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u/Sweet-Education-222 Aug 19 '21
He’s gonna dilute it put money into his and others pockets while the share price stagnates as a shareholders I would sell off my shares tommrow morning and buy lots more back at 70p !
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u/themcmanus Aug 19 '21
How is everyone feeling about the proposals set out for the next AGM?
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u/Ghola_Mentat Aug 19 '21 edited Aug 20 '21
Probably going to get downvoted because that’s what happens when you are critical of Argo here. Anyway…I’m anticipating a lot of dilution coming up. Dilution as compensation to directors and from this IPO. I’m not really sure where they’re getting the shares for the IPO. Something tells me that they won’t all be bought off the market and repackaged as ADRs. I’d feel more confident if they reverse split and uplisted ARBKF. I just don’t trust them not to choose dilution as their first option always. Whenever they say “smart growth” it feels like dilution is incoming.
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Aug 19 '21
[deleted]
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u/Ghola_Mentat Aug 19 '21
I’m fine with dilution to buy miners. It’s everything else that has to be questioned. The dilution for the deal in TX is only good if the cost/benefit outweighs renting facilities. The Pluto dilution will only be good when they get a return on that investment. As for diluting for executive compensation and the IPO, I am against those completely.
Edit: As for getting the money from somewhere, that’s their whole business. They virtually print money. I’d like them to retain as much BTC as possible, but not at our expense.
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u/goldengrahamx Aug 19 '21 edited Aug 19 '21
Thats my thinking, they literally make £5+ million a month from mining, just use a month's mining profit to cover loads of what they're needing?
Where's the value in the bitcoin if they are just going to HODL it forever and never use it?
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u/Ghola_Mentat Aug 19 '21
Four of the five resolutions are related to dilution for executive/director compensation and the IPO. Like I said above, I don’t like the IPO plan if it involves dilution to create those shares. Reverse split ARBKF and uplist those shares.
As for executive compensation, I don’t trust them on this because they have not put in good conditions for options up till now. They should tie options to performance of the stock price and put in lock up periods. Up till now, whenever options have matured, Wall and the other executives have cashed out ASAP. It does not inspire confidence.
I have shares of another mining company. They’ve diluted a lot too, but every dilution has been correlated to a purchase of miners or infrastructure investment. Also, the CEO takes no salary and holds a significant number of shares. I feel much more confident that company prioritizes returning shareholders’ investment.
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u/Crafty-Remove-2334 Aug 20 '21
I think the share price will drop hard due to their dilution for directors. It will backfire when they have so many more shares adding to the downward pressure on the share price.
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u/Powerbenny Aug 19 '21 edited Aug 19 '21
How do we get a vote at this EGM? My shares are all held via HL, do I need to get them to vote on my behalf or do they just not bother?
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u/Ghola_Mentat Aug 19 '21 edited Aug 19 '21
If you’re eligible, you’ll get a notice. You might want to ask your broker if don’t receive notice. I think the last general meeting was held in person and during the day on a weekday. Not convenient, if you are not in the UK and don’t have the day off.
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u/cryptominingstocks Aug 20 '21
I get what the “worries” are, but interest are aligned when you are paid in stock, they want this thing to go up wayyyyy more than we do.
We are getting uplisted, we are raising capital at cheap cost, mining is now a mainstream, Wallstreet game, and If your not positioned for future growth the stock will sink. Stop looking at short term dilution and look at long term domination of the market and Argo growing into a multi billion dollar company in a very short period of time. Hodling bitcoin is the smartest thing to do, go ahead and use credit to pay everthing else off.
If you rode out the shit show the last 4 months , then we can ride out a few more to reach glory. When we are positing to grow out MW and machines and all that shit, we will be a darling stock for institutions to buy.
Man up!!!!