Mercantile Ports & Logis... Share Discussion Threads

[figtree99] 04/1/2021 17:51

Please share,
How much did you pay and how many shares do you hold ?

[figtree99] 04/1/2021 17:50

Mount get over it.
I couldn’t give a flying fxxx about he past 11yrs be it a £5m co, lloyds plc, debenhams, aston mrtin, cine, whatever you want you want swing a dart on.

Read my lips - get over it.
You’ll never get married otherwise being bitter over every organisation on the uk markets. No company or directors are ever perfect. But you’re arguing over £5m market cap...lol

Oh my days...

[mount teide] 04/1/2021 17:28

Up 28% on £120k worth of transactions!

Nearly 2 years since the Terminal was supposedly opened and the 'management' still has no revenues to speak of, or shipping companies operating to the terminal, after 'spending' circa £180m of other people's money.

For a part completed Terminal development that 11 years after the IPO and seven years after construction commenced still has more than half the 200 acres of land to be reclaimed, and has only got 15% of the terminal hardstanding complete.

At their present rate of progress the 'management' will need another circa £180m just to complete the terminal to a standard far lower than detailed in the 2010 Admission Document, for which a £57m tender was subsequently awarded to reclaim the 200 acres, build the 1000 meter all weather quay(since changed to a cheap, lightweight 400 metre jetty), and 200 acres of storage hardstanding.

Where is 100 acre logistics park that the Executive Chairman told shareholders back in 2014 would be complete and earning revenue by the end of the year? Perhaps he meant by the end of 2024!
Long experience suggests that at the present rate of construction progress there is more chance of Dianne Abbot winning the Grand National riding side saddle on a Shetland pony that that happening!

How have they been allowed by the II's and AIM Regulation to get away with it?

AIOHO/DYOR

[figtree99] 04/1/2021 17:05

I missed the last director buys, don’t ask how, that and the fact astra zen vaccine is about to be rolled in India, next news update will be in January and likely in relation to new contracts and new CFO.
I have all the time in the world, holding for long term.

[figtree99] 04/1/2021 17:01

If you buy from here on, the share price can only rise.
Don’t care about the past 7 years.
Forward into 2021 is all I care about.
Agree, good entry point from here

[nick rubens] 04/1/2021 13:53

Even a few sizeable sells not holding it back and still hasn't attracted much attention on the BB's.

[natty27] 04/1/2021 10:49

Things going to hot up here shortly, great entry price imo

[natty27] 04/1/2021 10:49

https://www.statista.com/statistics/1121930/india-estimated-investment-for-port-improvement-by-area-of-infrastructure/

[natty27] 04/1/2021 10:48

https://www.google.co.uk/amp/s/in.news.yahoo.com/amphtml/draft-indian-ports-bill-2020-153341459.html

[escapetohome] 04/1/2021 10:12

Unexpectedly, there seems to be a bit of life in this dog.

[nick rubens] 04/1/2021 09:33

If the next bit of news is good following those director buys then a bagger and more is coming.

[mount teide] 03/1/2021 11:53

A tale of two port terminals built on Mumbai's Uran Peninsula. One a major deep water Container Port, the other a small, shallow water barge terminal.

JNPT Deep Sea Container Terminal 4

A 225 acre world class container terminal and 1km rail link to handle the latest generation 400m long container ships and built on land reclaimed from the 25 metre deep waters of Mumbai Harbour.

Commenced construction in late 2015 and completed construction and received first ships for handling trials in late 2017 - fully operational by early 2018.

Budgeted Cost: $520m(£385m) - Actual cost: $515m(£382m) including 8 Port Cranes @ $5m each


Karanja Creek Barge Terminal

A 200 acre barge handling terminal to be built on the 3 metre intertidal foreshore of Karanja Creek - £57m winning tender to complete the terminal civil engineering - comprising 200 acres of land reclamation/hardstanding for open storage and a 1000 metre fixed berth.

Commenced construction in 2014 - some 7 years later the terminal is not even half built.

Budgeted cost: £57m - Cash and debt raised to date:£200m - 'Spent': circa £180m

Only 90 acres out of the 200 acres of land has been reclaimed. Of this, less than third has been developed into hardstanding for open storage.

The 1000m all-weather quay was changed to a very much smaller and hugely cheaper 400m lightweight weather affected jetty AFTER £160m of cash and debt had been raised ! This design is totally different and much lower quality than that put in the IPO document.

Commenced Construction in mid 2014 - according to management
By 2021 still less than half of the terminal has been built after 'spending' £180m for a straightforward low spec barge terminal, that is probably worth less than £30m today for port related activity, which shareholders were led to believe would be completely built under a £57m tender offer within 2 years.

Cash and Debt raised: £200m
'Spent': circa £180
Current Market Cap; £5m

How could the II's and Non Execs have allowed all this to occur, particularly when they were repeatedly warned by concerned industry professionals?

Answers on a postcard to the Mumbai Fraud Squad and AIM Regulation!


AIOHO/DYOR

[kevraff] 30/12/2020 12:58

This company is not even close to investment grade. However given the directors purchases made at start of this month and the end suggests to me something must be brewing. Perhaps worth punt.

[phowdo] 30/12/2020 11:45

Lots of AIM junk going up last few days.
Rising tide lifts all boats...

[diku] 30/12/2020 09:37

Never understood how insiders are able to pick up shares at the bid price while wider shareholders pay the offer price...and here as usual RNS comes out of hours...do they ever work during office/market hours?...

[waterloo01] 30/12/2020 09:28

Noted the buys. Either a raise on the way or maybe they have a buyer for the site?

Certainly a dog though.

[nick rubens] 30/12/2020 09:25

Some interesting director buying yesterday. Could get interesting in the months ahead. A bit of a punt I know. Dogs do have there days sometimes.

[diku] 21/12/2020 09:18

Lame duck so called Institutional investors who invest other peoples money...

[mount teide] 21/12/2020 09:09

Covid-19 temporarily extends the liberty of that pile of dung more commonly known as Pavindeep Bakshi, the former Mercantile Ports CEO.

According to Criminal Court Docket Sheets of the District of New Jersey, Pavin Bakshi the former Mercantile Ports CEO and still highly paid consultant, recently had to pay a US$1,000,000 Bond to be released from jail for the purpose of ensuring his upcoming appearance in court for trial in: USA v Parmar, Bakshi et al who are charged with carrying out a $300m Investment Fraud Scheme in the US.

[figtree99] 17/12/2020 09:37

Rns is overdue incl new contracts announcements.
2021 is all about £revenue.

[diku] 09/12/2020 20:44

If they wanted to do a wash rinse and spin cycle all over again then...how about a share consolidation followed by a share Placing?...round 2...