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Argobull - Here is the link i used - https://www.finncap.com/research-portal?#/portal/finncap
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There are a lot of good posts about the need for dual listing and I completely agree we should be on a level playing field with our peers .
On Twitter -https://twitter.com/argoblockchain?lang=en
You can ask Argo’s CEO a question , the more investors who suggest dual listing , the more likely it will happen .
I know it is something they are researching , so could be perfect timing .
HI all
The £25 million transfer from the share premium account to the profit and loss reserves means £25m moves from non distributable reserves to distributable reserves, therefore it does allow a dividends, but you need to the cash in the bank to pay it.
My educated guess is that hodl will go up in the short term and they will look at a dvidends in late 2021 .
It’s a typo 100%
Follow the link to companies house
https://find-and-update.company-information.service.gov.uk/company/11097258/filing-history
Look at the number of shares on the filing document
Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), is announcing that, further to the announcement on 3 November 2020, the High Court of England and Wales has confirmed the reduction of the Company's nominal share capital by way of cancellation of the share premium account on application from the Company.
On 23 November 2020, the Registrar of Companies registered the order of the High Court confirming the Capital Reduction and the related statement of capital approved by the High Court, whereupon the Capital Reduction became effective.
The Company confirms that, following the Capital Reduction, the issued share capital of Argo comprises 239,750,000 ordinary shares of £0.001 e
After being in this share for awhile now , I believe we are at the beginning of a fantastic 12 months . We might have a few bumps on the way , but we should (will) be many multiples of today’s price .
I realise some of us might want to sell , to realise their gain , but if you can sit on your hands and enjoy the ride for the next 9 to 12 months , I think we will all be rewarded .
News to come
November update
Gpu acquisition
Dual listing
Good luck all , especially the LTH’s
Argo loves a Tuesday RNS so i would say 8th December at the latest for the update.
I really believe we will hear about GPU or dual listing by Christmas, for me this is an easy hold until early 2022, 2021 is going to be an amazing year for bitcoin and ARGO..
I know a lot of traders are saying there will be a 30% pull back in btc price, but i just dont see it, paypal, cashapp, greyscale, all buying more coins than are being mined, more digital funds coming on board in early 2021 and then you have the occasional billionaire buying.
Paypal is making it easier to buy bitcoin, this has always been a barrier for retail investor but more importantly Paypal is a trusted brand and this minimizes the issue of being hacked and losing your life savings. So I believe btc will fly.
ARB is perfectly placed for investors who want exposure to bitcoin through their ISA or SIPP.
Perfect storm
Duke -
Did you read that paypal and cashapp are buying more coins than are being mined and paypal is only offering this service to 20% of its customers.. in 2021 they are going to offer it to other 200 million customers on their books.
Then you have greyscale buying anything they can get their hands on ..
Good luck
The HODL figure of ARGO has gradually gone up, which is a good sign, but they balance their hodl figure against working capital expenses, LTH's are expecting to see a gradual increase in HODL for at least 12 to 18 months.
One thing i would say , if the HODL decreases, this could be due to the GPU Purchase or costs towards duel listing.
Since Peter took over we have seen a number of significant changes, changes in personnel, old directors being replaced with more competent directors. It was a shame James the FD left, but he chose to work with David Beckham instead of Peter (who would do that).
Since April, the management have made a conscious decision to make the business margin led instead income led. This means tighter control of costs and from an investors point of view, music to our ears. Sometimes the number of mined coins was lower than we expected but the margins were higher and our margins exceeded most if not all of our peers.
This decision was mentioned three times in the interim accounts, ‘increasing our margin operations’, ‘improve average mining margin’ and ‘development of proprietary machine optimisation tools’.
3rd Party managed services
I haven’t got a good knowledge of crypto miner rigs or optimisation and I always assumed our margin was better than the rest as we had the latest rigs and therefore an advantage over our competition. But in the latest RNS, a 3rd party has probably spent upwards of $8milllion dollars on new rigs and Argo are managing these rigs, my educated guess is that we are using the ‘in house optimisation tools’. For me this is a fantastic secondary income stream, one I expect to grow.
I am prudently estimating a monthly income of $75k and minimal associated costs it is likely the manual labour costs will be covered by looking after our own machines.
For a wealthy company to start mining, buying the rigs is relatively easy, finding someone to host them isn’t rocket science, but to start from scratch and maximise margins is difficult.
Argo has proof of the optimisation tools from their monthly figures and soon it hopefully will have proof of optimisation from a 3rd party as well.
Lease Deal
This deal is perfectly timed (delivery in February) and per the RNS on ‘extremely competitive rates on hosting and power.’ Which implies to me that it is the same or better than we have now.
After looking at the numbers and based on a flat $20k btc price in 2021 and difficulty rising throughout 2021, I believe Argo will make a prudent net monthly profit of around £500k , so £6million in total for the year. Off course a lot of btc experts are predicting much higher bitcoin prices in 2021, which will increase the bottom line.
So from the managed service contract and the lease deal, I estimate £6million net profit
We obviously have the other 16,000 rigs and my best guess based on the same criteria as above and the enhanced margins from the GPU deal we could be looking at £ 7 million.
In Total £13 million, based on CONSERVATIVE estimates, if btc rockets earlier and stays high we could be looking at very silly figures
Since Peter took over we have seen a number of significant changes, changes in personnel, old directors being replaced with more competent directors. It was a shame James the FD left, but he chose to work with David Beckham instead of Peter (who would do that).
Since April, the management have made a conscious decision to make the business margin led instead income led. This means tighter control of costs and from an investors point of view, music to our ears. Sometimes the number of mined coins was lower than we expected but the margins were higher and our margins exceeded most if not all of our peers.
This decision was mentioned three times in the interim accounts, ‘increasing our margin operations’, ‘improve average mining margin’ and ‘development of proprietary machine optimisation tools’.
3rd Party managed services
I haven’t got a good knowledge of crypto miner rigs or optimisation and I always assumed our margin was better than the rest as we had the latest rigs and therefore an advantage over our competition. But in the latest RNS, a 3rd party has probably spent upwards of $8milllion dollars on new rigs and Argo are managing these rigs, my educated guess is that we are using the ‘in house optimisation tools’. For me this is a fantastic secondary income stream, one I expect to grow.
I am prudently estimating a monthly income of $75k and minimal associated costs it is likely the manual labour costs will be covered by looking after our own machines.
For a wealthy company to start mining, buying the rigs is relatively easy, finding someone to host them isn’t rocket science, but to start from scratch and maximise margins is difficult.
Argo has proof of the optimisation tools from their monthly figures and soon it hopefully will have proof of optimisation from a 3rd party as well.
Lease Deal
This deal is perfectly timed (delivery in February) and per the RNS on ‘extremely competitive rates on hosting and power.’ Which implies to me that it is the same or better than we have now.
After looking at the numbers and based on a flat $20k btc price in 2021 and difficulty rising throughout 2021, I believe Argo will make a prudent net monthly profit of around £500k , so £6million in total for the year. Off course a lot of btc experts are predicting much higher bitcoin prices in 2021, which will increase the bottom line.
So from the managed service contract and the lease deal, I estimate £6million net profit
We obviously have the other 16,000 rigs and my best guess based on the same criteria as above and the enhanced margins from the GPU deal we could be looking at £ 7 million.
In Total £13 million, based on CONSERVATIVE estimates, if btc rockets earlier and stays high we could be looking at very silly figures