Fox Marble Share Discussion Threads

[andy] 19/12/2016 12:47

Dhlindy1,

"I am struggling to understand what the announcement re the Stone Alliance Venture might mean for the company."

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You're not the only one!

Lack of sales is the issue, not raising money for other quarries.

I think that announcement just muddies the waters a little, maybe done to take the focus away form the current lack of sales, and the viability of the current orders on their order book.

[gnnmartin] 19/12/2016 12:30

I appreciated your post, thanks. My history with Fox is much the same as yours (but without the site visit).

[dhlindy1] 19/12/2016 12:19

I first invested in Oct 15 with additions through to Dec 15 then I have bought again this year on 22/11 and 13/12. I am now at the limit of what I want to invest/have at risk in Fox.

I hadn't posted here previously since I had nothing particular to share. I simply thought my trip out to Kosovo would be of interest. If it isn't then no problem and in any event what I was able to say got rather overtaken by their RNS.

I can't add anything much more other than to join fellow shareholders and wait for sales info though I do not expect any meaningful news on this until some time in second half of next year.

I am struggling to understand what the announcement re the Stone Alliance Venture might mean for the company.

[haroldthegreat] 18/12/2016 20:10

dhlindy1,may i ask with previous problem companies why didnt you post something previously ? at least you are optimistic of their prospects. when did you first invest in the company ?

[andy] 15/12/2016 08:43

luafc,

Agreed, why not combine the two news releases?

Maybe they wanted to get the bad news out of the way first, let the price drop, then introduce this news?

The lack of sales probably allows them to 'open' as they can commence with minimum hardware in place.

[luafc] 15/12/2016 08:00

Odd timing coming just 2 days after the prior RNS.

[wolstencroft] 15/12/2016 05:40

Of more concern to me than lack of orders is that time and time again orders disappear. No one cares that millions in orders made by brand new companies with no presence website offices or email then disappear. No RNS. No explanation.

[dhlindy1] 14/12/2016 17:55

Andy I agree sales are critical as I said in my earlier post.
I do not agree your comment about the cost of staffing up the factory. It is essentially a fully mechanized and computer controlled system. Also labour costs in Kosovo are very low - as are most other costs

[andy] 14/12/2016 17:18

dhlindy1,

There's no need to hop on a plane,the issues here for me are the lack of orders, and the almost total lack of sales!

Euro 600,000 in a whole year?

Even if the factory is ready, they need confirmed sales rather than orders,and when they staff up the factory their costs will increase as they will have workers' wages to pay, regardless of the amount of sales!

So in the short term fixed costs will rise.

[czar] 14/12/2016 17:02

Let us hope that they can actually say before the end of the year that the factory is finished and producing, I see that as the start point for this adventure.

[dhlindy1] 14/12/2016 16:53

I fully understand the comments below. Clearly sales are critical and we have been disappointed too often. I have held for a co,upper of years and normally I post on lSE. I posted before making the trip.

I would guess that Fox have had to be very careful with cash and by paying for the equipment with marble they will have been at the mercy of the Italians who would decide when they shipped the kit and or when they turned up to install. The Italian installers were on site when I visited though the Fox manager was concerned about how much work they do do over the festive season.

As I say I understand the concerns expressed and it comes down to sales. If you are invested and don't believe me then why not do what I did and hop on an Easyjet flight. Hotel and daily costs in Kosovo are very cheap.

[juleshoddy] 14/12/2016 15:25

this is more a teabagger than a tenbagger ATM. Holding and waiting. thankfully only a small speculative buy for me so not worried about delays. Could be fabulous if they ever get sales though. Decent sales.

[czar] 14/12/2016 14:34

Fox must get good customers ordering from all over the World in 2017, we all know that, and if they do we are on a tenbagger, if they don't......

[czar] 14/12/2016 12:24

Andy agreed I don't know who this guy is but this is what I should have done. I hope he is genuine and I'm prepared to give him the benefit of the doubt.

[andy] 14/12/2016 11:05

czar,

Why would a fully built factory mean "sales will follow"?

They have been producing and selling marble for years, just not very well! They have been having their raw marble processed in Italy, so there has not been a shortage of supply!

They have announced large orders, but actual sales are dismal, and the status of the companies making those orders is in some doubt, IMHO.

People have been "patient" here since 2012! At that time the factory was "months away from completion, and fully funded"!

Four years later we seem to be in the same position,albeit with machinery actually on site.

I'm impressed you're buying shares on the back of a report from an anonymous BB poster who has never posted on the FOX thread before.

