Mercantile Ports & Logis... Share Discussion Threads

[pj 1] 15/2/2023 22:06

diku

Joking aside deepvalueinvestor didn't actually ramp it as such, he got suckered in by NickItAll Ghandi which reflected on his private clients

To be fair to him he did post photos of his visit to the creek where he raised certain questions as to how their was no physical development in line with what the RNS'S from the Co said.

I know MT wil support me in that the true facts didn't really materialise until a PI funded pilot flew over the area where the port was supposed to be.

Hi words were.....''what Port?''!

Investors such as azalea were as guilty as the BoD

[diku] 15/2/2023 20:35

I still remember a poster called deepvalueinvestor ramping this many moons ago...

[diku] 15/2/2023 20:30

Lots of gobble-dy-ghook in that RNS statement...just happens a barge was passing by during their visit...

[mount teide] 15/2/2023 20:28

diku - MOU's have 'Confidential Clauses', whereby both parties agree not to disclose any Confidential Information to third parties.

In addition they are not a legally binding document.

[diku] 15/2/2023 20:24

Can shareholders request to see details of MoU?...


In addition, the Company has signed a Memorandum of Understanding (the "MoU") with the operator of a terminal at major international gateway port and with a logistics company. The MOU between the three parties relates to a collaboration on the movement of shipping containers and vehicles by coastal waterways between the two facilities, with MPL's facility at Karanja having favourable connectivity to the regional road network and therefore more efficient evacuation characteristics.

[mount teide] 15/2/2023 09:40

AR - thanks for your comments.

[mount teide] 15/2/2023 09:40

To describe unloading a few break bulk containers using a small mobile crane and then discharging them by hand/stacker truck on a terminal compound also covered in coal dust as a positive development, is being disingenuous in the extreme.

Take out the cost of hiring a mobile crane and the labour and equipment costs to discharge the contents of the containers and like everything else they handle it will probably be loss making.

No shipper of high quality goods in break bulk containers would ship them through a bulk cargo handling terminal covered in coal dust. The content of the containers will almost certainly be low value break bulk cargo that is expensive/labour intensive to handle, and attracts very low handling rates.

Why has the company failed to put a single photo of the terminal on its website for 6 years but, never hesitates to put photos of other port operators terminals in its Annual Report. What are they afraid of? That the market might question how they could have a £160m carrying value in the accounts for an unfinished, low quality jetty and open storage facility in a tidal creek with only 3 meters of water depth in the access channel, that probably cost less than £25m to build and is now worth around £15m?

AIOHO/DYOR

[danmart2] 15/2/2023 07:33

RNS out

Complete tosh

[diku] 08/2/2023 21:25

The site can be used for Bollywood movies...

[mount teide] 08/2/2023 20:45

Perhaps the shyster previously masquerading as the MPL CEO, who is due to go on trial next month in the US for carrying out a $300m securities fraud could shed some light on it, seeing as he's likely to be going down for a 20 year stretch if found guilty.

[mount teide] 08/2/2023 12:36

£2.54m Market Cap!

Cenkos, who helped the shysters raise circa £160m is currently sitting at 3.6p on the BID - seemingly, only willing to now buy shares at a 99.86% discount to the IPO price!

With the only asset having a value of $15-20m at best.....but having a laughable book value of circa $160m according to the shysters...... what the market wants to know is where the rest of the shareholders cash actually went?

Like the £44m 'spent' nearly a year before a small bridge was even built to allow access to the site so land reclamation operations could commence!

AIOHO/DYOR

[mount teide] 02/2/2023 08:57

JD - bulk commodities are extremely low paying cargo in terms of handling and storage fees. This type of cargo is mostly handled by terminals with specialist equipment equipped with automated cargo conveyors. MPL is handling it from barges using cranes and grabs - an expensive and archaic handling system by modern day standards.

Most bulk cargoes handled through the Port of Mumbai attract handling rates of less than £1/tonne. So, 1.2m tonnes of bulk commodities will have generated a pittance, that's why the Interim Results were so atrocious:

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

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 the scene of the crime but they've left behind a bunch of fools to mind the banks 'assets '.

