Minoan Share Discussion Threads

[nobbygnome] 15/1/2022 09:33

Yes what could possibly go wrong......

[wi1l] 15/1/2022 09:20

The land is the main draw IMV - with the bonus of an unappealable presidential decree for planning permission.

Where on earth can someone get hold of a 10 Sq mile plot of land AND in an area of outstanding natural beauty AND surrounded by spectacular sea views.

And at what price ?

Land has a value, 10 sq miles has considerable value wherever you live, but add to this the location and then add on the permission to develop, the conditions and a Greek Govt eager to help, this equates to a mouth-watering mix IMV!!

[tim000] 15/1/2022 07:56

I emailed the company a while ago also suggesting they follow Atlantic’s advice. First time I had emailed them. No reply. It’s rare that my very polite communications with companies are ignored. I hope on this occasion it’s because any comment would be inappropriate while they are negotiating. But that might be wishful thinking.

[waterloo01] 15/1/2022 07:54

tim000, true. One of the big differences that make it 'different this time' is the change in the lease law, along with the other incentives. The last bit of the dev law (that deals with grants/funding) should be heading to Parliament next week.

[tim000] 15/1/2022 07:48

Yes, I pretty much agree with that Waterloo, I was thinking exactly the same thing as I wrote the post. But I didn’t want to give the impression that MIN is entirely risk free from losses, because that too is not quite right.

[waterloo01] 15/1/2022 07:43

tim000 good post, and I have a similar approach with my portfolio, but the one thing I'd disagree with is it's a binary bet. Unlike a drug company or E&P oiler which live or die with results, there is, and always has been, deals to be done. It's a question of price.

Edit: Atlantic, that would certainly be a nice RNS to land and it's hard to disagree, it's been a very long road to get to that point.

[atlantic57] 15/1/2022 07:36

That is an excellent summary Tim.

However to date the board of directors have not provided a shred of evidence that they have made any progress .No doubt they would argue that the recent changes in the law were promised two years ago and it was worth waiting.

An announcement along the lines of :

A) An update now saying “in advanced negotiations”

B) We have entered into nda with various interested parties.

Because of the 8 year history of “ we are in talks with interested parties” announcements ,this on its own is meaningless.

Your final summary points are a very sensible conclusion.

[tim000] 15/1/2022 07:19

I personally wouldn’t bet the farm on what is essentially a binary play. And there is always the risk of the infamous unknown unknowns. My own portfolio is spread very widely with special situations such as this (although no other has such immediate upside). If 50% come off then I’m happy. That would be my advice about how to treat MIN.

[wi1l] 14/1/2022 22:29

Well put Tim,summed it up very well.

[tim000] 14/1/2022 21:38

I forgot there is another piece of evidence that I personally place weight on. The annual accounts show that the accumulated cost of Minoan developing the project is equivalent to about 6p per share fully diluted. The auditors have signed off the accounts because they are satisfied there is evidence provided by the company that the project has a commercial value at least as much as this. They are satisfied of this, otherwise they would impair the asset in the accounts. The auditors have access to all relevant inside information. This is not conclusive, but it’s further evidence that the project has significant market value.

[tim000] 14/1/2022 21:21

All the posts here provide lots of evidence that the Greek residential and commercial property markets are booming; the government has recently passed laws to stimulate and subsidise the local tourism industry; plots of land suitable for tourism projects are being sold; the Greek development laws include parts that seem specifically inserted to favour the development of Minoan’s project; our largest shareholders (a mixture of commercial property experts and a highly successful fund manager) have recently added to their not inconsiderable shareholdings; and the company seemingly has postponed a placing (to provide working capital) presumably because it has something positive to announce first. These are just off the top of my head, the experts on this thread could no doubt add to my list. You can retort it’s all circumstantial. Obviously! That’s why I say the balance of available evidence. But the share price is saying there’s a 10-20% chance of CE pulling this off. And I say it’s well over 50% given all the above.

[fozdad] 14/1/2022 17:33

Tim, what's the evidence? I'm assuming (and hoping) that there are potential partners who are poised to get involved, but to date, I haven't seen a jot of evidence. I'm still adding here when I can, but my investment is purely based on the very obvious potential and the assumption that after all this time, there must be some progress.......surely!

[tim000] 14/1/2022 16:11

Indeed, DC. A further placing is irrelevant to the key issue of whether there is demand for MIN’s project amongst international property developers. The balance of the evidence we have available to us suggests there is - in which case the shares are as cheap as chips, irrespective of further (marginal) dilution.

[daicaprice] 14/1/2022 13:09

That possibility is factored into my risk/reward calculations thanks clock.

DC

[clocktower] 14/1/2022 12:57

One step forward and you can look forward to the next steps backwards if funds are raised.

Sucked in a spat out maybe.

Good Luck

[rafboy] 14/1/2022 12:51

As Nobby said it won’t take many more buys before this has to move up.

[rafboy] 14/1/2022 12:46

Hopefully that may change as we go forward.

[daicaprice] 14/1/2022 12:40

Strange thing is they are only bidding for a max of 500k.

DC

[rafboy] 14/1/2022 12:39

Watching with interest, nice to see the buying today..

[nobbygnome] 14/1/2022 12:36

Talking to myself which is never a good thing but I can only get a quote to buy 150k now; it's not going to take much more to get the price moving....

[nobbygnome] 14/1/2022 12:28

Number of buys mounting. Only 585k net bought but good to see nevertheless....

[nobbygnome] 14/1/2022 08:55

In fact 250k is the maximum quote now....hmmmmm

[rafboy] 14/1/2022 08:48

We need something from the company now to spur this on.

[nobbygnome] 14/1/2022 08:43

The online quotes have really sharpened up after those 2x75k buys. There was 500k offered at 1.198 but now 100k at 1.227 is the best quote with larger amounts quoted at 1.2388

[wi1l] 14/1/2022 07:40

bit old but maybe still has legs?

MHV: The trip to Cyprus and the mature tourism projects in Crete



The development of Mediterranean Hospitality Venture Limited (MHV), the tourist "arm" of Prodea Investments, which also consists of the parent Company Invel Real Estate and the Yoda Group of Mr. Ioannis Papalekas (real estate investor, known for his involvement with "Nammos" in Mykonos, is in full swing.

MHV is particularly active in placing capital in the Greek tourism market, where there are now several mature investment projects of organized tourist accommodation, which are looking for strategic investors and financing. Among them, two are located in the area of Sitia in Crete. The first belongs to the group of marble industry Iktinos and the second to the British group Minoan, which designs the "Itanos Gaia", in Cavo Sidero. Both are in the final stage of licensing, after many years of urban maturation process.