Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Hi bigwil if you mean by assets CS that's worth in-between £50m and £100m they also need to find 500k before year end,how long do you think before they'll have property up for sale?you do realise they still have to apply for building permits,wonder how long that will take given how long it took to get the PD and all this is when they have signed some partners up and seeing how long it's taking to sell the travel side,need I go on.
We start our seven share tip Tuesday with Malcolm and Nigel. Like all the other writers they were asked to tip a share to gain 33% by Christmas. In both cases they have put their money where their mouth is. And now Nigel Somerville I�ve been asked to ponder this question and for a few days tried to come up with an answer. The problem is that markets generally seem to be a tad over-enthused so sentiment could turn and knock the shares down even on good news. My preferred furrow is for shares which are, for whatever reason, out of favour. Having written recently about two such stocks (in my view) � AIM-listed Minoan (MIN) and fellow AIM company Bowleven (BLVN) - perhaps I should look there. I own both stocks and hope for a profitable exit in the near (-ish) future. Both seem to have assets with real value, just needing a moment of sunshine to show investors the potential. In the case of Minoan, that would take the form of a deal to cash in on at least some of its Cavo Sidero project. Meanwihile, Bowleven has pots of cash (about �65 million, around 2/3 of its market capitalisation) and a 20% stake in the Etinde oil/gas play in Cameroon, which some might suggest is worth more than the entire company. Of course, it is only worth that if someone offers to buy it�. Then there is the cash � does it really need �65 million now that it has no COO and is a holding company? So with Bowleven the hope might be a distribution, or a deal with Etinde. Minoan just has a deal to go for. I rather fancy that this time next year we will have seen both play out very nicely, but the question is with reference to this Christmas. Could one of them produce the break-through RNS in time? With Bowleven there are planned drills (it has a carry through those) so I guess we might have to wait for that. And it has just had its full year results, and there was no excitement about the cash to report. On the other hand, Minoan has a loan of �5 million to repay, which was last extended to the end of this year. If it wants to extend again it will probably cost another slug of warrants and (yet more) interest (it is paying 8%). If the company wants to get a monkey off its back, a small deal to raise enough to pay that off and put an implied price tag on the rest of Cavo Sidero would transform it. So despite moanin� about Minoan for the eternity it has taken so far, I�m going to plump for that one as my Christmas share tip for a 33% gain.
which Hotstockrockets reckons could be worth Minoan�s market capitalisation on its own. Nobody seems interested in the Minoan story (perhaps hardly surprising, given how long Cavo Sidero is taking!) but that suggests an opportunity � especially in this time of asset madness. Naturally, I believe the company will deliver (otherwise I would have sold out long ago) and although it has tested the patience of a saint, it does look very close. A final word with regard to the Hillside loan: the maturity was extended to the end of this (calendar) year. I wonder whether the company held off from a longer deal because its negotiations are progressing well enough to announce progress (and pay off Hillside) before the end of the year. Meanwhile, with the shares languishing at just 7p in the middle, it looks a good time to pick up some more. You never know, it might even provide a Christmas present.
Minoan � waiting and waiting for payday By Nigel Somerville, the Deputy Sheriff of AIM | Sunday 26 November 2017 I hold shares in AIM-listed Minoan (MIN), the ownership of which has proved a mighty frustration for years and years � first we had the almost interminable application for the resort at Cavo Sidero which was finally won and all appeals have now ended. But now we are waiting for the company to cash in�.how long will that take? I had hoped that deals would be flowing � after all, the company announced back in June, as it revealed that the final appeals had been dismissed, that: As a result of the Greek Supreme Court's decision, the Company can now accelerate the development of the Project, which will include, inter alia; the continuation of negotiations for joint venture arrangements with hoteliers, investors, partners and other parties And� I look forward to providing the market with more news in the near future And in the interims, released 26 July we were told: With the dismissal of the Appeals against the PD, the Group is now in position to move towards the completion of a number of ongoing negotiations with potential partners and investors. It is also likely that, with the announcement of the dismissals, a number of previously silent observers will wish to become involved, as has already occurred. With the paperwork finally in the bag, you would have thought that negotiations would be easy to seal, but here we are almost 5 months on and we have heard nothing! But in the full year results (released 31 March) it was indicated that it may take a little time, with the chairman (Christopher Egleton) commenting (then in the light of Greek media comments about the now confirmed permits): the next twelve months are likely to be the most value enhancing in the Group's history. That seems to look very positive � especially as we are now (almost) eight months on. The interims carried a similar message � although (perhaps slightly worryingly) we were still being told that the forthcoming year looked set to be the transformational period. Markets seem to have been pretty exuberant of late � oil companies valued on huge multiples of hope, the technology unicorns, house prices and all sorts of other outlets for people to lose money in the longer term. But Minoan has stood adeptly aside from the madness. Its shares are valued at just �14.8 million (source: ADVFN). It also has secured lending from Hillside to the tune of �5 million and at its interims reported �14 million of current liabilities (including the Hillside loan). But that is still only c. �29 million and Cavo Sidero is expected to be worth as much as EUR100 million. Even half that figure would make Minoan look cheap � and then there is Minoan�s other business in travel and leisure, which Hotstockrockets reckons could be worth Minoan�s market c
spbhoy it's a good honest update with a lot of positives in it,happy i've been adding while some have been selling. "That said, the company seems closer than ever to delivering for shareholders and the rewards could be substantial. Existing investors should stay with the business and keep a close eye on events. Highly adventurous punters may choose to snap up a few shares too."
