Argo Blockchain Share Discussion Threads

[aidenabettin] 29/4/2020 08:24

Smaller miners will need to see $BTC double after halving or they will be shaken out.12 days to go to $16k?.Happy days

[aidenabettin] 29/4/2020 08:15

hTTps://finance.yahoo.com/news/first-mover-stablecoin-surge-might-112624665.html

[mcfly79] 29/4/2020 08:06

And more machines have been added in April.

[mcfly79] 29/4/2020 08:05

This paragraph shows the step change in revenue now all the new machines are in place. £6m revenue in Q1 2020 compared with £8.6m for the whole of 2019.


'Argo entered 2020 with a clear business strategy and its mining operations continue to gain momentum as new production capacity is brought onstream. As announced previously, 918 B itcoin were mined in the first quarter of 2020, more than double the number produced in the previous three months, resulting in £6m revenue based on average BTC prices for Q1 2020.'

[scrutable] 29/4/2020 08:00

Net asset value 7.7p share and all debt repaid by June. We also have long known, now confirmed that Q1 2020 production generated cash at 280% of the average month last year. Things are curently even better with rising BTC price about to break through $8000. All looks very good to me.

[aidenabettin] 29/4/2020 08:00

I would agree with the undervalued given that BTC is going to rocket in the next year.Could be a new power deal coming up imo

[sunnysideup1] 29/4/2020 07:58

You cant pay a dividend out of thin air. If they do well this year after halving they might pay one. This company is still very young and they have massively grown revenues and reduced loss. Its following the classic growth trajectory of a start-up.

year 1 -set up
year2 - launch and ramp revs
year3 - generate profit


It is not an exciting statement because they dont want to hype it - which is refreshing. i come across so many smallcaps which just spin their story. these guys are letting the figs tell the story.

[parsons4] 29/4/2020 07:57

topafrenzy what planet are you from ????? These were fantastic results in every way, this is the most under-valued company I have ever seen in my 50+ years of investing in the stock market. That's it GLA

[suffersnofools] 29/4/2020 07:54

I agree but still very early for Argo and they're (rightly) focusing on their mining capability at the moment.What would of been helpful is clear guidance on future strategy re dividends.

[aidenabettin] 29/4/2020 07:51

Dividend from a $15M mkt cap company?

[mcfly79] 29/4/2020 07:49

Good results,

The figures are in line with what I was expecting.

It looks like they have paid a £4.1m upfront deposit for power costs (shown under non-current assets on the Balance Sheet and in account note 19). I assume this can be used against power costs going forward.

Without this cash and crypto assets would have been over £5m.

Should see strong cashflow this year.

BTC closing in on $8000.

[topazfrenzy] 29/4/2020 07:45

I really want to see a dividend here otherwise there is no point in holding it, you can just buy BTC or some other cryptos (which I have of course) if you just want the price to go up

Shareholders need to be paid back for holding

[aidenabettin] 29/4/2020 07:41

But they will see a big increase in volume after halving .Got to grow the capability.I agree I put more into BTC than here but still a sound investment imo

[topazfrenzy] 29/4/2020 07:40

Zero energy in that statement, you could not make it sound less exciting if you tried lol

[aidenabettin] 29/4/2020 07:40

Spending money wisely by the looks of it

[topazfrenzy] 29/4/2020 07:39

These are NOT good results

getting fed up with this team in fact

Best to invest in cryptos directly as no mention of dividend or anything of much value so what is the point in holding

and they still made a loss for the year ...

[aidenabettin] 29/4/2020 07:39

Many small miners will give up after halving .Looking good here with a fine set of results.Well done

[garth] 29/4/2020 07:38

"Cash balances were GBP0.16m as at 31 December 2019 (2018: GBP16.39m) and short-term loans relating to new hardware purchases amounted to GBP1.1m as at that date. The decrease in cash balances reflects a GBP15m investment in mining infrastructure. Cryptocurrencies held at the year-end amounted to GBP1m.

As at 28 April 2020 Argo held GBP1.5m cash and GBP0.8m in cryptocurrencies based on yesterday's closing price. The short-term loans outstanding at the year-end are on track to be fully repaid in June 2020."

So, £15m invested, depreciation of hardware accounted as cost of sales. And £1.34m positive cashflow first 4 months of the year.

That is what I wanted to see.

Anything I have missed from what was, admittedly, a quick skim?

Ship looks in good shape to me to ride the wave up next few months...

G.

[timberwolf3] 29/4/2020 07:35

Looks pretty good to me, what a difference a year makes.

[jumpenjim] 29/4/2020 07:25

Not a bad position to be in ! in this climate/current economic situation ?

jj

[aidenabettin] 29/4/2020 07:25

Volume low 430M/24hrs.ETA for halving.12d 9hrs

[aidenabettin] 29/4/2020 07:22

Blocks below 2000 (1893) to halving.BTC $ 7910

[parob] 29/4/2020 07:18

And BTC very close to smashing through $8000.

[lithological heterogeneities] 29/4/2020 07:13

Argo Blockchain Plc, a leading UK-based cryptocurrency miner, (LSE: ARB), is pleased to announce its audited results for the year ended 31 December 2019.

Financial highlights

-- Revenue increased by 11-fold to GBP8.62 million (2018: GBP0.76m)
-- Gross margin increased to 35% (2018: -54%)
-- Operating loss reduced by 80% to GBP0.83m (2018: GBP4.14m loss)
-- EBITDA* amounted to GBP1.3 9m (2018: GBP3.66m loss)
-- Net loss attributable to shareholders declined to GBP0.69m (2018: GBP4.12m loss)

Operating highlights

-- Successfully transitioned from a consumer-facing 'mining-as-a-service' to a proprietary mining model in response to challenging industry conditions in Q1 2019

-- Executed a GBP15m capital investment program to establish one of the world's leading cryptomining platforms by a company listed on a major stock exchange

-- Total number of Bitcoin (BTC) mined was approximately 1,330
-- Mining hardware in production increased by 306% to approximately 7,000 by year-end
Post period highlights

-- Total mining hardware in production increased by 10,000 to 17,000 machines in Q1 2020 and on track to reach approximately 18,000 or 730 Petahash (PH) capacity shortly.

-- Appointed new leadership team in January 2020 under executive chairman Ian MacLeod and chief executive Peter Wall to drive Argo's next phase of growth and development

Commenting on the results, Peter Wall, chief executive said:

"Despite challenging trading conditions in 2019 we have successfully executed a strategic transition from a consumer facing business to emerge as a significant cryptocurrency miner listed on a leading international exchange.

"Having completed a major expansion of our mining infrastructure Argo is on track to deliver strong growth in the first half compared with the corresponding period last year. We entered 2020 with considerable business momentum and an efficient mining platform which puts us in a favourable competitive position to navigate the evolving and dynamic cryptocurrency ecosystem."

[lithological heterogeneities] 29/4/2020 07:05

RNS out.


Fantastic results this morning !

Financial highlights

-- Revenue increased by 11-fold to GBP8.62 million (2018: GBP0.76m)
-- Gross margin increased to 35% (2018: -54%)
-- Operating loss reduced by 80% to GBP0.83m (2018: GBP4.14m loss)
-- EBITDA* amounted to GBP1.3 9m (2018: GBP3.66m loss)
-- Net loss attributable to shareholders declined to GBP0.69m (2018: GBP4.12m loss)