Mercantile Ports & Logis... Share Discussion Threads

[mount teide] 16/11/2018 19:46

AIM'S GREATEST WORK OF FICTION II !

The MUMABI MAMBA STRIKES AGAIN !

THE WHITE GLOVED BUTLER SUGGESTED 3BILLION SHARES AT 1P FOR £30M WAS NOT FAR OUT!

We are going to approach Hunch ventures and put them right.

This is nothing short of Fraud on Steroids!

So a part finished 95 acre coaster and barge terminal with a lightweight 400m jetty and a fantasy world 'carrying cost' of circa £140m according to management is to be extended to 400 acres and 2,000m of sea frontage if you WOULD JUST GIVE US ANOTHER £30 million. LOL !

By my calculations, pro rata to the money 'spent' to date they would need another £600m to extend the port to the size described in today's latest scam!

[escapetohome] 16/11/2018 19:09

HUNCH VENTURES have invested.

At Hunch Ventures, we are a group of entrepreneurs who invest in people. We believe in ... At Hunch, we look for partnerships and relationships, while taking pride and pleasure in growing together. We invest to add ...


Have they formed a relationship with the white glove butler?

Conditional fund raise to raise gross proceeds of up to approximately GBP27.75 million through a placing and subscription and up to approximately GBP2.07 million through an open offer

Placing of up to 973,151,000 New Ordinary Shares at 2 pence per share

Open Offer of up to 103,504,424 New Ordinary Shares at 2 pence per share

Subscription for 414,349,000 New Ordinary Shares at 2 pence per share

[waterloo01] 16/11/2018 18:33

They really have found the gravy train, it will never end.

"to extend the Facility to 400 acres, with 2,000 metres of sea frontage, which the Directors intend to pursue in the future"

[waterloo01] 16/11/2018 18:27

Cheek of it. Tempted to buy a share and go to the meeting. So banks not letting them draw the credit. Tempted? lol

[mount teide] 08/11/2018 01:09

The Taj Mahal white glove Butler tells me the Mumbai Mamba and his Thugs of Hindustan movie crew are close to issuing an update.

He says there appears to be no truth in the rumour currently sweeping the Mumbai business district of a 3 billion share placing at 1p to raise £30m to continue keeping the management in the lifestyles they have grown accustomed to at shareholders expense for the past 9 years.

Considering the shysters have yet to generate a single penny of revenue after 'spending' £135m of shareholders funds and bank debt - there is probably more chance of the Mumbai Mamba getting hauled up before the high court again for issuing blank cheques than being able to get another placing away after issuing AIM's greatest ever work of Fiction for the last placing.

[mount teide] 01/11/2018 19:31

Well, today is the second anniversary of the publication of AIM's Greatest ever Work of Fiction - more commonly known in equity market circles as the MPL Shareholders Circular to fleece clueless II's of another £37m - at least most PI's had the good sense to massively avoid the Open Offer like the plague.

So what have the scam artists masquerading as the 'management' delivered after 'spending' the best part of another £65m of shareholders funds? Far from having a fully built 200 acre port and logistics facility delivering first revenues in Q3/2017:

Some two years post the £37m fund-raising scam - they've added just 15 acres of the additional 125 acres of land reclamation they told the market in the Shareholders circular would be complete by Q3/2017! AND AT A COST £8M MORE THAN THE £57 million WINNING TENDER TO BUILD THE ENTIRE PORT!


Some 4 years after telling the market to expect first revenues from the logistics facility, and despite raising and 'spending' more than double the £57 million winning tender to build the entire port they have not even started reclaiming the 100 acres of land for the logistics facility and now only have £1.8m of cash LEFT!

Unhappy II's should forward their complaints DIRECT to the Special Fraud Office in London and Mumbai.

Now in its tenth year - is this the greatest LONG CON of them all? The late, great Robert Vaughan of 'The Hustle' fame might have met his match with this lot!

[pj 1] 29/10/2018 10:13

Whilst a totally different project I do note today's RNS from KEFI, of which anything similar has never been RNS'd by MPL and is conspicuous by its absence. It also begs the question why the nomad sees it relevant to RNS such for a miner, but not for a port. Why is the nomad not asking such questions. "- Completion of a 14km road route survey by the Ethiopian Roads Authority, for a new road required for the Project production phase;-- Completion of a 47 km route survey for electricity transmission lines from the regional main line to the site for the Tulu Kapi sub-station, carried out by the Ethiopian Electricity Power Corporation;"

[diku] 26/10/2018 13:49

Morale of the story is to bring a new IPO at the time of the financial crisis...punters fall over for new ideas...