[andy] 14/12/2016 10:38

dhlindy1,

"The operation manager suggested that it was difficult to sell unless they could reassure the customer they could deliver and that once production is underway it will be easier to sell"

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But they have been processing marble in Italy, via a toll processing facility, so they have been able to deliver, that statement doesn't make sense to me.

I would suggest that's an excuse for lack of orders to date personally.

[andy] 14/12/2016 10:18

Just listened to Tom's latest bearcast, and even he's "disappointed" with this latest RNS,and admits "I may have got it wrong"!

He's always been supportive in the past, even when we have been critical, and could see the red flags that he couldn't.

I wonder if we may yet see his investigative team looking more closely at Banyan, and Eboracum?

Fox are still carrying orders on their books from these two entities, Banyan were registered as a company in Gibraltar just 5 days before placing a large order with FOX, for example.

Just Euro 600,000 sales in one year!

Wow! And no mention of how much is attributed to Banyan, nor Eboracum!

[caradog] 14/12/2016 09:53

This is all very suspect. This is what the company said 3 months ago:

"The Company’s factory is nearing completion, with two eighty-blade block-processing gang saws installed, the block yard is prepared and the two gantry cranes are operational. The resin and polishing lines are en route from Italy to Kosovo for installation this month. The power and water to supply the processing plant are already in place. Subject to successful installation and commissioning of the balance of the equipment, the Company anticipates processing marble in- house during October 2016"

And so, according to dhlindy, the third saw is still in bits and resin/polishing equipment won't by fully functional until February. And all this time a team of Italian engineers is on site?

Perhaps the problem is that the equipment is, at least in part, being paid for in kind with €500,000 of cut marble and the Italians are making sure that they are being paid before signing off on the finished processing plant?

What other plausible explanation could there be, apart from the obvious one that someone is being economical with the truth?

[lord gnome] 14/12/2016 09:52

Thanks dhlindy. A super report. It's not often that a poster goes to such lengths to ascertain the situation with a company. I have watched FOX since flotation, but resisted the temptation to invest and subsequently been very happy that I didn't Perhaps now is the time to put it back on the watch list. One for 2017 I think.

[wolstencroft] 14/12/2016 09:46

dhlindy it's all about sales. everything else, factory included, is a sideshow.

[dhlindy1] 13/12/2016 20:39

Having been burnt with Globo and Camkids I had been getting nervous about fox. I like the story but like many I have been frustrated by the lack of progress. I find some of the non evidence based Willy waving on here unhelpful to say the least so I eventually decided to take the advice that is often posted but rarely followed.DYOR! I booked a cheap Easyjet flight from Geneva to Pristina and contacted Fox ( live in Switzerland). Fox were really positive and welcoming and encouraged me to visit.

The local manager collected me from my hotel this morning and drove us (me plus my wife)to visit two quarries and the factory. The local staff are very upbeat, the quarries were busy and there is a good quantity of block marble cut and ready on site. From the open faces I saw there would appear to be plenty of marble in the ground.

The factory certainly exists and the kit for the processing of the blocks is in situ. One cutting machine was operating during our visit. A second machine was largely assembled but not operating and a third was in bits waiting assembly. Dedicated powers and water supplies were in place supplemented by a new water recycling plant so that the cooling water gets filtered and recirculated with little waste.

The resin and polishing lines were in situ but not fully installed. A team of Italian engineers were doing the installation which they said would be completed in days but with the programming of the computer controls taking somewhat longer than the physical assembly. They suggested a month to complete but I thought they were being optimistic and that end Feb might be more likely! Whatever there is no reason for the line not to be operational in 2017.
The local staff are positive and enthusiastic. For my part I am mightily reassured. However that still leaves the question of sales. The operation manager suggested that it was difficult to sell unless they could reassure the customer they could deliver and that once production is underway it will be easier to sell. That seemed to me to be a fair point. He added that they had recently had 10 different Chinese buyers visiting.

So having done my research I have concluded that now would be a crazy time to sell and have today upped my holding by 30%. As everyone says DYOR!!!

[apfindley] 13/12/2016 09:29

Very disappointing update.I was hoping to be back in here sometime but that's unlikely for now.A lot was promised several years ago and I fail to see how revenues can be so small for the size of operation and size of asset they have.12mill market cap, for these figures is way too high. They're not converting orders at anywhere near the rate and volume they need to.I'll continue to watch but those still holding must be a bit annoyed at the slow progress. At least cash balance is healthy for now.

[andy] 13/12/2016 09:04

czar,

"lost a year"?

You obviously didn't hear the presentations in 2012 then?


Glenn,

It'll be positive as usual! They never criticise FOX.