Mercantile Ports & Logis... Share Discussion Threads

[tez123] 16/2/2021 10:00

Should see .8 shortly

[my retirement fund] 16/2/2021 09:35

It should be possible for most people to off load, plenty of ignorant mugs out there.

[diku] 16/2/2021 09:07

Anybody who bought around the 0.23p and sold today might just make good money...

[rmart] 16/2/2021 09:06

1p min incoming

[tez123] 16/2/2021 09:02

Plenty in the tank today

[mount teide] 16/2/2021 08:54

Transactional value so far today is £45k - that would not even cover the cost of Broker Cenkos' Christmas lunch in the City !

[escapetohome] 16/2/2021 08:45

Well, all the same, it seems those that bought low and now have the opportunity to sell high did rather well.

Good research pays as much as no research.

[mount teide] 16/2/2021 08:27

You don't build a port terminal with a laughably claimed £170m carrying value to handle ultra low value, ultra low stevedoring and port storage revenue generating cargo like bulk Coal and Cement.

The market was disingenuously told the target traffic was the ultra high revenue generating container traffic currently handled at the nearly new JNPT Container Terminal 4, recently built in 2 years.

Of course, those with long experience of the industry knew this was just another crudely planned management ruse to effect further placings to keep the scam going.

Coal and Cement handled through the Port of Mumbai currently generates cargo handling revenue of less than £1 a tonne!

AIOHO/DYOR

[michaelsadvfn] 23/1/2021 20:46

figtree994 Jan '21 - 17:01 - 1956 of 2003 0 1 2

If you buy from here on, the share price can only rise...

🙄

[marvelman] 20/1/2021 19:02

Written by a professional.."imvestors" both current and potential ignore at your cost.

[mount teide] 20/1/2021 18:51

Unbelievable! .....the disingenuous charlatans will do anything to keep the plates spinning!

The shysters, 6 months after raising another £37m in November 2016 from clueless II's already down 96% post the IPO, quietly revealed to the the market the 1000m all weather quay as described in the IPO Documentation, would now be a lightweight 400m jetty without any weather protection - rendering it largely unusable for many types of cargo throughout much of the 5-6 month monsoon season.

However, they laughably pointed out that the jetty would in fact have 800m of quay length: ie 2 x 400m (using the inside and outside of the jetty!).....which would mean losing at least 60 acres of the 200 acres to provide marine access to the inner berths!).

The shameless scam artists cheerfully claimed this revision to the port design specification(preferred by the Board - I bet it was!), would come at an increased cost of circa £37m, rather than the £25m saving we estimated it should have been!

So imagine our surprise to find in the latest Google Earth images that they have still not completed construction of the Jetty but have decided to build an access bridge to the centre of the jetty directly from the storage compound.

Presumably, because of the problem we told them they would have with just a single access point at the eastern end of the jetty......namely the massive near mile round trip running distances to transfer cargo to/from vessels on the jetty......up to 10 times further than the original all weather fixed quay design.

So, to overcome this problem which would dramatically increase the cost of operating and see ship turnaround productivity fall off a cliff, the shysters/knuckleheads decide to build a fixed link from the storage compound to the 200m point of the jetty.....effectively at a stroke cutting off all vessel/ barge access to 200m of quay on the inner side of the jetty before it had even handled a vessel...(lol!), and reducing the total quay length available from 800m to just 600m.

And don't forget the Karanja Creek 3 mile access channel from Mumbai Harbour to the terminal jetty has got just 3.0 metres of water in it........less than my local yacht marina!

After reviewing the work completed at Karanja Terminal in the latest very clear 2020 Google Earth images with two friends, also industry professionals, we have revised our valuation of the work carried out to date to £20m max......well below the circa $30m plus interest loaned by the banks to date, who have a lien over the asset.

Considering the severe vessel draft restrictions in the marine access channel and reduction of the usable quay length to just 600m, and circa 60 acre reduction in the land area of the terminal, together with the fact that only 90 of the 200 acres of land originally due for reclaimation in the IPO Document after 6 years of construction is complete, and that only 30 acres of that has so far been developed into open storage for low value cargo, we consider that what has been built to date to have a trade sale value of around $10m-15m.

$10-15m - Estimated Trade Sale Value of Karanja Port Asset
$20m - Estimated Cost of construction work to date
£160m - Management's calculation of the carrying value of the asset in the accounts

£0m - Revenues generated between 2014 to Q3/2020
£60m - Estimated Debt Capital and Interest Payment Liabilities

£7m - current Market Cap

Market(correctly) seems to think that it's only a matter of time before the banks exercise their lien over the asset and render the equity worthless.

AIOHO/DYOR

[mount teide] 13/1/2021 19:25

PJ1 - 'Ship repair yard 🤣🤣🤣🤣9315;'

You just knew Mahatma would have to throw the old ship repair yard chestnut in, plus an LNG carrier handling facility to fashionably demonstrate his 'green' credentials !

