Share Name Share Symbol Market Type Share ISIN Share Description
Mercantile Port LSE:MPL London Ordinary Share GG00B53M7D91 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 8.125p 8.00p 8.25p 8.125p 8.125p 8.125p 25,831 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 0.0 -1.1 -2.0 - 33.64

Mercantile Port Share Discussion Threads

Showing 2826 to 2847 of 2850 messages
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DateSubjectAuthorDiscuss
22/11/2017
09:04
In 2018/19 they certainly won't be generating anywhere near the cash required to pay 50% of the interest on the debt, never mind any of the Capital. It is totally disingenuous to claim a 360m lightweight weather affected, open jetty as having 800m of 'working' quay length. Most 4,000 dwt small dry and break bulk carriers will only be able to access the 'Port' for 4 - 6 hours a day due to the the fact that no dredging has been carried out in the three mile Karanja Creek approach channel from Mumbai Harbour, other than off the berth(Confirmed by latest Navigational Chart updates). Which is totally contrary to the management's claim that approach channel dredging has been going on for 2.5 years and is now complete! Since a 2.5 year dredging contract for the approach channel for a minimum 4.5m depth (since reduced to 3.5m, the current natural scoured depth!), would have cost circa £5m plus, some 'organisation' would seem to have got paid handsomely for largely doing sweet FA, according to the latest Admiralty navigational charts. AIMHO/DYOR
mount teide
22/11/2017
08:38
Falling on sod all volume. Are they going to tap the market for more cash?
phowdo
05/11/2017
22:03
When is the first fisherman boat coming through?...
diku
05/11/2017
21:12
Have these venal charlatans no shame! The Confidence Tricksters masquerading as the Scam Ports and Logistics management, is thrilled to update the market and its clueless Institutional shareholders as to how their huge scam is progressing! Shareholders will recall after 2.5 years of so called on-site 'activity', the following project milestone was reached in June 2016: 75 acres reclaimed 58 Jetty Piles laid Then, contrary to RNS News, the scam artists STOPPED all Land reclamation and piling for the rest of the year to take their monsoon season 4 month fully expensed (£25,000 a month plus fees) annual holiday, before returning to produce what we correctly predicted would prove to be a strong contender for AIM's greatest work of fiction; namely the 31st October 2016 Shareholders Circular to fraudulently raise by false representation another £37m from clueless II's who shamefully carried out no due diligence worthy of the name. The Shareholders Circular fraudulently told the market that Land Reclamation and Berth Piling was continuing without interruption and the market could expect the following construction progress by the END OF June 2017: • completed the balance of reclamation work • constructed the remaining berths, four of which will be capable of receiving vessels Roll forward to the 3rd November 2017 RNS: The market is told that: 90 Acres of Land Reclaimed to date 248 Jetty Piles laid So, lets compare the progress made over the last 17 months to that expected from the Shareholders Circular: Land reclamation - in 17 months just 15 additional acres has been reclaimed against an expected target of another 125 acres, and 200 acres in total by June 2017. Jetty Piling - 190 piles laid in the last 17 months/2.5 a month (at JNPT Terminal 4 ITD Cementation averaged 82 piles/month following commencement of berth piling some 18 months ago). Against a target of the completion of the entire much scaled back lightweight open jetty and associated infrastructure, with 4 berths capable of receiving vessels! Will be fascinating to see what the cash spend has been since June 2016 for such a scandalously small amount of progress - sadly for shareholders that information will be kept a closely guarded secret until June 2018. The truly shocking lack of progress over the last 17 months suggests the hugely fraudulent £37m cash raise for a massively scaled down facility to that detailed in the IPO Documentation and found on the Company Website for the last 7 years, until the management were forced to recently change it following a series of complaints to the Nomad's Compliance Officer, will probably have largely disappeared in exactly the same way as most of the circa £90m of cash allegedly 'spent' to the end of 2016. AIOHO/DYOR
mount teide
03/11/2017
10:45
I think theres a clause on the land and licence allowing the local authority to revoke the lease and certainly licence in anycase if they prove inept so investor's are screwed what ever happens.
