London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
On a brighter note work is still progressing well.
Hi NotMuch , I intend to email Fox re this. However the only sales contact I could see on the website for the UK was Beverley at Fox itself. Could you give me a steer please?
Just like Pisani went into administration.
They tried the distributor model and it just didn’t work. In hindsight they would and should have done something different.
82 St. John Street
Phone: +44 (0) 7510 125 593
Still listed on the website as UK distribution partner! Dissolved last Dec with £1 in assets, for failing to submit accounts.
Now I’m the guy who doesn’t sell, sits and can average down but has also learnt his lesson. I’m 70% down, about 1.1 million shares so what’s that, 8 pence ish and I’ll break even. Never realised a loss on this share infact over the years bought and sold on fox and made some cash.
The % loss doesn’t worry me, it can shift this amount in three days on AIM if something huge comes out, skill is in how much you average down or not? Point at which to sell when going well and catch the upswing of which I’ve got a lot better at.
It can increase a lot based on nothing and all of a sudden you go blue, I sold some AGM the other month, sitting 60% down and all of a sudden sold for 25% increase.
It’s getting the sound business, non so dodgy directors that will admin the business, won’t dilute for their own benefit to hell and basically retain some value for all of which fox historically seems to show its overall still doing this. I guess the other positive note is based on age I have the time, I de risk the portfolio over time and this is now my most high risk share which I don’t actually think is that bad. 25 pence and I’ll be happy gla
You did better than me. I took a 25% hit and sold everything around 6p and then waited to repurchase.
I guess to recover those losses I need a 33% price increase, so around 2.6p to break even overall on my fox share transactions.
How will the market take the trading update and full year report? Not sure, but next year is going to be very good for us shareholders.
It's strange how things work out. August '19 I sold out because I was concerned about the legal situation and the lack of government support. I pretty much broke even at 8.4 a share. However next month, in September, Fox issued an RNS which gave a bit of background and clarified it was only the Malesheva quarry affected. In September they also announced the appointments of Don Nicolson and Francisco Espinosa . I thought "hang about these seem pretty high powered kind of guys - so what's going on?"
I kept up to date with events because I have a bit of faith in CG and it soon became clear that Fox were in fact progressing quite well and may have reached the point where they were becoming viable. I therefore started re-purchasing and as a bonus at a quarter of what I sold at! There is obviously still a risk but it is now greatly reduced.
My point is that I am now in a far better position than I was last year and it is entirely fortuitous. No real skill involved - just a bit of luck and research. You never know what's around the corner folks!
Well you guys are super cool and confident going forward which is nice to read. That's a good chunk of shares bought for a smallish sum especially in compassion to some of the prices I paid when 10p downwards. I'll happily hold, it's my big risk, big potential share now which is fine by me. I'd like 15 p by 2021, that would put me into a good growth area but as I get into the 40s I like the divi idea now! Feels nice and rewarding so a good, 10% plus bonus share buy back would be good by 2022, I have time to want a few more years! Good luck guys
I might have to start calling this company Pringle! - once you Top you just can't stop! Looking at the MC and the dilution situation I've done a final top up at 2.19p. I now have some 400k which if the shares go to 400 Mill gives me a 1/1000 part of the company. At around a cost of £8k this is easily my biggest proportion of ownership and I'm feeling pretty smug!
One of the reasons for this is CG. I remember some years ago when the factory delivery was delayed he was getting a lot of flak but he just kept going. Perseverance is a big quality. At that time there was also a bit of opaqueness with block orders
and contracts that he was also getting stick about. However, as he said in the presentation, if the block customer doesn't turn up at the quarry you're stuck. Now we have a much stronger and more professional management team he can get on with running the company which I think he's good at.
All good stuff so far. Is there a possibility of breakeven this year? I don't think so but with the bulk of the three existing projects to come next year then if we get another contract or two we could do it.
I’m looking forward to the updates as well.
