Minoan Share Discussion Threads

[institutional investments] 10/3/2024 11:48

Because I'm starting to think, if it ever got planning permission, people are punting on the wrong company 😂

[institutional investments] 10/3/2024 11:47

And can anyone tell me the deed names for the land in full today , and any attached notes to it

[institutional investments] 10/3/2024 11:46

Anyway, if the decision was passed which it won't be of course, what's the deed structure thereafter and ownership details

[institutional investments] 10/3/2024 11:44

The valuation seems to be not realistically appraised. It is based on a decision and not reality
Re based on a 2 million punt and not actual value

[institutional investments] 10/3/2024 11:43

Which does not cover total current and underlying liabilities

So, anyone know the exact structure of ownership ? Of the land in total

[institutional investments] 10/3/2024 11:42

Thats what i believe too. So in essence what they do own , per se, has an option lien

[institutional investments] 10/3/2024 11:41

MINOAN Group's share price soared almost 40% after it announced the sale of a 10% stake in its holiday resort development project in Greece for £2 million.

The Glasgow-based tourism firm is forming a joint venture for its site in north Crete with The Candia Investment Corporation.

The Monaco administered fund has an option to buy a 25% share for £12.5m if the development is approved

[ny boy] 10/3/2024 11:37

II, My understanding is they only have an option to purchase the site and haven’t even paid for it in full, lots of promises it nothing completed

[institutional investments] 10/3/2024 11:35

And what paid for the land ?..

[institutional investments] 10/3/2024 11:31

And when was the land bought and for how much

[institutional investments] 10/3/2024 11:23

Any loans ,liens or notes on the land?

[atlantic57] 10/3/2024 10:42

Mudbath I am a retired auditor qualified with KPMG and ran my own practice.
The auditors would have to have seen a clear audit trail of documentation to arrive at an audit opinion,
Indside information is price sensitive information that is released ahead of an Rns.
This has never happened and is not happening now.

[ny boy] 10/3/2024 10:15

It’s worthless (well 🐐 grazing value)scrubland unless they have parties signed up and finance partner/ committed to.

As I said, no rival or other party has expressed any interest in bidding for the shares, which some consider to have value compared to current sub 1p values.

It’s just complete and continuous nonsense. Always a carrot dangling at the end of each rns, then the usual weeks/months of silence, rinse and repeat, read though most of the previous rns’s all the same.

Nothing doing, what’s the next excuse..UK Easter holidays, kids off, no doubt a timely excuse to disappear on a “business trip” to Crete. After that the old fav..Greek holidays, so you can write off another few weeks for sure.

[waterloo01] 10/3/2024 10:07

Mudbath, not an auditor (thankfully) but they did get a revaluation last year based on current prices. It's not based on what's been built (for obvious reasons) but on what the land is worth to a developer, at this stage (ie pre any works). You'll note, pretty much all developers have a carrying value for undeveloped sites, invariably the increases with planning consents etc (which we have already).

Once they get the elusive contract revisions agreed, I'd expect that valuation will go up, not down but as ever...we'll see.

Edit: what a crazy board this is and the very reason the guild exists. Not to share 'inside info' but to be able to discuss such things in a respectful and critical way. I respond to you when you have a reasonable question, even if we disagree.

[mudbath] 10/3/2024 10:00

waterloo01
Extracted from the increasingly historic 2022 accounts:-

"Capitalised project costs, being costs associated with acquiring and developing the site in Crete, planning and other design costs, increased by £600,000 to £47,358,000."

Were I to have the opportunity to yomp around Cavo Sidero, would any evidence of those inventory £millions present itself.
Maybe you would care to identify where any realisable resale or salvage value lies.

Even if the auditors felt able to rubber stamp any revised and expanded inventory figure; would they not suggest that Minoan address the clear need to commence some level of amortization ?

[ny boy] 10/3/2024 06:51

It’s obvious why Georgios left, nobby knows, it’s a major blow for the negotiations.The Monks know howto play this never ending game. For sure they know MIN need funding fast.

I will be surprised if they can get it away this time, just one too many promises.

NAV is irrelevant it’s just not air, signed contracts and financier in place is the only thing that will create any real value. As it stands the scrubland is worth 2-5M max

The rest is pie in the sky until a major deal is announced but seems highly unlikely.

No bidders for the Company either, tells you there is no value.

[institutional investments] 10/3/2024 02:11

Fkn ell. Just came in and see Vlad is popular as ever

Pap, would you like some crayons for your ichi cloud?

😂

JPM will be loading up this Monday if you fill the clouds with pretty colours haha

[institutional investments] 09/3/2024 23:00

Just reminds me. I have no more red crayons in stock

[institutional investments] 09/3/2024 22:57

It's really pretty. Not software produced. I coloured it in myself

[institutional investments] 09/3/2024 22:56

I have a 15 year data table tracking share price performances across UK and US little stocks, when a main director leaves for personal reasons

Anyone wanna see it?

[vlad the impaler] 09/3/2024 22:54

Did he not feel well before next update?

[vlad the impaler] 09/3/2024 22:52

Nobody hear yet?