Minoan Share Discussion Threads

[dazah] 04/9/2018 13:57

Sounds about right PJ. I've been in here a couple of months and already wanting to hang myself with the boredom (other than the fine folk on here and the entertaining guys on Twitter) but no one is buying at this "low level".

Reminds me I need to change my username, I will have to get in touch with advfn

[pj 1] 04/9/2018 13:46

dazah. Some traders must be getting bored now, and the lure of the next rocket attracting hot money to much to resist?

[rspiros] 04/9/2018 13:40

what if the Zachary is willing to invest more on the project and and trying to find funds for purchasing part of the project and struck one deal.

This will have two positives :

1. Gives an evaluation to the hall project and starting point for further negotiations with other parties.
2. Zachary seems to have the same interests with Shareholders as we stand.

An assumption only.:)

[dazah] 04/9/2018 13:38

Blimey I go away to set up my Commodore 64 and look what happens...market clearly not impressed with MIN absolutely disgraceful.

[pj 1] 04/9/2018 13:22

Anyone in any doubt as to the 'tactics' Directors can use in RNS to disguise the truth should read the RNS from FRR yesterday. Each statement they make fails to put the negative case. It was up 80% yesterday after PI's ignored the previous lies and deceit from the Company.


I'm not aware they used ''imminent '' though

[arthur_lame_stocks] 04/9/2018 13:20

Me too. I actually bought some more a while ago as I became reasonably optimistic again after one of their announcements but it seems to be deadline after deadline missed and no tangible progress since the PD.

[colinzeal] 04/9/2018 13:16

People are just fed up of this stock. I know I am.

[scotty1] 04/9/2018 13:12

They say will not affect future fully diluted figures but to be honest the way they have been performing i cannot trust them to their word and i see them having to raise cash by some means other than through a partner.

[pj 1] 04/9/2018 13:05

Like it or not the Market is pricing in bad news here imo

[pj 1] 04/9/2018 13:05

Due to non performance all BoD's options should be cancelled. It was a disgrace they were rolled over anyway.

[scotty1] 04/9/2018 13:03

Wi have read somewhere that the warrant price may be reduced or even removed.

[wi1l] 04/9/2018 12:55

If also the warrants are exercised at 8p/7p there shouldn't be the need for a placing there will be enough working capital to last a couple of years. But somehow have a niggling feeling that it wont be that straightforward and with the share price as it is its doubtful isn't it that 8p/7p will be the price??

[scotty1] 04/9/2018 12:51

Yep microscope it's just a guessing game at the moment,at least when it was to do with the PD we had the Greek press helping us along,but now we have nothing and are in the hands of our wonderful,thoughtful BoDs.

[microscope] 04/9/2018 11:50

As somebody said recently we are back to speculation.

What i do know is that there was a Heads of Terms in March for the T+L sale and a dd process underway.

As of last Friday morning there was neither.

The cold fact is the only reason people are giving this company yet another chance is because everyone knows CS is a jewel that hopefully will be worth the seemingly eternal wait.

In reality the near six months it has taken to actually achieve something quite remarkable - to have moved backwards - for that is what it is since March, is something in my opinion most company BoDs may not have survived.

As to what happens next, or when, it is as we all know anyone's guess. And there's plenty of that on here. Mine is that the T+L will complete in October and they'll have a placing, and tell us what if any progress is happening on CS.

But it's the same 2p that everyone else's is also worth!

[justjill] 04/9/2018 11:19

Sorry....RE my previous post. (then I'll get back to the day job! :) )

This from the statement last week:

Following the consideration of approaches from other prospective buyers, negotiations have been taking place in good faith with the Group's primary lender, Zachary Asset Holdings Limited to buy T&L, notwithstanding that the debt facility has been extended only to 31 August 2018.

The loan was only recently extended for two months....so how long were the: "negotiations have been taking place in good faith with the Group's primary lender" been going on for? You can be sure it wasn't the day before they released the RNS last week!

[justjill] 04/9/2018 11:12

PJ, I am sure Zachary (Hillside really! - except for some sort of tax issue) know more about what is going on with MIN than any of us do.

Remember they opened this loan a few years ago and agreed to roll a number of times. I'm sure the BoD had to justify each time with an update.

As I suggested before, maybe switching the loan to "Zachary" was part of longer-term thinking, by Hillside/Zachary alone, and maybe unofficially with BoD.

[pj 1] 04/9/2018 11:05

Maybe Zachary are undertaking some sort of DD or further research on Crete, and are therefore delaying any purchase of T&L as insurance against any risk it wont meet expectations, to better understand their own risk/reward in the future?

[dazah] 04/9/2018 11:04

Lol, well done Jill :)

[justjill] 04/9/2018 10:59

Apologies for being crude. But the analogy of someone with severe constipation often comes into my head with MIN's lovely BoD.

.....in their head they're thinking....aaaah it's coming, it's coming...but it never seems too....and then suddenly it does. :)

[justjill] 04/9/2018 10:54

I think "imminently" will take on a different complex this time - thanks to Zachary. The last loan agreement has effectively ended, with no new agreement entered into. So I imagine that therefore no further interest is being paid. So it's in the lender's interest to wrap this up as quickly as possible.

I know a deramper spin would say they could just "call-in" in the loan. But quite clearly - as Zachary seem to understand - even if they had a devious desire to do that, they know that their interests are much better served seeing MIN thrive with CS valuation achieved as high as possible. (in any case I imagine a shareholder with deep pockets would then step in, BoD even, rather than hand their lovely investment over to the loan company.

Scotland voted to remain part of the UK. But it would appear the BoD don't use/understand the English language in a way the rest of the UK do - including most Scots!

[colinzeal] 04/9/2018 10:49

Probably a couple of years I reckon.