Minoan Share Discussion Threads

[daicaprice] 27/3/2022 19:49

I looked earlier for the significant holders names & figures on the website but it seems to be blank at the moment, possibly being updated.

DC

[ny boy] 27/3/2022 18:30

Thanks Nick, that’s a good evaluation, I would be happy with 2-2.5p myself, anything more a bonus, tucked mine away, let’s see what happens.

[daicaprice] 27/3/2022 18:28

It’s great we are all looking forward far more positively, that news on a sunny Friday was missed by most, I expect a bit more interest tomorrow.
My placing of 500k for sale @3p with HL tomorrow is not anything negative on my part by the way, it’s just letting them know there are a few for sale and that is my first target price (it’s actually up from 2p before Fridays RNS) I know they will find plenty below that and that doesn’t bother me, we need sellers to make a market.
Should we get a placing, depending on the price I am now perfectly happy to add more.

Let’s have a good week and enjoy the market realising what’s we already know.

DC

[nobbygnome] 27/3/2022 18:22

Some great posts today. The one clear thing is, if the project really is about to proceed, the site is worth a lot more than the current market cap of £7 million. Exactly how much more we will have to wait to find out….

[nick2412] 27/3/2022 18:00

NY Boy, I'd be more than happy with the historic nav that has been audited and put in the accounts year after year and I think that's 47m euros. With warrants, options taken up and perhaps a bit more funding dilution that would be very roughly something like 5p a share.

Deloitte figures will be interesting and maybe indicative of more but in this market, any share that can double is a fantastic performance. I expect so much more than 2p to 2.5p a share but I'd also be quite happy with that level of return. A lot will depend on if there is competitive interest from the Middle East, around the globe (Russia excluded) and Greece itself.

Greece looks like a favoured place now for property investors with between £10m and £30m available in grant funding from the Greek Govt plus all sorts of tax incentives for development projects. That has to be an attraction too.

I think the prospect of a lease extension from 80 years to 99 years can't be underestimated either as a key factor in determining value. My understanding is this length of lease is required as security for developers to access loans. Also, my understanding is that the right for a lease extension is now formalised but that right also has to be consented to by the Greek Church.

It's a sort of contradiction of having a 'right' but then still requiring a nod of approval. I suppose it's a Greek cultural anomaly. I think a lease extension kickstarts everything and is a substantive value enhancer. Hopefully it will come soon with the new Loyalward Chairman in place.

[atlantic57] 27/3/2022 17:36

The carrying value of the asset is shown in the balance sheet at around 46 million pounds.This represents cost so you would expect the selling price to be higher than this.

The new chairman uses the phrase finally the project can move :

“With the Project finally able to move to definitive agreements”

He has been a director since February 22 so he clearly feels that he can move the project on quickly .

Once discussions with the foundation are concluded I suspect things will move quickly.

[waterloo01] 27/3/2022 17:08

It starts to get interesting when you begin to look at values. If you look at the project plans on the website, it's clear there are 3-5 hotel/villa areas. It's possible one group might take on the whole site, but otherwise you are looking at 3/5 distinct elements (and each potentially accessing the 10m grants).

This is also where Deloittes work comes in in working out the rates of return of high end resorts, taking into account average room rates, sale rates, occupancy etc etc.

This is what resort investors need to work out what it's worth, taking into account building costs etc and the unique nature of the sites

We're talking in the £100's millions. That's not what 'we'll' get, but what the ultimate value will be based on.

One thing I do know, is that each of the sites is, as is, worth more than the current market cap. How much more we'll also find out once Prof Mergos unlocks the doors!

[ny boy] 27/3/2022 16:47

Nick2412 based on what you say,in your opinion, where do you see the top end for the sp, if they get paid a decent sum?

[ny boy] 27/3/2022 12:11

I’ve just moved the share certs up one from the bottom drawer, it’s a 6 chest of drawers. Feeling a tad more optimistic.

[nick2412] 27/3/2022 09:06

Terminator, thanks for your contribution, but I will await the Deloitte figures. I suspect they will depict a somewhat different and relatively short-term rewarding story for shareholders. The impressive appointment of a highly respected and influential Greek national paves the way for a conclusion to talks with the Greek Church imo and onto the lucrative end game, his own words imply as much.

It may come as a surprise to you, but £7m m/cap Minoan / Loyalward will not be funding or doing the development. Someone will pay them a decent sum for the privilege though.

Who to follow, Deloitte and a new appointee with a highly impressive and relevant CV or an anonymous malcontent? It's not a tough one.