my retirement fund
03/11/2017
08:49
Still looks like they are doing the MINIMUM required to keep the project 'alive' imo
pj 1
03/11/2017
08:43
They don't own the land. It's leased from the maritime board.
waterloo01
03/11/2017
08:40
Read the wording carefully. As phowdo says they've done just about nothing and no mention of generating revenue. Does the reclaimed area have any worth as an alternative use like houses.
orinocor
03/11/2017
08:18
lol. Nice to now it's making Modi happy, shame they aren't as interested in shareholders.
waterloo01
03/11/2017
08:02
Blimey, they've done sweet FA again. Anyone remember this porky-pie from last year? Subject to the Company being able to secure the Funding by the end of the first quarter of 2017, the Company is working to the following timetable in order to achieve full operational completion of the Facility by the end of the third quarter of 2017: By the end of the second quarter of 2017 the Company expects to have: · completed the balance of reclamation work; · carried out further ground improvement works; · constructed the remaining berths, four of which will be capable of receiving vessels; and · completed the sourcing of all necessary equipment.
phowdo
18/10/2017
11:52
Following post was made last year on publication of the Shareholders Circular crafted to raise an additional £37m via a Placing and Open Offer. We described it at the time as a strong contender for AIM's greatest work of fiction. On re-reading, incredibly, even our dire predictions, proved to understate the scale of the deception! Latest thoughts/benefit of hindsight in BRACKETS AND CAPITALS: 'Declaration; disposed my holding in SPL earlier this year at a loss after losing all confidence in the company following a number of very long, and unsatisfactory telephone conversations with the MD, who imo is totally out of his depth. The only telephone comment/forecast he did make that proved correct - was that once the Management has something at Karanja to show the market, it will give Management the opportunity, should they so wish, to raise money from the facility, by either taking an industry partner or from new/existing investors. (DISINGENUOUS BEHAVIOUR AT BEST, ALTHOUGH MOST WOULD CONSIDER IT OUTRIGHT FRAUD, SINCE THE TERMINAL SPECIFICATION HAS BEEN DRAMATICALLY SCALED BACK POST THE CASH RAISE) The 'Chairmans Letter' in the Open Offer and Limited Placing taken together with previous project updates only reinforces my view that the management has lost all credibility and along with the NED's should be replaced immediately. Imo, the passage of time will prove this letter a work of fiction, as most of the development timeline forecasts are so totally unrealistic, as to be laughable considering the progress made to date.(PREDICTION PROVED 100% ACCURATE) Chairman's Letter: 'Subject to the Company being able to secure the Funding by the end of the first quarter of 2017, the Company is working to the following timetable in order to achieve full operational completion of the Facility by the end of the third quarter of 2017: 'By the end of January 2017 the Company expects to have: • completed the dredging requirement; • reclaimed 70 per cent. of the land; and • constructed two berths, one of which will be capable of receiving vessels. ' So, in the next three months, Management expect to double the land reclaimed from around 75 acres(i estimate it is currently nearer 65 acres) to 150 acres ( A total impossibility imo), even if they worked night and day they would be lucky to get close to 100acres in total. And after taking more than 6 months to pile 100m of quay, they expect to complete another 200m of quay piling in three months and have at least 150m of the quay wall and adjacent hardstanding complete for operations! Laughable. (AS CLEAR A CASE OF BANG TO RIGHTS FRAUD BY FALSE REPRESENTATION AS YOU WILL EVER SEE, SINCE MANAGEMENTS FORECASTS PROVED TO BE INDUSTRIAL SCALE DECEPTION - AS DURING ALL OF H2/2016 THEY WERE NOT CARRYING OUT ANY LAND RECLAMATION OR BERTH PILING WHATSOEVER!) 