Member Info for WolfofWarks

Have you ever considered a career in politics?

Haha very good.

No good comes from shopping on your own when it’s quiet.

Remember that Michael Jackson documentary with Martin Bashir.

Yep BOO has had a large drop as well.

Good news at last.

I’ve had this one in the bottom draw so haven’t really been paying attention recently.

I've been having a look at the balance sheet and if you look at current tangible assets and new right is use assets (which has to be the 4500 new machines on two year lease) I reckon somewhere between £800-900k per month so I'd say your figures are spot on.

I think it would be prudent to expect a ramp up in general overhead due to the increased activity, plus the amount of promotion that has been done may be slow of late but was heavy particularly in Q1. It's also worth factoring in increased legal costs due to the placings, raisings, etc. More machines surely means more maintenance, more engineers, general tech costs, etc.

The big unknown is the profit/loss on revaluation in relation to a) bitcoin price and b) exchange rates conversion from USD to GBP.

I still think if we have a PE of 10 something has gone serious wrong and I don't think we are particularly undervalued given current price of bitcoin and considering the share price twelve months ago, I posted yesterday about the 52 week low being something like 3.15p.

I don't think this is boring at all by the way. The devil is in the detail.

Kallumana - you're talking nonsense. Have you seen some of the big bank earnings that have been released this week? Deposits have gone through the roof. The middle classes wealth has swelled through the pandemic.

Online has killed retail, most town centres are restaurants and coffee shops.

It was a cross ramp on another board that bought a group if us over here from SYME.

We're sociable animals so while things are quiet I quite like reading about other things going on and take an interest in what people are up to.

Hi Hexam - From the brief look I've had through the accounts it looks like 2020 gross margin was 20% . In terms of hosting and other costs I assume these are the direct data centres costs (rent, rates, licenses, maintenance, etc) and the electricity costs. So again having a very brief look we have 4500 new machines on a two year lease with a market value of $10m, which will be written off over 3 years.

Without knowing how closely these costs are correlated to actual mining activity it's hard to make a judgement I would say.

One things clear though going through some of these RNS and the report in the accounts the operational side of things is going very well. I think if sellers took another look and didn't obsess over the SP daily we are in buying not selling territory.

The accounts are also a reminder that bitcoin halved in value last year as well dropping from $8,000 to $4,000.

The gross margin is not the mining margin the PE will be a lot higher then 10.

The gross margin takes into account depreciation on the mining machines (3 year write down) and any Bitcoin price fluctuations between the opening and closing period.

The mining margin is simply the coins mined less electricity and hosting costs.

One things for sure the PE will have come down a lot and but the operations of the company remain the same so surely must be a bit at this level.

‘hold both ! physical gold my preference’

2857mal - Exactly it’s not a binary choice. For me I’m not a believer that crypto is going to become mainstream but it is another place to park your cash in order to diversify.

DB is a wealthy man but I doubt he’s anywhere near worth £1bn.

My whole PF is having a terrible week so far.

It seems clear as day to me know that now hedging in fiat was a massive mistake which has cost shareholders dearly. It’s basic business sense when dealing with any kind of volatile element in any normal business, but Argo is a crypto business that’s running against normal wisdom.

I still think long term this is a good investment and Bitcoin has always been subject to massive peaks and massive troughs so is not for the faint hearted.

I’m now waiting for the bottom to have another top up but am going to be patient this time as it looks like this might have some way to go still with no expected catalyst. Even at current price levels this has still been an amazing year for anyone who was on before Xmas (not me).

From HL:

52 week high - 312.5
52 week low - 3.55

Incredible story so far. If you’re selling out through impatience then maybe think again. What could happen in the next twelve months?

I’m not woke but one of the young millennials in my office has converted me to oat milk.

iPhone screen and ig app for live prices!

Hi Swanny

Who do you use for your CFDs? I’ve looked at putting one on for TED and they wanted 50% margin.

One thing I’ve learnt in the small cap markets is whenever there is a huge spike not backed up by news or fundamentals take something off the table.

This is going to be a regular theme with stocks that have done well during COVID. This years results playing against a strong comparative.

Canary doesn’t that happen though.

Look at here and the us at the moment.

I’m in other shares. Senx for example had a massive gulf in valuation between the AIM and polish exchange.