Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.
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