Minoan Share Discussion Threads

[rafboy] 24/10/2021 20:45

You got us going there LOL.

[waterloo01] 24/10/2021 16:03

Ok false alarm. I've been informed this isn't the one we are waiting for. It's next up and hopefully will appear shortly. Sure looks like the Dev law?

[daicaprice] 24/10/2021 11:29

That looks like the kick start we’ve been waiting for, thanks for posting waterloo.

DC

[rafboy] 24/10/2021 11:16

Thanks Waterloo, I can see a few adding on Monday and a few nerves soothed.

[waterloo01] 24/10/2021 10:02

Finally the Dev law. Bring it on!! Should be on the statute books by end of the week.

AGENDA OF THE PLENARY SESSION


MEETING NOW
Monday 25 October 2021
Time 13: 00΄

LAW PLAN

DEVELOPMENT AND INVESTMENT

Only debate and vote on the principle, the articles and the whole of the draft law: other provisions of the Ministry of Development and Investment ".
RAPPORTEURS : Efstratios (Stratos) Simopoulos and Stavros Arachovitis.

Note : The Conference of Presidents decided at its meeting of 22 let's October 2021 discussion of the bill in one (1) meeting.

[wi1l] 24/10/2021 09:50

FWIW Simply Wall Street have up-dated listing of top 25 shareholders as at 1st October 2021.

They have included Nominee shareholdings:

STRAIGHT IN at 4.06% is Canaccord Genuity Wealth (international)limited with 24,490,645 shares

and strangely abrdn plc with a holding of 5,365,859 shares (0.89%)(wonder who that relates to?!)

Nominees increasing since 1st April 2021:

Hargreaves Lansdown UP 43.71% to 59,337,046 shares

AJ Bell Holdings, Asset Mgmt arm UP 31.02% to 30,935,621 shares

Barclays Bank plc, W & I mgmt div UP 20.01% to 24,182,899 shares

IG Group Holdings plc, Asset Mgmt arm UP 45.03% to 10,717,038 shares

Thomas Grant & Co, Asset mgmt arm UP 63.92% to 16,887,338 shares

Only ones decreasing slightly is Jarvis Securities, asset mgmt arm, down 29.9% to 11,833,851 shares and Nomura Holdings inc,securities & investment arm (?Nico115) down 30.27% to 5,344,156 shares.

In the main then Private Investors have been adding in shed-loads over the past six months and tucking them away until the long awaited news on the project arrives.

[atlantic57] 23/10/2021 13:52

Rafboy I sincerely hope you are correct.

At the point the draft law was passed I was feeling very optimistic.
However Procrastination appears to be the norm in Greece.

This note was taken form elderado gold September 2019

Path Forward in Greece

Eldorado is working with the Greek government to achieve the necessary conditions required to restart full construction at the Skouries Project. These include a stable regulatory framework and assurances that provide appropriate foreign direct investor protection and dispute resolution as well as regulatory approval for subsequent permits and technical studies.

The Ministry and the Company are collaborating on a mutually acceptable path forward to build safe, modern, world-class operations in Greece, including approval to implement dry stack tailings at Skouries. This best-available technology would reduce the project’s environmental footprint by approximately 40% and decrease the site’s water consumption.

George Burns, President and CEO of Eldorado Gold said, “We are very pleased with the receipt of these long-awaited permits, which enable us to protect our existing investment. We are greatly encouraged with the engagement we’ve had to date with the Greek State and look forward to working constructively with the relevant Ministries. We believe the Skouries project offers significant value for our investors and benefits to the local communities and the Greek economy, while adhering to the highest environmental standards.”



This is a link from October 2021

[rafboy] 23/10/2021 13:35

It is their interests to pass it. Let’s see what happens over the coming weeks.

[atlantic57] 23/10/2021 13:07

epresents a momentous consolidation of the support of Government and the other authorities in the land
enables our absolute focus now on the implementation and achievement of the Project
Provides the framework for maximising and delivering value.


That was more than 3 years ago when the share price was around 10p

Since then zero progress delivered and the the share price decimated by 90%

Maybe they should post that on the website.

Joking apart If Greek Parliament does not approve this change of law this side of Christmas then what ?

[wi1l] 23/10/2021 11:15

Goodness has it really come to that or merely someone up to mischief??

The web site reveals the extent of the opportunity:

The approval of the project:

*Represents a momentous consolidation of the support of Government and the other authorities in the land

*Enables our absolute focus now on the implementation and achievement of the Project

*Provides the framework for maximising and delivering value.

Minoan's and the Foundation's vision - a unique asset:

*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.

[clocktower] 22/10/2021 16:32

Catching falling knives is a dangerous business, could it be taken off market as the price is below what might be needed to raise further funds - then what?

[atlantic57] 22/10/2021 16:23

Probably November 6😀

[waterloo01] 22/10/2021 15:54

lol. January 6th

[atlantic57] 22/10/2021 15:13

Does anyone know when the Greek parliament shuts down for Christmas

[rafboy] 22/10/2021 14:19

Don’t blame you Nobby, would like to do similar at some point.

[waterloo01] 22/10/2021 12:14

Don't forget the members of DAGG are already major shareholders, so unlikely to be destructive in negotiating.

[nobbygnome] 22/10/2021 11:43

Bought another 95k this morning. The price is ridiculously low assuming we get any positive news. The price will be above 1p in a flash on any hint of positive developments....

[microscope] 22/10/2021 11:36

The market hates uncertainty and Dagg have a host of options from the friendly to the unthinkable.

The friendly would involve a rollover, or perhaps as Atlantic suggests taking equity, or a chunk of the Project, investing themselves in the Project, or even installing new management.

Thankfully the less friendly seems imho very unlikely. Not for a moment do I expect them to invoke a worst case scenario (causing Minoan to default and buying the lease for a song from the receiver, for example) but while even a remote possibility of such as that exists, that's why it's so important to get through this next ten days successfully.

Once the market knows, then a relief bounce should be in order.

But one thing for sure, we need news and the sooner the better for everyone's sanity, and to finally remove that uncertainty.

[atlantic57] 22/10/2021 09:09

Yes it could take Minoan many years to move the project on completely.
To date they have provided zero announcements of any tangible progress so until they announce a deal with an unconnected third party we don’t know what the site is worth.Speculation ,book values and posts about what else is happening in Greece are interesting but of limited value.

It has to be monetised to give an indication of value.

A 99 year lease will be attractive as it usually has automatic rights to extend.

If you are a holder it is one to forget about.

I once mentioned this Company to my biggest client whose business had been sold for 250 million pounds.As soon I mentioned Greece his jaw dropped and there was a shake of the head.

[daicaprice] 22/10/2021 08:20

Would make sense atlantic and roll over the rest.

DC

[atlantic57] 22/10/2021 07:49

Given the time it is taking for the Greek legislature to enact the new law and the seeming impossibility of predicting when it will happen ,Gilbert is in a very strong position.

Perhaps he will convert part of his loan to equity.

Given the share price is so low it would be a good time to do it.

[daicaprice] 19/10/2021 19:08

Interesting, from memory 6m is roughly 1%.

DC

[atlantic57] 19/10/2021 19:07

Hi Microscope I think we must take board at their word they have clearly stated that they intend to take the project forwards with or without agreement from the foundation.

I believe a 99 year lease is a big deal as it effectively equates to a freehold title.

What I cant discern is how long it will be before it is enshrined in law.

[wi1l] 19/10/2021 18:24

Always reckon you are generally barking up the wrong tree Microscope (mischeviously sometimes perhaps?), however on this occasion you could well be spot on!!