Member Info for eshaitan

Wishbone got a mention. If the company can deliver on what they hope to achieve this year the share price should go to around 2p. I will have another top up Monday afternoon when I finish work, especially as they may issue an update before the investor show.

the 52 week low and 52 week high are just 2 days apart. I'm out now and happy with my profit. Watch it shoot up again now :) Good luck all.

Nice one. I'm in opti as well, the skin spin off will be interesting. Saying that these make up for premaitha and fox marble, I lost on those so far! This will come good I think. If they hit 100kg sometime this year, this will rerate quickly, it's just a question of patience.

Don't get too excited 12k of the buys today are mine, my profits from Minoan today. One if tom winnifriths share tips of the year came in. I bet this one will as well, so I have topped up. Hopefully good news soon Kums.

Personally I have sold half and if it goes much higher they can have the rest! The company now has a 20 million mcap plus 10 million in liabilities. They pretty much have to raise money now. Throw in the warrants, the years it will take to develop and the fact that they don't own the whole project and the local monastery is on a nice little earner from all the proceeds and this isn't worth 100 million. Hope I'm wrong though and that everyone has made a tidy profit today.

I just had a big "woo hoo" moment. Everyone thinks I'm nuts.! Its going to take a while for people to catch on to this.

Thanks for the post . Great news, hopefully we will get it confirmed by RNS later. If this is right the exnd of year report may need a quick revision!

Fingers crossed indeed. I won't get too excited until we are out of the 6p - 7p range. Truthfactory I was thinking the same, the corporate development division just takes costs out of the travel business making the costs look better but if it all comes together it could still be profitable quie profitable. It's just a shame they are using brexit as a reason for a sudden downturn of bookings, so not sure what the end of year will show. On the positive side if Greece does get approved then I think the 40 million valuation (goodwill) the company has put on the development is definitely achievable. The planning laws make new developments so hard it could be worth a premium to that. It would be hold on to your whiskers time as this would go near 20p I think.

Totally agree. I can see why they did it. With Greece going nowhere fast, try and ramp up a part of the business that could be profitable and try to mitigate the losses or cancel them out. If the travel business could have grown to 100 million revenues per annum like they targeted it could have worked. It could also have made Minoan creditworthy for mainstream lending. I'm not expecting any news on the appeal so what I want to see is the breakdown of costs over the 3 divisions. At the end of financial year 2015: Luxury resorts division lost 1,342,000 of which 968000 was finance costs. Corporate Development lost 511,000 which I assume was acquisitions for the UK business travel business or investment in infrastructure. The Travel and Leisure made 233,000 after tax. How will 2016 turn out and what is the current cash position? I think the latter will be awful. I'm also wondering what Minoan could get for selling it's travel business in it's entirety. If they believe in Greece that much it may be worth being open to offers.

I suppose they might be able to extend it again but they would get screwed for doing so. Everything hinges on the Greek approval as always. I'm a bit tired of the finance costs always dragging the company into the red. This year will be no different. The original terms of the loan at 8pc interest were not too bad but I don't like the amount of warrants overhanging the share price that goes hand in hand with it. Update is usually in the last week of March, so at least we will have something to get our teeth into.

Will anyone be attending that day? Unfortunately I'm now based in Australia, not London or I would have gone and had a chat with them.

This will turn in a flash on news. I have had a couple of top ups this week as I'm pretty comfortable they will announce more contracts soon.

Yawn indeed :) At least final results are on the horizon.

The appeal was heard on the 16th September last year. Gem from advfn put a great link from the Greek press on the meeting. It lasted several hours, both parties had to submit paperwork by 30th September. The appeal process was expected to take 3 months. Of course this being Greece they probably broke up for Christmas sometime in October :) So yes, still waiting for the appeal to be rejected and the original Presidiential decree upheld, but trying to pin a date on it is impossible.

There's very little point in owning the site even if the Orthodox monastery of Toplou could sell it - I'm not sure what the charter of this charitable foundation are. If permission isn't granted and it's undevelopable it's pretty much worthless anyway and Minoan at least with a lease can walk away when it expires. One way or another it should be decided soon, I'm pretty relaxed on the risk/reward here. The same government agencies that approved this as part of the presidential decree reaffirmed their support for this in the appeal. The freeholders must want this to go through to increase the value of their land and also to monetise it. The same people against it are the environmental lobbyists who have already got the development shrunk down to a smaller 26 acres anyway and will never be pleased unless its empty land. The Cretan hoteliers and their political lobbyists are never going to be satisfied with extra competition either so nothing has changed there, we know they are against it. We are in exactly the same position as when the presidential decree was passed, the decision should be the same. Worst case scenario this gets delayed/not passed in which case the travel agency still cannot cover the costs of finance and administration costs from the listing and they still burn through 1-2 million per year with more dilution and share options no doubt. In which case take think about taking a hit and sell out. Best case they get permission in a matter of weeks, raise a bit of money on the share rise and have enough in reserve until proper financing can be arranged and maybe enough to expand the travel business. The 2 elements should be separated as soon as possible. Even consider selling the whole travel business off , its too competitive an industry to generate big returns and just concentrate on unlocking shareholder value from Crete. Any option that gets planning will see a substantial increase in NAV and shareholder value, a multiple more I think than a potential refusal. The final results next month will be interesting. H1 was good, H2 took a brexit weak pound hit and then 1st quarter this year fully recovered and increasing again. Will the travel division show a profit for the year or was the loss in revenues enough to drag it into a loss?

The risk is the timeframe, the decision is likely to go Minoan's way. The Greek planning system where anyone can appeal a decision without cost is crazy. It slow's everything to a snail's pace but it's at the final hurdle. I expect a pretty substantial rise on positive news and then I'm out. If it's taken 25 years to get through planning already god know's how long it will take to build the resort and realise value from it.

Right. Of course if this gets final binding approval we would hope the shares to go significantly above that.

I misread the RNS, I skimmed over it. I think you're right that is completely wrong. I have asked TW to find out what is happening.

I misread the RNS, I skimmed over it. I think you're right that is completely wrong. I have asked TW to find out what is happening.

May not move the share price that much as Trading started a couple of months after expectations. But the 1million dollar profit from trading shouldn't be too far away and they will have to RNS that. I expect share prophets to do a follow up on their tip and they usually squeeze out a bit more detail. That usually helps the share price a lot.