Mercantile Ports & Logis... Share Discussion Threads

[escapetohome] 04/4/2018 08:28

I have long awaited the share your prediction is always right.

DOWN!

[saikat] 03/4/2018 21:03

mtilg, I agree with you; if one loots in a very obvious way, you should loot from everybody including the banks, because there is no punishment either way courtesy London.

Most likely bank managers have been bribed as has been the non-execs who were given money to buy shares, but we can't prove it. The entire game was bribing and stealing at a very basic level; there is hardly any sophistication. But it is obvious.

[dave4545] 03/4/2018 11:00

MRF

Reckon it will increase to 2 a week Aim stocks going under or delisting.

In 2019 there will be a lot less bullets to avoid on Aim.

[mtilg] 03/4/2018 09:35

Hi Mount Teide,

Thanks for your work.

I don't understand that they spend more money on the port if it is a fraud. They shall maximise the money they can take away in that case, right?

How much revenue and (negative) free cash flow can they produce at full capacity?

Management bought shares a few months ago. Doesn't make sense for a fraud, right?

Why do the banks still give credit (to build the port) if it is a fraud?

Thanks for your help!

[saikat] 02/4/2018 20:24

As it goes to zero. How long - two months, six months? Who knows?

Perfect example of corrupt India - everybody knows the scale of corruption on this.

[mount teide] 29/3/2018 15:19

MRF - II's have lost more than 95% of the funds invested in MPL - almost without exception II's tend to be the biggest losers on AIM - a stronger case could be made for them being stopped from investing there before PI's!

On AIM, with the Nomad, brokers, auditors and PR companies all paid handsomely by the Company out of shareholders funds - investing in a totally unacceptable and sizeable minority of companies in Aim is likely playing against a card-sharp using a rigged deck.

Arden on the bid at 2.2p - four years ago on commencement of the build out with the share price at 73p, in arguably one of the worse pieces of 'research' on AIM that year, Arden's Note was claiming the build out of the Port was in the share-price for free!

AIMHO/DYOR

[my retirement fund] 29/3/2018 11:56

Couple more ex AIM scams rwporting news today. First up Conveanly reports its shateholders will be left with nothing secondly Tahai reports its now been dissolved.I dont know if they even had the decency to tell shareholders there was sweet FA left when that fraud collapsed.If you can be bothered to look there is around one AIM fraud a week. IMO retail investors need to be stopped from investing in AIM.The butt shafting you lot here have recieved is quite unremarkable imo

[diku] 29/3/2018 09:34

Time for a name change to confuse the unwary...

[mount teide] 28/3/2018 23:01

A tale of two ports being built just 5 miles apart by the same contractor - ITD Cementation

Three photos of Karanja and JNPT under construction in June 2016, Dec 2016 and March 2018

Karanja according to management commenced Land reclamation in Jan 2014 - by March 2018 they had reclaimed just 90 acres of the 200 acres.

JNPT Container Terminal commenced land reclamation in Jan 2016 - by March 2018, they had reclaimed 225 acres, built and equipped a 1,000m quay - and had 95% of the port and its infrastructure, including a rail siding finished.



In October 2016 - MPL's £37m Placing Documentation said Land Reclamation and Berth Piling had progressed without interruption since October 2015 and they EXPECTED 70% (140 acres) would be complete by Jan 2017 and all 200 acres by end of Q2/2017.

A complete fraud since from June 2016 to Jan 2017 NO LAND RECLAMATION WHATSOEVER OCCURRED DURING THE 5 MONTH MONSOON SEASON. As evidenced by the identical land footprint photo showing the same perimeter rock boundary to prevent erosion during the monsoon season. Yet, the cash position between June 2016 and Dec 2016 remained virtually identical despite the Company raising £37m in October 2016!

The Karanja March 2018 photo shows just 90 Acres Reclaimed - a total of 15 additional acres since June 2016

[barbelsue] 28/3/2018 21:07

MT

I would rather back the larger institutions than you

[mount teide] 28/3/2018 14:17

The main taking point currently sweeping the City and Mumbai betting shops is whether there will there be any cargo operations commencing at Karanja BEFORE the MPL management shut down all land reclamation work for another year (what land reclamation work? - there's been none since H1/2017) and start their 6 month monsoon season fully expensed(£25k a month plus Directors Fees) annual holidays?

Rumour has it, the smart money is flooding in for no revenue in H1/2018 according to a highly reliable source that manages the £1,000 a day, white gloved butler serviced meeting rooms at the Mumbai Taj Mahal!

[dave4545] 28/3/2018 11:54

PJ1

6 months ago yes I might have been interested in a trade but not in this market. MPL
is not even on my monitor. I certainly cannot afford to have a monitor of "at risk of suspension" stocks to temp me to lose my money. I've just had a stock suspended on me and if it does not return that is £5k down the drain which is a lot to me.

All I'm saying is until the company confirms what is said here or is suspended I will still not 100% believe it's a scam.

