[Havelock Investments] - Havelock Mining Fund (HMF)

[itsunderstood]

I don't think the last two posters understand what this security is about.
It's a mining fund, so the dividends are likely to be high at times then slowly decrease, at least until a new hardware investment cycle. There is nothing wrong with that, but you have to understand the influence it will have on dividends and share prices.
With mining funds, the price of bitcoins has very little influence. Difficulty does, but prices getting higher do not diminish the fund revenue, and actually make it able to buy more mining equipment with its funds.

Looking at the financials (quarterly), this thing has been in the red for the  entirety of 2013.
q1 (-฿126.1515)
q2 (-฿233.8544)
q3 (-฿158.4161)

That's something to understand.  A mining fund paying *more* in dividends than it makes mining.
This month shows a 14 BTC profit, last month was ~123 BTC loss.  Next month will be a loss (difficulty rise, no new equipment coming online that i can see).

Now, bothering to open a pdf & looking at the most recent (Sept) breakdown:

Assets: 50 BTC in coins & 480 BTC in mining gear, total of 530 BTC.

What's the 480 BTC worth of mining gear?  Well, it's 24 BFL singles, lolz.  Allowing a generous $3000/per, and using today's exchange rate, the value is 86 BTC, *not* 480 BTC.  Yes, exchange rate *does* factor heavily in mining bond-things.
*If there are more detailed books, where basics like equipment depreciation are accounted, i'd love to look at them.

And this is just the most cursory glance at the financials, a quickie.  I may have made a pile of errors here, so please don't use this as anything but an invitation to check for yourself.  If i was risking my coins, i'd use something better than ~ and sloppy "top of my head" math.

Again, if you see errors and missing data (both likely), i welcome you to point me to both.

Nice analysis, I am saying its a buy at these prices, simply due to the fact that Havelock seems to have survived the first BTC market purges okay, so lightbox must be a straight shooter, like Steve Jobs.

So, I see this fund at .3 BTC per share within 3 months.  Also, I send incense up to the Goddess with that prayer.  It's a fucking deal at these prices!  Get it cheap!

[1713558734]

1713558734

[itsunderstood]

Correct me if I am wrong, but the analysis above says that lightbox is putting + money into the mining gear.  Which is an okay thing in terms of long term investment.

So, I am serious when I fly the flag for this fund.  Because, in the long term, setting a consistent pace, is important.

So, I just got my dividend on my shares, and it comes to $30 per month, essentially, in terms of BTC price at this moment.

But, that .025 BTC dividend, accrues.  Therefore, the same dividend from this month, that 30 USD of BTC, can be transformed into 300 USD of BTC, if BTC goes to 10,000 USD per BTC.

In terms of how high BTC can go in terms of USD, it's more like this:  What could possibly ever KEEP the USD tethered to BTC??  Soon, it will be a million USD to buy one BTC, but what does that mean in a totally rigged market?  In that future moment, did BTC fly high or did the USD, drop Weimarishly to the depths of value?  Did firewood scale upward so drastically during Weimar inflation?  Did trees suddenly become less available?  Why did it cost millions of marks, to buy butter?

So, I will be buying more shares at these prices, because HMF provides a solid long term nest egg type mattress, and I do believe in the integrity of those behind it, if for no other reason than they survived this long.

ALSO, if lightbox decides to sell the HMF mining consortium, I am sure he will give his HMF shareholders a book+ valuation hopefully, when the sale goes down.  They'd probably be buying the whole brand, but that's okay, so selling out in terms of rewarding shareholders, might be a nice move for HMF.  I am holding and looking forward to next months dividend.

[crumbs]

Correct me if I am wrong, but the analysis above says that lightbox is putting + money into the mining gear.  Which is an okay thing in terms of long term investment.

So, I am serious when I fly the flag for this fund.  Because, in the long term, setting a consistent pace, is important.

So, I just got my dividend on my shares, and it comes to $30 per month, essentially, in terms of BTC price at this moment.

But, that .025 BTC dividend, accrues.  Therefore, the same dividend from this month, that 30 USD of BTC, can be transformed into 300 USD of BTC, if BTC goes to 10,000 USD per BTC.

