Fox Marble Share Discussion Threads

[andy] 07/6/2017 08:15

phowdo,

Yes I think that's a fair comment.

A placing must be a distinct possibility given the cash position at year end, IMO.

[andy] 07/6/2017 08:08

wols,

Yes it will be interesting to see how Tom spins this into good news!

He's always found a way before.

[wolstencroft] 07/6/2017 08:04

On the other hand they "completed" an order to Eboracum which is no mean feat as Eboracum are dormant.

No mention of Banyan....

[phowdo] 07/6/2017 07:56

Chris will be retired (very comfortably too) long before the Jam arrives for shareholders...

[pugugly] 07/6/2017 07:54

New funding probably required - (imo)


Operating loss for the year of €3.04 million Net cash position at 31 December 2016 of €0.94 million (2015: €2.8 million).

[wolstencroft] 07/6/2017 07:49

Oh dear.

What more can one say?

Well, it appears to me that with costs at circa EUR 3.5M a year they need to sell well over EUR 4.4M a year to break even, and that's their "order book" which we know doesn't translate into sales because they do orders and sales differently to almost everyone else. Another loss this year?

Over to Tom W for some spin....

[glennborthwick] 01/6/2017 14:25

Finals came out this time last year. Any idea if they are due.

[andy] 25/5/2017 22:20

"Good luck long term holders", I think.

Nashwan?

[discusser] 25/5/2017 08:28

"GLLTH" beat me. "Good luck all those holding"?

[andy] 25/5/2017 08:15

nashwan,

Yes this has to be one of the slowest 'growth' companies on AIM.

And of the contracts announced, one, Banyan, is a moribund company, and Eboracum looks to be in the same boat.

Recent announced orders to Turkey and India are for raw blocks, with a low margin, rather the high margin processed and polished marble.

Good luck to you too.

[nashwan123] 24/5/2017 23:32

Unfortunately I had to sell my FOX holding today.I would have expected to see some signed contracts by now but this is a very slow burner. GLLTH.

[andy] 15/5/2017 13:05

Discusser,

Well Kosovo is not universally recognised as being independent, and the Serbs still covet it as their own, so an element of risk for sure.

The EU is courting Serbia, but they are trying to use Kosovo as a bargaining chip, and there's a stalemate currently.

However I see the chances of actual conflict as small to minute, the EU is watching over Kosovo, as is most of the world.

[discusser] 13/5/2017 15:48

I think a more interesting/disturbing risk here is the political risks. Important to keep an eye on it.

[wolstencroft] 07/5/2017 13:00

One would think so. I'll write to the nomad? I've written in the past and they were just not interested

[pugugly] 07/5/2017 09:22

wolstencroft:> Most interesting re Banyan - and also Eboraacum - Surely if true FOX ought (under one of the regulations - trouble is that compliance is multiplying like a pair of rabbits !) a to issue an rns advising of order failure as if demise true would (imo) be a "signgicant fact" if that is the correct word.

[wolstencroft] 06/5/2017 21:18

Just got Banyan Stone's accounts to Dec 31st 2016.

Assets: cash in bank 3500
No fixed assets at all, not even a computer or a desk
Liabilities nil

Of course no one cares that millions in orders were announced from Companies such as Banyan and Eboracum (which is dormant now) which were quietly forgotten....

well..apart from me and Andy!

[glennborthwick] 04/5/2017 21:05

richard round lasted 9 months then

[wolstencroft] 28/4/2017 08:21

...If Chris can't then Tom will find a way!

[andy] 28/4/2017 07:15

Wolstencroft,

(Q: Can you confirm they are no longer in your order book?
A: we are comfortable with our order book as most recently disclosed.)


What a politician's answer that is!


Yes the order book figure quoted is not much good if Chris is refusing to say whether Eboracum's order is still in there or not, now that Eboracum are dormant!

Is Banyan's "order" is still in there too I wonder? And what about the Chinese group's?

And Fox is the only company I can recall that gives "orders", that don't equate to actual sales! It's hard to believe it's allowed under AIM rules.


Yes rinse and repeat seems to be the way here, if they ever need another placing I wonder how they will justify it?

[andy] 28/4/2017 07:01

Exbroker,

It's hard "for us", but surely Fox have a handle on their own costs and margins?

Yet these are never mentioned!

Every time I ask a mining company what their all in sustaining costs are, (and this is the only figure I really need), I receive a reply, yet in Fox' case, I never do!
Yesterday I attended a presentation and they were very forthcoming about costs giving ming costs and AISC before having to be asked to do so.

They have certain fixed costs which are divided into units sold, then there's the cost of extraction and shipping, amongst other things. At the very least they could quote the number for last year, as all costs are now known.



Investors needs transparency, otherwise how do they make an informed decision?

[exbroker] 27/4/2017 23:35

Andy
I am saying that it is hard for us to work it out

[wolstencroft] 27/4/2017 23:29

Andy, it's a lost cause I think. We see it time and time again where old punters lose, then there is a fund raising, and then story is told again to new ones who buy in...repeat ad infinitum.

Occasionally one of these AIM stocks really looks as though it can escape from this endless cycle. IMHO there is no indication Fox will be. Others clearly disagree.

But Chris is very clearly saying that they will sell EUR 4.4M this year. Nothing about orders being pushed back to Q1 2018. But then nothing about Eboracum which is a dormant company now and Chris knows this so he can't have it in the order book because that would be deceptive surely, so they must be racking up orders at some pace to replace Eboracum!!.

BTW of course when I asked him he refused to say whether it was in the order book or not, just that he was happy with the order book.
(Q: Can you confirm they are no longer in your order book?
A: we are comfortable with our order book as most recently disclosed.)

[andy] 27/4/2017 20:21

Exbroker,


"Given that the number of blocks quarried each day is small and each one effects the margin then it is a bit meaningless."


So you seem to be saying Fox have no idea what their margins are, is that correct?

[exbroker] 27/4/2017 17:48

Andy
As you seem not to have a calculator let me help you.
Cost to extract per m3 = 120e
From the Fox website, relative density’s vary between 2.65 and 2.8 g per cm3 so cost of extraction is between 45.2e and 42.9e per ton.
Given that the number of blocks quarried each day is small and each one effects the margin then it is a bit meaningless. If they quarry one block they make no money on the day, if its 2 than the margin is infinite as the costs are the same!!
I would expect Chris to be selling per ton for what it costs to quarry per m3.

Harold I was not at the nex