Mercantile Ports & Logis... Share Discussion Threads

[danmart2] 21/12/2022 09:06

Tina Doyle would be a better CEO for MPL, ask her to contact the board


Back on topic, how long before the latest funds run dry?
Summer 2023?

[igoe104] 20/12/2022 19:12

This share is like a pigeon that can't fly, its just a matter of time before it comes to a sticky end.

I'm surprised schroders are still believers. Or is it the case they are hoping for a miracle...

[waterloo01] 20/12/2022 17:55

They will delist IMO as can't see they could raise again in the UK, so they will churn it out to a different set of punters

[danmart2] 20/12/2022 17:36

A complete and utter scam

[pj 1] 20/12/2022 17:00

He still does not believe the pilot took photographs of the right area 8 years ago and was last seen with azalea scouring the oceans in search of the port..

Believe it or not he was a wealth manager.

[igoe104] 20/12/2022 16:40

I'd love to see someone take cenkos to court for putting out false figures, and getting folks ripped off..

What happened to that guy who went over to India to see the management and see the port ?

[marvelman] 20/12/2022 16:27

Mount Teide saw this coming way back and gave plenty of warning to the then holders to get out. Those that could not believe the words of a well researched professional and the numbers and facts to back it up deserved what came to them. A few chancers came along after the last placing thinking it was undervalued and believing the latest round of lies from the company at the time have now also been fleeced. The worst example of company malpractice I have ever seen in my years on the markets

[igoe104] 20/12/2022 15:50

I wonder how more idoits will be involved in the next fund raise...

[igoe104] 20/12/2022 15:49

Cenkos a country mile out...


Cenkos forecasts:

PBT
2011 - 1.4m loss
2012 - 2.9m loss
2013 - 1.7m loss
2014 - 11m
2015 - 22.9m
2016 - 35.7m
2017 - 44.5m
2018 - 49.5m

*In 2018 SPL would have £150m cash on the balance sheet.

[danmart2] 07/10/2022 17:44

Shame on the pension funds who are invested here

This is the biggest scam on LSE

[mount teide] 07/10/2022 13:59

All sadly predictable and exactly as you were repeatedly warned!

Interim Results:

Group revenue of £1.91 million (June 2021: £0.85 million) .

Loss for 30 June 2022 £6.52 million (June 2021: £3.40 million)

So, losses surge by another £3.24m to £6.52m to increase their revenue by £1.06m

Genius, sheer genius!

Cash: £2.01m !

'Management remains comfortable with market expectations' ....Lol!

Only cargo handled has been extremely low paying coal, cement, steel, olivine flux and project cargo.

Jay Mehta, CEO of MPL stated, "These financial results show an all-round performance aligned to a clearer business strategy".......yes, as we told you so, of losing ever more money the more you ramp up the volume of ultra low earning dirty cargo, that few else want to handle!

'The Group is expecting further strong operational and financial performance in H2 2022, which is extremely pleasing and does, I believe, show that our strategy is working.'

Really? By my reckoning, looks like you're going to soon run out of cash again, UNLESS you dramatically lower the volume of cargo handled!

Clueless, totally clueless!

The crooks may have departed but they've left behind a bunch of fools to mind the banks 'assets '.


AIMHO/DYOR

[mount teide] 27/8/2022 09:14

Latest on Mahatma's old MPL bag carrier, the former CEO(and still highly paid consultant AFAWAA), who was forced to step down a couple of years ago after being arrested and charged on arrival at JFK airport by the FBI for carrying out a $300m securities fraud in the USA, while supposedly busting a gut running MPL!

He recently managed to secure his temporary freedom via a $1m bail. Two of his three alleged accomplices are currently fugitives on the run according to US Law Enforcement!

AIOHO/DYOR

[mount teide] 27/8/2022 08:39

2021 Annual Report - so the shyster Mahatma after being forced to step down as Chairman continues to shakedown shareholders, trousering another £192k of their funds last year as an Executive Director - more than the clueless CEO and FD put together! For doing what?

Incredibly, the Non Exec's based 4,000 miles away continue to trouser nearly double what Non Exec's at Dover Harbour Board, Europe's largest Short Sea Port, get paid! For doing what?

Down 99.8% post IPO, the Institutional Investors should be ashamed of themselves for not only letting this £200m racket go on for more than a decade but, for cluelessly continuing to support it with their shareholders funds.


Interesting to note, the Port photograph used on the front page of the 2021 Annual Report is, like most everything else about MPL - highly misleading.

Once again, despite claiming the 'port' is now 'operational', the MPL management has elected to use a photo of a large container terminal at ANOTHER PORT, rather than a photograph of Karana Port - a tiny, part completed, break bulk terminal capable of handling only very small barges.

Where, after 8 years of 'construction', only 45% of the port land has been reclaimed for development, despite raising over £130m of additional funds in placings and debt post the £72m 2010 IPO, on the basis the extra cash was necessary, "to ensure the full 200 acre port project, could be completed, in line with the IPO document" - and that statement came from the NOMAD's representative's mouth in front of other shareholders listening in on the telephone call. The reality is that NONE of that cash was subsequently used for that purpose - just as we predicted at the time!

To help Institutional shareholders come back into the real world where the clueless idiots have lost 99.8% of their shareholders funds over the last 12 years, we would urge them to pay circa £15k for a Marine Civil Engineering Consultant to carry out a Cost Analysis on the port project construction work completed to date and for a professional opinion on the current market value of the asset.

We would bet serious money that it would finally bring the curtain down in no uncertain terms on one of AIM's longest running farce's(frauds), more commonly known as MPL's 12 year public rogering of its II's - particularly, if you insisted on the management providing every invoice over £10k paid since 2010, for the Consultant to give a professional opinion on(we would pay good money to see that report!) Especially, the $44m that was 'spent' in 2014, when the company could only demonstrate around circa £2m of asset development expenditure at the approach to the site for a small access bridge over a tidal creek!


AIOHO/DYOR

[my retirement fund] 26/7/2022 16:25

Its due something, like one of the parties going to jail etc

[diku] 26/7/2022 16:21

Must be due for another name change to disguise the company...then another placing...

[danmart2] 15/6/2022 17:44

My money is on the latter

[mount teide] 15/6/2022 12:18

After raising over £200m in equity and debt, to have market cap of just £7m takes a special talent for incompetence that borders on the legendary OR, what you are dealing with is an industrial scale fraud!

You be the judge?

AIOHO/DYOR

[danmart2] 28/4/2022 07:40

Not a lot of activity at the port, not a lot of point commenting about this company

[mount teide] 14/4/2022 18:22

A fool and his money are soon parted !

The buyer of a non-fungible token (NFT) of Twitter co-founder Jack Dorsey's first tweet says he "may never sell it".

Malaysia-based Sina Estavi has compared the digital asset to Leonardo da Vinci's Mona Lisa.

The tweet, which says "just setting up my twttr," was first posted in March 2006 and was auctioned off last year by Dorsey for charity.

Estavi bought the tweet in the form of a NFT in March 2021. NFTs have been touted as the digital answer to collectibles. However, they have no tangible form of their own, and experts have warned about risks in the market.

Last week, Estavi announced that the tweet was up for sale on NFT marketplace OpenSea.

He pledged to donate half the proceeds - which he estimated to be $25m or more - to US charity GiveDirectly.

Estavi's best offer was just over $6,200 (£4,720), about 0.2% of the $2.9m he paid for it.

Ouch!

A bit like owning MPL shares since the London 2010 IPO!

[danmart2] 30/3/2022 11:18

When will they be back with the begging bowl trying to raise more funds for this shocking company?