Adani's Mundra Aluminium Scam explained

 Adani's Mundra Aluminium Scam explained: why this Bauxite Mine LOI is absolute Fraud based on Fake spread by Adani, NSE/BSE, Indian Media (Including Foreign affiliates like Fortune India) 

FIRST THE RATES, HOW MUCH IS CURRENT RATE of ALUMINIUM?

 

 According to London Metal Exchange, it is 2373.00 British pounds(£) for a lot of 25 Tonnes. 

You know, just like Crude Oil is sold in a measure of barrels, metals are sold in lots. A lot of Aluminium is 25 Tonnes. So a Ton of Aluminium is priced at 2373/25 = 94.9 £, lets round it up to 95£

So the market rate has been established, let me remind you, entire Kutrumali bauxite block has only 128 metric tons of mineral estimated deposit. I don't dispute, this bauxite can be found in eastern ghat hills but it is also known in mining circles that you never get that kind of deposit extracted in short period of time.

Since Mundra Aluminium has not set up any office or production unit in Rayagarha, Odisha and didn't even recruit anyone for that project, so jumping of Adani shares are premature and excessive. Let's see, which private Aluminium producers are currently ruling the market. Please note, they are all scum companies and I don't support anyone more over Adani. 

The Market Leader in Aluminium production (private companies)

So world leader can only produce 6.6 million metric tons of Aluminium. Even India's (or is it UK's now) Vedanta produces 2.2 million metric tonnes and that gave them world number 10 place in this list.

So total revenue that world number 1 from China can generate in a year in LME rate is about 660 million pounds or 700 million USD only. Remember they have multiple factories or production units and whereas Adani has Zero protection unit in operation or even under construction under the Mundra Aluminium limited. 

If you look closely, all top 10 Aluminium companies are led by cronies of Xi Jinping, Putin, West (Rio Tinto) and even from UAE and India. But they do produce the Aluminium metal which is currently being used from Window frames to Aircrafts, so Aluminium is useful for the city-life, there is no denying that. 

Does This Mean a "Letter of Intent" for a Nonexistent Production Unit of Mundra Aluminium, be termed as "Contract of Captive Bauxite Mine" as "Fortune India" did?

Show us the Money Mr. Chittaranjan Kumar? From where will Adani buyback the share-backed loans? If he had that, would we even raised an eyebrow, No.

Stop taking Dictation like Private Secretary and why oh why is Fortune India calling "Letter of Intent" as "Contract" ? Do you not understand, LoI is not legally binding and is only an document to get Bank loans to fulfil the financial obligations of the contract? I'm all for young people joining Journalism but if ends being cheeky and Oversmart fake news generation then I have to rethink my position on that.

How much more Public Sector Bank's money shall be thrown in Adani's damaged and sinking ship? Fortune Tried act cute and started calling Mundra Aluminium Limited as MAL. Now there were another company whose scrip is called MAL, an unrelated company Meyer Apparel Limited and some even more stupid broker started dumping that stock..

 

Don't blame me, I never called Mundra Aluminium as MAL, that was done by "Misfortune India" and their ilk.

Nobody in Indian Media, including "Misfortune India" managed to speak with the CEO or CFO or MD or General Manager of Mundra Aluminium Limited. Do you know why? 

They DON'T EXIST, just like this MUNDRA Aluminium Limited offices DO NOT EXIST.  It is a paper company with 3 directors who sit in Adani Corporate House and they are not Full-time Directors also ..

There is one Atmaram, who is Director in 4 other Adani companies, one Sajal, who is Director in 3 other companies and one Vinay Prakash, who is Director in a Dozen Adani company including Adani Enterprises.

Indian Media had produced this fake news to hike Adani shares and made Adani stocks vulnerable to shorting again. 

In middle of all that, only people's savings in Government banks gets more vulnerable as Modi would like to help Adani types instead of middle class in a financial crisis.  SHAME,  what a SHAME!