NO BRAINER27 Mar 2017 09:26
hxxp://www.*************.com/views/28034/minoan-a-final-nai-yes-buy
Minoan - a Final Nai! Yes! Buy!
By HotStockRockets | Saturday 25 March 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from *************). I have no business relationship with any company whose stock is mentioned in this article.
We wake up to discover reports across the Greek press that the appeals against the Presidential Decree granting land use approval, for its cave Sidero Project in Crete have been rejected by the Greek Supreme Court. Minoan (MIN) says that it has not yet seen an announcement from the Greek Supreme Court but that it will update the market once one is issued.
But this does look like the real deal. The shares have surged to 9.375p. That values Minoan at £18.2 million. We are down on our original tip at 11.875p but if you averaged down at 6.25p as we urged just two days ago on Wednesday you are in clover! How about you bring gifts of ouzo to UK Investor Show to say thanks!
Where next? The formal confirmation should drive another re-rate. The group's T&L businesses are now of a scale where they must be worth at least close to the current market cap.
But the jewel is Cave Sidero which even in an undeveloped state has got to be worth £60-100 million. We would expect commercial approaches to invest in Cave Sidero to come soon and to validate those numbers.
That makes the shares still very cheap indeed. Buy at up to 11p with a target to sell of at least 16p.
DYOR
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