Share Name Share Symbol Market Type Share ISIN Share Description
Fox Marble Holdings Plc LSE:FOX London Ordinary Share GB00B7LGG306 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 2.00 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
1.80 2.20 2.00 2.00 2.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 1.41 -2.30 -1.00 6
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.00 GBX

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Date Time Title Posts
11/9/202008:56FOX Marble1,103
11/6/201916:21THE FOX IS DEAD38
23/5/201812:18Fox Marble Interview & Q&A-
17/4/201814:39FOX MARBLE Interview-
29/3/201817:55Fox Marble: Mining and processing marble from Kosovo1,771

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Fox Marble Daily Update: Fox Marble Holdings Plc is listed in the Mining sector of the London Stock Exchange with ticker FOX. The last closing price for Fox Marble was 2p.
Fox Marble Holdings Plc has a 4 week average price of 1.95p and a 12 week average price of 1.63p.
The 1 year high share price is 4.05p while the 1 year low share price is currently 1.40p.
There are currently 308,372,214 shares in issue and the average daily traded volume is 133,483 shares. The market capitalisation of Fox Marble Holdings Plc is £6,167,444.28.
haroldthegreat: mind you the share price has risen since I mentioned coffee . what would have been the effect if I mentioned champagne . however long time shareholder cannot afford champagne . in looking back at earlier company reports I was appalled at the salaries being paid to the directors . prime minister got 198,661 check out Chris at that time . and the total paid to the board . when attending presentations in future I will ask the total boards annual salary payments including expenses.
woodstock17: Fox Marble eyes expansion as it hopes to turn a corner in 2020 Fox Marble is developing world-class marble deposits that have long lain idle in the Western Balkans. Despite an ongoing arbitration with the Kosovan government, initiated last year over its failure to protect Fox’ investments, the London-listed company is committed to the region and, according to CEO Chris Gilbert, has its eye on additional assets. The company’s history has been a chequered one. Since it listed on the London Stock Exchange’s AIM market in 2012, the share price reached highs of around GBX25.00 in June 2015, but since then has drifted lower and stood at just GBX2.35 as of February 14. With its marble processing factory close to the Kosovan capital Pristina up and running since 2017 and having expanded in 2018, Fox was close to turning the corner in 2019, when an attempt to take over its assets was launched. While Fox successfully fought off the attempt, disappointed with the local authorities’ failure to provide the support required under Kosovan law, the company launched a €195m international arbitration claim against the state of Kosovo in September 2019. “We [had] no choice but to do this, or we would not have been responsible custodians for our shareholders,” says Gilbert in a telephone interview with bne IntelliNews. He says the size of the claim was “robustly calculated on the basis of losses we have incurred and will continue to incur as result of the failure of the state to apply its own laws and regulations.” While the outcome of the case is still unclear, Gilbert notes previous investor-state actions in Kosovo such as the very similar claim successfully pursued by Devolli Group over an investment in the telecoms sector. Since Fox’s claim was filed, Kosovo has held a general election, in October 2019, and four months later the country finally has a new government, a coalition between the centre-left nationalist Vetevendosje and the Democratic League of Kosovo. Vetevendosje leader Albin Kurti took office as prime minister at the beginning of February. While noting that Kurti has never held office before, Gilbert says: “we believe in his approach, which is: we want to clean things up, we want to make Kosovo a place that’s attractive to foreign investors, and we want to be open for business. That’s going to serve us very well indeed … we are confident of our opportunity to pursue this claim and win something for our shareholders, who have been very patient and long-suffering.