[terminator101] 27/3/2022 08:59

Say what you want mate, but given I've got a more than 90% track record in predicting overvalued fluff don't confuse me for someone who cares what you think. :-)

[nobbygnome] 27/3/2022 08:30

Take a look at Term’s posting history; he is one of those unsavoury types who is negative on everything. Ho hum…

[terminator101] 27/3/2022 08:27

@3p sell order in your dreams. There's no way this loss making cash hungry overvalued fluff is ever going to get to 3p. Monday will see profit taking ahead of the massive fundraising that is needed for development IMO. For all the talk of acceleration this is still years away from generating a single penny in revenue.

[daicaprice] 26/3/2022 22:31

I’m always interested in atlantic’s comments, I get carried away with my own beliefs and will generally back my own research, I love a veiled confidence and I think that is what I’ve just consumed.
I will be putting a 500k sell order in for Monday @3p so if we have any wanting an out, get in there for 2.8 or under 3p.
Personally I hope I don’t sell but I’d set a target for them.

DC

[nobbygnome] 26/3/2022 18:42

The problem is that they won't let you buy any amount. Late Friday the most I could get was 250k and I bet they will shut down the buys pretty quick on Monday morning if there is any buying interest and move the offer up

[wi1l] 26/3/2022 17:51

Its on the cards Nobby, but all depends on the interest that has been generated on Friday. The seller was either all sold up or on a day off on Friday because he didn't show in any great significance and there were no after hours trades put through. Need a buyer or two with significant interest in getting on board. Even at this late stage there is plenty of "up-side" to be achieved.

So far this year the buys total 40,892,074 and sells 30,243,703 - thats another 10.5 million shares the MM's have conjured up from the bottom of their sofas with nearly 5 million to the good on Friday..........

Sustained buying from early Monday should only have one result...............

But buying interest seems to be generated in the main via this thread and there needs to be more exposure to the exciting potential that the project has as alot here are most probably close to being all in.

[nobbygnome] 26/3/2022 17:29

Do other people have a feeling like me that we will get a further strong rise next week?

[nobbygnome] 26/3/2022 17:28

He is now actively involved in the negotiations with the Church so there is no way he can buy shares until those talks are concluded. Consequently any fund raising will presumably come after that hopefully with the price at a higher level and it certainly wouldn't be a surprise to see him buy in big then!

[hugothesecond] 26/3/2022 17:21

Will be interesting to see if our new chairman purchases some shares after the interims are published.
Or could we see a fund raising taking place in the next few weeks where he participates with his first share purchase.
Either would be a vote of confidence for shareholders !

[atlantic57] 26/3/2022 14:20

For those investors who got in early it would be interesting to know what persuaded us to invest Im Minoan. I read a tip sheet article which emphasised the merits of the property assets owned by the Company and disparity with net asset value when Comparing the market cap.

However if I had carried some basic Research the aim admission document makes clear that there were many inherent risks.



If we look at note 10 of the last accounts files it makes clear that there are financial liabilities and that royalties paid to the foundation are based on revenue not profit generated.

As to where we are now I like Nicks quotes :

Receipt of a salary without delivering as quickly as investors hoped is not a fraud.

however, he got one very big call spot on - offloading the travel business. The company would have gone into liquidation


The mew chairman has come an at a very opportune time and I am sure he will take the project forwards so that all shareholders benefit. What he will achieve in terms of value and how long it takes remains to be seen.

[atlantic57] 26/3/2022 14:20

We can't comment on his competence as we don't know all the facts and we don't know what someone else would or would not have achieved.

[microscope] 26/3/2022 10:57

I suspect we'd all hope he learns from his predecessor's biggest weakness. Consistently over-promised but under-delivered.It's time to say it as it is. If anything to under promise and over deliver!

[wi1l] 26/3/2022 09:52

Minoan Group PLC - Greek hotel investor - Appoints George Mergos as chair of Loyalward Ltd, the Minoan subsidiary that owns the Itanos Gaia project in Crete. Mergos will remain a director of Minoan as well.

"With the project finally able to move to definitive agreements, which will require contractual relationships to be agreed in order to develop the site at Cavo Sidero, I am delighted to be able to be involved proactively in seeing this unique development finally take shape,"

Mergos comments. "The project is set in the largest private estate in the Eastern Mediterranean, and Minoan's steadfast and patient shareholders can rest assured that I aim to see their commitment and loyalty rewarded with further demonstrable progress in its development in the near future."

He certainly has a way with his words and talks the talk, hopefully his actions will speak louder..........

[wi1l] 26/3/2022 09:27

All about timing and the majority of us timed our entry far too early imv, infact with heindsight many years too early, however to the credit and tenacity of CE the company and the project is still in one piece with all to play for.

The disposal of Stewart travel was viewed very differently at the time but had it not been sold it is unlikely that there would have been anything left by this point.

Smart move to get more Greek involvemement - Looks to me that George is overflowing with the right credentials to take this project further. One of these fortunate individuals who is in the right place just at the right time.

Stakeholders/investors/developers should eventually be falling over themselves to get a piece of the project:

*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.