Mercantile Ports & Logis... Share Discussion Threads

[diku] 25/2/2019 22:49

So no news of the fishy port for fisherman!...

[escapetohome] 25/2/2019 21:46

AND THE WHITE GLOVED TAJ MAHAL BUTLER SERVICE IS LAUGHING HIS SOCKS OFF. JUST LOOK AT THE TIPS HE IS GETTING , AND THE INFORMATION WHICH IS PROVING VERY VERY PROFITABLE.

THANKS THE LONDON STOCK EXCHANGE AND BRITISH INVESTORS YOU ARE VERY NICE PEOPLE!!!!!!

[mount teide] 25/2/2019 21:03

AS MENTIONED ON NUMEROUS OCCASIONS, ITS BEEN PUZZLING US WHY THE SHYSTERS HAVE NOT PUT A SINGLE PROGRESS PHOTO UP ON THE WEBSITE FOR OVER A YEAR - GOOGLE EARTH THIS WEEK PROVIDES THE ANSWER - WHICH SHOULD MAKE SHAREHOLDERS BLOOD BOIL.

Compare the latest Google Earth image dated 3rd November 2018 with that of 25th December 2017 and you will see the two images are almost IDENTICAL.

CONTRARY TO CLAIMS MADE BY THE MANAGEMENT THERE HAS BEEN:
* ZERO LAND RECLAMATION CARRIED OUT DURING THAT 11 MONTH PERIOD
* VIRTUALLY ZERO LAND DEVELOPMENT FOR CARGO STORAGE
* OF THE 100 METRES OF JETTY LEFT TO CONSTRUCT - BARELY HALF HAS BEEN COMPLETED

* ACCESS BETWEEN JETTY AND SMALL UNFINISHED AREA OF HARDSTANDING IS STILL A DIRT TRACK
* OVER 100 ACRES OF LAND HAS BEEN TAKEN BACK BY DENSE FOLIAGE
* THERE IS NO PERIMETER SECURITY FENCING
* NO SECURITY CONTROLLED ENTRANCE/EXIT GATE
* NO WAREHOUSING
* NO TERMINAL LIGHTING
* NO JETTY LIGHTING
* NO ALL WEATHER CARGO HANDLING AREA ON JETTY OR BULK BERTH
* NO JETTY CRANES
* NO TERMINAL CARGO HANDLING EQUIPMENT - LIFT TRUCKS
* NO TERMINAL CARGO TRANSPORT TRAILERS
* NO CONCRETE OR ENGINEERING BLOCK PORT ACCESS ROAD
* NO LIGHTING ON THE ACCESS APPROACH ROAD
* NO ONSITE CUSTOMS INSPECTION FACILITY
* NO TERMINAL SECURITY CAMERA SYSTEM
* Etc, Etc

TO SUGGEST THE PORT IS CLOSE TO BEING OPERATIONAL AND READY TO RECIVE CARGO IS TOTALLY DISINGENUOUS BECAUSE IT IS COMPLETE NONSENSE.

On the basis of the Google Earth images we would estimate about £2-3m of construction work has been carried out during the last circa 12 months - compare this with the cash burn and it suggests tens of £millions more may have disappeared SEEMINGLY WITHOUT TRACE.

FOR THE MANAGEMENT TO SUGGEST THAT THE GOOGLE IMAGE DATED 3 NOVEMBER 2018 IS OF A PORT TERMINAL WITH A CARRYING VALUE WELL IN EXCESS OF £130 MILLION IS FRAUD ON STEROIDS.

WE ESTIMATE IT HAS A CURRENT FIRE-SALE VALUE OF £15-20 MILLION - AND THAT'S BEING GENEROUS.



AIOHO/DYOR

[mount teide] 13/2/2019 10:04

Executive Chairman - a white collar criminal with a conviction for a major insider trading scam - currently fighting a writ alleging the siphoning of tens of £millions of shareholders funds from a company he had executive responsibility for into companies controlled by him and his family.

CEO(now Ex) - recently detained and charged by US Law Enforcement Authorities for a major Securities Fraud


Don't say you were not warned!


The market is still waiting for a plausible explanation as to how £44m of shareholders funds and Bank Debt could seemingly disappear without trace BEFORE a single lorry of infill material was deposited on the port development site - particularly since the winning tender to construct the entire 200 acre site and port development infrastructure was won with a £57m tender.

[escapetohome] 13/2/2019 09:29

Thanks Mount Teide for putting it in.

You are 100 percent correct here.

I wonder if anyone did get in touch with the fund manager that invested to warn them?

