Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"Following which MPL will then have to repay £11.18 million annually to the banks - £6.78m in capital repayments plus £4.4m in interest!" - MT, completely Wrong calculation imho as :
1. The 'total amount owed + interest paid' seems to be considered as the borrowed amount and
2. The amount owed becoming less after each payment has not been considered imho
My calculation(very rough):
Total owed to the bank: 36.5 Millions
Total repaid to the bank over 7 years(including interest calculated at 9.5% per annum with amount owed reducing each quarter): 47.6 Millions
Total interest paid(over 7 years) = 47.6 - 35.5 = 12.1 millions
My rough calculation if the interest was paid annually
Total amount paid each year = 47.6/7 = 6.8
Total amount owed to bank---Rough interest paid(if the instalments were paid annually)
Year 1 - 36.452--3.46
Amount owed after year 1 = 36.5 + 3.46 - 6.8 = 33.16
Year 2 - 33.16--3.15
Amount owed after year 2 = 33.16 + 3.15 - 6.8 = 29.51
Year 3 - 29.51--2.8
Amount owed after year 3 = 29.51 + 2.8 - 6.8 = 25.51
Year 4 - 25.51--2.42
Amount owed after year 4 = 25.51 + 2.42 - 6.8 = 21.13
Year 5 - 21.13--2.00
Amount owed after year 5 = 21.13 + 2.00 - 6.8 = 16.33
Year 6 - 16.33--1.55
Amount owed after year 6 = 16.33 + 1.55 - 6.8 = 11.08
Year 7 - 11.08--1.05
Amount owed after year 7 = 11.08 + 1.05 - 6.8 = 5.33
I have calculated interest to be paid annually and not quarterly; Also calculated amount owed to be reduced annually while it actually reduces quarterly. So the difference of 5.33 millions after year 7 would be for annual calculation and would be zero for quarterly calculation imho.
Am no expert at these calculations, but this is what it is as per my understanding. Please correct me if I am wrong.
“Taking into account the increasing number of boats and the resulting burden on Mumbai’s Sassoon Docks, the then government had decided to construct a new jetty at Karanja,” Baldi said. “In 2011, work on the project had even begun but it got stuck due to lack of funds.”
“Under Sagarmala Yojana, the state government has agreed to give its share of Rs 75 crore for the project. Once the entire process is completed, work on the jetty will begin in October.”
“To ensure that work begins in October, the minister ordered officials to initiate the tendering process at the earliest,” Nakhva said. “The jetty will be of immense help to the fishing community in Raigad coastal area.”
Spot on GF, karanja jetty seems to be a government project with nothing to do with karanja terminal.
https://www.google.co.uk/amp/s/www.hindustantimes.com/mumbai-news/work-on-new-jetty-at-karanja-near-mumbai-to-begin-in-october-says-minister/story-uyiu0W4gShWJoUqdBe455M_amp.html
got my 39k accustem shares. Sold off at around 1.28, looking to re-enter by the year end if the prices remain low.
fair enough StanAccy, the extra traffic from JNPT now that covid is under control in Mumbai and contracts for storage of raw materials for the mumbai bridge might be the next big triggers. But who knows, with the lack of comms and updates from the board, i still view this as a high risk high returns investment
Thanks GF, the marinetraffic.com link works for me
https://www.marinetraffic.com/en/ais/home/shipid:655467/zoom:10
https://en.m.wikipedia.org/wiki/Mumbai_Trans_Harbour_Link
Daewoo and Tata are two of the 4 firms which have signed long term commercial contracts with MPL. Hoping L&T would be the next contract to be announced, fingers crossed.
"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.
“ 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?
lol wadogara. The tesla tweet was a godsent, couldn't resist doubling my exposure here at the cost of some of my other stocks which were performing well. The king is putting his head down and ramping up capacity , doing what he is paid for and not doing a lot of PR. Would take a hardworking non-communicating unassuming ceo over someone flashy anytime, particularly on the AIM market.
The next ad is even better:
https://www.cv-library.co.uk/job/213860967/Inventory-Controller-x-2
Inventory Controller x 2
Hours: 2 x shifts: 7.00am -3.00pm OR 11.00am – 7pm
11 pm to 7 am graveyard shift will probably be added when they ramp up production some more ..lol
Hot off the press, was checking one of the 3-4 jobs advertised today:
https://www.cv-library.co.uk/job/213861377/Inventory-Controller?sid=158faf13-bab7-4f65-ac24-57f369db5e83
Round the clock, round the year, production even during bank holidays ;)
Hours: 11.00am – 7pm
Other information:
Instead of 5 weeks holidays plus 9 set bank holidays, we provide 34 days’ to be used throughout the year – like all other holiday requests Omega Diagnostics will try to be accommodating but it’s always subject to business needs.
lol..cheers GF. .yes, perhaps good and relevant news and perhaps not, am not sure either. If the PR team(if there is one) pull finger out and start updating investors we would not have to speculate and wonder so much.