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Premier Milton group I'm guessing wanting to dump around 9% they hold, following last reduction in holdings before recent update. Lack of buyers/liquidity making it difficult to dump. Expect continued downward pressure until mms find buyers imho 4.5p incoming imo
Lack of volume, lack of interest, BOD has been summed up by the moment in price dropping from great heights. On a down trend. One of the easiest short, revising my short target between 4.5p to 5p imho
Opemned a short here from 12p...and still kept it running, it has further to fall IMO. Can see 5p here imho
Could do well from this low point
Outstanding
LOL LOL LOL
You were all warned
Thank you again Mount Teide for all your help, good luck to you in 2023.
This morning's trading update is overall positive I think. The only slight negative I thought was if they've had a strong quarter, you'd hope they'd beat expectations rather than just meet them. But generally bullish words, so let's hope we might get back into double figures!
Headline says it all
I’ve had a look at the numbers in April and came to the same conclusion (although I expected it in June).
Let’s wait and see.
Were out last week. Has anyone got any views on them? It seems to me unless they land some serious contracts soon they will have to raise some more capital, so the begging bowl will be passed round the shareholders again.
A little bit of buying today, at what looks like a new low in SP, though diluted from the last placing, done at 45p.
Some interesting institutional shareholders on the register which makes it hard to write off, even though disappointing so far. Have a few in the bottom drawer.
Flowing very very very slowly.
Maybe our good days are idling closer
Seems 40p was Optimistic
Outstanding
there is a second reason for the big cash dip could be the development of the port to increase storage volume
I’ve looked at the interim results from October 2021. It says they had 1.68 million cash at 30 June 2021 (in June 2020 they had £ 7.80 million cash!!),
Group revenue is currently: 0.85 million
The loss for 2021 was £3.40 million.
So if you take the cash they had in June last year and than add the anticipated revenue for this year and then subtract the anticipated cost (loss) - you’ll end up with something very negative when June 2022 comes around … unless they find a pot of gold at the end of the rainbow by then.
How long until the latest cash funding round runs dry?
Don't company's learn from other getting done for fraud, they all get caught eventually its laughable in a way but not for us.
I've just checked and you're right - only tugs are using the port right now. This is a surprise to me as I check it most days and there's recently been a fair amount of dredging in the port by the ANTAREJA
Despite the Indian seas being a hive of activity there is not a single ship currently using the port!
Every other port in the area has significant activity except for this scam.
Thanks again MountTeide ,
You warned me maybe 18 months ago or more,
I told people , but all the rampers, wanted people to lose more , so they could get out,
Great job Mount ,
Good luck to you in 2022
Just a quick note to say thanks for the heads up Mounteide. I only dipped a toe in back end of 2021 and swiftly got out again at break even after checking out your posts. I will learn to do more research on the back of that experience but at least you saved me from a loss.
Had I held the faith I'd be underwater now, as I have found myself elsewhere...
As we move into year 11 of the disingenuous management doing nothing more than losing all their 'investors' money by, lets be generous, impersonating 'Port Developers', here's an idea...... the Board could perhaps use their time more productively by giving Pavin Bakhshi, their former CEO and now highly paid MPL 'Consultant' moral support, by flying out to New York for Pavin's upcoming trail in the US for allegedly carrying out a $300m securities fraud, while he was telling his shareholders he was busting a gut running MPL.
Bakhshi will need all the support he can get as the US courts have a 98% conviction rate compared to just 61% in the UK.
I've been charting this recently and notice it's about to break through its 4-year downtrend, so started to dig deeper with my research, including a look at chat forums like this. But before reading your take down of Nikhil Ghamdhi, I had already discovered that the current Chair is none other than Jeremy Warner-Allen, who was on the BoD of TPG while it was being used as a personal cash till for the ousted CEO. Not only was JW-A as useless as a chocolate fireguard at TPG, but if you search on Google, he has form for not fully disclosing his shares in broker Cenkos (The Times, 26 Dec 2014). The MPL BoD seems as dodgy as a fairground operator's management team. I will watch from the sidelines, and be grateful that proper research has probably saved me a couple of limbs!!
How to turn £1m into £2k - invest in MPL at the 2010 London IPO and let its management 'manage' your 'investments'!
Former MPL Executive Chairman for nearly a decade and now NON EXEC Nikhil Ghandhi continues to fight a number of lawsuits alleging he carried out industrial scale frauds,....... one writ states he siphoned tens of $millions from a previous company he had Executive Responsibility for, into accounts run by him and his family.
Ghandhi has a previous criminal conviction for industrial Scale Insider Trading which saw some of his companies either banned outright or suspended from the Indian Securities Market for up to 8 years.
Former MPL CEO, professional liar and shyster and now highly paid MPL consultant Pavin Bakhshi's jury trial in connection with charges that he and three accomplices carried out a $300m securities fraud in the US, has been scheduled to commence on 15th Feb 2022 before Judge Madeline Cox Arleo.
Only Bakhshi and Parmjit Parmar will undertake the jury trial as the other two alleged fraudsters are currently fugitives from justice, hiding from law enforcement!
Now down 40% from the recent placing !
Back in late 2016, two shipping and port industry friends and I (all 40 year veterans of the industry with long and deep senior management experience) during phone calls lasting hours, explained to the largest II's that they would lose all their clients money and how we knew - they subsequently refused to listen and then compounded the problem by doubling down twice in subsequent Placings. These guys collectively bought £tens of millions at the IPO at £2.50 a share and are now down 99.8% on that 'investment' and 98% on the first placing 'investment', and 90% on the second placing 'investment'.
The sharper eyed will note the current market cap of £13m is less than half the bank debt drawn to date before the ever savvy banks, that have a Lien over the 'assets', embarrassingly put a complete stop on any further withdrawals. It is now at a level that is just 40% of our estimation of the current market value of the construction work completed to date!
If it looks and smells like Industrial scale FRAUD, avoid like the plague !!
Why did they do that?
Answers on a postcard to the Mumbai Fraud squad.
There's new satellite imagery of Karanja Terminal available on Google Earth Pro, as part of the "Historical Imagery" feature.
There are two photos, one from October and one from November which both show significant ramping up of operations compared to the current Google Maps photo from February. There doesn't appear to be much new construction of jetty, but what jetty there is is certainly a lot... dirtier. A significant area of port appears to be used for coal. There's also a sort of floating dock on the western side, seemingly servicing a separate, western portion of the port.
The differences between the Oct and Nov photos show a significant change in the containters on the western side, suggesting significant active use.