focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Nice interview conducted by Paul Hill @CapitalPmh
https://www.voxmarkets.co.uk/articles/q-a-with-cornerstone-fs-ceo-james-hickman-cfo-judy-happe-13a4b37/
@ShoreCapital have just increased their target price to 70p/share (vs 50p B4), alongside nudging up their FY24 revenue and EBITDA estimates to £11.5m and £1.9m respectively.
Playing the man and not the ball Mikedj ? Very interesting you feel my post was promoting bearish sentiment when I actually pointed out both bullish and bearish possibilities. An answer to the question I posed would be far more beneficial to the discussion than attempting to interpret my intentions based on the use of capital letters , I guess my request for sensible replies was my downfall.
Thanks for the reply Notready 1 , Why don’t you think there won’t be revenue from BTC mining yet ?
I believe FG first stated live testing was taking place late in 2023 or possibly early in 2024 , mining pools settle accounts in most cases monthly but in some cases weekly, so there should be revenue generated in the reporting period?
I’m genuinely interested why you don’t think any revenue will be shown, in more traditional industries I understand there maybe lags in payments which would take revenue outside the reporting period but bitcoin mining pools settle payments either in $ or Bitcoin on a weekly or monthly basis.
With results due from QBT at the end of June this should once and for all stop all the speculation.
FG has declared QBT are live testing thus backing himself into a corner imo .
The bull case will be at very least be partially proven correct if FG announces revenue from btc mining ( live testing can surly only mean actually mining on the network) , if they are mining there must be revenue no matter how small .
Should QBT not provide a revenue update from Mining you’d have to say it adds weight to the bear case .
Even if QBT’s tech has been used by a third party there must be data to update the market .
I’m happy for sensible posters to point out any other possibilities but given any revenue earned is a significant change in financial circumstances for QBT, and therefore is required by market rules to update the market I’m struggling to see how the can is kicked further down the street.
Bitcoin got a little ahead of its self pre halving, my own work suggested $53k was around the correct price @the halving.
It’s quite interesting to see Bitcoin corrected back to $57k which is ball park my halving estimate, if my figures are correct bitcoin should take off again 18th-21st May , it’s very possible we’ll see another pullback before then as bitcoin seems to like suckering in folk and shaking them out before really taking off .
I will put my neck on the line and say the way the wider market is currently setting up I’m expecting a melt up in the next 3-6months before a very very big sell off (60%ish ) I don’t expect Bitcoin or gold to be immune from this crash as folk will be desperate to liquidate all assets and will probably use the USD as a safe haven, this could lead to the dollar milkshake theory playing out which could see the $ back to around $1.40 . In short I think this bitcoin cycle will be short and sweet, probably undershooting what the majority of influencer are suggesting. My guess is the US presidential election will be the catalyst , a Trump victory would probably add extra fuel to the rocket short term while if Biden gets re-elected it could signal the top , whoever wins I don’t think it’ll be amicable which is another factor to add to any calculations.
As things stand $107k-$145k with the peak no later than November 2024 , I’m very open to revising these estimates if something significant happens but so far things are playing out pretty much on track .
GLA
A little surprising to see the drop in SP this morning after another set of excellent results, we now trade on a PE of 10 which seems a bargain given the growth trajectory and balance sheet strength. Clearly there’s M&A activity in the sector with Equal’s been in talks for months, how long until some runs the slide rule over cornerstone? With a mkt cap still only circa £20m we’d be a lovely bolt on buy , I’m holding on for 60p+ either from a takeover or the market giving us a more realistic valuation. In the meantime I for one am happy to sit and wait as the board appear to be doing a fine job of growing the business.
GLA DYOR
When selling a house. If you are in a good financial position with good earnings visibility you can afford to sit and wait for what you believe is the full market value. To the contrary should you be struggling financially you maybe inclined to sell out at below market value. Imo the board are doing a fine job in their continued stewardship of the business but also in standing firm at the negotiating table .
