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.

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 ;-)

they may indeed and with some justification, but i'm not much interested in them

posted elsewhere by CharleyDuck this morning:



A few snippets from a contact in Mumbai recently:-

On the site of the port at Karanja, the base on which the piling gantry will be erected is in progress. Two of the four temporary piles are in place and they are currently concreting the third. They were told that the base should be complete by next weekend (Christmas day?)

They have also started constructing the temporary platform on which the concrete batching plant will sit. This will need a piled foundation with about 25 or 30 piles. The form of construction of the main jetty is by cast in-situ concrete piles.

SKIL and ITD Cementation have of course been treading carefully in regard to the villagers and all is well.

In regard to the aerial shots of the site taken from a drone, I understand that the plan is to do this on a monthly basis – so I guess we might expect to see the next lot in the first week of January.

Reclamation continuing, with between 500 and 1,000 truck loads per day.

Sounded like all is progressing well.

-------------------------------------------------------------

Thanks very much indeed for that.

Along with today's announcement, 31 new images of progress have been added to the company website NEWS 2016 page

Great chart and round bowl formation.

Smashing chart.

100% up from its August low.

EDIT: Slipped back later.

Where do you see this in 12 months time Juzzle.

Higher than now. But I am not prepared to gamble heavily on that expectation, because I am aware of possible risks in how the company handles whatever money it makes (eg, whether any of it is creamed off and diverted to related entities), and what other excuses it might come up with for future delays. Delays and excuses do seem to be plentiful.

Thanks Juzzle I'm holding for at least 6 months here still not without risk.

spread <2%.

9 new pictures added to company website today, showing ongoing progress:
click link

And now a 26 minute drone video showing site activity. Ongoing reclamation, piling and dredging. Filmed yesterday.

Spread <1%.

The company website has been updated to include a press article regarding the proposed (and long promised) Mumbai trans-harbour link - which is now expected to go out to tender in March:

link

This is HUGELY significant in cementing the future prospects for the new port that the company is building.

Chart about to turn here.