There was talk of it . I wonder what the fund managers response was?

[mount teide] 13/2/2019 09:23

And the huge Globo fraud carried out by its scam artist CEO a former wind surfer turned Corporate cook who claimed in financial statements that the company had over £100 million of cash on deposit when it turned out to be nothing more than loose change!

ETH - apologies - an oversight which has since been corrected!

[escapetohome] 13/2/2019 09:22

Ha ha , mount teide please please dont forget the white gloved on your call personalised butler “ at your service “ from these descriptions.

Reference
“ £1,000 a day breakfast suite Taj Mahal bunker,”

I cant live without it!

[phowdo] 13/2/2019 09:16

Remember that these lot share an auditor with CAKE that essentially stated - "its not our job to find even obvious fraud, our job is to bank as much coin for ticking boxes."

[someuwin] 28/1/2019 10:32

Yes, Gervais Williams from Miton buying MPL is very interesting...

[deepvalueinvestor] 28/1/2019 10:16

Whatever is going on, the chart is starting to tell a new story.

[cockerhoop] 27/1/2019 22:11

Cheshire Man,

I think it's actually Gervais Williams at Miton that has invested in MPL if we're looking at the same article.

It caught me out initially when viewing the page on twitter but I think Judith's section starts after MPL is mentioned but her photo is included in Miton's section - she's certainly better looking than Gervais :-)

[mount teide] 27/1/2019 21:56

In late 2016 post the £37m cash raise the COO now CEO, told shareholders to expect 2 million tonnes of cargo throughput in 2018 - how we laughed at that! We posted at the time that in our view there was zero chance of this happening and that shareholders should not be surprised if cargo operations were yet to commence by the end of 2018.

We are now one month into 2019 and the grand total of ZERO tonnes of cargo were handled in 2018, some 9 years post IPO and after 'spending' more than £140m of shareholders funds.

It simply beggars belief that a woefully inexperienced young manager responsible for carrying out the 'oversight' of a straightforward small port project, which has delivered a 99% destruction of shareholder value since IPO, should get rewarded for his efforts firstly by promotion to COO and then CEO!

Looking on the bright side, this now means we should at least be spared any further condescending posts from his alias 'Oliwin', anytime soon!

[escapetohome] 27/1/2019 19:30

Perhaps she knows something we dont?

Thankyou for giving her a call.

Because mount teide is spot on here.

[pj 1] 27/1/2019 19:16

She's also in FLX who assured Investors at x3 presentations at the end of 2018 that no Placing was required.

One guess what followed.

[mount teide] 27/1/2019 17:05

Thanks Cheshire Man - a friend is going to give her a call next week.

Anyone else wanting to have a chat with Judith can call her on 0207 416 7780

[cheshire man] 27/1/2019 11:16

Judith MacKenize of #DSM in this weeks Shares magazine

"The trust has been building a position in MPL, investing tens of millions into a new port facility in Mumbai"

Each to their own I suppose

Not a subscriber so DYOR

[mount teide] 11/1/2019 16:02

diku - a wild shot?

The cash burn has never made any sense - £44m prior to the commencement of any land reclamation was a racket worthy of Sepp Blatter's old FIFA or the Mafia - and the best part of £90m more since tells its own story better that we ever could!

Current m/c is around our valuation of the work completed to date and the cash raised recently from clueless II's - some of whom were prepared to throw yet more of their investors cash at a company where some have investments 99.2% down from IPO.

Einstein described 'madness' as continuing to do the same thing and expecting a different result! Sums up perfectly the behaviour of many of the II's here!

[diku] 11/1/2019 09:02

MT...just a wild shot but is it possible all along the IPO money and other RI money was actually a cash cow for other private/personal projects...

[mount teide] 09/1/2019 18:19

A colleague spoke today to Asif Dadarkar, Chairman & Managing Director of the principal Dredging Contractor used by MPL to carry out the berth and channel dredging.

Interestingly, the value of his firms entire contract with MPL was worth just £2.4m

ITD won the tender to carry out 200 acres of land reclamation and hardstanding development, and berth construction for £57m.

Some 5 years later just 95 acres of land has been reclaimed and a small, low cost, lightweight 400m jetty is still yet to be completed - for a cost to date claimed by the company of over £130m.

AIOHO/DYOR

ps if you would like to speak to Asif Dadarkar - please PM me for his mobile number.

[diku] 08/1/2019 09:46

Fishy port for fisherman ready?...

[tomboyb] 08/1/2019 09:29

15k max at 3.4p -

That is real tight compared to total shares issued -