Minoan Share Discussion Threads

[wi1l] 26/9/2021 09:17

Very encouraging reading all the positive posts.

FWIW the level of buying so far this month amounts to 14.1M compared to those selling 6.7M so believe it or not this month more than twice the level of shares have been
bought as compared to sold. The MM's are past masters of manipulating the position to their advantage, however it makes me wonder whether their efforts here are well founded or merely being guided by the past history of this company.

[waterloo01] 26/9/2021 07:48

Greece–Saudi Arabia to Boost Ties with Investments, Tourism and Trade

The Saudi minister also met with Greece’s Investments & Development Minister Adonis Georgiadis.

“There have always been good relations on a personal and political level, but now this relationship is being upgraded to the level of strategic cooperation,” bin Abdulaziz Al-Falih said, adding that the focus would be on “trade and investment flows between the two countries”.

“The dynamic is great. I believe that you will see a lot of investment in both countries as well as business cooperation between the two nations in business plans in other countries,” he said.

Greece-Saudi Arabia agreements

Investments & Development Minister Adonis Georgiadis and Saudi Arabia Investment Minister Khalid bin Abdulaziz Al-Falih in Athens.

The Saudi Arabia investment ministry and Enterprise Greece, the country’s official investment and trade promotion agency, signed an agreement this week to facilitate investor activity between the two nations. An agreement to establish a business council between the Hellenic Federation of Enterprises (SEV) and the Council of Saudi Chambers followed.

“We reaffirmed our mutual will to strengthen economic cooperation by tapping into business opportunities and promoting investment in both countries,” said Georgiadis, who confirmed that a delegation of entrepreneurs from Greece would be visiting Saudi Arabia next month.

A mission of Saudi businesspersons will be visiting Greece by the end of the year, he said.

[nobbygnome] 25/9/2021 21:53

Good stuff as always waterloo! The current price weakness is a real opportunity for the brave…

[aimdetective] 25/9/2021 19:45

Fantastic Waterloo, thank you.

[rafboy] 25/9/2021 19:34

Great post Waterloo.

[atlantic57] 25/9/2021 18:37

Excellent Summary Waterloo I agree with your comments.
The eternal question is of course how long.

However I am sure Martin Gilbert’s actions will give us a strong indication of where we are come the end of October.

Spivs always flip if they can’t get a quick return…

[waterloo01] 25/9/2021 18:10

The volume was more than normal and can see why it might have spooked a few investors (and spooked a few into buying more, me included). I'm fairly sure it was one of the recent placees. Guess someone thought they could flip a quick profit but bailed with a small loss. It's not an endless supply and I did a dummy buy order on Friday afternoon and they had under 1.5m shares on offer at around .98.

I hope their timing will prove to be very poor indeed, but we know the Dev law is on it's way and from what we've garnered, significantly adds to the projects value and marketability, but until it's on the statute books, the company are unlikely to comment. That to me is an opportunity, when you know potentially market moving news is on it's way, but as Michael Cain is oft quoted, 'not many people know that'

The Dev law is a cornerstone piece of legislation for the Govt and unlocks all sorts of inward investment, hopefully including MIN and with the environment in Greece never looking better for external investment, it's an opportunity that no one wants to miss and The company are quite aware of that.

The recent activity from the likes of Soverign funds, hedge funds, hotel groups etc,and with Greek property prices booming, long term capital is flowing into Greece. The MIN project is an investment of strategic importance will one hopes be on the radar.

The DAGG loan current extension is the other driver, in that deadline is approaching at the end Oct(no bad thing given the long term lack of delivery). I'm comfortable that given the above re the Dev law and the reassurance they will have got from the Deloitte report (which hasn't been released but has been referred to) plus 'positive' noises on the ground, that extending isn't an issue (also as pointed out by another poster, the other members of DAGG are all already large shareholders, so unlikely to be in their interest to 'screw' the company, doubly so when a result is within sight.

Martin Gilbert is another factor and he's a man closely followed in the city. He brings the financial cudos, that again should help in eventually closing commercial deals an getting the project started.

Value? Main holders averages are somewhere around 4/5p, so can't see it below that, but could be a lot higher.

All in all......as PJ would point out, the past isn't a pretty picture, but the near term future looks rather juicy..potentially!

[aimdetective] 25/9/2021 13:43

Volume Friday was over 5 million. Having quite a few messaging me and asking about it. Hopefully we can start to build some momentum going into October.

[waterloo01] 25/9/2021 12:25

If you look back over my and others posts from the past week, you'll be pretty close. All to play for once Dev law on the books.

[aimdetective] 25/9/2021 12:07

No problem at all. Would love an updated summary of your thoughts Waterloo?

[waterloo01] 25/9/2021 11:43

Not on telegram so do let us know of anything interesting.

