MMH - Marsden Maritime Holdings

[sb9]

Anyone see Nat's finance spokesperson Paul Goldsmith being interviewed on Q & A last night ? Talk about hopeless & deliberate obfuscation, couldn't get a straight answer out of him what National would do about the port, (or anything else for that matter) just fell back on requiring more reports.
i.e. more procrastination, until decision would be made for them.
Very disappointing.

I watched that interview on Q+A last night on TV1, yes he was hopeless as a finance spokesperson for National. Just wouldn't answer one question properly, just kept beating around the bush. Compare him to someone like Bill English, they'v some work to do on that front the Nats.

[Balance]

There she goes SP -$7.02.

The big boys want in on the best infrastructure play on the NZX for the next 10 years and beyond.

And there's not a lot of stock around so pay up!

Mine are not for sale until $50.00 sp.

[Aaron]

Well, it's clear that NZF has won the war on shifting POA to Northland - just a question now of logistics*.

One issue identified by the Working Group is that Northland Port ownership structure must be changed - https://www.nzherald.co.nz/business/...ectid=12290790

Next move may be POA imo making an offer to take over majority ownership of MMH so watch the space!

*Took Sydney 9 years (1970 to 1979) to shift from Darling Harbour to Port Botany - look how wonderful Sydney is now with Darling Harbour becoming a focal point for the city growth beyond the core CBD into the harbour.

I wonder how it would work. If the POA Chief is correct they need to build wharves half way up the Whangarei Harbour. Who pays for the rail. Who funds the port expansion? Current shareholders? I don't think the Northland Regional Council will have that much money. Current shareholders would be so tiny compared to the size required for the new port they could get screwed in the financing and ownership changes, who will argue the current shareholders position? NRC? The whole process will be out of the current shareholders hands.

Doesn't look like there are any shares left to buy anyway.

Balance are you just wildly ramping an illiquid stock.

I recall some predictions regarding Metro Glass and an imminent buy out price.

I assume the fact Shane Jones is making the announcement on Thursday then it has to be North Port.

[Balance]

I wonder how it would work. If the POA Chief is correct they need to build wharves half way up the Whangarei Harbour. Who pays for the rail. Who funds the port expansion? Current shareholders? I don't think the Northland Regional Council will have that much money. Current shareholders would be so tiny compared to the size required for the new port they could get screwed in the financing and ownership changes, who will argue the current shareholders position? NRC? The whole process will be out of the current shareholders hands.

Doesn't look like there are any shares left to buy anyway.

POA offers $750m for 50% of MMH via a capital injection will be one way (values existing shares at $21.00 per share to recognize strategic and land values).

POA obtains $1 billion from sale of some of the Auckland prime waterfront land.

Leave it to the investment bankers and the lawyers - there's plenty of money to be made here.

[Aaron]

POA offers $750m for 50% of MMH via a capital injection will be one way (values existing shares at $21.00 per share to recognize strategic and land values).

POA obtains $1 billion from sale of some of the Auckland prime waterfront land.

Leave it to the investment bankers and the lawyers - there's plenty of money to be made here.

Tony Gibson CEO of POA is on the MMH board of directors and the only two board members who have shares in MMH only hold a small amount. How hard will these people be negotiating on behalf of current shareholders if they have no personal financial interest. Also they will be more inclined to consider the national interest above the current shareholders making outsize gains on their shareholding. I suspect you will be sorely disappointed when the restructure is announced in ten years time after all the engineering, environmental and other planning is completed. In the mean-time the share price will have deflated as the excitement drains out and the reality of the massive construction ahead sinks in.
It is a bit of a worry Tony Gibson so strongly opposed the North Port option as he should have a much deeper understanding of the issues facing MMH. Possibly you are correct in that he makes more as POA CEO than director of MMH. He also has not suggested a better option other than the status quo.

[Aaron]

That said I wonder how many hectares of land around the port they have for development. Looks like they are putting up warehouses and other industrial buildings at the moment. Lower log volumes means a chance to diversify cargo would make MMH more desirable but it will be interesting if they put a timeline on Thursdays announcement and maybe I am getting ahead of myself POT has had a jump today.

Is it buy the rumour, sell the fact?

[Aaron]

There she goes SP -$7.02.

The big boys want in on the best infrastructure play on the NZX for the next 10 years and beyond.

And there's not a lot of stock around so pay up!

Mine are not for sale until $50.00 sp.

The big boys??? $20,000 worth of shares traded? Looks like someone is happy to sell small lots at small increasing 6 cent increments. Anyone on this site? Better get buying Balance $7.10 is well shy of $50.

Mind you at 30 times current earnings and a 2% yield the possibility for growth makes this look better than a term deposit. As long as you don't sell when it drops by 50%.

The MMH CEO on $200k a year is only willing to risk $15,000 which looks more like a punt than a serious investment.

[Blendy]

That said I wonder how many hectares of land around the port they have for development.

I had a big chat to a local who lives at One Tree Point today and they said that they believe the available land is larger than the current POA site. (They are not involved in any of this at all, I just was interested to get some info from the community)

[jonu]

I had a big chat to a local who lives at One Tree Point today and they said that they believe the available land is larger than the current POA site. (They are not involved in any of this at all, I just was interested to get some info from the community)

I know of a local private individual who as accumulated quite a few hectares in the surrounds over the years.

[Balance]

The big boys??? $20,000 worth of shares traded? Looks like someone is happy to sell small lots at small increasing 6 cent increments. Anyone on this site? Better get buying Balance $7.10 is well shy of $50.

Mind you at 30 times current earnings and a 2% yield the possibility for growth makes this look better than a term deposit. As long as you don't sell when it drops by 50%.

The MMH CEO on $200k a year is only willing to risk $15,000 which looks more like a punt than a serious investment.

You need new glasses.

$500k+ of shares bought today so far on market.

And unlike others, I always put my money where my words are.

Do you?