̶1; Committed to Kosovo Despite the litigation, Gilbert says, “we remain believers in what we doing in Kosovo. We are not retreating from Kosovo because the government have not behaved well.” He refers to the combination of “world-class marble in the ground doing nothing” coupled with an educated, willing, dynamic labour force in a country where the average monthly wage is just over €300. Margins in the marble business are “eye-watering”, says Gilbert. The industry is also highly fragmented, dominated by Italian, Greek and Turkish families, but with no single dominant company. The dimension stone business is worth around €16bn a year globally, but the turnover of the largest player, China’s Best Cheer, is just €300mn a year. As a result, says Gilbert, “accessing the industry is easy if you can find the resource.” A feature of the geology in Kosovo is that it is rich in natural resources such as lead and zinc as well as having a “vast quantity of very high quality, in demand marble which used to form the basis of a stone industry 100 years ago, but failed when the whole republic of Yugoslavia disintegrated after Tito's death. We came along and said we can do something with this,” says Gilbert. Fox Marble’s quarries in Kosovo and North Macedonia contain over 300mn cubic metres of premium quality marble and decorative stone. The region also benefits from good road links, a legacy of the post-war international reconstruction efforts, with most of the marble from Fox’s quarries shipped out from Durres in Albania or Thessaolinki in Greece. Kosovo is part of the Central European Free Trade Agreement (CEFTA), which has a trade agreement with the EU and various other jurisdictions, making it quick and transparent to transport marble across international borders. A sought-after resource White marble from a quarry close to Fox’s in North Macedonia was used to build the Sheik Zaid grand mosque in Abu Dhabi. Fox has established its own reference projects; notably its “grigio argento” marble, dark grey with a gold vein, from Kosovo was used by Berkeley Group’s St George division to fit out the bathrooms in its €15mn penthouses in Chelsea Creek to differentiate them from other apartments in the luxury Thames-side development. “This is a reference project for us. It demonstrates our marble not only can compete with Italian and Greek marble but actually, because we work in a very competitive labour zone, we are very competitive price-wise and our marble has found favour around the world as a consequence of that,” says Gilbert. Another line of business is that Fox’s factory is now processing for third-party quarry owners as it is the only modern factory in the region, with all Italian equipment: “The demand on us for processing is greater than our capacity to provide, which is a nice position to be in." Fox Marble's processing facility in Kosovo. Source: Fox Marble. Beyond the two asset strategy Gilbert is a serial entrepreneur who has come to the marble business after founding successful music companies. Last autumn, he beefed up Fox’s senior management with two important appointments: the company’s new senior adviser Don Nicolson, who has 26 years’ experience at BP and is a former chairman and interim CEO of Spain-based stone quarrying and processing company Levantina — “you couldn’t ask for a more heavyweight, experienced capable pair of hands,” says Gilbert — and Francisco Espinosa, also ex-Levantina, as chief operating officer. While Gilbert cannot disclose exactly what the firm is planning for 2020, he tells bne IntelliNews: “Broadly speaking, we are expansionist in our attitude. We plan to focus on our two-asset strategy to get to the position where we have turned the corner; this is part of our budgeting and planning over the next six to 12 months. In the meantime, we have our eye on some assets which we think can be money producers in Kosovo and North Macedonia.” He stresseds the amount of resource in the region "sitting there doing nothing”, and says the company is keen to develop the business beyond its current two-asset strategy focused on its Prilep quarry in North Macedonia and processing factory in Kosovo. He acknowledges the company’s “loyal and long-suffering shareholders” that have stuck with Fox over the years, and that it has taken longer than expected to make progress. “We have taken a long time to get to the position we are in at the moment — longer than we said we would. We put a lot of energy into it, and it wasn’t immediately visible, but [the results are] starting to flow through now,” he says. “This is a very high-margin business, in a very low-cost region. We estimated that our marble and our project is hugely desirable, and now we have reference projects to prove that. Our job now is to expand on the base that we’ve painstakingly built over time to create a profitable and successful business."
andy: gmac72, I totally agree, news is required here urgently. I'm amazed the share price is holding up so well to be honest. Interesting that there's no comments from Shareprophets, who have always been supportive of FOX over the years.
haroldthegreat: as there has been no effect on the share price ………;..
jaynesdad: I agree czar, it is the price being paid for the new shares which is the (absolutely only) brightspot of this update. That is properly odd. I can't imagine any institution would invest at near or above (yesterdays) share price given the content of todays RNS. However I would also point out that the city was persuaded to put significant mew money into Patisserie Valerie via a share issue after its shares were suspended and never saw those shares listed before PV collapsed into administration......