[mount teide] 24/10/2018 15:53

Lol! - very good - first sale below 2p today.

Someone unloaded 22,822 at 1.93p - worth £57k at IPO after 9 years of funding the Mumbai Mamba's shenanigans and billionaire lifestyle they walked with the grand sum of £440 - not even enough to cover half the daily cost of the Mamba's white glove butler Taj Mahal meeting room.

The holder that threw in the total on Friday and got shot of 507,000 got £10k back for a holding that would have cost £1.25 million at IPO.

[phowdo] 24/10/2018 07:15

> "Where has the circa £65m 'spent' since the £37m placing disappeared to?"

You could try asking the auditor. They might have cake on their face though.

[mount teide] 23/10/2018 23:43

The Mumbai Mamba - Nikhil Gandhi

Ignore him at your investment peril - his involvement is potentially lethal to any investment!

New or prospective shareholders may be unaware that highly respected Sunny Varkey, the billionaire education entrepreneur and philanthropist, and Unesco Goodwill Ambassador served writs on former Everonn Education directors Nikhil Gandhi and P Kishore(MD) in connection with allegedly carrying out fraudulent transactions and siphoning off huge sums of funds from Everonn, of as much as £12m.

And that the matter is now under investigation by the Serious Crime Branch of India's Special Fraud Office following a formal complaint from a livid Sunny, who reports suggest is still incandescent with rage at the subsequent collapse of Everonn, after his accountants found the company's books to be a work of fiction and the accounts manipulated.

A Times of India journalist back in 2008 wrote:

'There are plenty of question marks around Nikhil Gandhi.

Why are investors willing to back him when he’s got precious little to show in terms of revenues or assets on the ground?

Why has he taken over three fledgling companies that have little by way of operations, but whose stock prices have soared in a bear market?

How can these companies with no fundamentals worth writing about shoot through the roof in a bearish market?'

Despite no revenue, Horizon Infrastructure's share-price soared nearly 30 fold in a matter of months, from Rs68 to Rs1,951 between January 25, 2008 and May 5, 2008. The National Stock Exchange did't like what it had seen, and following a short investigation, suspended trading in the company for almost 8 years.

Then in September 2009, Sebi, the Market regulator, charged officials of a second of these companies KLG Capital Services with insider trading shortly after the share-price has risen 8 fold in a few months and, barred it from the stock market. JL Capital, the third company went up a highly suspicious 11 fold in a similar timeframe.

Skil Group - the company that these three companies were merged into, saw its share-price rocket from Rs75 to Rs2000 in a matter of months in 2008 during a global market crash, but like MPL, it has since completely collapsed by more than 98%.

At first sight, Mercantile's extraordinary, £25k a month travelling and hotel expenses for the last 8 years seem totally implausible, surely there must be some mistake?

However, as David Bellamy the ex head of stockbroker Brewin Dolphin’s Leicester office found out when he visited Mumbai to discuss his BD Fund and personal shareholding in Mercantile, Nikhil Gandhi certainly likes the finer things in life, particularly, when someone else is paying.

I understand Nikhil arranged for them to meet at his exclusive Private Room at the magnificent Taj Mahal, Mumbai's top Luxury Hotel, for a full, white glove, butler service, breakfast business meeting(a private room with butler costs up to £1,000 a day).

[mount teide] 23/10/2018 09:16

Market Cap £8m - Debt Capital + Interest circa £95m - Revenue ZERO some 9 years post IPO!

In 2017 the COO told shareholders to expect 2 million tonnes of cargo throughout in 2018 - we said there was zero chance of that happening and would't be surprised if cargo operations had even commenced by then.

With two months of 2018 left the grand total of ZERO tonnes of cargo has been handled after 9 years and 'spending' £110m of shareholders funds.

THIS IS SOME TWO YEARS AFTER AIM'S GREATEST EVER WORK OF FICTION - THE MPL SHAREHOLDERS CIRCULAR TO RAISE ANOTHER £37M FROM CLUELESS INSTITUTIONAL 'INVESTORS' - SAID THE 200 ACRE 'PORT' AND BERTH INFRASTRUCTURE WOULD BE COMPLETE AND FULLY OPERATIONAL BY Q3/2017.

