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I do love shares full of negativity.
Third bag so far, as per.
More negativity please.
"They have since lost over 99% of their original investment and over 95% of their subsequent placing investment to date." - Exactly why the risk to reward might look attractive to new investors like myself. Investing in pounds and watching the price become a fraction of a penny can be frustrating. My sympathies are with you.
Tils - strewth, where do I start? .......carrying out some decent research worthy of the name BEFORE posting can often help to prevent making yourself look extremely foolish.
In the 2010 £73m IPO was in fact in 2010 - the admission documentation stated the Port Infrastructure would have a 1,000m quay and 200 acres of storage hardstanding.
After 11 years and spending more than three times the winning tender bid to develop the port they have reclaimed just 90 acres of the 200 acres from the foreshore and developed just 30 acres into hardstanding for storage! And constructed a lightweight 400m metre jetty without monsoon season protection instead of the 1,000m all weather quay detailed in the admission document.
ITD Cementation won the tender to build the Port to the specification contained in the admission documentation - their winning offer was £57m.
Some 11 years later it is staggering that the IPO investors are still to hold the Company to account for a massive breach of their IPO Admission Documentation and responsibilities - subsequently repeated in two Shareholders Circulars for Placings and Open Offers totalling another £75m, which many of the original IPO II's also cluelessly supported despite having the benefit of advice from industry professionals to avoid like the plague!
They have since lost over 99% of their original investment and over 95% of their subsequent placing investment to date.
AIMHO/DYOR
An investor who has obviously bought in at a high price and is understandably angry at the company. In Dec 2018 after the share price had plummeted from highs of £2.43+ back in 2010. However, we can see an investment from Hunch ventures of 414 million shares bought at 2p in Dec 2018. Yes, there have been many problems in the past but buying in now for new investors is a no brainer in my opinion. If I had bought in at £2+ or 10p I'd be cheesed off! But other big investors still hold a large amount of shares in this company such as Schroders, M&G, Hargreaves Lansdown, British Steel, Hunch ventures and many others so he have to question why have rhey not sold many months ago?
“ The company is currently implementing its maiden project of developing a modern port and logistics facility at Karanja Creek in the Raigad District of Maharashtra. The facility will be developed over 200 acres of land with a sea frontage of appx 1,000 meters.”
Read the description.12 acres is not one third of 200. They got the other 100+ acres to develop. Once they get permission to acquire some more land in the vicinity, it could be 275-300 acres atleast overall.
With your 90 years of experience and ‘high quality’ research, would have hoped you would know better.
I should thank you though MT. i had got 7k worth of mol at .23p as a newbie to stocks as a speculative buy. When i started researching, i came across 100s of your posts pulling mpl down. Sold off for a few 100s loss. I was new to the stock market and was taking the derampers here too seriously.
After the director buys in december, i did my research, reentered with 10 times my initial investment ( literally all my covid stock profits) in mid 0.3s and now this is my biggest holding in trying to over-compensate my losing out on the cheap 7k investment.
So thanks to your constant deramping and twisting of facts ( including gems like calling him Mahatma, saying Mr Gandhi sold weed on the streets of mumbai mocking his humble beginnings where he sild beetle leaves), i could enter this stock at an unbelievable price.Many thanks, I would never have imagined i would hold almost one percent of a port.
If and when it goes up to 2p would you stop deramping? Or 5p?
For £2.33m of revenue per year MPL is to hand over 50% of their berth quay capacity and 33% of the port storage hardstanding developed to date to a stevedoring company handling ultra low value and revenue generating bulk cargoes!
Circa £165m - Cost of port development to date
Circa £90m - Bank Debt Outstanding (Capital and Interest)
No Port Operator in their right mind would sign a contract handing over such a large part of the port's operating infrastructure for effectively peanuts!
This smacks of complete desperation - a vain attempt to keep the plates spinning and hefty salaries and expenses maintained for as long as possible from the cash remaining from the last placing - little of which, as with the IPO and other placing funds, has been used for the purpose detailed in the Placing documentation.
AIMHO/DYOR