In terms of how high BTC can go in terms of USD, it's more like this:  What could possibly ever KEEP the USD tethered to BTC??  Soon, it will be a million USD to buy one BTC, but what does that mean in a totally rigged market?  In that future moment, did BTC fly high or did the USD, drop Weimarishly to the depths of value?  Did firewood scale upward so drastically during Weimar inflation?  Did trees suddenly become less available?  Why did it cost millions of marks, to buy butter?

So, I will be buying more shares at these prices, because HMF provides a solid long term nest egg type mattress, and I do believe in the integrity of those behind it, if for no other reason than they survived this long.

ALSO, if lightbox decides to sell the HMF mining consortium, I am sure he will give his HMF shareholders a book+ valuation hopefully, when the sale goes down.  They'd probably be buying the whole brand, but that's okay, so selling out in terms of rewarding shareholders, might be a nice move for HMF.  I am holding and looking forward to next months dividend.

I'll help you with your long-term picture.
This "fund" has been bleeding money all year long, with heavy losses in every quarter.  The money you get in dividends isn't "profit."  The value of your shares, *and the underlying asset -- the actual mining gear*, drops more than you get back in dividends.  That's called "LOSS," regardless of whether you use dollars or doughnuts as your units of account.
If a mine was worth X BTC last week, and the difficulty doubled, it's now worth only *half as much*, X/2.  If, in that time span, you have mined less then X/2 BTC, you have lost money.  This has been the case throughout the year.

To add to your losses, power cost & management fees are deducted from the mining income.
Showing quarterly losses is not sustainable, it's eating through the funds originally invested into this "fund" by people like you.  When that money is gone, it will no longer be possible to simply put a negative sign in the net income column if you mine less then you spend.  The coin will have to come from somewhere.  
The endgame, which is already in progress, is unattractive to most investors.
That's why the share price is tanking.

[itsunderstood]

Correct me if I am wrong, but the analysis above says that lightbox is putting + money into the mining gear.  Which is an okay thing in terms of long term investment.

So, I am serious when I fly the flag for this fund.  Because, in the long term, setting a consistent pace, is important.

So, I just got my dividend on my shares, and it comes to $30 per month, essentially, in terms of BTC price at this moment.

But, that .025 BTC dividend, accrues.  Therefore, the same dividend from this month, that 30 USD of BTC, can be transformed into 300 USD of BTC, if BTC goes to 10,000 USD per BTC.

In terms of how high BTC can go in terms of USD, it's more like this:  What could possibly ever KEEP the USD tethered to BTC??  Soon, it will be a million USD to buy one BTC, but what does that mean in a totally rigged market?  In that future moment, did BTC fly high or did the USD, drop Weimarishly to the depths of value?  Did firewood scale upward so drastically during Weimar inflation?  Did trees suddenly become less available?  Why did it cost millions of marks, to buy butter?

So, I will be buying more shares at these prices, because HMF provides a solid long term nest egg type mattress, and I do believe in the integrity of those behind it, if for no other reason than they survived this long.

ALSO, if lightbox decides to sell the HMF mining consortium, I am sure he will give his HMF shareholders a book+ valuation hopefully, when the sale goes down.  They'd probably be buying the whole brand, but that's okay, so selling out in terms of rewarding shareholders, might be a nice move for HMF.  I am holding and looking forward to next months dividend.

I'll help you with your long-term picture.
This "fund" has been bleeding money all year long, with heavy losses in every quarter.  The money you get in dividends isn't "profit."  The value of your shares, *and the underlying asset -- the actual mining gear*, drops more than you get back in dividends.  That's called "LOSS," regardless of whether you use dollars or doughnuts as your units of account.
If a mine was worth X BTC last week, and the difficulty doubled, it's now worth only *half as much*, X/2.  If, in that time span, you have mined less then X/2 BTC, you have lost money.  This has been the case throughout the year.