We were very unlucky yesterday, due to the wider market sell off what should have been a nice 3%~5% rise was very subdued, without doubt 50% potential upside here over the next 12months takeover or not , one to hold and not stress about day to day fluctuations.
Have a good day all .
You have noticed bitcoin pumps between the close of US stock exchange 9pm GMT Friday and the opening of US exchange 2:30pm Mondays , on average bitcoin moves up 2.54% over this period.
As I’ve previously suggested Jane Street as well as hedge funds are using the futures markets to short bitcoin, the key level appears to be $72k , once this level is breached you can expect a nice jump in price , $85k-$87k been the near term target as those shorts will be forced to cover effectively creating a short squeeze in what’s already a very tight market .
As many will have seen the US government dumped 30k of their estimated 210k coins last week , alongside the continued bleed from greyscale it would have been reasonable to expect a significant dip , that dip never arrived which tells you that the demand from the ETFs is still strong , added to that MR 100 continues buying in the region of 600per day on average.
What’s really bullish is we are approaching the 90days from the launch of the ETFs , this is significant because many pensions, institutions, fund managers take around 90days to go through compliance procedures.
With the halving fast approaching seems if anything more bullish than anticipated, my own target was $53k ( calculations made New Year’s Day ) at the halving and whilst that’s still very possible it’s becoming less and less likely.
Just be mindful the halving doesn’t mean we pump straight away , normally there’s a dip followed by a period of consolidation before an explosive pump , this time may well be different but it’s worth bearing in mind to prepare yourself for what may feel an underwhelming few weeks .
The observant amongst you will have noted the almost daily bitcoins smack down around 15:30-16:00 , this is Jane street doing blackrocks dirty work for them - shorting the futures market to shake the spot market so BlackRock can buy coins for their ETF at a discount.Will they attempt it again today , with $9.5bn of options expiring in the next 24hour you can expect volatility, a slam back down to $67k wouldn’t be out of the ordinary however looking at the on chain data it’s looking like the only real sellers are GBTC , at some point there’s going to be a huge short squeeze, with a long weekend ahead, institutional investors away from there desks , demand for bitcoin in Asia and South America growing rapidly Jane street could be caught out big time . Only time will tell but the set up it all there .
Bitcoin never closes .
Some months ago a contributor on here tried to convince you to buy BSV coin , claiming that it was developed by the real satoshi, well today Craig wright has been ruled as definitely not satoshi in the high court .
There’s quite a high degree of conviction among Bitcoin OGs who the real satoshi is, he continues to inform with fact not shill with BS .
99% of Crypto is a scam ,so please take great care when ppl try to influence with wild stories.
I always hesitate to comment on QBT directly due to the emotional response on both sides of the argument on these type of forums however I’ve a very simple observation.
IF QBT are live testing (. By default mining) why haven’t they informed the market of the numbers of BTC mined ? Even if they are only testing on a handful of rigs they should still have mined sats which given the company has no other meaningful income would constitute a material change in revenue, the market rules state this information is made public asap .
Now if this live testing has been taking place for months I can’t understand why QBT haven’t communicated this to the market especially as mining pool distributor proceeds weekly/ monthly.
Just out of interest, is the Warren Buffet you speak of the same person that denounces bitcoin at every opportunity yet his top performing asset of 2023 was NUbank ?????
NUbank btw is a bank who actively invest and trade in bitcoin and crypto assets.
As always these old school bankers and investors say one thing publicly and do another behind closed doors .
Every one bends the knee to bitcoin eventually, the only question is when they admit it publicly.
Elon musk
Larry fink
President Trump
Warren Buffet
Garry Gensler
To name a few who’ve seen the light .
Anyone wishing to clarify any information should contact the house broker.
Certainly Jeff is a very decent chap who knows his stuff. He’s buound by stock market rules but if you ask sensible questions he’ll answer them directly.