'By the end of the first quarter of 2017 the Company expects to have: • reclaimed 90 per cent. of the land; • constructed four berths, three of which will be capable of receiving vessels; and • entered into commercial agreements with end users.' It gets even better: in the 5 months from now to the end of March 2017, they expect to have reclaimed a total of 180acres, nearly three times the progress to date and have completed 600m of piling and 450m of berth development. (So utterly ridiculous as to be be unworthy of further comment!) (ONCE AGAIN, AS CLEAR A CASE OF BANG TO RIGHTS FRAUD BY FALSE REPRESENTATION AS YOU WILL EVER SEE - MANAGEMENTS FORECASTS AGAIN PROVED TO BE INDUSTRIAL SCALE DECEPTION - AS BY THE END OF Q1/2017, THEY HAD RECLAIMED A TOTAL OF JUST 4 ACRES IN THE PREVIOUS 9 MONTHS AGAINST A TARGET OF 105 ADDITIONAL ACRES - MAINLY DUE TO THE FACT THEY FAILED TO CARRY OUT ANY LAND RECLAMATION OR BERTH PILING WHATSOEVER IN H2/2016 DESPITE REPEATEDLY CLAIMING TO THE CONTRARY IN RNS STATEMENTS AND THE SHAREHOLDERS CIRCULAR FOR THE CASH RAISE) And now for the grand finale! 'By the end of the second quarter of 2017 the Company expects to have: • completed the balance of reclamation work; • carried out further ground improvement works; • constructed the remaining berths, four of which will be capable of receiving vessels; and • completed the sourcing of all necessary equipment.' They expect between now and next June to reclaim around another 140 acres, and complete a further 900m of piling and around 800m of quay development! (Total and utter nonsense - this is so ridiculous, that the management are putting themselves at risk of being taken away in straight jackets, if not handcuffs!). (ONCE AGAIN, BREATHTAKING DECEPTION - JUST 15 ACRES RECLAIMED AGAINST AN EXPECTED FIGURE OF 125 ACRES AND 200 ACRES IN TOTAL, AND ZERO BERTHS AGAINST A TARGET ON FOUR BERTHS CAPABLE OF RECEIVING VESSELS) 'At the end of last year it became apparent to me the executive management were either a bunch of totally incompetent idiots, or were operating a XXXXXXXXXXXXX.' WELL THE MANAGEMENT'S UTTERLY MENDACIOUS BEHAVIOUR OVER THE LAST YEAR TOGETHER WITH FURTHER EQUALLY SCANDALOUS HISTORIC REVELATIONS SINCE EXPOSED TO THE LIGHT OF DAY, SHOULD HAVE LEFT NO DOUBT AS TO THE ANSWER NOW OF THAT QUESTION If as management say they have enough money to get to the end of March without delaying the pace of development, it begs the following question: BY implication, they already have sufficient funds to develop at least 150 acres and 600m of berths without the need to raise any further funds. THIS IS MORE THAN SUFFICIENT TO EASILY MEET THE FIRST 3 to 4 YEARS OF OPERATIONAL USE - SO WHY THE NEED TO RAISE MORE FUNDS? (EXACTLY - ANSWERS ON A POST CARD TO THE AIM REGULATOR AND SFO) It gets worse..... the operation is now being developed to have just 4.5m of water depth available IN THE APPROACH CHANNEL AND ON THE BERTHS. This is a HUGE NEW NEGATIVE as it will now restrict the operation to attracting JUST small barges and very small coasters of around 60-70m total length. (IT HAS IN FACT SINCE GOT MUCH WORSE - POST THE £37M CASH RAISE, THE MANAGEMENT HAS ANNOUNCED THAT THE DEPTH OF WATER AVAILABLE IN THE APPROACH CHANNEL WILL NOW BE REDUCED TO A LUDICROUS 3.5M - MY LOCAL YACHT MARINA HAS MORE THAN THAT!) 'IMO - No Port Operator in their right mind would spend the best part of £150m to develop 200 acres( in reality it will not be anything like that on 'completion' next year) and 1000m of berths to handle such traffic. THIS IS WHY THERE HAS BEEN NO INTEREST FROM OTHER PORT OPERATORS - Ask yourself this question - why has no port operator been willing to pay around £30m for around 75% of the company - they could pay back the debt with the cash they currently have left and be left with the asset progress to date(clearly like me, they do not believe there is anywhere near £65m of asset value currently completed to date, and are not impressed with commercial prospects for a facility with such a massive operational draft' restriction. (PREDICTION PROVED 100% ACCURATE) Management now claim they are going to target container traffic from vessels in the anchorage - BIG MISTAKE - the management should do some research( a detailed investigation by a London and Mumbai based firm of marine engineers has shown that it is simply not possible to safely use the Mumbai anchorage for this type of barge operation for some 3 to 4 months of the year due to adverse sea conditions during the Monsoon season. (PREDICTION PROVED 100% ACCURATE - A DESPERATE MANAGEMENT HAVE AGAIN MADE THEMSELVES LOOK LIKE A BUNCH OF BUMBLING FOOLS MAKING IT UP AS THEY GO