Minoan Share Discussion Threads

[hugothesecond] 24/7/2020 13:16

We are investing in one man G here to turn this business around. That’s the risk/reward. He must have good contacts to kick start the process and why would he invest if it was lost cause.

[waterloo01] 24/7/2020 12:48

However, the disparity between that stated value and the market cap leaves a significant margin and suggests, even with the shares having already responded up to 1.45p on this latest, this here still worth a risk/reward buy. We are backing Gilbert here as much as Minoan's management.

[yorgi] 24/7/2020 09:50

Neither do I Hugo but seeing the dropping price yesterday which was more than I had expected I did wonder.

[hugothesecond] 24/7/2020 09:48

I don’t believe that we will see the sub 1.2 levels again.

[yorgi] 24/7/2020 09:43

Darn it share price going the wrong way I was hoping more impatient sellers and I could add some more cheaply 😊

[scotty1] 24/7/2020 09:41

BUSINESS 23.07.2020 : 12:02
Minoan is looking for funds to invest in Cape Sidero
NIKOS ROUSANOGLOU
gkat_26_2307_page_1_image_0001
The coverage of the plot will not exceed 0.5% of the area. It is planned to develop accommodation facilities with a total capacity of 1,936 beds and an 18-hole golf course.

LABELS:
After a few months delay, as a result of the pandemic, the management of the British Minoan Group Plc. is expected to intensify its efforts to conclude strategic agreements and secure the necessary funds for the start of its ongoing investment in Cape Sidero.

The reason for the development of a unique area of ​​25,000 acres, in Ormos Faneromenis in Sitia, Crete, with a coastal zone several kilometers long and its transformation into a modern tourist destination which will also have a golf course. This is an investment of 270 million euros.

Discussions

According to the company's management, the situation that arose due to the pandemic and the measures taken by the Greek government resulted in the delay of discussions with interested investors, both for the part of the hotel that will be created and for other parts of the investment. such as the development of tourist housing.

As Minoan said in a statement earlier in the week, "the traffic control measures have delayed more detailed discussions with potential investors and strategic partners, especially regarding our ability to hold face-to-face meetings and arrange on-site visits to the area." of the project ".

Start

It adds that now, with the measures relaxed, the company is able to move forward and put the investment on track.

It is recalled that Minoan secured, a few days ago, new working capital from its shareholders, in order to be able to cover the required operating costs, until the above contacts are completed and the way of financing the project is found.

The investment for the creation of the complex "Itanos Gaia" has been included in the procedures of the law on fast track (since 2012 ...) and now only the issuance of the building permit remains, after the rejection by the CoE, in June 2017 , the last appeal that had been made for the annulment of the Presidential Decree that plans the area of ​​25,000 acres.

Contract length

The project has matured on a licensing basis, with the added advantage that new appeals can no longer be brought. The land was leased by Minoan (then Loyalward) to the owner of Toplou Monastery in the mid-1990s, and due to long delays the contract was revised. Today it lasts 40 + 40 years.

Based on the terms of the approved urban planning, the coverage of the plot will not exceed 0.5% of the area, ie 108,000 sq.m., which will concern hotels and tourist residences. A total of 1,936 beds and an 18-hole golf course are planned to be developed. The project is estimated to create 1,200 direct jobs.

[wi1l] 24/7/2020 08:34

Can't buy any on-line. AGAIN!

If Martin Gilbert's followers find out where he is and start to invest here it will be turmoil!

[yorgi] 23/7/2020 20:41

If someone with deep pockets takes an interest Microscope then the challenges may be not as substantial as you suggest.

Clearly Martin Gilbert’s involvement adds “weight” to the company and he will undoubtably bring new contacts and interest to the project.

[microscope] 23/7/2020 14:50

Relief rally here was merited. Market hates uncertainty and they now have 12 months headroom to iron out the finances and secure partnerships. A 'name' investor also indicates renewed confidence in the Project.We shouldn't underestimate the substantial challenges that remain. Assuming partners, there are still years of building works, financing and planning permissions for the individual developments (yes I know they have irrevocable decrees, but eg still need to meet local approvals for the actual final designs).The new website is a vast improvement and the outlook better than previously - and while years of hard work remains to extract full value for shareholders, there is now at least some visibility ahead.