To add to your losses, power cost & management fees are deducted from the mining income.
Showing quarterly losses is not sustainable, it's eating through the funds originally invested into this "fund" by people like you.  When that money is gone, it will no longer be possible to simply put a negative sign in the net income column if you mine less then you spend.  The coin will have to come from somewhere.  
The endgame, which is already in progress, is unattractive to most investors.
That's why the share price is tanking.

Haha, "helping" is what you are kinda doing.  Haha.

No, you make too many assumptions above.  I watch those "Car Buying and Selling" shows on TV all the time.

I used to be a stockbroker, I know how shiny things can be made.  Yes, you seem to have some analysis skills.  However, the fund could do an x10 reverse split and go on the offense for publicity, and change things.

Apple, is a shit brand, but their stock price is meaningful for some.  Does fascism sell well?  WE are witnessing it right before our eyes.  But yes, there are many opinions here.  May you become rich.

[itsunderstood]

Apple, has a valid company, due to the # of slaves it has.

That is a fact.

Slaves come from where?

I am not disappointed to hold HMF, also, I predict a valuation of 1000 USD per share before ...long.

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Haha, "helping" is what you are kinda doing.  Haha.

No, you make too many assumptions above.  I watch those "Car Buying and Selling" shows on TV all the time.

I used to be a stockbroker, I know how shiny things can be made.  Yes, you seem to have some analysis skills.  However, the fund could do an x10 reverse split and go on the offense for publicity, and change things.

Apple, is a shit brand, but their stock price is meaningful for some.  Does fascism sell well?  WE are witnessing it right before our eyes.  But yes, there are many opinions here.  May you become rich.

You used to be a stockbroker?  What reduced you to this sorry state?
And fascism?  Almost afraid it's a clever trap, but... whatchatalkingabout?

...
Slaves come from where?

Vaginae.  Weird but true.

[itsunderstood]

You used to be a stockbroker?  What reduced you to this sorry state?

I just decided that being close to those assholes involved in stocks, to be like being near toxic waste.  I am glad for my choice.  But, how the hell do you even know what State I am in?  Ha!

...
Slaves come from where?

Vaginae.  Weird but true.

I think you mean, China, not Vagina.

Apple slaves come from China.  Do you know anything useful?  Or are you just a hack?

[HMF]

Hello HMF unitholders,

We were able to take advantage of the sale at BFL last week and we've added 5 BFL Singles (250 GH/s total) to the HMF fund.  They were received today are now up and running, bringing our total hashing power to 3 TH/s.

Happy Mining,
HMF

[Groc]

Did HMF pre-order any KNC Neptunes?

[HMF]

Did HMF pre-order any KNC Neptunes?

We have two Neptunes on order from the first batch.  Q1/Q2 2014 delivery estimate.

[HMF]

HMF's December newsletter is now available at:
https://www.havelockinvestments.com/reports.php

[rounderjd]

Is there a description somewhere of what's included in the 15% management fee?

Also, I assume the fund manager holds a controlling interest in the issued and outstanding shares, hence the apparent lack of voting on the decisions announced on the fund's Havelock page. Anyone have confirmation of that?

[HMF]

Hello all,

We've posted our Q4 statement of net assets along with the January newsletter to the fund reports section on Havelock.
https://www.havelockinvestments.com/reports.php

Happy mining.

[Groc]

Did HMF pre-order any KNC Neptunes?

We have two Neptunes on order from the first batch.  Q1/Q2 2014 delivery estimate.

What about the new AsicMiners chips, [Gen3 AsicMiner Chips: https://bitcointalk.org/index.php?topic=438359.0 ]

Rockminer is using the new chips: http://www.rockminer.com/ , 4 BTC for 2.6 THs @ 1.2W/Ghs  ... Shipping starts June 25th

[cloh76]

Is the site down?

[KarmaShark]

Is the site down?

Yes. This happens the odd time and is nothing to be concerned about. As always, they will be back shortly.

[havelock]

We will be back...

[btcminer021]

Not much activity on this. How's the track record been for those invested?

[cloh76]

Not much activity on this. How's the track record been for those invested?

Havent had any issues and payments have been steady.  AMHash fund is currently stopped during the Chinese New Year celebration.  This is one of the more trusted sites

[cloh76]

Any idea when the site will be back up?