[pj 1] 13/1/2021 19:02

Maybe azalea is still interested and supportive?

[pj 1] 13/1/2021 19:01

Ship repair yard 🤣🤣🤣🤣9315;

I cant see any reference to the ''no fly zone''

[waterloo01] 13/1/2021 18:42

lol. Everything except a port for fishy men.

[mount teide] 13/1/2021 18:35

When you think you've seen everything never underestimate Nikhil Ghandi, the Wolf of Mumbai, to prove you wrong!

For bared faced chutzpah his latest scam takes the biscuit!

Buoyed by their success of taking the City for £150m plus £50m from Investment Banks who sensibly insisted on a lien over Mercantile Ports & Logistics only 'asset'; the shysters that brought you Karanja Port, one of AIM's greatest ever scams to market are now going for the sequel, despite the original having NEVER, after 8 years under construction, produced any revenues!

The 30% completed £200m cost to date of Karanja Port (West) is to be followed by the £276m Phase 1 costed Karanja Port (East).

The techno-economic document carefully prepared to effect a scam that makes MPL's November 2016 Shareholders Circular to raise another £37m, look like the Hors d'oeuvre before the main course - a ten course banquet called Karanaja East!



From a technical perspective its amateurish in the extreme and completely disingenuous - failing to stand up to the slightest critical examination.

For instance, the suggestion the part complete Karanaja West Terminal will have a 5 million tonne cargo throughout next year increasing to 77 million by 2030 is beyond fantasy - the Port of Tilbury which is more then 10 times larger and capable of handling deep sea ships handles circa 20m tonnes annually.

Nikhil Ghandi who was responsible for preparing the plans for the Karanaj East terminal must have been smoking some of the weed he once hawked on the streets of Bombay as a youngster to produce it - before he learnt that white collar crime was much more lucrative!

Ghandi, further to a criminal record for industrial scale insider trading, is currently the subject of writs alleging he siphoned hundreds of $millions out of companies he had previous executive responsibility for into companies owned by him and his family. Police investigations in this connection involved his homes and offices being the subject of early morning raids by elite special fraud squad officers.

The white gloved butler at Mumbai Taj Mahal smiled and rubbed his hands on hearing the news of Karanja East.....asking Mahatma in his £1,000 a day suite, when he and his team of professional scammers will be hawking Karanja East, his latest blockbuster fictional novel, around the AIM Casino and London's well heeled Institutional Investment community for a fourth hit, which this time would be equivalent to more than 10 Brinks Matt heists!

AIOHO/DYOR

[phowdo] 09/1/2021 10:30

Remind me who MPLs auditors are again?


"Grant Thornton is being sued for £200m by the liquidators of Patisserie Valerie after the cake shop chain collapsed following suspected fraud.
Liquidators FRP Advisory said Grant Thornton was negligent in the preparation and conduct of 2014 to 2017 financial statements. "

[figtree99] 07/1/2021 18:55

DYOR....

Now where’s my jaffa cakes and slippers?

[pj 1] 07/1/2021 18:34

Except we didn't crash your wedding, you turned up uninvited to our wake.

Its normal for human being to give what they take. So, after all you have learned about MPL on this thread in just a few days ( I.E. SHARED BY US), maybe you could share the research you have done on the Company?

[figtree99] 07/1/2021 18:23

SI, Wouldn’t get too comfortable with popcorn n marshmallows. Not Tom n Jerry show.
I don’t go round crashing other folks weddings that is my point.

Far more important and far bigger pressing issues going on out there as i write, that need to addressed than pushing an silly opinion on stocks.
Way way more important..

As far MPL is concerned what will be will be..
More folks hang out than our local Costa’s that’s not good for mental health..

[scepticalinvestor] 06/1/2021 16:49

this thread is hilarious.not invested in this bargepole stock but the comments are funny.

[marvelman] 06/1/2021 16:48

Fig...I, for one, am most grateful for MT's selfless efforts on this and many other stocks he covers. He genuinely tries to help others avoid the stocks that have been tried and tested as being those to avoid. Unfortunately (for them) some people just can't be helped and you appear to be one of them.

[figtree99] 06/1/2021 16:47

Thank you all the same.

Now what’s for supper?

[figtree99] 06/1/2021 16:42

When investors ever need marriage advice they will come to you.

priests...

[pj 1] 06/1/2021 13:03

figtree. You should thank MT for going your research for you.

You have learnt from him in the last few days that you are now invested in a Company that cannot afford to repay its Bank debt, has as good as nil Revenues with a Team of fraudsters at the top, hiding where the cash has gone as it sure hasnt gone in to any related asset

I wish you well with your strategy.