ALONG) Additionally, there has been no reported berthing delays affecting the movement of container vessels to the JNPT container terminals for most of the last 6 months following the introduction of the new terminal capacity there, and with further new terminal capacity scheduled to regularly come into operation at JNPT over the next 5 years this is unlikely to change. ALL of the problems creating delays for cargo shippers/receivers at the JNPT terminals are related to landslide terminal operations, administrative, and roadside access issues. (PREDICTION PROVED 100% ACCURATE - MANAGEMENT HAVE SINCE CAME OUT WITH THE TOTALLY DISINGENUOUS STATEMENT THAT DISTRESSED CONTAINERS AT THE JNPT PORTS Due TO CONGESTION WILL NOW FORM A CORE TARGET CARGO FOR KARANJA - WHICH A SENIOR OPERATIONAL MANAGER AT THE ONE OF THE JNPT TERMINALS PREDICTABLY LAUGHED OUT LOUD AT WHEN IT WAS SUGGESTED TO HIM!) Shareholders should be DEMANDING to know where the money spent too date has gone and to whom. (THERE HAS BEEN A TRULY SHOCKING AND SHAMELESS LACK OF ACTION BY THE MAJOR II's) If this funding proceeds - i believe shareholders will likely end up with a very modest facility by the end of next year comprising around 300m of heavily draft restricted berths capable of handling only tiny coasters and barges, and around 75 - 100 acres of hardstanding with modest load bearing capacity - at a 'cost' of close to £145m, but with a market value of probably around £45m at best(close to the bank debt outstanding on it), and with the prospect of developing a commercial operation that would be lucky to make a profit capable of even covering the interest payments on that debt , never mind make a return for shareholders!. (TO THE II'S - IF YOU OBJECTIVELY COMPARE THE ABOVE FORECAST TO WHAT THE MANAGEMENT PUT OUT IN AIM'S GREATEST WORK OF FICTION, THE SHAREHOLDERS CIRCULAR - YOU CANNOT SAY YOU WERE NOT WARNED BOTH VERBALLY AND IN WRITING IN THE STRONGEST POSSIBLE TERMS! AIMHO/DYOR
mount teide
12/10/2017
22:05
AIM International Company of the Year Award 2017 - Sponsored by CENKOS of all people! And the winner is: TAPTICA (TAP)
mount teide
09/10/2017
15:15
Interesting the mm's still happy to push this higher. Just think MT not saying you are wrong about this being a scam or not but the price is now 200% higher from the intraday low of all time at 3p offer
dave4545
08/10/2017
10:46
azalea - in exactly the same way, every billion dollar fraud committed in the US was aided and abetted by one of the big four auditors. As Harry Markopolos said, "in the history of accounting it’s impossible to name even one multibillion fraud that the Big Four uncovered." “Now, if I asked you, to name all the big, multibillion-dollar accounting frauds that the Big Four aided and abetted, we could be here all afternoon,”. Firstly - The Nomad told me that "as soon as the Company made them aware MPL did not have sufficient funds to complete the build out of the entire 200 acre development in one go to the specification detailed in the IPO documentation - they(the Nomad) told the management they would have to raise more funds, otherwise there would be problems from the IPO investors". However, the 'story' told to investors via company RNS, was that the company was not cash strapped in any way and wanted to raise further funds to complete the build out to the Directors 'preferred specification', which they did not reveal to the market until some 8 months AFTER the £37m Placing and Open Offer, although prior to that, some were were given specific details of it by management, without being made insiders, against stock market rules. Secondly - despite repeated complaints of allowing the management to purposely use obfuscation to mislead shareholders via way of Company RNS - it continued to occur - one of the numerous examples given to the Nomad's compliance officer was such a crude and blatant attempt to mislead, it was frankly laughable if it were not so serious: June 2016 - '58 Piles have been laid for the construction of the jetty' Sept 2016 - Piling for 100 meters of jetty completed March 2017 - 'Piling for approximately 40 per cent of the final quay length has now been completed.' It is totally impossible to ascertain the rate of progress from the information provided - from June 2016 through to March 2017, i repeatedly asked the Nomad to confirm what the final quay