[pj 1] 28/3/2018 11:48

Hmmmm. ''ScamIt and Nikitall'' does have a certain 'ring' to it!!

I think its fair to point out dave4545 is a 'bottom fisher' trader imo, and will be looking for any spike up to profit from-may be worth bearing in mind.

Believe it or not the BoD were once verbally claiming that Revenues would be pre-booked by SPL (MPL) before the Port was completed, such was the demand for the facility, with cash deposits banked by SPL to reserve capacity. Needless to say....

Another lesson I have learned, or at least been confirmed to me, is never believe the word of the NOMAD, who are also benefitting from this ScamIt

[my retirement fund] 28/3/2018 11:38

Yea his scam post made me spit my cornflakes over the table laughing.Perhaps if they changed their name to Scam ports and logistics or just plain Scam it would help the penny drop.

[mount teide] 28/3/2018 11:19

Dave - 'makes it look more like a scam'

Good lord - you make it sound like you still have some doubt!

I suggest you read the contents of the 31 October 2016 Shareholders Circular to raise another £37m from hapless II's - particularly the expected construction progress targets - which includes the completion of the entire port by Q3/2017 - then have a look at the latest Google Earth images and the management's laughable claimed 'carrying value' of the work completed to date!

The management since construction began has routinely missed by huge margins EVERY progress target they have ever issued - they have a perfect track record of failure.

Some six months after the date the market was told in the shareholders circular to raise £37m to expect a complete, operational port:

less than 50% of the land reclamation work is complete,
about 5% of the hardstanding is under final preparation
and just a little weather affected 360m open jetty is part complete.

With no revenue, and the cash now probably below £20m, they have amassed £90m+ of bank debt and interest payments(with £13m of annual capital and interest payments falling due over the next 4 years!).

Oh, and don't forget that Gandhi in a Company Statement in early 2014, told the market to expect revenues from the 100 acre logistics park before the end of 2014 - 4 years later the land reclamation for the logistics park is still yet to begin !

AIOHO/DYOR

[mount teide] 28/3/2018 10:46

22 December, 2017

Contract Win

'The Contract, which is with an Indian-based trading and stevedoring company, has a seven-year term, and is then extendable by an additional two years. Under the contract, MPL will provide berthing facilities and approximately seven acres of backup land suitable for storage of cargo, which is expected to include pulses, fertilizer and construction materials. The area of backup land will increase as the cargo volume is increased. The Contract envisages a minimum of one million tonnes of cargo in year 1, two million in Year 2 and three million in Year 3.

Under the Contract, the customer shall be responsible for all handling operations and the customer will make a substantial capital investment in the facility through the construction of warehouses for storage. THE FIRST CARGO UNDER THE CONTACT WILL LAND ONCE THE CUSTOMER'S WAREHOUSES HAVE BEEN CONSTRUCTED, WHICH IS EXPECTED TO BE IN THE SECIND HALF OF FEBRUARY 2018.'


Shareholders should read that last paragraph, then have a look at the latest circa mid MARCH 2018 Google Earth Images of Karanja.

The market will find NO EVIDENCE of warehouses being built or even in the earliest stage of construction - no land reclamation going on - just a small area (8 - 10 acres) of land under preparation for open cargo storage.


AIOHO/DYOR

[mount teide] 28/3/2018 10:35

The Karanja Operating Concession/Planning Consent restricts use of the reclaimed land to port related activity only.

As a consequence, a current commercial valuation would probably be considerably less than the current bank debt - and a small fraction of the 'carrying value' claimed by the Company.

The approach road needs to be upgraded for monsoon season use - it was a requirement of the operating lease.

The Company on questioning now claims the MMB has stated the current unlit, heavily potholed stone/gravel track, which routinely floods in the monsoon season making its safe use problematic - especially since there is an unprotected drop into a deep tidal creek and mangrove swamp awaiting the fate of any vehicles that slide off the dirt track; much of which was washed away during last year's monsoon, requiring weeks of remedial work before access for construction vehicles was again possible.

[pj 1] 28/3/2018 09:48

edit. Not forgetting the concrete bridge that was constructed that did at least allow access to the proposed site.

[pj 1] 28/3/2018 09:46

Does the 'reclaimed' land have any value? Especially as access to and from it doesn't appear to have been improved substantially, Or will it become a safer haven for the fishing boats?

[my retirement fund] 28/3/2018 09:44

One wonders how they would find a willing buyer

[mount teide] 28/3/2018 09:38

Could the buying party be the Taj Mahal white gloved butler closing out his short?


How to turn £10.6 million of UK Pension savers cash into £85k in 8 years - entrust it to Gandhi's Karanja Crew!

They should all resign and hang their heads in shame.

[diku] 28/3/2018 09:38

If someone dumped at 2p then that is where the price will be heading...

[phowdo] 28/3/2018 08:59

4.25 million shares dumped at 2p a couple of days ago. Someone wanted out at any cost.

[sweepie2] 27/3/2018 19:14

Thanks to all who post warnings about this stock it stops the unsuspecting not to dabble