Mercantile Ports & Logis... Share Discussion Threads

[mount teide] 04/8/2020 10:21

99.92% down after 10 years for a port development/real estate project with a claimed asset carrying value of circa £170m, that is only 25% complete at best, and for which the civil engineering works for the construction of the entire 200 acre site, quay and hardstanding was won with a tender for £57 million.

One of the AIM scams of this new century!

[escapetohome] 03/8/2020 15:47

Oh Dear oh dear Oh dear oh dear

Shock shock shock n’ awe

New new new low

LOW LOW LOW ALL TIME.

[pj 1] 31/7/2020 23:39

i.e. ''the audit has not gone well and a number of serious questions have been raised that we need another month's grace to design better answers''

[phowdo] 31/7/2020 22:18

So the statement RNSed only a month ago:

"The audit is expected to be concluded soon and certainly before the end of July."

now becomes:

"The audit is expected to be concluded soon and certainly before the end of August."


You gotta laugh!

[escapetohome] 31/7/2020 18:56

Oh dear oh dear oh dear oh dear oh dear!!

Cant say you wernt warned.

New all time low

LOW LOW LOW LOW .

[mount teide] 31/7/2020 18:26

Accounts filing extension advised to market at 9.23am on the for certain final day for publication!

How to turn £8m at IPO into £6.7k - leave it in the care and control of these shysters......3.2 million dumped at 0.21p following today's RNS.........thats an 99.9% loss from the heady IPO days!

[laptop15] 29/7/2020 19:33

https://twitter.com/laptop1515/status/1288543095462735878?s=19

[encarter] 29/7/2020 18:21

You said " is there a buyer now "

[escapetohome] 29/7/2020 12:39

I said liquidity, not ‘buyer’.

[encarter] 29/7/2020 12:12

Appointment of Zeus for a placing would be my guess.

[encarter] 29/7/2020 11:58

Always a buyer for any stock. MM's are obligated to make a market. Volume will influence the price though.

[phowdo] 29/7/2020 11:08

Or perhaps a "Take it or leave it (it goes bust)" MBO at 0.08p arranged with the help of a Indian bank and a bucketshop.

[mount teide] 29/7/2020 09:21

IPO: 250p
First Placing: 10p
Second Placing: 2p
Third Placing: 0.1p?

Any Institutional Investor prospectively approached for the second placing, who subsequently read the IPO Documentation and Shareholder's Circular for the First Placing as part of their Due Diligence, should not have needed any port and shipping industry expertise but simply common sense, to realise it would be less painful to walk around the M25 with a six inch nail in their shoe than participate in the placing.

[escapetohome] 29/7/2020 09:13

Is there a buyer now for these shares for anyone wanting to sell —— with a potential raise on the horizon?

I dont know, but my guess is liquidity will dry up.

[escapetohome] 29/7/2020 09:04

0.1p the 50% discount for a raising?

[escapetohome] 29/7/2020 09:03

Its either raise money or bust.

[mount teide] 29/7/2020 08:54

As a rule of thumb, new Port Developments reach break-even at a utilisation rate around 75% of the design throughput capacity.

As repeatedly stated over many years, this terminal will never generate sufficient operating cash flow to meet the interest payments on the bank debt, never mind repay any of the loan capital.......interest payments which on an annual basis are multiples of the £1.6m a year annual REVENUE from Daewoo over the duration of the 40 month contract.

[waterloo01] 29/7/2020 07:20

Bet they want to rinse and repeat once more with more of London's money. Don't be fooled by the Daewoo contract.

[laptop15] 29/7/2020 07:12

https://twitter.com/laptop1515/status/1288356423521439745?s=19Wonder what's happening? Why the new broker?

[escapetohome] 27/7/2020 10:12

if profit does come in one day , i wonder where it will go?

[nick rubens] 27/7/2020 10:09

At these prices, if this project does eventually succeed and to profitability then it's a multibagger. £5.5m revenue from Daewoo over 40 months shouldn't be overlooked. It's likely to be extended too, unless Daewoo are meticulously perfect with costing their projects.

Any news on more contracts like this and it's going to be taken seriously once again.

[escapetohome] 24/7/2020 13:04

All time low approaching . Ahoy there!!

[fillipe] 24/7/2020 09:51

MPL - firming up, this morning.

f

[mount teide] 23/7/2020 18:03

'Hope that white gloved butler is in good health..'

He should be, he's been feasting hearty on Mahatma's MPL shorting tip for over a decade!