length was going to be for two reasons: To enable the market to be able to measure the rate of progress and, To clear up why scandalously 7 years post IPO a situation existed where shareholders were still being given conflicting information regarding the specification of the terminal: *The IPO document said the quay length would be 600m *Arden's 2013 Note containing a plan of the terminal specification provided by the company said it would be a 1000m all weather fixed quay. *MPL website - a '1,000m quay serviced by ship to shore cranes' As it turns out all of the above proved to be complete rubbish, because 8 months AFTER raising the £37m, the market is told the Quay was going to be a much scaled down, open, weather affected 400m(at best) jetty, with an operational running distance to the port storage compound some 30 times longer than the fixed quay in the design given to Arden for their 2013 Note and, as notified on the MPL website. Even to this day the front page of the MPL website shows an artists impression of a terminal at Karanja with a fixed 1,000m all weather quay - which is totally different to what shareholders are going to get. Thirdly - as a result of the totally ridiculous and completely implausible land reclamation and berth piling 'progress targets' specified in one of AIM's greatest ever works of fiction the MPL "Shareholders Circular' to raise another £30m from clueless II's in the £37m Placing and Open Offer - i repeatedly asked the Nomad from 24th September through to mid Jan 2017 for confirmation from management as to how work against the above progress targets was progressing. I was told everything was progressing in line with management's expectations and that the Nomad would arrange for the Management to give a call. I never got a call, so emailed Pavan and repeatedly emailed Jay. Both never replied. Why - because they knew NO land reclamation work or berth piling was going on at all in H2/2016, and that they had committed Fraud By False Representation in the Shareholders Circular by giving the Market progress targets that were a complete fabrication. Clearly rattled, the MPL management's and Nomad's next move was so stupid, amateurish and clueless it was beyond satire. In late Jan 2017, they unwittingly provided the Market with photographic evidence on the MPL website of their Fraud, by cheerfully publishing photographs showing that NO land reclamation or berth piling had in fact been carried out in H2/2016 whatsoever, and that the Shareholders Circular progress targets and expected commencement date of cargo operations were nothing more than a complete fabrication carefully crafted to mislead - since the photographs showed an identical land reclamation footprint size with the same perimeter protection for the monsoon season as seen in the June 2016 photographic update. When i put this to the Nomad's account representative, he had the gall to suggest otherwise and that more land reclamation work had in fact been carried out H2/2016, despite photographic evidence to the contrary. Only to be made to look a complete fool when MPL updated the market in late March, by reporting that a grand total of just 4 acres of land had been reclaimed IN THE NINE MONTHS BETWEEN mid June 2016 and late March 2017, against a target of 90% completion of the land reclamation, which would have meant A FURTHER 105 ACRES OF PROGRESS WAS EXPECTED. These are just a few examples taken at random from the top of the iceberg of research we forwarded to AIM Regulation, the SFO and the Nomad's Compliance Executive. AIOHO/DYOR
mount teide
08/10/2017
09:40
The nomads will be well aware of rhe score here. Their jobs will simply be two fold. Firstly making sure they comply with the minimal feeble AIM regulations whilst keeping any direct dealings with the company to the bare minimum. Secondly ensure their lengh of their appointment is secure to ensure their fees are maximised.
my retirement fund
08/10/2017
07:41
The Nomads are out of their depth in most of these types of companies. They are a token representation. Probably one guy just out of university is the point man. He'll have a layman's knowledge of the ports industry at best. The MPL management will run rings round him.
orinocor
08/10/2017
06:06
MT Are you saying, MPL's NOMAD, is "aiding and abetting" the white collar criminal running of MPL?
