Fox Marble Share Discussion Threads

[wolstencroft] 23/8/2016 18:38

paleje: I will, but it will take a good hour or two based on what I've found to put everything together cogently with a detailed set of unambiguous hard-to-evade questions.

I'm just posting here as I find stuff. I'm only looking into this occasionally.

[andy] 23/8/2016 13:55

Wols,

Yes good research there, and interesting that Banyan were based in Gibraltar!

Now we have Eboracum, a company that has made a order for Euro 2 million, yet nothing of any substance that we can find to back up such a large order. If they don;t fulfil it this year, can the remaining be carried over until the next year and still claimed as an "order" I wonder?

The company definition of an "order" and a "sale" seems far removed from everyone else's, even Tom sounded a bit miffed!

[paleje] 23/8/2016 13:43

Why not ask CG directly about your suspicions.

[philjeans] 23/8/2016 13:06

Stinks !!

Good research.

When is company and Tom Winni going to come clean?

Stinks!!

[wolstencroft] 23/8/2016 12:27

Eboracum remind me somewhat of Banyan back in 2014:

Banyan formed on 1 Dec 2014 three days later buy EUR 1.5m worth of marble.

FOX 4 December 2014
New long term offtake agreement signed €1.5m worth of block marble
Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, is pleased to announce that it has entered into a long term offtake agreement with Banyan Stone Limited ("Banyan") headquartered in Gibraltar.

FOX on 14 April 2015
December 2014 offtake agreement with Banyan provides for a minimum commitment of EUR1.5 million of block marble over the next 18 months. Prepayment of EUR250k received in February 2015

Fox on 21 January 2016
2015 reported sales expected to be around EUR230,000 with the bulk of the existing 2015 order book pushed into H1 2016

FOX on 19 August 2016
Revenues for the half year are EUR0.26 million

So Banyan a SINGLE customer, who ordered EUR 1.5m over 18 months resulted in TOTAL SALES FOR THE WHOLE COMPANY of, er. EUR 490,000 in the following 18 months

I think this shows what Fox think of orders and sales, and how different they are.

Am I being cynical in seeing a potentially repeating pattern of:

New customer places big order and prepayment received from a buyer
with no or little internet presence
founded just a few months (days) earlier
with a registered address as a service address

Placing and fundraising

New customer doesn’t result in predicted sales (Banyan, will Eboracum?)

I guess we will find out in the next 6 months



Company Name: Banyan Stone Limited Company Code: 112392
STATUTORY INFORMATION Legal Status: Active Legal Form: PRIVATE COMPANY LIMITED BY SHARES Date: 23 Aug 2016
REGISTRATION INFORMATION Registration Date: 01 Dec 2014 Registration Authority: Companies House Gibraltar Registration Number: 112392
FINANCIAL INFORMATION Last Annual Account Date: 31 Dec 2015
CONTACT INFORMATION Registered Office 13/1 LINE WALL ROAD,GX11 1AA,GIBRALTAR
ACTIVITY INFORMATION Activity Declaration: Other retail sale in non-specialised stores

[andy] 22/8/2016 11:01

czar,

But the problem is not the factory, it's the lack of orders!

They can process an order through Italy, although their own factory raises the margins on that "order", if it subsequently becomes a sale of course!

What's your definition of an "order" and a "sale, out of interest?

[czar] 22/8/2016 10:06

Andy currently £16.7m, EV £14.36. I understand why so many investors are bitter, this company has continued to disappoint but the only way to make serious money is to get in when everyone is negative. I am a contrarian but sadly not always right. On a risk reward Fox does look good to me.

[andy] 22/8/2016 09:58

czar,

do you know what the market cap is?

[andy] 22/8/2016 09:54

Harold,

Did Tom put money in personally, or was it his fund's?

[philjeans] 22/8/2016 09:28

Complete POS (as Winni would say) - needs adding to his filthy forty list - not Chinese but very very dodgy.

Chart says it all and now fudging the figures!

No sales at all and still not operating!

SELL.

DYOR NAI

[czar] 22/8/2016 07:15

I don't know if Fox will get real traction on sales but they are so small in terms of market cap they don't have to sell much and they are on a pe of 1x so if things do go well next year they will be a ten bagger at least. There can't be much risk because the marble in situ is worth over €60 billion. I had a punt but will be picking more up if they start making decent sales.

[haroldthegreat] 22/8/2016 07:00

Loverat tw has put in money in the last placing.

[smarm] 22/8/2016 06:55

Factory still not operational and no sales. No change then.

Orders should not be booked to sales.

S

[loverat] 22/8/2016 06:17

Typical TW. The first articles on his long tips are typically rampy but when things start going downhill, rather than go completely bearish he produces a more balanced article. It is just a credibility saving excerise so people don't accuse him of complete U turns.

Soon he will turn his fire on the company and advise people to sell. Just as he has done before.

[andy] 21/8/2016 23:38

Wols,

Yes, and it's very handy to be able to have an order for Euro 2 million,(but as we now know, it's not a sale) which is being counted for RNS purposes, but if the vast majority is not sold this year, can they carry the remainder over to next year and claim it in their orderbook for 2017?

Very handy if they can......

[wolstencroft] 21/8/2016 22:56

Andy: Exactly.
Of course Scott may be a brilliant guy. I guess if I was invested I'd like to know more.

[glennborthwick] 21/8/2016 22:50

very interesting watch anyway. Like an intelligent share based soap opera.

[andy] 21/8/2016 21:22

I wonder if Tom read my post #1201?

-------

"I do rather wonder what is the point of announcing the value of the "order book" if a "customer" can simply say "actually old fruit we'd like to order less". Until Fox can show a period of converting an order book into actual sales it is a pointless metric. Let's see if it finally does deliver on that count in H2.

In terms of actual sales as opposed to "orders" which are clearly not sales so I can't see how they are orders, "

[paleje] 21/8/2016 21:19

Didn't mean to duplicate your link philjeans.

[paleje] 21/8/2016 21:16

It seems TW isn't exactly over the moon with the update but nor is he ranting.



I think this focus on Eboracum is frankly a waste of everyone's time. I've asked CG plainly about them and he apparently doesn't want to answer the minutiae but by the answer he did give me he saw it as an order with a deposit and the possibility of further orders. That's all, no more than that. It isn't the future of Fox Marble.

What Chris needs to do is show where sales are going to come from, not waste his time defending his decision to take a deposit from a company with a dodgy website and no traceable history. Wouldn't you take a deposit? I certainly would.

Instead of guessing and speculating, why not do as Exbroker suggested and phone or email Chris and hear what he has to say. The more who do, the more he will appreciate the level of concern this is causing pi's, rightly or wrongly.

Future sales should be everyone's focus, Chris's too as I'm sure it is, and he needs to give firm guidance soon on that score or get someone who can.

That's not to criticise the digging of information, just doubtful about its relevance in this instance.

[exbroker] 21/8/2016 17:37

Wolstencroft
I think it is the website but as you can see its not to generate sales! I don’t know the answers to the other questions but if you email Chris Gilbert at fox he should be able to help, as he is pro small shareholders.