Mercantile Ports & Logistics Limited

-0.75 (-17.65%)
Share Name Share Symbol Market Type Share ISIN Share Description
Mercantile Ports & Logistics Limited LSE:MPL London Ordinary Share GG00BKSH7R87 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -0.75 -17.65% 3.50 158,572 08:00:15
Bid Price Offer Price High Price Low Price Open Price
3.00 4.00 3.78 3.50 3.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Arrange Trans-freight, Cargo 1.80 -6.02 -14.50 - 1.45
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:00 O 300 4.00 GBX

Mercantile Ports & Logis... (MPL) Latest News (5)

Mercantile Ports & Logis... (MPL) Discussions and Chat

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Date Time Title Posts
09/6/202315:30Mercantile Ports and Logistics 2,240
13/1/200613:40Montpelier Group820
17/2/200511:08Cash rich MONTPELLIER under priced27
06/2/200517:41what merit in montpelier27
10/12/200408:16Montpellier (MPL) CHEAP. Share price=25.5p,NAV=40-50p,EPS=5-6p,P/E=4-5903

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Mercantile Ports & Logis... (MPL) Most Recent Trades

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Mercantile Ports & Logis... (MPL) Top Chat Posts

Top Posts
Posted at 02/6/2023 07:53 by mount teide
Plumbing new lows daily - market cap now down to £1.35m.

With the banks having a lien over the only asset, the heavily loss making business is worthless, like the equity has been for many, many years, to those that understand what has been going on here.

The only question left for the purists, is will the final guillotine come down on this fraud before or after the former CEO, who recently pled GUILTY in a US Court to the charge of carrying out a $300m securities fraud(while he was supposedly busting a gut looking after his shareholders interest at MPL), gets to know the length of the sentence he will receive!

Posted at 15/5/2023 15:57 by mount teide
The MPL shyster's sentencing is set for 25th July 2023 at 11:00 AM in Newark - Courtroom 4A before Judge Madeline Cox Arleo.

One for your calendars - have laid down a bottle of fine Champagne to celebrate the occasion!

Posted at 07/3/2023 12:45 by mount teide
The seller of that 41k share transaction today raised £2.5k, at the London IPO someone paid £1.1m for the shares.

The II's against better advice entrusted these shysters with a further £75m of their clients funds in two subsequent placings, supported by a Shareholders circular that were designed to mislead by suggesting a dramatic acceleration in the pace of land reclamation and hardstanding and infrastructure development.

The reality is there was virtually ZERO subsequent land reclamation of the outstanding circa 120 acres, that the management and NOMAD's representative said was necessary in order to ensure that the project met the actual project specification made in the IPO Documentation.

That the original £72m raised at the IPO was to cover the full 200 acres of land reclamation and yet, after raising and 'spending' nearly £200m in equity and debt, all shareholders have for their money is just 90 acres of very low cost foreshore land reclamation and a small jetty without any weather protection(with a build cost probably lest than £20m) shows the scale of the racket that has been going on here for over 12 years.


Posted at 08/2/2023 20:45 by mount teide
Perhaps the shyster previously masquerading as the MPL CEO, who is due to go on trial next month in the US for carrying out a $300m securities fraud could shed some light on it, seeing as he's likely to be going down for a 20 year stretch if found guilty.
Posted at 02/2/2023 08:57 by mount teide
JD - bulk commodities are extremely low paying cargo in terms of handling and storage fees. This type of cargo is mostly handled by terminals with specialist equipment equipped with automated cargo conveyors. MPL is handling it from barges using cranes and grabs - an expensive and archaic handling system by modern day standards.

Most bulk cargoes handled through the Port of Mumbai attract handling rates of less than £1/tonne. So, 1.2m tonnes of bulk commodities will have generated a pittance, that's why the Interim Results were so atrocious:

Interim Results:

Group revenue of £1.91 million (June 2021: £0.85 million) .

Loss for 30 June 2022 £6.52 million (June 2021: £3.40 million)

So, to increase their revenue by £1.06m losses surge by another £3.24m to £6.52m

Genius, sheer genius!

Cash: £2.01m !

'Management remains comfortable with market expectations' ....Lol!

Only cargo handled has been extremely low paying coal, cement, steel, olivine flux and project cargo.

Jay Mehta, CEO of MPL stated, "These financial results show an all-round performance aligned to a clearer business strategy".......yes, as we told you so, of losing ever more money the more you ramp up the volume of ultra low earning dirty cargo, that few else want to handle!

'The Group is expecting further strong operational and financial performance in H2 2022, which is extremely pleasing and does, I believe, show that our strategy is working.'

Really? By my reckoning, looks like you're going to soon run out of cash again, UNLESS you dramatically lower the volume of cargo handled!

Clueless, totally clueless!

The crooks may have departed the scene of the crime but they've left behind a bunch of fools to mind the banks 'assets '.