azalea
07/10/2017
12:20
A tale of two AIM companies which had IPO's in H2/2010 - one (CAML) run by a superb management with an enviable reputation of communicating with and delivering value to shareholders, the other (MPL) a complete investment disaster run by a self serving group of venal charlatans that has presided over the totally humiliating and unacceptable loss of 98% of shareholder value post IPO and are still yet to generate a rupee of revenue in 8 years! The passage of time suggests Central Asian Metals (CAML) is probably one of AIM's greatest success stories and certainly one of its best kept secrets - CAML raised $60m at IPO in September 2010; after paying the 2016 dividend CAML will have returned an astonishing $96m to shareholders in dividends and share buy-backs since the listing. Recent share-price weakness, the result of Fidelity, a major shareholder lightening 40% of their original investment(which had returned 60% in dividends and 120% capital growth during the worst mining sector recession for 50 years), created an opportunity to increase my long term investment three-fold, in order to get further exposure to a sector strongly forecast to benefit hugely over the decade ahead from rapidly increasing demand from the Electric Vehicle, Battery and Solar industries. CAML - a few stats: 2016 $69m revenue and $39m EBITDA @$2.21/lb Copper, 7.5% dividend(14,000t production) 2017 13,000t - 14,000t forecast production(they like to under forecast and over deliver) 7%+ dividend forecast at current share price 240p, with prospect of annual special dividend Current C1 cash cost of $0.46/lb($1.06 fully inclusive), Circa $43m of cash, no debt, Life of mine recently extended beyond 2030 for an asset that has an expected sustaining annual capital expenditure cost of just $2m CAML realised an average copper sales price of £3,417/tonne in H1/2016 Copper averaged £4,760/t in H1/2017 (39.3% higher) Copper is averaging circa £5,002/t to date in H2/2017 (46.3% higher) Each US Cent the copper price increases above $2.21/lb the average price CAML realised in 2016, generates $315,000 additional profit for CAML at forecast production. Copper is currently trading at $3.05/lb, still nearly 50% below its 2011 market highs. After looking at 150 possible M&A targets over the last three years, currently involved in an RTO, described as transformational by the CAML Board. No investment advice intended, offered or inferred. AIMHO/DYOR
mount teide
05/10/2017
09:56
IF, I understand reports correctly, the EU is intent on fining the giants hundreds of millions of pound for evading taxes on their world wide earnings by registering their business in Luxembourg. The EU will need that kind of money to fill the reported financial chasm that will be created by the UK, when it does a 'hard Brexit'.
azalea
05/10/2017
08:42
Pleased to see Taptica (TAP), where i reinvested my MPL position last year (sold at a near 40% loss), is now worth 135p in terms of the MPL share-price - with a chart, fundamentals, management and fast growing sector tailwind suggesting the investment probably has much further to run. Even Martin Sorrell of the advertising sector giant WPP, who pays himself 10% of TAP's current £300m market cap each year thinks the Digital Advertising sector is where the growth is going to come from, by acquiring some 20 small/medium digital advertising companies in the last 12 months to gain further access to this fast growing sector, which is forecast to continue growing at 20%+ per year through to 2022. Google made £17.40 billion from advertising in Q2/2017, while Facebook made £7.20 billion. In a recent interview Sorrell said WPP would spend about £4.7 billion on Google this year, and more than £1.56 billion on Facebook. AIMHO/DYOR Ps - TAP is a rare beast - an AIM company with NON EXECS that take their fees in COMPANY SHARES, rather than hard cash into offshore bank accounts!
mount teide
30/9/2017
16:38
roydyor An old friend - a highly distinguished Marine and Shipping Lawyer at Norton Rose in the City - after reviewing our file on the company prior to forwarding to AIM Regulation and the SFO replied: "It's not a port development company at all. It's 'business' is selling shares, sophistry and financial chicanery.....shareholders should expect to lose everything" "The only way to profit from this company is to marry into the Gandhi family." Lol! AIMHO/DYOR
mount teide
29/9/2017
13:20
Don't stop now, 10p by Christmas.
roydyor
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