[danmart2] 02/2/2023 05:26

Thank you Tyler

In terms of MPL , this is a scam and is a danger to your financial health

[joinednow] 02/2/2023 01:12

this is from their recent trading update.( not a holder here)

Mercantile Ports & Logistics Limited (AIM: MPL) which is operating and continuing to develop a port and logistics facility in Navi Mumbai, Maharashtra, India is pleased to announce that, following a strong final quarter of trading, the Company expects to meet revenue forecasts for FY 2022. This year, MPL's facility at Karanja has handled approximately 1.2m tonnes of various bulk commodities and the Company sees strong momentum going into the next financial year. The Company has all the requisite infrastructure and permissions in place to handle container movement and it expects to commence handling of containers in 2023, which will be an additional revenue stream for the Company.
Jay Mehta, CEO of MPL said "This is the first full year of uninterrupted cargo handling operations at our facility. Every month we continue to service new clients, both on a spot and contracted basis. Next year our pipeline looks healthy, which should enable us to build on our successes of 2022. Going into 2023, we are excited to be expecting to start handle new commodities including liquid bulk cargo such as base oils and bitumen".

[mount teide] 01/2/2023 22:53

Latest Google Earth images of the terminal are very revealing.

The main jetty 9 years after construction commenced is still not complete.

Only 90 acres of the 200 acre development has been recovered from the sea/foreshore from port development.

Only 40 acres of the 90 acres has been developed into hardstanding for storage/port operations, and most is used by Daewoo.

The 35 acres Daewoo rent for a pittance is around 40% of the entire land area, and they have brought in a floating pontoon to service this area, to minimise what they have to pay the terminal operator to use the main jetty.

The only cargo MPL is handling for their own account is low volume coal, which has covered the jetty, access bridge and much of the eastern end of the terminal in a thick layer of coal dust.

The cargo turnover and revenue generation is minimal and the actual value of the asset probably now £15m at best, as its in a terrible state of repair and so stands little chance of attracting better paying cargo.

The clueless II's who gave the shysters £150m for 'equity' should be arrested for impersonating fund management professionals.

AIOHO/DYOR

[valuehurts] 29/1/2023 09:44

This is a well known scam and has been for many years.

[danmart2] 29/1/2023 09:41

Surely the bank takes the asset?

Not that there is much of an asset

[diku] 23/1/2023 16:33

Time to do another share consolidation or name change...wash rinse and spin cycle again...

[mount teide] 23/1/2023 16:28

Market Cap: £3.2m

Carrying Value of the asset in the books: circa £160m

Our estimated cost of building the asset to date: £25-30m

Current Market Value of the assets: circa £25-30m

Lol!

You could go on tour with that quality of material!

Bank Loan extended to MPL: £30m (Banks have a lien over the assets)

Game, Set and Match!

[danmart2] 22/12/2022 18:09

Spot basis for handling cargo is awful for a so called reputable port, that admission alone is a huge red flag to potential investors.

[mount teide] 21/12/2022 13:07

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

Considering the number of writs and criminal charges for securities fraud the two main orchestrators of the MPL misrepresentation are currently fighting in connection with a number of other major financial scams they're alleged to have been involved in, any action brought against them or Cenkos with respect their scandalous 'management' of MPL would I suspect largely be a waste of time.

Most of the circa $180m of equity and debt raised is gone and will certainly not be recovered from the market valuation of the assets - which we believe is currently around £25-30m.... and clearly why the investment banks which have a lien over the assets, stopped letting the MPL management draw down any more of the circa $50m bank loan facility, once it had reached around $30m!

I strongly suspect the investment banks involved have paid for a very basic independent valuation of the asset......and from it concluded, what I have been writing about over the last 5 years.

Of course, with a lien over the assets, they will have been both delighted and astonished, that the MPL management has been able to continue raising further cash in the form of equity, as they know at least some of it will now be used to further enhance the value of their asset!

AIOHO/DYOR