Minoan Share Discussion Threads

[waterloo01] 09/12/2021 13:36

Indeed. Having said that, and I don't know, but wouldn't it be satisfying if as opposed to a raise they bought in a strategic investor.

[clocktower] 09/12/2021 13:31

As you say waterloo01 the sooner the raise the better, so we know where we stand, because that loan is like a noose.

[boliviana] 09/12/2021 13:31

Unfortunately no funds free today but I will be topping up next week as the mc is plain daft and eventually investors will see this.

Some great posts from a number of posters who have highlighted just how much this news means to us and how undervalued Min is.

[boliviana] 09/12/2021 13:27

Excellent news but market madness.

[atlantic57] 09/12/2021 13:26

I’m surprised a Middle Eastern investor
Does not offer 100 million pounds or euros
For the whole site.

Privacy and space guaranteed

[pj 1] 09/12/2021 13:11

Haven't the Director options been extended for 12 months for 3 consequtive years now?

They haven't motivated them much before.

As they have failed why renew them ?

[daicaprice] 09/12/2021 13:09

A current £6.5m valuation of Minoan is ridiculous after today’s confirmation, yes there is a chance of a placing but there are also now other avenues that could be explored for any funding needed to get the first deal over the line, either way the sooner we are told the better but in my opinion we are totally derisked.

DC

[waterloo01] 09/12/2021 12:11

Yes the 59,000 sq m is highlighted in the RNS, so not far from half the build space we have It will be high density project and doesn't have coves, bays, 28km coast line nor the outstanding local environment, etc, etc.

[waterloo01] 09/12/2021 11:50

The build space is 108,000 sq m (without additions) and that uses less than 0.5% of the land. The $40m deal will mean they are building on almost the whole site footprint.

NY boy, you are not worth a reply.

[atlantic57] 09/12/2021 11:48

Not bad - 40M Euros for a 85 acre plot.

How much for a 10 Square mile plot of land??



Result: 85 acre = 0.1328125 square mile.

The nature of the Company’s Project in Crete, covering over 25sq km

If we have 10 square miles then there would appear to be substantial upside potential.

I am not sure on how big the site is I have a feeling it is around 106000 square metres

[waterloo01] 09/12/2021 11:47

Well not the reaction I was expecting. The ability to turn the lease into a 99yr one and bankable alone should see this rerate toward net asset value.

Guess everyone is waiting for a raise. Sooner the better if that's the case and we can move on and look forward to closing deals in the new year.

The 'game' changed with the Strategic investment law. IMO

[ny boy] 09/12/2021 11:44

Clutching at straws here, reaction to the news was already in the price, classic sell the news story, not that the news was anything other than ok but nothing special. Companies with little cash always get shafted by buyers who have cash, little cash = very weak negotiating position.

Cash call for sure, how are they going to survive for the next year or two if no major cash call, assuming they can get one away in the position they are in?

Still much work to do to survive. Can’t keep going on expensive short term loans imo

[daicaprice] 09/12/2021 10:36

Proposed VAT reduction to be extended to all Greek Islands including on property will do no harm either.



DC

[ny boy] 09/12/2021 10:18

Placing with drop soon, out of cash , ideal time to try and go for a raise but will be lucky to get away at 1p, trap door once the placing news hits the wires,

If this mostly scrub land site was so good, it would have been snapped up years ago, a classic jam tomorrow AIM play, exit was 11p, look at the share price nearly 4/5 yrs later..1/10th of the price lolz

[daicaprice] 09/12/2021 09:31

Perfect time for Joanne Hart to update her previous recommendation of Minoan in the Midas column of the MOS with renewed price targets this Sunday. That always alerts investors as opposed to traders.

DC

[waterloo01] 09/12/2021 09:12

You also have a few traders who bought under 1p and it's a decent turn. They might well raise, but if they do, it could be at a premium. The situation now is quite different from earlier in the year IMO.

I've added today as I said, we are seriously undervalued and the RNS today adds a couple of major bricks in the wall.

[daicaprice] 09/12/2021 09:07

The muted reaction I assume is because people are expecting W H Ireland to be out rattling the bucket.

DC

[waterloo01] 09/12/2021 09:04

Also means that potential buyers can get mortgages on villas.

[atlantic57] 09/12/2021 09:03

the directors options are up for renewal that will be a clear guide on how confident they feel of how quickly they can do deals.

[wi1l] 09/12/2021 09:02

One very important change to the law means the increased likelihood of being able to use the land to arrange finance on any development..........

"Strategic Investments planned on land owned by Ecclesiastical Foundations are now to be allowed to use "Epiphania", a right which can most easily described as akin to an English ground lease, and which provides a mechanism to achieve terms of up to 99 years. The use of Epiphania would enhance significantly the ability of investors to finance their investments through the banking system"

[gerhart] 09/12/2021 08:59

They have now done a statement in relation to Greek law changes....so surely a Pre-Christmas placing will be due soon. Though Interims/formal financial update first?

I think they will get the placing away this time at a small premium 1.5p?

(know about loan, but why would they waste the chance of a wee placing, and some more for the BoD)

[waterloo01] 09/12/2021 08:55

Just to say that I don't think the company has ever been in a better position. I've added today (can currently buy around 1.36p)

[waterloo01] 09/12/2021 08:20

Surely this should underpin the project value. On the books for £40m+ but the recent land deal suggests it could be double that. That would be a 10 bagger based on todays market cap.

[daicaprice] 09/12/2021 08:19

Managed a few thanks to the sell on news brigade.

DC