Mercantile Ports & Logis... Share Discussion Threads

[pj 1] 28/9/2018 14:23

Well done phowdo. Its just a log of failure after failure isn't it?

[phowdo] 28/9/2018 14:16

Here it is PJ



Nikhil Gandhi, Chairman of SPL said "...I am staking my reputation of 25 years on ensuring that we have an operational port, that is fully funded, by the end of 2015"

;)

[pj 1] 28/9/2018 14:05

I've missed a lot out over time, I cannot find where he put his ''reputation'' on the line lol

At least he lived up to his reputation that's for sure!!!

[waterloo01] 28/9/2018 14:03

Wow. When it's all in one place. Remarkable.

[pj 1] 28/9/2018 13:58

Who would trust this man? Our esteemed Chaiman Mr Nikitall Gandhi.

30/9/2011 We remain committed and dedicated to building our first facility on time and also growing SPL to become a significant player in the ports and logistics sector in India

17/5/12 The Company continues to analyse a number of strategic avenues to enhance shareholder value but the focus amongst the Directors and SPL management remains to deliver a world-class port and logistics facility in the Navi Mumbai region on time and within budget.

27/9/12 I can assure you that the entire team at SPL and I remain committed to delivering a world-class port and logistics facility for our shareholders, our customers and for India

21/12/12 The exciting phase of developing and building our project is now finally upon us and we look forward to delivering a world class port and logistics facility

28/6/13 My team and I remain committed to SPL. We remain focused on building our facility and to creating shareholder value.

27/9/13 With the monsoon season drawing to a close, the project's EPC contractor advises that activity on the site will accelerate as planned. The Board believes that it remains on track to achieve its goal of completing a world class facility near Mumbai where the demand and macro-economic factors remain compelling.

29/5/14 remain totally committed to seeing our Company deliver a revenue generating port and logistics facility by the end of 2015.

15/9/14 Based on the progress to date, as outlined above, I remain confident that SPL will deliver a fully developed and operational facility by the end of 2015

22/4/15 gives me confidence that the management will deliver a part operating facility by the end of 2015

29/7/15 The recent delays are now behind us. I do not foresee any further delays to the timetable

24/9/15 t we will be doing everything we can to make up as much time as possible in the coming months with an intention of starting operations during the first half of 2016

16/6/16 We have made good progress in developing a modern port facility in Mumbai, and we have also initiateddiscussions with operators and end users. Modern ports and logistics facilities are essential engines needed for a country's growth. I have no doubt that we will meet future challenges and be an integral part of the growth of this remarkable region through the development of the Karanja facility

28/7/16 The Company set out key milestones in March 2016 that it needs to achieve to ensure the facility in Navi Mumbai is part operational this year and the Company continues to work towards achieving this objective by the end of the year.

22/9/16 The Company set out key milestones in March 2016 that it needs to achieve to ensure the facility in Navi Mumbai is part operational this year and the Company continues to work towards achieving this objective by the end of the year.

13/6/17 The Company has experienced the sort of minor interruptions to activity that often impact projects such as this in India. The cumulative effect of these minor and unforeseen interruptions is that management no longer expect the facility to be completed by the end of the year.

15/9/17 MPL is focused on developing its port facility in Mumbai so that it is in position to generate revenue from the end of 2017.

3/11/17 MPL is focused on reaching the operational phase of its port facility in Mumbai so thatwe areinaposition to capitalise upon thedemand to use theportthat we know is there. Webelieve that the completed facility will be well aligned with the Government of India's initiative to promote coastal and in-land waterways movement of cargo.Itechoesthe recent statement from the Prime Minister, Narendra Modi, who said that his government has been given a new mantra "P for P",referring toPorts for Prosperity.

24/4/18
Nikhil Gandhi said "We are now very close to receiving our first paying vessel.

29/6/18 The slight extension to the timetable as a result of the prolonged customs approval process has been frustrating.

28/9/18 We continue to be in advanced discussions with the banking consortium and anticipate drawdown under our banking facilities in the coming days. However, whilst the banking issues in India remain and as the Company approaches commercial operations, the Directors do not consider reliance upon financial support from the Chairman to be a long-term option and, as such, the Company will consider alternatives to refinance its existing banking facilities.
Although we had hoped to be operational before these results were announced, once the customs personnel are on site, we will be ready to operate.

[pj 1] 28/9/2018 12:40

So they had £1m cash at HY, Trade receivables and payables roughly equal out (although are they genuine) but any Co in desperation can squeeze more working capital out, until suppliers refuse so an unknown there.


So other than debt they are basically running on fumes. Even Cenkos must now realise their gravy train is coming toward the end, and that they run the risk of having a bad debt.


Any predictions as to when they realise they (Cenkos) cannot extract any more in fees and then resign? MPL then kicked off AIM where any fraud can be further covered up away from even less prying eyes aka CTAG style.

[waterloo01] 28/9/2018 12:21

I don't hold and unfortunately never shorted and I hope you get some money out of this, but like a number of other mainly Chinese companies on AIM, this is IMO, no better than a fraud, as the latest RNS highlights. I take no pleasure in others losing money, but would take a great deal if these shysters ever face justice.

[mount teide] 28/9/2018 12:16

op - if you believe this looks like 'good news' then a trip to spec savers is urgently in order !

