Mercantile Ports & Logis... Share Discussion Threads

[tomboyb] 10/1/2024 12:40

This consolidated at 0.2-0.3p -

It would not surprise me if this eventually ended up there again -

[tomboyb] 10/1/2024 10:43

Interesting when the whole investor community knew not to give MPL money but was supported regardless -

Makes you wonder W I M M H -

[igoe104] 10/1/2024 08:41

Any fund thats invested in this should be black listed for not doing its due diligence properly.

Its now down 99.99% down from its listing...

[mount teide] 10/1/2024 08:36

Another totally disastrous year of non performance and another certain massive loss - to now try and blame it on one month's poor throughput performance of an ultra low revenue generating cargo like bulk coal is laughable!

Now the revenue from the short term TATA contract - where they rented a large area of the terminal hardstanding and guaranteed access to a section of the jetty ( effectively allowing the contractor to operate as an independent port operator inside MPL's port) - has now stopped, all that is left is a few ultra low revenue and margin dry bulk cargoes like coal that most other small terminals will not handle, because they cannot afford to!

[researchcentre123] 23/11/2023 16:44

A little odd - as shares sold prices go up. Maybe there's a big order?

[researchcentre123] 27/10/2023 08:52

Seems to me that if directors are buying with their own cash, which they are, then there is very likely to be a big upside here

[pj 1] 17/9/2023 19:55

🤣🤣🤣😲8562;😲ԅ62;😲😲;😲

[juchris222] 17/9/2023 19:53

This company has a very good NAV .

[danmart2] 06/9/2023 16:09

Hahaha


20p

Read the message boards, this company is a scam and a diabolical investment

Its being ramped so people can sell into the rise

[firestarter1] 06/9/2023 15:43

Bought some here will sell at 20p

[mount teide] 12/6/2023 08:27

MRF - M&G - Richard Penny - who moved to Crux Asset Management about 2-3 years ago after losing 99% of his circa £15m IPO investment plus further placing cash in MPL.

And guess what one of Richard's first investments at Crux was?

A shareholding in MPL on the basis of after falling so far, it was in his opinion now a Special Situation 'recovery stock'! The share price is since down massively!

I rest my case your honour!


Posted 18 months or so ago on here:

'While Richard Penny may be a 'Hall of Fame' Fund Manager, like all of us he is not infallible and can occasionally get it wrong, sometimes spectacularly so.

When Richard was at M&G, his fund was one of the two major shareholders in Mercantile Ports & Logistics (MPL). I tried in vain, via a number of long phone calls, to explain that the company was a huge fraud and how I knew.

Despite providing overwhelming evidence to support this view, he still went on to take part in a subsequent £37m Placing(after M&G had already put in £15m at the £72m IPO) ...that was supported by a Shareholders Circular I described to him as one of AIM's greatest ever works of fiction, and how I knew.

Sadly, the rest is history, the IPO investors who stumped up £72 million are currently 99.8% down, for what is a straightforward real estate investment. At the time shareholders were told by the lying shysters running the company, that the IPO funds were sufficient to ensure the company was fully funded through to completion of the build out and commencement of operations!

The company has since raised another £130 million from further placings and bank loans, yet after 12 years this tiny new port development is still not even half complete and has a carrying value in the books of circa £190m.

Two industry professionals and myself believe the current value of the work completed to date is around £20-25 million.

The banks who lent MPL £49m have a lien over the asset.

The former MPL CEO who was re-employed by MPL as a high paid consultant, was arrested in 2019 by the FBI on arrival at JFK airport, and charged with a carrying out a $300 million securities fraud in the US. He is currently out on a 7 $figure Bail awaiting trial.

The former MPL Executive Chairman who is still a Non Exec, has a criminal record for industrial scale insider trading and is currently the subject of a number of writs alleging fraud and embezzlement, including one stating he siphoned hundreds of £millions out of a company he previously had executive responsibility for into bank accounts held by him and his family. The company subsequently went in to administration.

M&G's original $15m is 99.8% down, and their subsequent placing 'investment' 99.2% down.

Incredibly, some 5 years later the scam is still ongoing after the shysters running the company were able to keep the lights on by convincing the clueless II's to support another £47m of equity placings.

Latest MPL Interim Results:

'Strong balance sheet with total assets of £148 million (June 2020: £168 million), a debt to equity ratio of 0.47 (June 2020: 0.38) and cash of £1.68 million at 30 June 2021 (June 2020: £ 7.80 million).'

Current Market Cap: £6.9m

Roy Chubby Brown wants to know where they get their stand-up material from!

Link below to Letter sent to the General Council of Cenkos the City Broker who to this day still acts as their NOMAD - one of seven, which went unanswered ...... they didn't even have the courtesy to acknowledge receipt.

Shortly afterwards all references to MPL were removed from their website.

Most of the content was discussed with Richard, who subsequently decided to listen to the two UK NED's who suggested he was being misled - they resigned a few years later after trousering nearly £1m between them for doing Sweet FA for shareholders.'

[danmart2] 11/6/2023 21:21

This has all the hallmarks of a complete and utter scam

[kumbuka] 11/6/2023 20:32

Pretty good line up of losers bully boy pj

PEL, SBTX, OPTI, MIN, INSG and FLX

[kumbuka] 11/6/2023 20:31

It’s a scam company and who would you expect to be invested bully boy pj.

[pj 1] 11/6/2023 19:21

AH Cenkos. That will do nicely !!

[phowdo] 11/6/2023 09:35

Stuffed brown envelope incentives still a thing in the City of London, where the FCA and SFO look the other way?

[my retirement fund] 10/6/2023 18:46

A true bargepole list for investors to avoid those dirt incompetent fund managers. Which one of the guilty parties did you forward about the fraudulent nature who so rudely ignored your helpful free advice and deliberately wasted their clients' money then MT?

[diku] 10/6/2023 08:37

What chance after the Placing and Sub if successful name change will come...

[diku] 10/6/2023 08:35

The clue is in the AIM name before investing...AIM = Am I Mug?...







dave45459 Jun '23 - 08:32 - 2237 of 2241
0 2 0


Aim never gets regulated, nobody goes hold on a minute this company has been doing this for 20 years now placing after placing, where is all this money going perhaps we should stop this happening

[diku] 10/6/2023 08:30

All credible glorious names above...are they making money on the way down...shorting their own shares or some other financial hedge instruments...

[bozzy_s] 09/6/2023 12:50

MT do you have a note of which funds have wasted client money here?