AFTER 'SPENDING'(THAT WORD SHOULD BE CONSIDERED IN ITS LOOSEST POSSIBLE SENSE) ANOTHER CIRCA £70M OF SHAREHOLDERS FUNDS IN TWO YEARS - THEY HAVE DELIVERED JUST 15 ADDITIONAL ACRES OF LAND AND THE ANOTHER 250M OF A LIGHTWEIGHT OPEN JETTY.

At this rate, to complete the 200 acres of land reclamation to the Directors preferred specification they will probably need another £500m and 12 years of construction time if the the last two years construction performance is a reliable guide!

A tough challenge since they only have £1.8m left of the £110m of shareholders funds raised and £30m of debt drawn down and 'spent'(of which £17m disappeared in 2014 some 6 months before any construction work began - the only NOTIFICATION TO SHAREHOLDERS OF the £17m loan draw-down was hidden deep in the results on page 25 as a loan interest payment liability falling over the next 12 months!

Interesting to note that the banks have restricted any further draw-down of the loan beyond £30m - our estimate, posted here over the last year or so, of the development cost to date as opposed to the complete fantasy world 'carrying cost' of £130m claimed by MPL.

[diku] 22/10/2018 23:47

Wonder if the insiders played the short game at IPO?...

Any more Coke or Sprite left?...

[mount teide] 22/10/2018 16:52

L2: 1.9p on the BID - A sobering 99.24% down from IPO

WINS and CANTOR only willing to pay 1.6p!

£1,000,000 'invested' in MPL at IPO would now be worth £7.6k!

The scale of the deception used in the Shareholders Circular to raise £37 million in October 2016 is breathtaking; you're spoilt for choice about what to highlight !

'By the end of the first quarter of 2017 the Company expects to have:
• reclaimed 90 per cent. of the land;'(180 acres - an additional 105 acres to the situation in October 2016)


Some 2 years later the LYING SCAM ARTISTS HAVE reported that a grand total of just 15 more acres has been added to the 75 acres completed when AIM's Greatest Ever Work Of Fiction the MPL Shareholders Circular to raise £37m was published.

Q2/2016 - Actual 75 acres
Q1/2017 - Target 180 acres - as per AIM's greatest work of fiction
Q2/2017 - Target 200 acres - as per AIM's greatest work of fiction
Q3/2018 - Actual 90 acres

Where has the circa £65m 'spent' since the £37m placing disappeared to?
Where did the circa £40m 'spent' months before any land reclamation commenced in 2015 disappear to?

[hvs] 16/10/2018 14:13

They can swim stupid. yet another INDIAN DUD best they stick to exporting IDIOTS

[pj 1] 16/10/2018 13:52

Don't mention LAKE, Obviously anything water related needs a very wide berth

[igoe104] 16/10/2018 13:49

PJ1 maybe we should start hitlist thread, dodgy directors who need a old fashioned kicking. you add ( Stuart black the old lakehouse CEO ) onto the list as well.

[pj 1] 16/10/2018 13:46

Both need a nice Port to go with them?

[phowdo] 16/10/2018 13:45

Seems this lot and CAKE have at least one thing in common.
Can anyone guess...

[pj 1] 16/10/2018 13:38

Nikitall Gandhi was well and truly battered some years ago. Within inches reportedly. It didn't alter him though did it? Maybe it even made him more determined to succeed in his chosen vocation!!!

[pj 1] 16/10/2018 13:35

Unfortunately battering people only gives a very small amount of satisfaction. As not only have you still been conned, and lost the same amount of money, but you now have time to reflect and stew on it even more, whilst surrounded by Bars that do not serve alcohol.

[igoe104] 16/10/2018 13:28

if I would of lost everything here, (like deepvalueinvestor) id have gone to the channel islands, and battered these conmen.



I got out a few years back think I lost 20k overall, hurtful but not that damaging.

[pj 1] 16/10/2018 13:23

A poster off the BB (maybe others)did attend an AGM. The problem though is it's not easy.(allegedly) Con-men are by nature enigmatic and do their job exceptionally well !!!

[igoe104] 16/10/2018 13:16

How these bunch of cowboys are allowed to get away with it ? someone needs to go to the AGM and lay them out.