Minoan Share Discussion Threads

[nick2412] 15/2/2022 16:46

It looks like clocktower has his finger hovering over the buy button for a short-term trade. That's the usual posting pattern. An odd form of investing in what are fairly illiquid, large spread small caps but each to his own.

You are entitled to your dubious misrepresentations, but I suspect buy and hold investors with averages that are well above current levels will do just fine despite your selfless concerns for our financial welfare. Those that have averaged down, as I have done, have the prospect of doing spectacularly well as opposed to 'just fine.' Never any guarantees with any listed company regardless of size but MIN does have a compelling risk/reward.

[clocktower] 15/2/2022 16:09

Well that's a penny for your thoughts Nick but I guess the seller of 150k below 1p is having very different thoughts, and that thought maybe "there's no fool like an old fool" in light of the age of what you say the board was before this appointment.

[waterloo01] 15/2/2022 15:52

Spot on, on all counts Nick.

[nick2412] 15/2/2022 15:48

It looks to me as if this is a key Greek national appointment and one that Minoan has been missing for some time. He'll know how to deal with the Church and it looks as if he has the ideal background to help Minoan access the potential maximum £10m grant funding incentive scheme for projects above £50m. It highlights the opportunity here when a Govt grant exceeds Min's m/cap by over 50%

It even brings down the average age on the board with the departure of 79 year old Barry Bartman!

"This plan will form the basis of the core documents which Minoan will be sharing with potential commercial partners and stakeholders, feeding into a more structured process with interested parties."

I suspect there will be a formal tender process and when and if this is announced there will be a scramble to buy Minoan shares before bids come in that make a mockery of the current m/cap.

[clocktower] 15/2/2022 13:39

Projects of National strategic importance, how many times have we heard that from so many countries around the world, only for the results to be somewhat different.

[waterloo01] 15/2/2022 13:26

Well if Mergos is a fool, it's a title I'll happily wear. He's aware of the project, which he's just visited, because it's a project of National strategic importance.

Thanks for the good wishes though, I think?

[clocktower] 15/2/2022 13:14

The sellers do not seem to agree with most of the posters on this thread, as its seems to me they have just taken a very slight advantage to unload almost as many from the earlier buyers.

I'm sure your all looking at the fresh shoots of spring through tinted rose tinted glasses. Remember anything is only worth what another will pay for it and sometimes folks are just trying to unload something on to a bunch of fools.

Good Luck though, you really deserve your dreams to come true if you have swallowed it hook line and sinker time and time again.

[nobbygnome] 15/2/2022 13:12

He really is an excellent appointment and shows the Board is serious this time about getting the project over the line.

Oh and the trades at 1.044 and now at 1.066 are all buys

[waterloo01] 15/2/2022 13:09

Do you think Minoan might be seen slightly differently in Greece with Mergos on-board and "delighted to be able play a role in helping the Company to create value for all stakeholders by achieving its vision for the Project."

[waterloo01] 15/2/2022 13:05

Another thing about the new director, he's vastly experienced in development projects and funding via institutions. Given the Dev law part of the release, which seems to have been 'over looked' are the grants that could in theory add up to Euro 30m. Do you think this might help? Pointing the way chaps.

"Since November 2014 he has been a director of Piraeus Real Estate SA, the real estate arm of Piraeus Bank and of PICAR SA, a real estate company owned by Piraeus Bank.

He has served as Secretary General of the Ministry of Finance, Secretary General of the Ministry of Economy, Governor of IKA, and as a member of the Boards of the Hellenic Financial Stability Fund, the Public Power Corporation and the Council of Europe Pension Reserve Fund. He is an expert on economic development, project and programme evaluation and has consulted extensively with organisations which included the World Bank, OECD and the European Commission."

[wi1l] 15/2/2022 12:11

It will be a major break-through if they can achieve a new lease and agreement with the Foundation.

[rafboy] 15/2/2022 12:02

Sounds like the end result could be better than many anticipate.

[waterloo01] 15/2/2022 11:55

They are quite well advanced as I understand it, and it's closing should be the last 'brick' in the wall before they go to market properly, with all interested parties in a structured way.

[wi1l] 15/2/2022 11:52

Presumably the next thing on the list is for the contractual arrangements with the Foundation to be resolved with a new lease and form of agreement that everyone is happy with. Negotiations have been ongoing for years so its in everyone's interests to finally bring everything up to date and move forward.

"The Company continues to work constructively on a number of fronts with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani (the "Foundation"), and hopes to be able to report progress in its contractual discussions shortly."

[waterloo01] 15/2/2022 11:44

I'll try and be civil. Mergos isn't an old friend but a new one. They are taking salaries in stock and appointing Deloitte means they will have robust numbers and plans that will stand up to scrutiny with large players (we're talking of £250m + build, so numbers need to be trusted and that's what Deloitte are doing).

[atlantic57] 15/2/2022 11:25

Arthur. It is a great pity that the bod have consistently given the impression over the last 8 years that were always weeks away from a deal being signed.,when manifestly the prospects realistically were close to zero.

Today’s rns suggests they are still hoping that the foundation will improve the terms agreed with them ,which in turn will allow the bod to achieve a higher price for shareholders.


The landscape in Greece today bears no resemblance to the time pd was given.
It must be possible for the bod to conclude a deal with someone at a multiple of today’s
Price at some point in time. The new member of the bod should make a difference.


I remain a holder but would caution against the perception that legally binding contracts will be signed imminently.

[daicaprice] 15/2/2022 11:23

That’s excellent news on both counts waterloo, thanks for passing on.

DC

[rafboy] 15/2/2022 11:15

When you consider recent events it is clear things are coming to a head. Albeit much slower than many expected. However, the Dev Law has passed, we are finalising plans to maximise commercial interest and negotiations with the church are ongoing. This remains our best chance to see a deal or deals materialise. That is where we are and why I hold.

[waterloo01] 15/2/2022 11:00

No raising on the cards.

[daicaprice] 15/2/2022 10:51

Our new addition to the Board is a massive positive for me and I look forward to adding further to my holding.

DC

[arthur_lame_stocks] 15/2/2022 10:47

Let's be honest with ourselves folks, this isn't much closer to a conclusion than when the PD was issued.

[daicaprice] 15/2/2022 10:31

I assumed from the lack of buying and the low sell limits that we are all suspecting the same but didn’t want to say it, I’m extremely happy with today’s RNS and certainly not going anywhere.

DC

[atlantic57] 15/2/2022 10:26

That is a realistic aspiration presumably this will be linked to the loan position being
Considered.

[daicaprice] 15/2/2022 10:20

Im expecting a smallish placing @1p, raising enough to get us to the first parcel of land sale or JV, I’ll be extremely happy if we don’t get diluted further however.

DC