Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Final prospectus shows how the net money raised will be allocated for spend.
Page 11:
Estimated amount of Net Proceeds £84,269,294 being the equivalent of $116,342,188 (based on an exchange rate of £1 to US$1.3806).
Page 65:
The Company is currently developing a new 200 MW mining facility on the newly acquired land.
Phase 1 of this development is currently in progress, comprising and expected to be completed in the first half of 2022, and includes the electrical interconnection, infrastructure and machine hosting facilities that are expected to support 100 MW of power capacity using immersion technology, at an estimated cost of $50 million.
Phase 2 of this development, which is expected to be completed in the second half of 2022 and is expected to support an additional 100 MW of power capacity using immersion technology, at an estimated cost of $30 million.
The costs of these facilities have been covered from the Company’s existing cash resources and the net proceeds of the Fundraising.
These estimates do not include the cost of the mining machines that the Company will operate at the new mining facility.
Page 88:
The Company anticipates the Net Proceeds being used, in the following order of priority, as follows:
Partial repayment of the New Galaxy Term Loan. £18,108,069.
Development of Texas facility. £60,000,000 .
General working capital working capital and general corporate purposes £6,161,225 (including for the purchase of new machines), possible acquisitions that may be identified following the date of this prospectus and other incremental?growth, including investments in DeFi projects and other initiatives.
The Company anticipates the above net proceeds will be deployed as to the partial repayment of the New Galaxy Term Loan by 29 October 2021 and as to the balance within 12 months of the date of this document.
https://argoblockchain.com/wp-content/uploads/2021/09/Argo_Final_Prospectus.pdf
John, as Sprogbarnes says you really should not be investing in a Stock which mines an Asset if you are questioning the asset it mines at all. Many here are seeing BTC as a lot greater than 60K in a few months.
If you have a 6 month horizon then you either believe in Bitcoin = 100 - 200k+ at peak in that time frame or you don't. This is fundamental to investing in ARB. the rest is secondary.
Yesterday (DMGI.CA) DMGI Blockchain Solutions’ earnings call referencing Argo on Terra Pool status update (* Transcript below).
It is worth noting that:
1. They are headquarted in British Columbia, which is West Canada.
2. Peter Wall’s video today was from West Canada today and he said there will be more.
3. They are also developing immersion cooling.
4. There was rumour about tie/up / merger a while ago between them and Argo.
Could all be a complete coincidence of course…
* Transcript below:
In DMG Blockchain’s earnings call yesterday morning, they gave an update on Terra Pool’s status being worked on with Argo. These are the relevant excerpts:
“…. Terra Pool, it's pretty close to being launched with our partners, Argo -- Arco Blockchain. It's slipping a bit mainly just do the heavy schedules of DMG and Argo. As a partnership, there's a lot to do to put a pool up and I think we're pretty close to it. I know that on the IT side, our CTOs has been busy, spinning up all sorts of things that you need to do, or with Amazon and Google and so on and so forth. So, I think we'll have an announcement out on Terra Pool soon. And the demand for a clean energy pool is not waiting. They are people waiting to be able to join this pool. So, we're pretty excited about that,
… The next question is the request for an update on what's happening with Terra Pool. ….
Okay. I think I kind of gave one earlier. Terra Pool is still on track. It's a bit slower. DMG have been very busy. We only have so many people per company I could do so much. And as you can see, we have a very full plate on the software side. So, Terra Pool is coming. Just be a good patient. And we're looking forward to launching it hopefully this month. I will continue to harass my CTO and I know that Peter over at Argo was harassing his as well. “
You can read the whole conversation here but do have to register:
https://seekingalpha.com/article/4453103-dmg-blockchain-solutions-inc-dmggf-ceo-sheldon-bennett-on-q3-2021-results-earnings-call
This suggest Institutions are not shorting ARB in the UK, as Argo are not in the list.
https://shorttracker.co.uk/companies/
But, I can see that the data source is from the FCA's daily short positions report, so they could be shorting and covering before the end of the day?
Using that link
https://fintel.io/ss/us/arbkf
it shows 23.52% yesterday for all the ARBKF shares traded through FINRA Traded shares - those through the (Financial Industry Regulatory Authority) of US, 23.52% were trades marked as Short Sales.
But! - I started looking through the info for comparisons and RIOT was 34% , MARA was 27%, BITF was 50%, HUT8 was 54%.
And! - also AAPL was 41%, MSFT was 54%, GOOG was 49%, AMZN was 42%, FB was 37%, TSLA was 40%.
So, what does this tell us?
There is just a lot of shorting - especially in US??
Is it just what makes the market???
Other????
@Lottohopes Yes, Machines are in train and due soon too, that is the key addition.
Also, Thanks for info pointer earlier on Soluna, (I did not know of them) - when you said "50MW coming online in 6/12 and a further 50MW in next 6/12,". It really does look like they will be ARgo's partner for renewable power generation at the Helios site, through MTI their new owner.
Where we are at:
We're now obviously waiting for the rns of IPO & dual list which will be any day from tomorrow to max. of 6 weeks away.
1. As per rns of 21st July (Submission of Confidential Draft Registration Statement for Proposed Offering):
"proposed dual-listing and initial public offering"..."expected to commence in the third quarter of 2021".
AND
We are waiting for update on Texas to come too as:
2. PW’s video of 16th July (introducing Perry):
“A couple of things to look forward to in the coming weeks:
We’ll have an update on Texas, I know a lot of you are/have been asking for that. Our ESG climate Strategy will be coming out.
A few other things in the pipeline which you’ll hear about.”
Today's Climate Strategy and Report satisfies the ESG portion which will be important for IPO for Investors.
I am thinking we now have 3 probable income streams from Texas:
1. Mining, very efficiently with the advantages of immersion cooling, initially at 100MW, then to 200MW by end of 2022.
2. Hosting Power generation.
3. Hosting other Miners machines in the balance of the facility until we build all 800MW out.
Anyone like to take a stab at the "numbers" on this?
(Also, is there anything to stop us applying for permission to build beyond the 800MW, at West Texas, too as we progress?!…)
In todays video from PW see the slide at 2 mins 35 secs:
Very interesting, confirmation we’re going to be involved in power generation!
“Argos Climate Roadmap.
Expansion Begins in West Texas.
Argo purchases “Helios” project in West Texas to use renewables nearby and host renewable power generation at site. “
https://www.youtube.com/watch?v=angeBp-fxCs
@600Thieves,
I just had a quick check, using Argo's search RNS facility but couldn't find any of those entities.
Equally I got no search results for "TR1" either with I thought is strange. Have we never had a TR1 rns?
I am thinking now - Where is the source of information saying retail investors owned 95% of the company? - as we need to check that too.
600Thieves, that raises a question for me:
Shouldn't we have had TR1 notifications for all those individually over 3% ownership? (or am I missing something?
Those would be:
First Investments Holding Ltd 40,500,000 (10.61%)
HBOS Investment Fund Managers Limited 23,859,291 (6.25%)
Merrill Lynch & Co. Inc., Banking Investments 23,233,937 (6.08%)
Amplify Investments LLC 20,446,985 (5.35%)
A J Bell Holdings Limited, Asset Management Arm 16,286,502 (4.27%)
Interactive Brokers Group, Inc., Asset Management Arm 13,520,834( 3.54%)