Mercantile Ports & Logis... Share Discussion Threads

[pj 1] 18/1/2017 08:50

Maybe it was presentation video for the recent placing? (I.I.'s?)

I wonder if Lord Flight had seen it?

[waterloo01] 18/1/2017 08:48

One can assume the company read this BB (hence footage withdrawn). So come on tell us some more porkies.

[phowdo] 18/1/2017 08:42

ICYMI, heres what they said in the placement prospectus:

By the end of January 2017 the Company expects to have:

· completed the dredging requirement;
· reclaimed 70 per cent. of the land; and
· constructed two berths, one of which will be capable of receiving vessels.

[pj 1] 18/1/2017 08:37

IMO and DYOR. My main concern would be that it was some sort of previous attempt at a staged video. As i've said before it was obvious the trail of lorries had been held back, then concrete mixer trucks at the side of the piling gantry which had not moved, (making it look as if piling was in progress?) and at one point a team of approx 15 workers in shiny hard hats and spotless clean high vis were seen walking in timed unison and some even waved at the drone.

Disgruntled employee, Co error, who knows but it has to be taken as a red flag imo.

[waterloo01] 18/1/2017 08:22

Given how quickly they pulled the drone footage, one can assume it was fairly recent. Shambles continues.

[diku] 17/1/2017 21:10

Don't think it will be ready before end of 2018....

[pj 1] 17/1/2017 17:26

So if we agree the piling gantry was roughly in the same position, why were there Concrete mixer trucks alongside the Gantry?

[waterloo01] 17/1/2017 17:19

Not June as rest of site looked larger, so more reclaimed but agree not massive movement on the pilling, so maybe September? One rather fears it's more recent!

[saikat] 17/1/2017 17:15

It won't happen Waterloo - Gandhi's purchase moving the needle. It is all out of shareholders' funds. Probably upto half the money has been looted - at least £25m-40m - some of it must have gone as bribes to UK entities. Everybody, by now, must guess this.

[pj 1] 17/1/2017 17:10

The piling gantry didn't look as if it had even moved so it must have been filmed (I hope) from around June 2016 imo

Whats worrying is that it appeared to show a large stream of lorries entering site, when all they had done was stack them along the access road. I hope that wasn't to attempt to give a wrong impression. When the drone backed off there were hardly any lorries actually on the reclaimed area.

[waterloo01] 17/1/2017 16:57

PJ, even if it's a few weeks old, it still shows just how much is still to be done. No doubt they will post it up with some context. Gandhi taking up his £3m at 10p doesn't seem to have moved the needle. Guess he could have walked away, so there's value somewhere.

[pj 1] 17/1/2017 16:00

So, to be fair, we don't know when it was filmed. It had today's date underneath it, but that could have been the 'posting' date

[waterloo01] 17/1/2017 15:17

See they have taken the clip down! Wonder when it was filmed?

[pj 1] 17/1/2017 12:18

Its almost as if work stopped until Gandhi put his money where his mouth is?

[jojaken] 17/1/2017 12:13

In June they said they had laid "58 piles" for the quay.

On Oct 31 they said they had laid "100m of piling" for the quay.

Today's footage while difficult to be sure of the exact number, I would say they have still laid only 58 piles or 100m of piling!

So much for progress.

Explains a lot as why they haven't issued a progress report up to now.

I can only hope that now, with this video, they will be updating us. So presumably there'll be news to report as to what they have agreed with the contractors.

[diku] 17/1/2017 12:07

Maybe ready to do a Bollywood movie!...

[pj 1] 17/1/2017 12:04

It looks 'staged' with the way all the Lorries are queuing up on the approach road 'ready to roll'

[jojaken] 17/1/2017 11:58

No progress with the piling since the last video in June!

[phowdo] 17/1/2017 11:57

Looks like last summers drone footage?

[waterloo01] 17/1/2017 11:48

Company I think. No doubt they will post it up at some point.

[guernseymoney] 17/1/2017 11:47

Waterloo - was that drone footage done by PI's or just someone in the region?

[waterloo01] 17/1/2017 11:23

Activity but long way behind.

[waterloo01] 17/1/2017 08:39

Nice of them to update us. What about the f'ing port?

[diku] 11/1/2017 10:16

They know where the mug punters are!!...

[mount teide] 11/1/2017 10:14

A happy new year to you all!


SKIL Ports & Logistics Limited Placing, Open Offer and Subscriptions - Nov 2016

'By the end of January 2017 the Company expects to have:

-- completed the dredging requirement;
-- reclaimed 70 per cent. of the land; and
-- constructed two berths, one of which will be capable of receiving vessels. '

With the £36m fund raising(less expenses) now safety tucked away in MPL's bank account and the above timeline now just three weeks away - the market is clearly looking forward to receiving news and photographs of the 140 acres of reclaimed land and completion of 2 berths(one equipped to handle the first vessels)!

My forecast - What the market may actually get - is news/photographs of around 80 acres of 'reclaimed' land at most and about half of the piling necessary to commence the construction of two small berths( around 20% of the physical progress expected by the end of Jan 2017)


Predictably, prior to approaching the market for new funds there were 8 photographic and three operational updates in 2016 H2 - yet, in the following 7 months there has been ZERO photographic updates and just ONE operational update!



SKIL Ports & Logistics Limited Placing, Open Offer and Subcriptions

'The Directors expect that the continued expansion of JNPT will represent significant opportunities for the Company. In particular, the Directors believe that the Company will benefit from the Facility being able to offer:

-- mid-stream discharge and loading of cargo at anchorage whilst vessels wait to berth at JNPT;'

This is MISREPRESENTATION on an epic scale !

I would like the Directors(particularly, the non-execs), to explain to shareholders how the vessels operating to JNPT, which are almost without exception pure container carriers (huge deep sea vessels that are GEAR-LESS - with no cranes on board), loaded with containers routinely stacked on deck up to 10 to 12 high, can be discharged in the anchorage?

The air draft, distance from sea level to top of the highest deck container stack on board many if these deep sea vessels is routinely 35m - 40m, the height of a 14 storey block of residential flats!

The small transhipment barges used in the anchorage of Mumbai Harbour are mostly gear-less(no cranes), and of the few that do have lifting equipment; it is a small fraction of the specification required to handle containers to/from these ships.

Why did the non execs allow the execs to put out such false and misleading information in a OPEN OFFER AND PLACING DOCUMENT?

Still awaiting answers from Cenkos to this question and others put to them - also had no reply from the company.