, with a view to either banking the recent profit, and/or rebuking shortly after 15th on any dips.
For clarity, that scenario is not my position, I continue to hold until after 15th, and the road ahead is clearer. Plenty of events, above and beyond the standstill, to keep the SP ticking along in my view.

Like earthling, my preferred option would be a sale of Alpala, with some monies returned to shareholders, and the majority of it used to fund the proving up of the remaining tenements. However, although I am willing to accept the stated tax implications of this approach make it unviable, I would like to see the numbers supporting that statement. Repeating what I’ve said before, I sit in the camp that believes this will get taken out by a major, however I have no issue with it going all the way to production, as long as two criteria (which NM has previously stated would be met) 1. Further dilution is minimised and 2. Shareholders will see profitable exit points in the SP along the way.
Despite it taking a long, long time.... longer than I had anticipated.... at long last, given the market reaction last week, he does appear to be achieving what he set out to do, and is starting to fulfil that plan.
There have been several false dawns here, but given the expectation of further news around drilling, financing, the CGP situation and the BHP standstill, now would appear to me at least to be the time when Solg eventually begins to fulfil its long shown promise. Fingers crossed.

Things looking decent here... for the first time, in a long, long time. Can I just ask.... as politely as possible.... Earthling and Quady.... could you please, for the benefit of the board, try and resist from reacting to each other? Ok.... you have different viewpoints... that’s what this board is all about..... but keep it civil, and impersonal if you can.

I am happy this morning. As I am known as a cup half empty kind of poster, this is unusual in the extreme. Long may it continue.

Every time I look to re-engage with this board, it turns a bit feral. Anyway, that aside.... I have to say I thought after the webinar and this mornings RNS, we would see a retrace back to around 23p here today. Delighted to be wrong.

My main issue with today’s RNS is the lack of new dates in it. Everything is “being finalised” or “near completion”. Having missed a long established, and much publicised key milestone, I think the stakeholders deserve to be given some indication of how much slippage can be expected. Is it a couple of weeks, or months, or longer? I am listening to what they are saying.... unfortunately the answer is “not much”. Under such circumstances it’s completely understandable that people will read between the lines.