nitbhav06: Imo we will see serious upside next year once all the machinery is fully mobilised. We don't rely on Italy whatsoever now so this will reduce cost and increase margins. Our output should increase significantly and revenue will see serious uplift due to product mix (slabs and tiles). If China demand keeps increasing (which I am confident it will) then that's another catalyst for growth as is middle east. Marble market is expected to grow from $52bn to $65bn to 2025. If we were to capture even half a percent, that would equate to revenues of around $350m which is attainable in my view. If PAT is around $100m and pe ratio is 10. That suggests a $1bn market cap. Giving us a share price of around £5 (66x current market cap). It's worth the risk imo. The above doesn't include stone alliance. The potential is clear and I'd rather be in then sitting on the bench waiting.
pugugly: More dilution but looks like good for the bottom line with 40% royalty recovered but again conversion could be extra dilutive subject to the then share pricce - which imo will largely depend on the success or otherwise of increasing penetration of the polished/finished product market "As consideration for the acquisition Fox Marble has issued an Unsecured Convertible Loan Note ("Loan Note") in the amount of €1.785 million. Under the terms of the Loan Note, the holder may elect to convert at a conversion price of 130% of the 3 month volume weighted average share price. The Loan Note is repayable from the 1 October 2020. The Loan Note carries an interest rate of Libor plus 1.5% payable annually in arrears." Interest rate looks very reaonable but trust that CG has made provision in the Deed for the Libor replacement if the Loan note is still outstanding at the end of 2021
haroldthegreat: 11 miles tonight ! I will just have to put up with the visions of the fox empire growing ,the rns coming out in droves. the share price going up to what I paid for them . I might get locked up before I can get to the medication …. these visions could get me sectioned under the mental health act....
hector108: For devotees of the dark art of technical analysis or 'charting', the Fox price is at a critical point. Should it move through the present level on reasonable volume, then 16.5p should be easily attainable. In any event, the recent Beaufort write up and quite remarkable unsecured loan (especially given the relatively small shareholding of the director involved) both add substantial credibility to the strong buy case. Keep an eye on the chart!!
haroldthegreat: thank you caradog for the information . when it is introduced I will look out for cans to take to the large stores and supplement my income diminished by my fox shares. Andy this is the answer to all fox holders problems. if you pick up 3 recyclables at 5p it will make up the loss on each fox share held. Probably be better than waiting for a dividend. This is the Eureka moment, get rid of all rubbish aim shares in the portfolio and go on the prowl for recyclables with a deposit on them. When I was a kid one got money back on Corona bottles. Just remembered . Cannot remember the amount of the deposit though ? Any other senile fox shareholders know the answer ? have googled it and found Ajred on 2014-06-17 12:48:52 When we were kids in the sixties there was a large building site near us where we would play. The builders would just throw away their empty Corona bottles and we would spend hours searching for them so we could take them to the Corona lorry for a 3d refund. I think a bottle of Corona cost about 1/6d so 6 empties would result in a bottle. My mum would rarely buy Corona as it did not last long enough! BUT IS THIS CORRECT ? and more searching gives the sum today after inflation so 3d is just over 1p in todays money with inflation becomes Price then, price now Amount: (price then) £ s d 3d Year:1956 Calculate Result Result: £ 0.30 so my assumption becomes 1 bottle collected gives the same increase in wealth as buying a fox share at 20p and waiting 100years for it to reach 50p. However one must give a wealth warning with this scheme as if you drop the bottle you will not make any income from it ,but you will be better off than buying the fox share and seeing a 13p loss on it now. flaw in my argument is you will not be alive to see the return in 100 years time. Unless you wish to purchase Haroldthegreat long life pills at 100£ per month. Soon to be Aim listed . Remember aim shares held for 2 years are IHT free.
Fox Marble share price data is direct from the London Stock Exchange
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