The ex employee who messaged/emailed me said he had been let go recently and was still trying to recover more than 6 months wages he was owed. He said many employees were in the same boat of not being paid for some time and hanging on in the hope they would eventually get paid.

I'll bet two things

1 - the Board continue to draw their fees in full each month
2 - £25k a month white gloved butler serviced management 'expenses' will shortly enter their tenth year!

[pj 1] 28/9/2018 12:14

old punter - 30 Aug 2017 - 16:46:52 - 807 of 1260
Mercantile Ports and Logistics - MPL
it is very interesting that virtually all the contributors to these articles are either old bears or failed holders.
I have alsolost a lot on this share but from past experience have learned that bad ones can turned right,
in fact I had one stock recently which went down by 98% then I bought 100 times my holding back,
the stock then recovered 11times so I finished up making a very large profit,
the trouble with people who love the sound of their own views are too arrogant to admit that they are not always right forever.Mt Tiede is obviously one of those.
Give up you libel and admit that things do change
===============================================================================
Lets deal with the fact old punter. I note you have never posted on any other thread?

Share price when you first posted 30/8/2017 7.8p


Share price as I type 2.5p


I assume you are down a minimum of 71% on your investment in a modern state of the art Port that has yet to have any berths other than local fishing vessels, and is fast running out of other peoples money?

[old punter] 28/9/2018 12:06

i love watching all of you trying like mad and praying that the company
goes broke.
are you all short or hoping that other holders are like you losing
a lot of money ?
you are all like a tricoteuse enjoying others misery it is sad !
there are others who still have shares would it be so terrible if a little money was recovered.
you are a sad bunch
no one is ever happy if it looks like any good news














i

[mount teide] 28/9/2018 11:59

Spot on Waterloo.

Predicted the results would be terrible - they are in fact diabolical!

So after using AIM's greatest ever work of fiction to raise another £37 million from clueless institutional investors to "fast track" the completion of the land reclamation by Q2/2017 and be fully operational by Q3/2017 - some two years later by Q4/2018 they have made only 15 acres progress to 90 acres, and are still 110 acres short of the 200 acre project the construction of which was won with tender of £57m

With a fraud on steroids 'carrying cost" of circa $130 million and just $1.08m of cash left - presumably after the banks took one look at the carrying cost and compared it to the value of construction work on the ground they have come to the conclusion that our circa £25-30 million valuation is spot on so therefore have said "NO WAY HOSE" to the release of any further funds above that level from the loan facility - to ensure they are able to get most of their funds back in the near certain event the shysters are unable to make any of the gargantuan loan interest/capital payments totalling circa £95 million now falling due - smart work, we would have done the same in their position.

[pj 1] 28/9/2018 09:07

The irony and p*ss take of this statement

''on terms consistent with the undrawn existing bank facility, to ensure that there is no interruption to work on site should the general banking position cause an issue for the Company.''

''no interruption to work on site''. He didn't even put ''further repeated interruptions'', I wonder why not.

[waterloo01] 28/9/2018 08:54

Suspect bank has now stopped them taking out the rest of the £20m and they are looking at finance options. Port not much further along. Suspect this is the final RNS before they announce NG has somehow managed to 'save' the port and leave shareholders with zilch.

[pj 1] 28/9/2018 08:20

Congratulations then.

[azalea] 28/9/2018 08:12

PJ1

I can advise with notable authority, that azalea will not be buying any shares in MPL and is perfectly content to hold onto the cash arising from the sale of his holdings at above 70p. Moreover he is pleased to report that his modest stake in STCM is showing great promise. His caveat as always is one of DYOR.

[pj 1] 28/9/2018 07:48

Relax Nikitall is guaranteeing the Bank Loans. I'm sure they will RNS when the guarantee is removed.

[phowdo] 28/9/2018 07:44

"As of 30 June 2018, MPL had £1.08 million cash in hand"
"the Company will consider alternatives to refinance its existing banking facilities"

Quelle Surprise!

Looks like all the cash is gone and port still not operational.
Last ditch placing or debt for equity swap probably the last resort now.
Shareholders about to be wiped out (again).

[tiltonboy] 26/9/2018 11:47

Azalea is working his magic on OPG, so is otherwise engaged

[pj 1] 26/9/2018 10:52

What will be the last ''Pump'' before the last attempted Placing?

Ship repair facility?

Removal of the no flight zone?

Fictituos contract with an unnamed Major

''credible'' approach from a cornerstone investor or take over

Vin Muria is ''interested''

Nasdaq listing

Reverse take over from a Mafia related family?

New polo courts?

500 lorries suddenly appear on site (again)


Irrevocable Presedential decree guaranteeing development of the site?


Nikitall Gandhi resigns to be replaced by another Gandhi but remains an 'advisor' to the Company?

azalea buys more shares

[phowdo] 26/9/2018 10:37

>WHERE THE £44m WAS 'SPENT'

I believe they had to stock the fridge with coke.

[mount teide] 26/9/2018 10:27

AND THIS IS BEFORE WE GET ONTO WHERE THE £44m WAS 'SPENT' 6 TO 12 MONTHS BEFORE THEY EVEN GOT ON SITE TO 'COMMENCE CONSTRUCTION'.