Posted at 02/2/2023 05:26 by danmart2
Thank you Tyler

In terms of MPL , this is a scam and is a danger to your financial health

Posted at 02/2/2023 01:12 by joinednow
this is from their recent trading update.( not a holder here)

Mercantile Ports & Logistics Limited (AIM: MPL) which is operating and continuing to develop a port and logistics facility in Navi Mumbai, Maharashtra, India is pleased to announce that, following a strong final quarter of trading, the Company expects to meet revenue forecasts for FY 2022. This year, MPL's facility at Karanja has handled approximately 1.2m tonnes of various bulk commodities and the Company sees strong momentum going into the next financial year. The Company has all the requisite infrastructure and permissions in place to handle container movement and it expects to commence handling of containers in 2023, which will be an additional revenue stream for the Company.
Jay Mehta, CEO of MPL said "This is the first full year of uninterrupted cargo handling operations at our facility. Every month we continue to service new clients, both on a spot and contracted basis. Next year our pipeline looks healthy, which should enable us to build on our successes of 2022. Going into 2023, we are excited to be expecting to start handle new commodities including liquid bulk cargo such as base oils and bitumen".

Posted at 01/2/2023 22:53 by mount teide
Latest Google Earth images of the terminal are very revealing.

The main jetty 9 years after construction commenced is still not complete.

Only 90 acres of the 200 acre development has been recovered from the sea/foreshore from port development.

Only 40 acres of the 90 acres has been developed into hardstanding for storage/port operations, and most is used by Daewoo.

The 35 acres Daewoo rent for a pittance is around 40% of the entire land area, and they have brought in a floating pontoon to service this area, to minimise what they have to pay the terminal operator to use the main jetty.

The only cargo MPL is handling for their own account is low volume coal, which has covered the jetty, access bridge and much of the eastern end of the terminal in a thick layer of coal dust.

The cargo turnover and revenue generation is minimal and the actual value of the asset probably now £15m at best, as its in a terrible state of repair and so stands little chance of attracting better paying cargo.

The clueless II's who gave the shysters £150m for 'equity' should be arrested for impersonating fund management professionals.


Posted at 21/12/2022 13:07 by mount teide
IG...'I'd love to see someone take cenkos to court for putting out false figures, and getting folks ripped off..'

Considering the number of writs and criminal charges for securities fraud the two main orchestrators of the MPL misrepresentation are currently fighting in connection with a number of other major financial scams they're alleged to have been involved in, any action brought against them or Cenkos with respect their scandalous 'management' of MPL would I suspect largely be a waste of time.

Most of the circa $180m of equity and debt raised is gone and will certainly not be recovered from the market valuation of the assets - which we believe is currently around £25-30m.... and clearly why the investment banks which have a lien over the assets, stopped letting the MPL management draw down any more of the circa $50m bank loan facility, once it had reached around $30m!

I strongly suspect the investment banks involved have paid for a very basic independent valuation of the asset......and from it concluded, what I have been writing about over the last 5 years.

Of course, with a lien over the assets, they will have been both delighted and astonished, that the MPL management has been able to continue raising further cash in the form of equity, as they know at least some of it will now be used to further enhance the value of their asset!


Posted at 27/8/2022 08:39 by mount teide
2021 Annual Report - so the shyster Mahatma after being forced to step down as Chairman continues to shakedown shareholders, trousering another £192k of their funds last year as an Executive Director - more than the clueless CEO and FD put together! For doing what?

Incredibly, the Non Exec's based 4,000 miles away continue to trouser nearly double what Non Exec's at Dover Harbour Board, Europe's largest Short Sea Port, get paid! For doing what?

Down 99.8% post IPO, the Institutional Investors should be ashamed of themselves for not only letting this £200m racket go on for more than a decade but, for cluelessly continuing to support it with their shareholders funds.

Interesting to note, the Port photograph used on the front page of the 2021 Annual Report is, like most everything else about MPL - highly misleading.

Once again, despite claiming the 'port' is now 'operational', the MPL management has elected to use a photo of a large container terminal at ANOTHER PORT, rather than a photograph of Karana Port - a tiny, part completed, break bulk terminal capable of handling only very small barges.

Where, after 8 years of 'construction', only 45% of the port land has been reclaimed for development, despite raising over £130m of additional funds in placings and debt post the £72m 2010 IPO, on the basis the extra cash was necessary, "to ensure the full 200 acre port project, could be completed, in line with the IPO document" - and that statement came from the NOMAD's representative's mouth in front of other shareholders listening in on the telephone call. The reality is that NONE of that cash was subsequently used for that purpose - just as we predicted at the time!

To help Institutional shareholders come back into the real world where the clueless idiots have lost 99.8% of their shareholders funds over the last 12 years, we would urge them to pay circa £15k for a Marine Civil Engineering Consultant to carry out a Cost Analysis on the port project construction work completed to date and for a professional opinion on the current market value of the asset.

We would bet serious money that it would finally bring the curtain down in no uncertain terms on one of AIM's longest running farce's(frauds), more commonly known as MPL's 12 year public rogering of its II's - particularly, if you insisted on the management providing every invoice over £10k paid since 2010, for the Consultant to give a professional opinion on(we would pay good money to see that report!) Especially, the $44m that was 'spent' in 2014, when the company could only demonstrate around circa £2m of asset development expenditure at the approach to the site for a small access bridge over a tidal creek!


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