https://tinyurl.com/y9xmy2vu The British are also "looking for" a hotel buy-in Despite the many years of "adventure" in Greece, the Minoan Group's Brethren are reportedly also preparing for a next investment "hit" in our country, wanting to capitalize on the dynamics of our tourism and the opportunities presented after the clearing of " Red "loan portfolios of banks or because of the inability of many entrepreneurs to maintain their units. Minoan's management has been in the process of buying a hotel complex, which is why it seems to have been tortured by banks and businessmen for hotels that are interesting occasions. Her "gaze" turns out of Crete this time with circles of the market talking about a flirting takeover unit on mainland Greece. What the British company also wants to make use of are the synergies that arise from the fact that in its portfolio there are more than 10 tourist offices, handling 100 thousand customers and can more easily fill hotels, wherever it operates .
Minoan – debt extended, now for the deals? By Nigel Somerville | Sunday 2 July 2017 AIM-listed Minoan (MIN) announced on Friday that it has extended its loan deal with Hillside. So much for that having presented a problem, then! The extension given Minoan another 6 months on the same terms, barring the dropping of the price on 10 million warrants to 8p (from 13p) – perhaps a bit pricey, but the company now has a fairly clear period ahead to capitalise on the Cavo Sidero site, on which it got final clearance as announced on Monday last week. The big question now is commercialising the site – something Minoan has had much time to consider over the years! My chat with the company at UKI back in April suggests that this may be quickly achieved (at least in part), and that may well be the cue the market is waiting for to mark the shares higher. I suspect that the recent placing really will prove to have been the last – and only done because the confirmation hadn’t come in time. That, of course, suggests that the company really was on the brink of signing some deals, and that news will be pretty quick in coming on that score now that everything else is in place. HotStockRockets has a buy up to 11p with a target to sell at 16p+ and I find it hard to disagree. I’ll be watching this stock like a hawk in the next few days to bag some gains, but perhaps with an eye on history I’ll be a little quicker off the mark with a first sale before settling back and waiting for the big prize. Here’s hoping, anyway.
Minoan - as predicted here: Loan extension given: BUY PUBLISHED: 30 Jun 2017 @ 12:33 As we predicted exactly one week ago here, Minoan (LSE:MIN) will not – as some Bulletin Board savants had suggested – have to repay the £5 million loan it got in October 2013 from Hillside International Holdings at close of play today. Minoan clearly did not have the cash. The loan will be extended to 31 December which will allow Minoan to monetize part of its stake in Cave Sidero which is clearly worth a multiple of the current £20.3 million market cap. In return for the extension Minoan has altered the strike price of 10 of the 50 million warrants that Hillside was granted in return for providing the loan from 13p to 8p. So there is a tad more dilution but given that Minoan’s T&L business must – on any normal sales multiple – be worth at least half of the current market cap and that Cave Sidero now cannot be stopped by Green nimbies and is worth a multiple of the market cap, in the greater scheme of things it is irrelevant. The shares are up a smidgeon on the news at 9.5p-9.75p but are still very cheap and really should motor fast on any news on the monetization of the Cretan resort site. We do not expect to have to wait that long for developments on that front and thus the stance at up to 11p is BUY with a target to sell of 16p+
scotty129 Jun '17 - 15:59 - 8393 of 8393 0 0 Edit GJ seems you are more or less correct re appeals just had a confirmation mail that these are just "mot appeals just process"so that's one concern dealt with,just hope now the BODs sell or at least sell most of the project on and perhaps just keep a small stake in and concentrate on the travel side.
There are numerous new overlapping laws and these are the very first strategic projects" yes and it looks like new appeals can be admitted against them,not cut and dried yet,Hopefully the BODs will sell all the project on and concentrate on the Travel side of the business.
Don't want to burst your bubble cocoonocchio but to me it doesn't look all cut and dried to me as in this piece it looks as though appeals could be still made re new environmental study https://tinyurl.com/ybkm77bh New environmental conditions study What are the next steps in the implementation of the investment? As the mayor of Sitia explained to us regarding the procedural steps, "the next step in implementing the investment will be to deposit the environmental terms on the part of the British company. A new Environmental Impact Assessment will be submitted for approval to the relevant ministries, which will of course pass (but at the level of the opinion) and here the Environment Committee of the Region of Crete ". After the approval of the new environmental study, and unless a new appeal is made to the CoE, "investors will have to issue the relevant building permits, which, precisely because the investment is part of the familiar framework of strategic fast track investments, will Issued centrally by the ministry. When building permits go out, investors can get ahead of construction work. In theory, this can be done in one and a half to two years from today, "concluded Mr. Paterakis.
https://tinyurl.com/yaa633o7 According to information from Capital.gr , the next step in the implementation of the investment will be the deposit of environmental terms, expected next autumn. From that point on, given that planning and planning issues are now "closed", the course of the project and the start of the construction leg will depend on the timing of approval of the environmental terms by the relevant ministries. , However, the delay resulting until the final decision of the CoE is likely to affect the initial planning.