[aimdetective] 25/9/2021 11:30

Telegram group for anyone interested - #MIN https://t.me/MINresearch

[aimdetective] 24/9/2021 16:51

Have bought two lots today. Confident about what October will bring us. Bought at 0.947 and 0.99.

[waterloo01] 24/9/2021 14:45

Small mercies.

[wi1l] 24/9/2021 14:36

Stewart travel's accounts have been submitted to cos hse today - loss for the 14 month period to 31st December 2020 was getting on for £4M together with further losses most likely for this year.

Makes you wonder where this company would be if they still held Stewart Travel. It would be dire - every thing's a bonus here when you consider that, with all still to play for.............

[waterloo01] 24/9/2021 14:29

Some excellent posts today, we're almost all aligned (doesn't happen often). Once the Dev law is in place, things should start moving, hopefully fairly fast. Who knows maybe even the church will deal. As mentioned yesterday there is no way anyone, including CE want's to miss the current window.

I'll take a hedge fund, Sovereign wealth fund, hotel group whoever, but as the story from earlier, there is money to spend on high end developments, just need to capture it.

[rafboy] 24/9/2021 14:22

Good points and he must be aware his time may be coming to an end unless something is pulled out the bag. Mr Gilbert didn’t buy in not to make a profit so I think it is all coming to a head and October could be pivotal for MIN.

[microscope] 24/9/2021 13:50

Thanks Atlantic. It's never easy stating home truths, particularly as a shareholder. It does seem at least we are all on the same page regarding October being critical in many ways. Waterloo as my post I hope demonstrated, I'm also happy to see what happens next month before reaching too many conclusionsI certainly don't crave a placing, Nick. But ever since the sale of the travel business (and Presidential Decree) the company has pretty much had a hand to mouth existence through funding after funding, with no spare cash. It's not unreasonable to believe that rinse/repeat is the most likely outcome.The obvious other option would be a rollover of the loan, or perhaps Gilbert and co would accept a chunk of the Project in return for cancelling it, but I'd imagine they'd demand substantially more than 1.1 million's worth. But at some point the company has to put its own financial house in order. For context, even repaying 1.1 million at 1p a share issued, would involve over 100 million new shares. The company will need a whole lot more money than that along the way.None of the other potential game changers as you describe them necessarily make CE the right man to take the Project forward.He could stay on as a consultant or Non-Exec for example, as he will have contacts in Greece and knowledge of intimate details. But a more dynamic CEO prepared to take a more proactive approach to attracting partners would imho be in all our interests.

[atlantic57] 24/9/2021 12:28

Yes agreed that is why many long term shareholders remain on board.

However two points remain unclear .

A) Have the bod decided to proceed once the law changes without any adjustments from the foundation ,

B) If the answer is yes then things could move very quickly ,if the answer is go back to the foundation then the timescale is unknown given we have been negotiating with them for 4 years.


This is probably why the share price is stuttering

[wi1l] 24/9/2021 11:41

Game changers with everything to play for:

1)The plot of land - TEN square miles with numerous alcoves and spectacular coastal views.
2)The impending change of law on new investments.
3)The current market Cap at £6M.

[rafboy] 24/9/2021 11:15

Totally agree Nick especially regarding the new law. I think we have the best climate in which a deal can be struck coming up very shortly. Moreover, as you point out the bigger players need multiples of the current share price and I very much hope they will see those figures on the table fairly soon.

[nick2412] 24/9/2021 11:11

I think you are right rafboy.

I think Microscope who seems to crave for a placing is likely to be disappointed. The majority stakeholders in DAGG who hold the loan (details in Companies House) consist of shareholders with significant holdings at substantially higher average share prices. They are aligned with shareholders in wanting minimal or zero dilution and a prospering share price. They will also be aware of the enhanced prospects of the imminent Greek parliament legislation and the positive impact this will have for a deal.

In terms of the latter I don't think investors have cottoned on to the positive enormity of the impact that the legislation currently going through Greek parliament is going to have.

Once on the statute in the next couple of weeks or so then it will transform the deal making prospects for Minoan on a scale that few have fathomed yet. In my view it makes what was a difficult deal to achieve a significantly more enticing and straightforward one.

The bigger picture in Greece as well is that I read recently that the price of hotel rooms have soared by a factor of 10 in relatively recent times whilst build costs have only doubled. So, aside from the legislation, there are other compelling economic factors in the Greek tourism property sector that should lead to a decent deal for shareholders.

In my view it's an irony that the share price is at its lowest when the prospects for Minoan and a transformative deal are seemingly the best they have ever been.

Clearly the loan has created an air of uncertainty, but if you look at the structure and self interest within DAGG (all substantive shareholders with high share price average holdings), then there are compelling reasons for them to do what is in the best interests of the share price. They will also be fully aware the Greek legislation changes the prospect for a deal dramatically.

[rafboy] 24/9/2021 10:46

We should be blue.

[rafboy] 24/9/2021 08:11

Nice to the buys first thing. Think October will be interesting too, we shall see.