[hugothesecond] 23/7/2020 12:20

Martin Gilbert coming on board is a game changer - he comes on board in Sept after the AGM in August.
Me thinks he will take over from CE and drive forward the investment potential at pace.
There is good opportunity to triple any investment from here as a minimum.

[waterloo01] 23/7/2020 10:42

Building on that, the amount of land compared to the built footprint, means each villa could have significant land attached. The site plan in the project area clearly shows.

[yorgi] 23/7/2020 10:39

Agreed Nick, you make some very valid points.

[yorgi] 23/7/2020 10:24

For anyone who hasn’t had a good look around the new website it is well worth having a good look.

It is many times better than the old website giving a far better idea of just how beautiful the area of the site is and just how ridiculous the present companies valuation is.

[waterloo01] 23/7/2020 07:57

Cheers, over the last 12 months I've had some fantastic winners alongside SNG with GGP and GAN, both of which I sold too early, but was happy to bank profits.

Just shows, you've got to be in it to win it. MIN hopefully will complete the 'pack'

I'm significantly reassured by Gilbert involvement. He won't want to be associated with something that fails and brings not only contacts but more importantly credibility, and that will be vital in closing a good deal.

[yorgi] 23/7/2020 07:50

Send him an email Will or you could phone him I guess 🤔

[yorgi] 23/7/2020 07:49

Good call Waterloo 😊

[daicaprice] 23/7/2020 07:32

Well done on SNG waterloo, it’s nice when they do drop.

DC

[wi1l] 23/7/2020 07:13

Yacht of Sheikh of Qatar arrives in Greek island of Skiathos



The Sheikh of Qatar and former Prime Minister of the Emirate Hamad bin Jassim bin Jaber al-Thani has once again arrived in his beloved Skiathos to spend part of his holiday

Fancy popping over to NE Crete??

[pinkfoot2] 22/7/2020 21:19

I personally blame Yorgi for persuading a number of lost souls on here for following this disaster down to where it is today.He has been ramping it for years, whilst the share price slid to where it belongs.

There is hope-this newly formed LLP DAGG looks like it is there for one reason and one only-to drive some value out of it whilst getting the conceited clown CE under control.

I expect action very soon-it won’t be an enormous uplift but it does offer some hope.Im a buyer just because Gilbert has access to cash and lots of it so hold onto his shirt tails

[waterloo01] 22/7/2020 14:45

One day they will announce that a deal has been done and then we'll see the value. I'm lucky to have a large sum in SNG. I was waiting to 'derisk' before results, but the share price never went anywhere (large seller in the background). Results dropped and it went up 500%. It will be the same here.

I've retained a decent holding in SNG as there is a more to come.

[daicaprice] 22/7/2020 14:41

We all recognise it, just a shame the general market don’t seem to.

DC

[yorgi] 22/7/2020 14:31

All very true Waterloo and especially how undervalued MIN is compared to our "golden" asset.

[waterloo01] 22/7/2020 14:09

Showed the new website to the her indoors. Her 1st comment was 'have they talked to Club Med as it would be perfect for them'

Whether it's them (Chinese own Club Med) or a large hotel group, or a big resort developer or an investment group of retirees taking advantage of 7% tax, or HK refugees ($25ok investment brings a 'golden visa'), one way or another this is a huge site with 'endless sea views and numerous secluded coves.

It's worth a great deal more than a £6m market cap. If the market doesn't see it. so be it. I'll keep buying.



Largest private estate in the Eastern Mediterranean
Set in the Cavo Sidero 25 sq km Peninsula, with its 28kms of coast with numerous secluded coves and bays
In an area of outstanding natural beauty with spectacular views
Permitted build space of 108,000 sq m, plus allowances
Distinctive locations for hotels and resorts
Properties can include significant outside space
Project granted “Strategic investment” status by the Greek Government
With the benefit of an extremely flexible outline planning permission
Using less than 0.5% of the land for building
Endowed naturally with a history spanning the Minoan, Hellenistic, Venetian and Byzantine periods
30 minutes from Sitia international airport
Project supported by Municipality of Sitia and 28 unions & trade associations, in addition to the Church and Foundation
The current design teams include both International and Greek specialists.
Will contribute a significant number of jobs and economic benefits to the local area and Greece in terms of tourism and competitiveness.