Minoan Share Discussion Threads

[atlantic57] 25/4/2019 14:16

Frankly I do not understand what the Bod have been doing for last 2 years. A Prudent Bod would surely have done a placing here just after the appeals were dismissed at around 10p that would have put them in a strong position to negotiate.

I know they will claim they were in talks with third parties but it is self evident that these talks take months to conclude.

Until such time as they communicate to shareholders via an rns that a deal has been signed off we remain in a pitch black room but with the clock ticking.

One of the worst investments I have ever made should have looked at the accounts in
A lot more detail and not been beguiled by the 100 million euro valuation.

[pj 1] 25/4/2019 13:58

FWIW If they can get a deal, and momentum with other deals kicks in (even a total buy out)then I have a price target of between 5 and 10p.


However, any delays will have to result in more dilution and further lack of confidence and I agree targets would be much lower.


I would like to think CE / Minoan could somehow communicate the near term possibilities to build confidence and encourage more Investors to take positions, through wither RNS or that their PR actually does something.

[justjill] 25/4/2019 13:57

Atlantic - you may be right. I'm hoping that you're not, and we eventually get something better. It's good land in a good spot etc etc.

Key problem is, that it appears, the asset has not been pushed hard enough in all the right ways. And the company itself hadn't got itself in order.

So let's just keep our fingers crossed and hopefully before I/most of us, die....BUT I'm hoping that won't be anytime soon. :)

[atlantic57] 25/4/2019 12:36

Just Jill I suspect 5 to 7 p is just about possible if they conclude deals by the end of 2019 after that much lower target

[yorgi] 25/4/2019 10:05

I know the Equity Development report is a few years old but still worth reading for anyone who hasn’t read it before. There is a lot of detail in it.

[yorgi] 25/4/2019 10:02

Read between the lines as well as what is written !

[yorgi] 25/4/2019 10:01

Waterloo there was more to yesterday’s funding news than what was in black and white in my opinion.

[atlantic57] 25/4/2019 09:58

When you value a company you must look at
Debt.The enterprise value of Minoan when
You allow for debt is around 16 million.

The so called 100 million euro valuation
Is of no use to min.This is evidenced by
The numerous parties who have walked away.

The Balance sheet clearly shows that they
Have a weak bargaining hand in any negotiations.

If we had done some basic homework
We would have saved ourselves a lot of money.

However today I may will consider a top
Up as my average is 10p.
A ikely target price now is 5 to 7 p
So lowering the average is worth considering

[yorgi] 25/4/2019 09:57

Finances being sorted and not at a discount but at a premium......clearly a clue in my opinion.

[yorgi] 25/4/2019 09:55

Spot on in my opinion Waterloo 😊

[waterloo01] 25/4/2019 09:53

Messages from the company are not always direct but the clearing up of the balance sheet and the previous JV update suggest that deals are indeed actually happening. If they can confirm the 1st JV it will put a marker down on the value of the whole, which should be a multiple of £15m IMO.

It's been a long and not particularly profitable investment but do think the message has sunk in that they need to close off deals.

[scotty1] 25/4/2019 09:44

With all due respect yorgi if most had listened to the so called trolls a lot of people would have saved a lot of money,i think we were the ones blinkered.As for grossly undervalued,nope i don't think so yes undervalued but who would pay big amounts for development to Minoan when they could probably buy the whole company for less than £15m.

[yorgi] 25/4/2019 09:30

Look at the facts and ignore the trolls and blinkered.

[yorgi] 25/4/2019 09:29

Another tick up coming 😊

[yorgi] 25/4/2019 09:28

With double the shares in issue that would only give us a market cap of £13m which in my view is still way to low for 6000 acres of land approved for development of a high quality resort in one of the most beautiful areas of Crete.

Patience is the key.......even if patience has been stretched to almost beyond breaking point.

[yorgi] 25/4/2019 09:22

Once again as can often be the case with AIM buying when others are at their most fearful can bring the greatest rewards 😊

[yorgi] 25/4/2019 09:19

Regardless of the disappointment of the time taken for CE and BOD to have taken the project forwards and the increased dilution I still believe the company is grossly undervalued for the valuable asset we hold.

Land like this is not going to come available for development often.

[yorgi] 25/4/2019 09:16

Steady buying this morning 😊

[justjill] 25/4/2019 09:00

Thanks for highlighting Shareprophets there Waterloo. However their credibility on Min is long dead, just looks like corpse hasn't stiffened yet. :)

Not sure TW is a real friend of CE, but if so that is even worse.

I suggested a long while back that the BoD should have done some kind of share issue at price premium, even to all shareholders. That was before sale of T+L and confidence was still high. They could have then hived off T+L to a separate listing or whatever was best. But not selling in way they did. And cleared substantial or all debt.

If news was coming any time reasonably soon, then I don't believe they could have done a restricted issue now - even at premium. Mind you given some of the things the BoD have done, or that get done on wider AIM, who knows.

But anyone reasonably new, who think big holders or insiders know best when subscribing, should look at the subscription that was planned for Dec 2017 (for limited bidders) and those who did buy at 6p(?)! See how that worked out. Mind you the formal raising on the markett was abandoned as not enough believed they BoD were on the case then.

But I am stilling holding...more in hope and also very much in sorrow at massive paper losses.

So here's still hoping!

[pinkfoot2] 25/4/2019 06:29

I agree Waterloo-as I said, hang on to Z’s shirt tails

[waterloo01] 24/4/2019 21:12

Pinkfoot even if that was the case, at least our interests are more aligned.

[atlantic57] 24/4/2019 20:30

Agreed and understood