RE: Value13 Jul 2020 16:36
From Jan16 th Update RNS:
The Company can report that further progress was made in the second half of last year. The infrastructure works on site for the Daewoo Tata JV contract, signed in September, are continuing and are on track to enable revenue under this contract to commence in April, as planned. At the same time, there were further cargo movements at the site in 2019 as potential customers trialled the logistical and environmental benefits of shipping through Karanja. These individual movements have been small but feedback from customers has been extremely encouraging. Additional larger contracts, referred to in previous announcements, are taking longer to negotiate than hoped. Given the long-term nature of these contracts, the Company recognises the importance of agreeing optimum terms, and is prepared to take the necessary time to secure them. The Company can confirm that all discussions that were taking place in 2019 with potential customers continue and remain positive. The Company is confident that these relationships will be converted into contracts and that the Company will generate meaningful revenue in 2020 as planned.
Share price has been drifting lower since September with little news. MPL need to show where and when revenue will be forthcoming. IMO that is what will drive the share price back towards 2019 levels. Which would be a healthy profit from these levels :)