Minoan Share Discussion Threads

[daicaprice] 03/5/2022 20:12

I’ll be most upset if we get to the end of this month without significant progress and a clear vision in which direction the scheme is going.

DC

[pj 1] 03/5/2022 20:05

atlantic57

I think that is guaranteed.

[atlantic57] 03/5/2022 20:02

Nick thanks for your comments

Pj I think the talking will stop very soon.(It has to )

As I have posted before it is very difficult to see historically how the directors believed they were close to a deal.

The position now is quite different as explained by what you may term safety in numbers posters.

However if we get to the end of this calendar year with nothing signed off then I would reconsider my opinion.

[pj 1] 03/5/2022 19:28

Mrs Adams is the widow of CE's previous QUOTE ''best friend.''

Do you think she will see any profit? What is hr average?

Genuine question for CE, Come on Bill, WE ALL KNOW YOU READ THESE BOARDS.

[pj 1] 03/5/2022 19:18

PJ 13 May '22 - 19:14 - 19956 of 19956 Edit
0 0 0
The safety in numbers posts and confirmation bias seeking here is scary.

Obviously whoever took the placing would only do so if Directors also put their hands in their pockets.. hence the Director buys, Jeez how thick can you lot be?

Hugo you need to research at what other prices the Directors bought at.... they are all massively under water it means sweet FA

They don't even try and explain what the Placing is for anymore.. just more confetti easily raised, shareholders ignored blatantly.

The Chart says it all if you look.

All IMO

=============================================================================

jUST IN CASE IT GETS MODRATED ON THE RAMPING THREAD.

[nick2412] 03/5/2022 18:58

Excellent summary atlantic.

On the one hand I would argue that a premium placing would have been appropriate. The Deloitte figures have been released and have credibility. That and the audited nav highlight the share price should be a multiple of where we are now when a commercial deal is concluded. A discounted placing detracts a bit from that and George could have been awarded 1p options as well to reward his transformational input in tandem with a premium placing. I am sure the appetite would have been there as nobody could have bought a material stake without pushing the price up significantly.

On the other hand it's not overly dilutive and it should be the last funding. I've always based the final return on a total of 750m shares in issue fully diluted after warrants and options are exercised. That allows for a 5p to 10p result based on the nav and Deloitte's figures. It's only the loan rollover to get out the way and then it should be a clear run as investors anticipate a commercial deal or deals.

I certainly don't begrudge George getting in at discounted bargain levels. Neither would I be as cynical or, more accurately, libellous to suggest negotiations were timed to allow one last direct top up but I think it's fair comment to say they know a deal will be concluded soon.

I'll be adding on any movement close to the placing price and I suspect I won't be the only one. It may well move there as some debts have been settled with 3m shares and usually these are sold by what are likely to be non-investors. In addition, so many placing participants these days, regardless of future merits, are 10% profit takers.

Overall, the outlook is extremely positive with strong signs that MIN is on course to one of those rare multi bagger from these levels.

[microscope] 03/5/2022 18:56

I'm not Wi1l :) but Atlantic can answer. 'Following Admission, there will be a total of 672,517,005 Ordinary Shares in issue or to be issued. '

As to number of warrants and options etc, must be many millions, I'll leave that to Will :)

Agree does feel like damage limitation timing to avoid obvious risk of immediate selling by PIs.

[atlantic57] 03/5/2022 18:38

Summary for me :

Negatives

Poor form to announce after hours

Very surprised they did not wait until the foundation agreed changes before announcing
A significant placing.(40 000)

Positives

The share price has held up pretty consistently at around The 1p level for some time
And it shows once again that the Company are able to raise funds.

It is good news that Ce and George are both putting their hands in their pockets assuming that is what they are doing.

This really should be the last placing before a deal is struck for monetarisation .

The Company has all the ducks in a row and what I would have thought will be enough working capital to get to the next stage

Conclusions

The share price is likely to fall back but we are now on the launchpad.I’m sure Will can update us with how many shares would be issue on fully diluted basis.I suspect by the time the loan is sorted it will be around 1 billion.

[microscope] 03/5/2022 17:45

Odd one. 5 million shares for CE, and for George, 2 million for Cook.

No mention of where the other 40 million have gone.

Given that 40 million represents nearly 6 per cent of the number of shares now in issue, would anticipate further holding announcements in the next day or two..

No mention of the loan or Dagg so unless we are subsequently told otherwise shortly, perhaps they have gone elsewhere. In which case there'd be another issue to come, we shall see - or they could use 150k of the cash raised to continue the loan for another 6 months (equivalent of the 15 million shares issued last time for 6 months)..

It would actually be good to see new blood on the register, but as others have said it's a disappointing issue price, and it remains to be seen whether an instant or quick 25 percent will prove a temptation to them.

40 million at 1p does create a substantial potential overhang.

[nobbygnome] 03/5/2022 17:36

I feel pretty certain that this will be one of the placing a which are quickly seen as a positive. Feeling very confident this evening…

[hugothesecond] 03/5/2022 17:32

Yes Nobby if there is any weakness tomorrow in the price (the MMs will ensure there is) should be snapped up as news cannot be too far away.

[daicaprice] 03/5/2022 17:28

A chance of a few more cheapies as well.

DC

[nobbygnome] 03/5/2022 17:25

Yes disappointing price but apart from that not a surprise and we can move forward well funded. If the price opens at 1.15 or below offered I will be buying tomorrow morning!

[hugothesecond] 03/5/2022 17:19

My thoughts as follows;
The funding price is disappointing but Mergos would not want to be at a disadvantage to other directors in terms of previous share purchases at 1p.
I cannot recall 3 shareholders buying at MIN together - strong signal as they expect a positive outcome of future discussions.
In terms of the size of each of the purchases they are quite chunky and once a deal is done with the F we wont see this price again.

[daicaprice] 03/5/2022 17:09

As you say waterloo it’s out of the way and Director buys is a great signal, bring on an update.

DC

[waterloo01] 03/5/2022 17:05

I'm relieved it's done, if not the price, although it doesn't surprise me as pre Foundation news and with market febrile.

Mergos buying along with CE and Cooke is a strong signal to me, but bring on the 'told you so brigade'

Makes little difference to me my expectation is that we'll end up by the time of commercial deals with 750m shares

[rafboy] 03/5/2022 11:58

Primed for a move up on the news you suggest Hugo.