Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Obviously there will be areas of infrastructure that need to be organised but the developer should be able to organise this as a matter of course. Roads can be planned and put in where necessary and as for services, modular systems can surely be used for both water and waste water and power will either be generated on site via solar/wind or piped in.
No need to go on.
The minimum I expect here as an end game is 6p.
My target however is 10p.
My end 2020 target is 3p.
Nai/DYOR
Not just "bare" land:
It is the largest private estate in the Eastern Mediterranean (Approx 10 square miles). Plenty of room therefore for those wanting there own "living" space post Covid 19.
It is in a UNESCO designated geopark - an area of outstanding natural beauty and spectacular unending sea views.
It has an un-appealable Presidential Decree granting outline planning consent at FIVE sites, four are on the coast - all with impressive sea views.
It has been granted “strategic investment” status by the Greek government. The Greek Govt are bending over backwards to accommodate.
Need I go on...........................!!
The cost of inventories remains at £46M in the Balance sheet - Still no impairment - auditors must be satisfied that the value of the project exceeds this figure.
Quite a surprise that the market cap is just a tenth of this at £5M.
Inventories
Inventories represent the actual costs of goods and services directly attributable to the acquisition and development of the Project and are stated at the lower of cost and net realisable value.
"The report of the auditors on the statutory financial statements for the year ended 31 October 2019 and 31 October 2018 was not qualified.
The report of the auditor on the statutory financial statements for each of the years ended 31 October 2019 and 31 October 2018 did not contain statements under section 498(2) or (3) of the Companies Act 2006.
And from the auditors report of Minoan Group:
"Reviewing correspondence and other third party documentation in relation to the project to confirm that the expected value of the project is in excess of the costs to date;"
Therefore INDEPENDENT EVIDENCE must have been collected by the auditor which endorses the value of the project is in excess of £46M.
See the market makers are up to their usual tricks here.
Drop severely to 1p bid but then bid for 500k at a premium !
Someone bought 2.2m on Friday at 1.35p and they are trying desperately to try and get those back.
My target before Xmas is 3p which would be a 50% discount to the amount the auditors signed off on the asset in the accounts which is £46m.
Love these value plays when they are bombed out and have so many bad years behind them but the new guy isn’t getting involved not to make money imho.
Nai/DYOR
Good morning Truthfactory, what you are describing as a creditor is in fact a contingent liability and there's a big difference between the two. If you don't believe me take a look at page 19 of Loyalward a/cs ye 31/10/13 it is explained in detail there. The amount due to the Foundation only becomes payable on activation of the contract - it is misleading to call it as a creditor.
Since you have rather hidden the truth on that and can't come up with a reasonable explanation behind your comments about the contract with the foundation I can only assume they too are designed to be as misleading as your first comment.
Truth I’m afraid Hamilton is another Bigwell he don’t get it hence 1.15p Fact
Thank you. I’m glad the auditors think the asset is worth more than £46m also : )
Nai/DYOR
Glad I’m buying down here and not way higher like most.
Let’s see how it pans out with the new guys : )
Nai/DYOR
I suppose Bigwell after so many decades you could be right LOL
What goes round comes round Arsenal - at the end of the day the last laugh will be ours.
You two are like a comedy act so laughable but very naive ,let us see where the SP is in another month ok ,Bigwell this is the present mate 1.35p do you get it ? LOL
That is why so many miss out on aim multibaggers. They only look at the past performance.
For me, the biggest piece of news in MIN’s history has happened recently and the auditors have signed off on an asset in the accounts at c. £46 million !
The current market cap is £7m lol
When people realise the disparity there is only one way this sp is going.
Nai/DYOR
Arsenal - Living in the past with a blinkered and negative viewpoint affects future judgement especially when circumstances change for the better as they have done here and should continue to do so.
Going on for decades yet just recently one of the top men in the country in his field and the field in which MIN operates decides to get involved : )
Oh and you up the detailing and lies !
Might up my 10p target soon if you carry on : )
Nai/DYOR
Hamilton get real mate I’ve seen this drop to 0.70p and I’m Not interested just accept that some of us have opi that differ completely with yours and Bigwell but as I and others have said before this has been going on for decades and continues to do so good luck you will need it !
A couple are obviously trying to buy in cheaper : )
Seen it so many times before.
I’m upping my target for MIN to 10p.
Nai/DYOR
I disgree Truthfactory:
1) outstanding payment for land is not in creditors (I would suggest you take a 2nd look) it only becomes due when the contract is activated ie when the bulldozers go in.
2) Where on earth is your evidence that royalty pmts to the church are a no go area?
3) Company is still a viable proposition through the determination and tenacity and optimism of its chairman.
4) Placings recently raised £450K so where does the no cash come from?
Truth They won’t get that mate as they are clear Facts something they just don’t accept ,still living in make believe land hence 1.35p
No your both wrong have called this BOD and SP correct for years because I believe in Facts something you 2 don’t so if you want to keep on believing that is your right and I will always have a negative opinion on this ,I would not buy into this with either of yours money so you keep on being optimistic and I will be realistic good luck hence 1.35p
He must be looking to buy cheaper. No other explanation for it really.
Nai/DYOR
Arsenal takes great pleasure in rubbing your nose in it at every drop in the share price - not the act ions of a bb Samaritan IMV.
Hhhmmmmm, like a bulletin board Samaritan then ? : )
Wonder why the interest of you don’t hold ?
Nai/DYOR
Not a penny my friend I actually made just over £500 a few years ago I ,would hate it if people like you Bigwell and others get taken in by this BOD who have filled the boots for years without any substance so be careful hence 1.35p ,FTSE 100 companies for me not these rogues I’m afraid
How much money you lost in MIN ARSENAL17 ?
Nai/DYOR