SP Angel Corporate Finance (Nominated Adviser & Broker)
Jeff Keating +44 (0)20 3470 0470
Kasia Brzozowska
Leander (Financial PR)
Christian Taylor-Wilkinson +44 (0) 7795 168 157
The QBT research team is indeed made up of around 20ppl
“QBT’s R&D team is composed of a number of sector experts selected across the UK and Italy, and includes highly skilled professionals, Ph.D students and university professors “
Given the team is split into 7 divisions it’s highly likely there are at least 13/14 students, 1 senior experienced person working alongside 2 students per division.
As others have pointed out in the last accounts QBT had 4 employees therefore it’s reasonable to assume that the R&D team are all working freelance , and their remuneration is dependent on SP performance ( which has been communicated by FG previously I believe)
Bitcoin breaks $100,000 in Australia
JUST IN: #Bitcoin hits €60,439 to make a new ALL-TIME-HIGH in Europe!
Bitcoin has now hit ATH against 25 currencies, price discovery is coming !
What the fiat fans still don’t grasp is bitcoin is exposing the debasement of €£$ , with the US adding an extra $1tn of debt every 100 days and the interest on that $32trn debt pile now exceeding the US defence budget that debasement will only accelerate when the printing of even more trash cash ramps up .
There will only ever be 21m bitcoin .
Bitcoin is inevitable, what is also written in the stars is the naysayers continued attacks , time and time again the tired old bitcoin scare stories are proven little more than hot air as so elegantly highlighted by our own resident doom monger .
You get bitcoin at the price you deserve , put the work in and it’s very obvious that eventually the bitcoin standard wins , skim through a few MSM poorly researched articles and you sit on the sidelines convincing yourself the fiat system is safe .
Some weeks ago I warned of the dangers of the reverse repo drain , as I suggested March was looking to be a month when the banking system in the USA came under pressure. I’m still very comfortable with that prediction, ids no coincidence both Gold and bitcoin are moving higher as those who understand the shortcomings of the system look to get out of the central bank Ponzi .
The other for asst I will make is no matter what the FED and other central banks say they’ll be forced to pump $10- $15trn into the system to save it . A very sizeable proportion of that will end up in Bitcoin.
I also said in 2024 at least 3 additional nations would put Bitcoin on there balance sheets….. Mr 100 is almost certainly the first , $3.2bn and growing every day .
There will only ever be 21m bitcoin, the cap on $£€ and gold are unknown, bitcoin is the hardest asset known to man and it’s node network continues to validate that every 10mins 24/7/365 .
Have a good Sunday everyone .
US GDP "Grew" $334 Billion In Q4... That Growth Cost $834 Billion In Debt
Some still call bitcoin a ponzi, but to anyone who’s taken the time and effort to look at the bigger picture it’s clear what’s the real Ponzi .
There will only ever be 21m bitcoin. How many $€£ will there be ?
I’m seeing ever more bullish price predictions from influencers and YouTubers , I think we all need to remember these ppl need clicks, when the excitement kicks in the higher the price predictions the more views they tend to get . We saw this in the last cycle with the same ppl calling for $350k-$500k bitcoin. It will pay to spend some time doing the maths to come up with your own price target, it’s actually pretty straightforward, then give a margin of error +or - 25% . Remember nobody calls exact top or bottom so having a figure to work to is a good way to at very least ensure you walk away with the bulk of what’s available.
I spent most of last night reassessing the situation with the most up to date information, I’ve a call option @$53k for around the having (20th April) which is currently looking pretty good but I hands up I’m becoming increasingly concerned we have come too far to fast .
The ETF’s had there 3rd best day on record yesterday, this is almost self for-filling in as much as fund managers performance will dramatically lag if they don’t put a Bitcoin ETF in client’s portfolio.
Interesting, exciting but always considered both sides of the trade , nothing goes up in a straight line and the few that defy that tend to head down just as quickly.
The 100 coin a day whale has now amassed 47k+ bitcoin, is it a sovereign wealth fund, a nation or just a super rich investor? If we ever find out it could boost bitcoin further. my guess is a Middle East sovereign wealth fund but that’s a pure guess based on interest shown in mining in that area of the world.
Today’s mood , cautiously bullish.