Minoan Share Discussion Threads

[chatchat] 03/7/2024 16:45

a re read of the thread header and statements issued by the company since 2007 to date might not go amiss.

It is hard to fathom how negotiation can take so long if there is genuine serious intent on both sides. What in heavens name can there still be left to talk about and agree on?

What I see from published factual info is numerous RNSs without much substance, and the last accounts which show minimal cash held and (in my mind) a question mark on the WIP value. Will the cash run out before MIN can exploit whatever asset MIN does hold for the benefit of current MIN shareholders. Ultimately, cash is king.

To be clear I am not an investor here - Nobby brought it to my attention from the constant referrals on the Syme board - so I did take a look at it. It may well come good but to me it is not in the "dead cert" category.

[ny boy] 03/7/2024 16:37

They have no money in the kitty, where is it coming from?

[daicaprice] 03/7/2024 16:27

Spot on, I also heard that a "Royal" Security team had been out there to check out how long they could hold the peninsular should there ever be a need to, they were impressed with the landscape and options apparently! DC

[waterloo01] 03/7/2024 16:23

Boliviana, it's not even a new contract, just an updated one, but it's the key document on which everything follows, particularly finance and development partners in the 1st instance (or is that the 2nd instance?). IMO

[boliviana] 03/7/2024 16:21

I seem to recall Egleton was at one time threatening to go with the existing contract but that hasn't happened obviously.

[boliviana] 03/7/2024 16:19

Waterloo so whatever way we look it and whichever way the project evolves it's all down to getting the monks to sign the new contract then.

[waterloo01] 03/7/2024 16:13

daiaprice, interesting. I wonder how many such 'lurkers' are out there. Mid East pockets are pretty deep, if they want something, but from my knowledge, they are cautious and would rather pay more, with certainty, that take a risk pre updated contract?

[boliviana] 03/7/2024 16:09

That is all very interesting DC, adds to the intrigue.

[atlantic57] 03/7/2024 16:09

Waterloo fair point.

Ethics and Morals are in pretty short supply and certainly on aim there are many examples of outrageous behaviour not being challenged by the authorities.

[daicaprice] 03/7/2024 16:03

I heard a whisper that a more senior Ex Govt Minister joined and therefore George left, I also heard that his initials were also GM. Strange he's never had a mention but was driving things forward.That came from a contact in Dubai who said his employers were "watching closely"Make of that what you wish but I added a few million at the time.DC

[boliviana] 03/7/2024 16:02

Thanks Waterloo, they do appear to be canny that's for sure.

I noticed the 1million buyer appeared to have attracted a series of smaller buys and buying a million shows some confidence although not exactly megga bucks.

[waterloo01] 03/7/2024 15:56

biliviana, I don't know but as has been suggested they are a canny lot, so no doubt will be making sure they get the best outcome. I think the goal posts are pretty fixed.

[boliviana] 03/7/2024 15:54

Unless I missed it did we ever get the reason that George left ?

[waterloo01] 03/7/2024 15:53

atlantic, it's an interesting one, and purely hypothetically, if say a hedge fund, decided to drive a company into the ground, in order to pick up it's assets cheaply, and crush creditors and shareholders, in order to sell it on for a stonking profit, I wonder how such ethics would be seen say, in someone seeking a banking license or something similar?

Just wondering....

[boliviana] 03/7/2024 15:53

Waterloo, are the monks negotiating to get themselves the best deal they can or are they just stalling constantly moving the goal posts ?

I know you are not at the table so it can only be your opinion or interpretation ?

[waterloo01] 03/7/2024 15:43

mudbath, astute as ever.

"Firstly, the money at stake has remained a constant spectral attraction to investors for over two decades."

I agree, but not sure why that invalidates my point about current and future value.

"Secondly, the Minoan P.I. has absolutely no assurance that his investment will be rewarded, should the project progress to the point of a monetisation.
There is after all an exceedingly long queue of hopefull/expectant "vultures" already circling over any Sidero carcass.


Well it's been pretty disastrous for early investors, esp if they haven't averaged down recently under 1p, but why wouldn't the company and it's shareholders benefit, once a deal is done and the project actually begins?

I agree about predators. Disappointing if there weren't parties who understand the project potential and value, who would love to get it on the cheap. I certainly hope that there are no bones for any vulture to pick over and any predator will have to offer a realistic price. Not saying it should or would be accepted, but that's business.....

[atlantic57] 03/7/2024 15:39

Mudbath you are correct in your assertions.
It would be in Gilbert’s interests to drag this out till the end of the year when he can load up with more warrants and in the absence of any other funding availability he could offer peanuts and walk off with the asset.

I continue to hold believing the current share price is way below what the asset is worth.

However I am realistic if Ce can’t get the foundation even with the Government on board to sign off then the upside is limited

[mudbath] 03/7/2024 15:20

No one disputes that their is indeed, "money at stake for all parties, well beyond the current share price "

Their are though at least two major flaws in waterlo01's assertion.
Firstly, the money at stake has remained a constant spectral attraction to investors for over two decades.
Secondly, the Minoan P.I. has absolutely no assurance that his investment will be rewarded, should the project progress to the point of a monetisation.
There is after all an exceedingly long queue of hopefull/expectant "vultures" already circling over any Sidero carcass.

[daicaprice] 03/7/2024 15:15

Boli will be on the Boli in no timeDC

[boliviana] 03/7/2024 15:02

Thanks again Waterloo for answering my questions even if you were unable to add a lot. I will try and remain confident and keep my frustrations to myself. I trust your input Waterloo and have added a few more, I might be mad but in for a penny in for pound.

[pj 1] 03/7/2024 14:56

They sure must have sore backsides because they have been 'sat at the table' for over 10 years.

[waterloo01] 03/7/2024 14:53

boliviana, I am still confident, which I hope is well placed. As to why, well short of being at the table, I can't fully answer that and while it should have been done years ago -, which is I guess partly down to management - it is, I believe close. Whatever the reasons, there is a lot of money at stake for all parties, well beyond the current share price