Highly speculative. A gamble that relies on faith in directors doing what they boast they can do. Building a port on India's west coast on an inlet where they plan to construct a manmade island structure just offshore with short bridge links to it.

Posters on other bulletin boards have obtained and displayed numerous photos in the past two weeks, showing hundreds of trucks busily streaming to and from site in a nose-to-tail convoy, tipping material being levelled at a rapid pace now as the contractor plays catchup in building the port at last.


Pictures taken this week, looking back towards land, from the port area being built offshore. Trucks seen in Image 7 are on the road linking port to shore.

Port is basically a rectangular manmade island 1.0km wide being built just offshore, with two roads linking it to shore (one recently built, one later).

Share price has doubled in 14 weeks since bouncing of its alltime low in November.
Seems people are at last convinced that serious progress is happening on site.

EDIT (April): But fell back on news that work is hindered by local protestors.

Saudi money heading for India. Presumably other such funds that follow will include stakes in ports and other key infrastructure areas..

Saudi Gazette

The company website has been updated (see News page) with images of apparent progress. Block paving in place and some gantry steels being assembled.

EDIT: Scrutiny by posters on other bulletin boards has revealed that these photos are NOT from the port site, but are from the contractors compound 2km from the site. Such misrepresentation does not bode well. So, as ever, have good defences in place on any holdings.

And I thought it would be finished by now?

Juzzle - 17 Jan 2013 13:53 - 21 of 57
Halifax - with construction commencing during current quarter, port is expected to be operational by the middle of 2014. Where is your 2020 from?

New progress pictures have been added to the company website NEWS page this morning


http://www.skilpl.com/images/stories/site3.pdf

Share price currently up more than 11% today - 40% up from its last low in August. Perhaps investors are finally believing that construction is progressing, following this morning's release of site photos.

The company got a very positive mention on Share Radio yesterday. In the latter part of the broadcast.

Spread <2%.

for those brave enough to buy stocks direct in this and any other emerging or similar market, note well the tiny volume traded

Here we go, up up and away. Bye bye cynic.

not at all ...... i dare say my JPM fund holds some, and that is the only way i'll play emerging markets

worth noting that barely £60,000 (108,229 shares) changed hands today

House broker Cenkos reportedly taking a group of institutional investors to see the site soon. Which presumably indicates there will by then be something more than a heap of dirt to look at.

RNS out.

poor old mitzy hadn't the strength to post it :-)
it really isn't very interesting at all


Project Update
SKIL Ports & Logistics (SPL) is pleased to provide the following update in regard to the development of its port and logistics project in Navi, Mumbai, India. Onsite reclamation work continues to progress, and the Company confirms completion of the 300 metre bund to allow the new piling gantry to be erected at the point where the quay wall will commence.

All parts of the gantry are scheduled to be in position within the next three weeks, with reclamation work continuing in parallel. SPL's engineers have reported 10 hectares have been reclaimed to date.

The Company website www.skilpl.com/news.html has been updated with recent photographs and the Company will continue to update its web site on a regular basis.

These photos datestamped yesterday (Dec1), show significant advance since the last Google Earth image. (Go to Google Maps, search Karanja Creek (the capital K and C are essential), press the Earth button and zoom in.

And dated today, by courtesy of poster 'darlocst'. Showing piling gantry parts arriving on site:

images

"While the share price went down and down over the past 5 years, there have been many investors convinced that each upsurge was more reliable than previous failed ones - only to find it wasn't. A year ago the share price grew 100% in about 3 months - before dropping to an even lower low. So what makes this current surge any more reliable than previous ones? Onsite evidence. Previous surges were all based on words - this one is based on pictures. Pictures posted on the News page of the company website - underscored by comparison with satellite images at Google Earth (search Karanja Creek, Uran). This time we are not reliant on accepting the promises of what will happen - we can actually see something happening - and so can skeptikal analysts who shied away in the past. Though the whole concept may yet hit technical snags of course.

Two concerns of mine are that the future completion of a port might not necessarily be reflected in the performance of the shares - because of future fundraising dilutions maybe - and because of any crafty diversion of assets from SPL to other companies owned by directors.

Despite past assurances that the company has enough funds/loans to complete the project, I doubt that. I think there will be a further stockmarket fundraising.

(Johnny Tooslow)


EDIT: I have amended JT's suggested Google Earth search term, which others have pointed out didn't work.

and i think anyone who buys directly into ANY emerging market is very foolhardy

Investors resident in emerging nations might say the same about London's AIM market ;-)