Minoan Share Discussion Threads

[boliviana] 10/5/2022 07:20

Waterloo, that’s interesting I didn’t know about a change of Bishop that explains a lot. I did wonder how much of change George might make on the face of it without knowing any more a new approach and fellow Greek can only be a good thing I would have thought.

[wi1l] 10/5/2022 07:08

Thanks Boliviana, more development of interest.......

Saronida coastline set to become a luxury resort



The seaside southern Attica town of Saronida is on track to becoming a luxury resort, thanks to a 750-million-euro investment project for holiday housing, hotels and a golf course on a plot of 6.5 square kilometers belonging to construction cooperative Ygeia.

Bearing the name “Saronida Olympos Golf,” the investment vehicle of VITA Development has received the approval of Enterprise Greece and is on the agenda of the Ministerial Committee on Strategic Investments for approval this Friday.

[waterloo01] 10/5/2022 06:50

Boliviana, I think a number of things happened in the last two years that held us back, including covid, and a change of bishop. The 'old' Bishop was a big supporter (did original deal). The new bishop I suspect needed some convincing, and hence the Deloitte work on updating the business and design plans, which had at that point become rather out of date. That's been done and have provide the church (and investors) with some reassurance. Add in a reluctance to deal with CE and with the change at the top with George, who they clearly will deal with, and things are moving.

Time to look forward not back.

[scotty1] 10/5/2022 06:29

For some reason will not let me post the link for Equity Development

06 MAY 2022
Statement sets out catalysts for potential rerating
Minoan’s statement for the year to end October 2021 sets out the status of its Cavo Sidero project in Crete, and details of the progress made during the period (and post the year-end) to bring the development towards implementation.

The project is a luxury hotel and villa development that will house four luxury five-star hotels and villa complexes. Minoan commissioned new studies for the detailed environmental assessment of the project and site during FY21. These underpin a revised masterplan which incorporates a new, more luxurious development that fully capitalises on the asset’s ‘Strategic Investment’ status.

The investment case pivots on potential for Minoan to secure (a) an amended agreement with the Foundation in 2022 and (b) development partners to undertake or partner / purchase discrete components of the scheme’s hotels or villas, typical for this type of development.

The current business plans forecast, once the resort becomes fully operational, a stabilised turnover for hotel & villa rental rooms above €100m pa which excludes real estate profits. Catalysts for rerating, short term, will be provided by firm evidence that MIN has navigated key challenges and made the development a reality. In the immediate term, any revised agreement with the Foundation should prompt a reappraisal of the group’s investment appeal.

Download as a PDF file

[boliviana] 09/5/2022 23:37

I suppose CE was reluctant to hand over to someone else when so close to the project moving forwards but maybe he should have sooner.

Under £8M market cap surely for those of us investing around this 1-2p area we should be looking at a minimum of 5x from this level of share price

Thoughts anyone ?

[boliviana] 09/5/2022 23:30

Thought that nearly 2 years ago, oh well is it soon or imminent ?

Joking apart when our new man gets the man from the ministry, I mean monastery to sign some documents to see this project on the road events could move very much quicker than they have and Minoan shareholders will have something to smile about at long last.

[boliviana] 09/5/2022 23:25

You make a very valid point Waterloo, up front payment will be small beer against a £250M budget.

We must be getting much closer to that day now and a much more exciting period for Minoan’s shareholders.

[atlantic57] 09/5/2022 22:03

This is the only bb open to all posters now so it may get more traffic .

[terminator101] 09/5/2022 21:58

Seems that "free speech" and caution is in very short supply on here. Wouldn't want anyone to point out that there is zero revenue or that literally hundreds if millions of pounds is required as well as many years of building (assuming of course that they find a partner and get approval to build). before shareholders will see any kind of return. More red flags than China, but guess that doesn't bother the cult huh.

[waterloo01] 09/5/2022 20:44

An interesting point. Living up to your moniker. Contract activation is in effect when they break ground oe something similar as I understand it. Don't think an upfront at that point will be much of an issue on a project that has a 250m ultimate budget. It's a big old site and the foundation will be a lot wealthier long into the future, for those looking for a motivation.

[microscope] 09/5/2022 20:27

Still no holding announcements.

I think this (below) is the nub of the issues being negotiated - it's a pity that details of royalties are not specified there as they will start to appear as liabilities from day one of contract activation (from p.34 of annual report on company website).

"The development site of the Project is to be leased from the Public Welfare Ecclesiastical Foundation Panagia
Akrotiriani (“the Foundation”) for an initial 40 year period following contract activation which will follow the
relevant authorities approving the land planning and land uses for the Project. The Group has an option over a
further 40 years. An amount of £3.9 million is payable to the Foundation on contract activation, plus ongoing
royalties earned on revenue generated by the development."

Not sure where the 3.9 million is coming from!

PS: Fun fact. if you use the android app, you can still read moderated posts :)

[boliviana] 09/5/2022 17:30

I see a lot of speculation today regarding the placing shares. I agree with those comments that a lot of them will have been sold in advance.

[boliviana] 09/5/2022 17:26

I’ve been missing your research where you find all the golden opportunities that await us when our new leader gets a deal from the monastery.

[pj 1] 09/5/2022 17:26

All the other thread are assuming the negotiations with the Monastery are for the benefit of Minoan.

However, I note ''The Project'' has now been referenced as ''The Project 2'' and the original plans MIN commissioned have been altered, at further cost, to try and pacify the Monastery.

I would ask CE if indeed the Monastery really do want this development or not.

[boliviana] 09/5/2022 17:24

Good to see you back Will I hope you are on the way back to full health and at the top of your game.

[atlantic57] 09/5/2022 17:14

Fireplace I would be happy to get my money back.

[fireplace22] 09/5/2022 17:06

waterloo, my experience it that it paid to invest elsewhere. The time scale here, I was in for donkey's years, before the PD, final average was about 1.5p. Made multiples with with similar capital involved in oil stocks. Whatever happens now with MIN it will never achieve the same gains.

[arthur_lame_stocks] 09/5/2022 16:58

The PD was supposed to be the catalyst, that was about three years ago. It's always soon with this company whilst there is a constant stream of confetti being issued to settle bills.

[waterloo01] 09/5/2022 16:56

fireplace, plenty of recourse stocks would have lost you 100% of your money (I should know I invested in one or two, along with some winners).

As for the return, it rather depends when you have bought in, or average, when it does 'come good'.

As for the market, I agree on a macro level. However we are awaiting the outcome of contract negotiations, and once they they do conclude, it becomes seriously undervalued.

Real estate and high end tourism, esp in Greece, should prove to be a relative safe harbour.

[fireplace22] 09/5/2022 16:35

likewise! It's been a massive waste of time and investment capital tied up even if it does eventually come good. Same cash invested in resource stocks would have returned multiples of what MAY eventually come here. With a market crash and recession looking evermore likely, that possible pay-out must be diminishing.

[wi1l] 09/5/2022 16:24

Seems like those who took part in the placing are in the main holding tight.

MM's looking to buy 650K in one go on-line

[clocktower] 09/5/2022 14:44

There was nothing in T101 post 20061 that justified it being MODERATED when I read it, unless it was amended.

It gives this thread no creditability of free speech.

[nobbygnome] 09/5/2022 14:37

>> dp

I suspect most purchasers in the placing could have sold stock before today so don't think today is particularly significant. I have been involved in situations before where I have been able to sell well before the shares are issued. You just sell them T+10 or T+20