Fox Marble Share Discussion Threads

[pugugly] 11/5/2020 10:54

Up 100% - Gamblers? or News Leaking - Could this be a pump & dump operation - If so anyone seen the pump? Or a weekend tip somewhere? If the latter wait for the stop losses to kick in - (imo)

[haroldthegreat] 10/5/2020 00:09

hi Andy I am awaiting Cairn settlement with India. I do not think I will live to see either .

[andy] 09/5/2020 23:57

Harold,


To be fair Tom did ask him some of the awkward questions, and I thought it a good interview, which surprised me. Given we know that Tom has been supportive of FOX in the past, I thought it would be like a VOX Markets ego massaging affair, with soft questions arranged in advance.



When Tom Asked CG about the recent "troubles in Kosovo" I didn't feel it was made clear they had lost access to their Kosovan quarries, as he kept referring to their North Macedonian one. CG focused on the fact that the government appear to have broken their own rules/laws.


CG said they had applied to have the case heard by an international tribunal. He then went on to confirm that under Kosovan law, FOX, as the injured party, could elect where the tribunal would be heard, and they have (wisely IMO) chosen London!


The hearing will take around a year before it's heard, and the claim, for euro 195 million, would be significant for a company with a £4 million market cap. CG did admit the final settlement, if FOX win of course, was likely to be "smaller", but even so would be very significant.


Tom asked him about how the settlement could be enforced, and CG replied that Kosovo recently paid a euro 30 million claim, so they have history of settlement.


Clearly if FOX were to win the tribunal, it would be very significant for a company of FOX' size, so to a large degree they are a play on the case rather than this year's trading, IMHO.

.

[haroldthegreat] 08/5/2020 21:15

run by tom who never sees a problem with this company . perhaps he needs to see an optician . diabetics should have regular eye check ups .

[shares_investor] 08/5/2020 15:29

Fox Marble is presenting online tomorrow which may be of interest to those here -

[andy] 21/4/2020 00:03

They announced an order on the 14th April for a decent size, and still the price languishes.


I notice the use of the word "expected" in the text of the RNS, so not a given, and to be spread over a year, with covid delaying the start, and once again no mention of margins.

[kaos3] 03/4/2020 09:22

I hate to say it ......

[andy] 03/4/2020 09:10

Pug,


"and the Board will not take any salary or fees until operations resume. Head Office staff in London are on government furlough, as we work to retain our hard working and committed team"

-------

Well they're doing the right thing,IMO, BOD not taking any salary or fees. (other AIM companies take note!)


I guess you're right, if they needed a placing they would be hard pressed to do it above 1p in this environment, the subsequent dilution would trash existing shareholders' value.


So, instead of raising, they're sitting it out.

[pugugly] 03/4/2020 07:40

Cash must be getting very short.

[pugugly] 26/3/2020 07:27

Yet another problem - Could this be the killer?
Coronavirus row helps topple Kosovo government

[pugugly] 23/3/2020 15:05

All time low just hit 74K dumped at 1.7p

[andy] 19/3/2020 08:01

Pug,


Why on earth would you be considering buying this share given its history and, IMO, lack of candour?


They have never had any decent sized sales of polished and finished product, where the real revenue is, according to CG in his 2012 presentation.


They have sold unfinished blocks, where the margin is poor, and now are toll milling for others as they seem to have lost control over some of their quarries!

What's not to like?

[pugugly] 18/3/2020 18:53

Some capitulation 500,000 dumped at 1.5p - Brave MM to take unless a put-through with the matching trade tomorrow - Watching but not biting having been badly bitten last year.

[pugugly] 11/3/2020 08:30

890 MALWARE -

[andy] 11/3/2020 03:37

Pug,


it's the financial detail such as margins that's always missing here, FOX are the kings of onfuscation, IMO.


I see their focus is switching to polished marble, why did it take so long?

[pugugly] 10/3/2020 07:37

OPERATING UPDATE published.



Sales for the year ended 31 December 2019 of €1.4 million, (2018 - €1.4million)

· Production for the year ended 31 December 2019 of 14,515 tonnes (2018 - 12,561 tonnes) with production in Prilep of 11,547 tonnes (2018 - 5,803 tonnes)

Also from the update
"The Cervenillë and Syrigane quarries in Kosovo - sources respectively of our Argento Grigio, Rosso Cait and Breccia marbles are open, with machinery on site and ready for deployment. At present quarry teams are not on site, as the Company has a significant reserve of material in stock, "

OR TO PUT IT ANOTHER WAY-= Our sales team have not had as much success as planned so we have a yard full of surplus stock - To use an analogy to FMCG retailer

However from the June interims
Production in the six months to 30 June 2019 rose 74% to 9,529 tonnes from 5,473 tonnes in 2018. Operating loss for the six months to 30 June 2019 of EUR0.7 million (six months to 30 June 2018: EUR1.0 million) -- Loss for the six months to 30 June 2019 of EUR0.8 million (six months to 30 June 2018: EUR0.8 million)


So 2nd half production only 2,000 odd tonnes -

Nothing about cash burn - current free cash balance - save standard boiler plate "The Company continues to tightly manage its working capital."

So (imo) by omission suggestion is still significanly loss making. Might it require a further infusion of cash? Plus of course the standard COVID-19 reference - very valid due to shut down in much of China.

No news on progress on. or timelines for, arbitration and claim against Green Power Sh.pk for breach of contract and damages, save to note still active.

[andy] 26/2/2020 23:54

Harold,

Yes but it's in the next country, quite a hike to the processing plant......

[gtfc1] 25/2/2020 17:48

We own the rights to quarries, little difference if it can’t be challenged

[haroldthegreat] 25/2/2020 12:47

do we own a quarry or not ?

[gtfc1] 25/2/2020 06:52

Dilution is the big watch out now against the strategy which is six years late. Better to have one than not and there is wording that suggests they now appreciate costs and negotiation differently. Close shave however against being too annoyed at the change and the business folding. We’ve now got expansion labelled, suggest Chris wants some decent 2020 numbers to put with 2019 when announced to show progress. If they don’t dilute, survive 2020, open another quarry and break even we will be doing very well

[pugugly] 24/2/2020 11:09

Strategy Update: If this was a boxing match equivalent to "throwing in the towel in respect of breaking into the world market for finished slabs (imo)"

The major problems amongst others for those invested or thinking of investing are:-
*How much more capital will they need
*When will they reach cash flow break-even
*How much unrestricted cash do they have for capital expenditure
*If they have to raise more funds how dilutive will it be (Only need to look at the some 30% discount inflicted by the market on PHC today to suspect might be well under 2p and then a share consolidation (imo)

Also - Possible reinforced RED FLAG No mention of, or timeline for, arbitation.

[glennborthwick] 21/2/2020 13:51

hi andy
you still in any gold or oilers. Ive done ridiculously well on TXP this year, not so well on Trin.

Just bought into HUM and GDP who are worth a look. Lots of their forecasts are based on gold price of $1400 dollars and its currently at 1630 so they should be raking it in.

[andy] 21/2/2020 08:21

Pug,


Thanks, and yes I notice he started in the early hours to try and ensure at least some were read before ADVFN will probably delete them. Surely there is some software they can use to prevent either people or bots from flooding the board like this?


Re the downticks, there is one incredibly sad individual with nothing better to do with his time that follows my posts around and downticks them, regardless of the post content, or thread. I genuinely feel sorry for that person, their life must be very empty.....


Have a great weekend yourself.