Member Info for Wmsjames

Triggerboy - just an educated guess,, H1 were September last year ,, august update should be v good ..

All the best

What a great positive day, ARGO is slowly starting to be noticed by more and more investors.

I think September is going to become my new favourite month.

BTC price will continue to increase and with it more media attention

H1 results are due, i am confident they are going to show a very good EBITDA , this will truly show how undervalued we are compared to our peers.

August trading update - we have all been counting down to this one..

I am guessing we will hear about some more rigs being ordered, do we go ZCash route or bitcoin or something new.
and possibly a curve ball will be announced.

Good luck to everyone invested and stay safe

Big buys , but no big movement in SP

My guess is 45% margin , I think 165 coins

HI all

Here is a rough guess for August figures

During the month of July, Argo mined 165 Bitcoin or Bitcoin Equivalent (BTC) compared to 180 Bitcoin Equivalent in June. Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in July amounted to £1.25 million (June 2020: £1.41 million). Argo generated this income at an average monthly mining margin of approximately 34% for the month of July (June 2020: 27%).

Sales £1.25m
Cost of Sales (£825k)
Margin £425k

So 165 Bitcoin equalled £1.25million –(£1,250,000/165) average bitcoin price £7,575, so in dollars (£7,575*1.20) = $9,090…

Let’s say they do 165 bitcoin in August the same as July, okay average btc price $11,500

So 165*11,500*0.8 = £1.518m for August which is £268k greater. (£1.518m-£1.25m)

Lets assume 10% of £268k goes to Cost of Sales.

August Sales £1.518million
Cost of Sales (£825k+£27k) (£852k)
Margin £666k
Margin % 44%

Hi all

We started the week with a sp of 6.65 and ended with 7p, pretty impressive, when we have had no news and btc price was around 11,850 Monday and now around 11,700.

This time last month, Argo's share price was 3.55p and now 7p , i will be very happy is the sp is 14p on 21st September.

Have a great weekend and stay safe

Its the perfect storm for ARGO, margin led, cash in the bank and as the price of btc goes up, at least 75% of the increase in value goes to profit.

We see a lot of predicted SP's on this BB, some of them seem very high, but if you google bitcoin news and start understanding the mass adaptation that is happening, you really start to appreciate how low this business is valued.

my sp target within 6 months is 20p, which is i expect to hit when btc gets to around $15k.

Completely agree Arkonite , usually we would have dropped and dropped more..

This autumn and winter are predicted to be huge

I also attended the call, thank you Torham for your summary

For me, the standout things were

Margins – Peter mentioned that ARGO are margin led and not income led (also included in June RNS), for me this was the standout news. To be margin led, the ARGO team need to be very cost conscious and work as a team. For me, this makes them the stand out business in the sector.

They have already documented that they are reducing the general overheads and administration expenses, to now have joined up thinking at the margin level , is great.

So on the monthly updates, we need to focus our attention on the margins not the income.

Cashflow - Whilst we didn’t have a direct conversation about cashflow, he did give information about creditors being paid within 60 days, which is a massive improvement compared to 31st December 2019 position, where I believe it was more like 90 days.

Lip Service - I truly believe Peter takes on investors suggestions for improvements, he definitely doesn’t pay lip service to people, this is very rare for a CEO to be so engaged with its retail investors. Especially a CEO who is based half way across the world.

Long term – One of my concerns was Peter’s future at Argo, but he gave many assurances in the call that he wants to build a solid business based on making good long-term decisions. I was very pleased to hear this.

Finally, Peter is a very smart guy who cares a lot about us, investors and his team. Whatever decision he makes in the future about dual listing , rig purchases and share buybacks, I will support them as I believe he is making them for everyone’s best interest.

stay safe

Btc and zcash both doing well , what a great way to start the week .

If this trend continues we should see 7p very soon ..

Hi triggerboy - per the last set of accounts , the 10% holding was worth about £1.4million .. it was a smart move owning part of your biggest supplier .

Another Great Post Billfunk.

We have seen a lot of new investors over the last 2 weeks and btc hasnt consistently breached $12k yet, just imagine when it breaches $15k and then a new all time high..

We have all caught this bubble early and now we can sit back and enjoy the ride.

stay safe

Great post Arkonite - I am more for a dual listing but do agree with on the London standalone comment .. having a stand-alone uk listing could be advantageous, but like you and others have said , we need to invest in some good PR and marketing to the UK audience ..

To be fair , it only takes a couple of big well known posters on lse and on twitter and the sp will multiple .

Based on current zcash value , we should be making £500k profit in august from zcash alone .. a lot of positives

A realist supports their comments by facts, looking through your post history, it appears you have a negative slant on all your investments, maybe investing isnt for you..

spitfire - do you own shares in Argo

Thank you bill funk and betrader, come September when my kids back at school , I will definitely help you , assuming you need any assistance .

Really appreciate your efforts .

Thank you

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

During the month of July, Argo mined 165 Bitcoin or Bitcoin Equivalent (BTC) compared to 180 Bitcoin Equivalent in June. This takes the total amount of BTC mined year-to-date to 1,834 BTC.

The reduction in the number of coins mined in July compared with the number mined in June was a result of a rise in mining difficulty mid-month. Argo continues to mine at the most cost-efficient mining settings and is pleased with the overall mining performance given market conditions.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in July amounted to £1.25 million (June 2020: £1.41 million). Argo generated this income at an average monthly mining margin of approximately 34% for the month of July (June 2020: 27%).

At the end of July, the company held 76 BTC in Bitcoin and BTC equivalents, in accordance with the Company's asset management strategy.

Argo's total mining capacity stands at 18,000 machines and 730 Petahash in addition to 280 Megasols of equihash mining capacity.

Peter Wall, Chief Executive of Argo, said: "We are delighted the month of July saw Bitcoin break through the US$10,000 barrier as this will have a material and positive impact on our mining margins going forward if the price stays above this level. The directors consider Argo to be one of the most efficient miners in the sector and well placed to capitalise on the increase in the price of Bitcoin as a result."

This announcement contains inside information.

Completely agree with this post , btc and zcash values were considerably lower in July and we know Argo sell into the market regularly each week ..

A big unknown for July , is whether peter and his team has ran the rigs at a cheaper rate to avoid losses and to play it safe , we saw this in June .. difficulty also went up in July which will also affect the results .

The future is very bright and I am very bullish on Argo for so many reasons , but it is important to recognise Julys result probably won’t be spectacular.

I think Peter's Wall plan is to keep adding in small amounts to the number of machines, it will be interesting to see how many he picks up from distressed sellers.

As the price of BTC goes up, most of the rise will go to the bottom line. August is going to be a great month, Zcash could represent 50% of the profit from 30% income, off course this will change if btc moved north.

Thanks fatcatz very detailed post ..

What margin are the zcash machines running at ? Do u know