The presentation said the third party processing agreements could be worth 1.5 million euros. And there are a myriad of undisclosed orders from a value of a few hundred euros to 50,000 euros. It all helps.
If block sales are close to kicking in maybe a surge in h2 sales will see the company break even this year. It’s going to be interesting.
By the way I did ask fox marble about the waste marble and whether it could be commercialised for cement aggregate or landscaping supplies.
Unfortunately not at this time as the companies that specialise in taking the waste are all based in Greece, Italy and Turkey. As the waste is only worth $10 or less per tonne it costs more than that to ship to those territories.
With high wages being paid for in shares dilution will happen anyway . However share buy-back is a possibility from the current litigation so a bit of mitigation there perhaps. The only other thing we can do is a top-up with the intention of selling into a rising SP at some point and at around 2p a pop it could be a real bargain. However the massive potential of Fox with both the litigation and Stone Alliance to boost things make this a real growth stock.
More immediate is the full year and half year reports due almost simultaneously which must be some sort of record plus of course the possibility of an update on H2 as well! Full year is probably a non-event now as to much water has gone under the bridge but H1 will be interesting and an update on H2 even more so. H1 will be positive I think because of the project sales. As CG said if a block purchaser doesn't re-order you're stuffed while the project contracts are ongoing once started.
Interesting times ahead in my book and activity in several different arrears. Looking forward to the next town square contract.
I think you said a while ago you think this may go to 400 million shares from 300 million.
I still can’t see a better investment in any company out there for the risk involved.
I did think of another question to ask when the interview had finished. I’m going to email fox and see if they can answer it. It’s regarding the waste marble from the factory and if they can sell it for cement aggregate or something else.
I think I read on the slides the new quarry will be on the same terms negotiated on previous quarries, I hope they don’t dilute more and more which is their form and reward with huge share numbers to themselves??
I think there was some interesting stuff in there and the questions and answers provided some very good information, especially Truro’s questions about the factory capacity and new quarries. Really good questions.
So block sales are still not happening but soon. I think Chris and the managements feeling is there will be a rush to restock marble soon so they need to get back in the quarries and get stocK on hand.
The factory is going to be a real money spinner going forward and very easy and cheap to incrementally upgrade it. Chris using 35 euros a square meter for processed material minimum is a good base line for what the factory can achieve. Over 5 million euros per annum at current capacity and 8 million per annum with a small upgrade in equipment. Throw on block sales from north Macedonia on top and it’s looking good.
Fox looking at another Selene site was news to me. My thoughts now are I wonder what the terms will be with the licence holder? Will it take another 3 years to make it a commercial enterprise? Losing the malesheve quarry set the company back massively, the kosovan government should have to pay handsomely for that.
My other thought was they want to spend money on capital equipment for the factory, more money on capital equipment to double block production in prilep and more money developing a green site Selene quarry. Does that mean imminent dilution into any share price rise?
I have no doubt next year the company will be profitable but I don’t want to be diluted until then through management fees and equity raising, especially when I believe the share price will be over 6p by the end of next year.
I watched it live and listened to all the questions. A good update, 2 million new orders during covid was positive, need revenue of more than 3 million to break even so 2021.
I note the directors haven't reduced their fees during covid just deferred so there's a bit of me annoyed, frustrated with the timeframes involved, no doubt more shares given to directors and in the next 18 months they'll all swell their own holdings until the company takes off. On the one hand good as directors take shares however it comes across as doing everything they can and doing the company a favour where actually like many AIM companies the directors are always last to suffer.
New quarries good, India delayed two years, block sales coming back, expect to win the case. Nothing really new, some answers to the questions Chris gave theoretical numbers which then in many ways it became pointless in therefore answering! Just getting impatient in holding and listening now to the same story, I won't sell, just boring
Excellent. CG was able to show the growth and opportunities available. He was able to look ahead with much more certainty than has often been the case in the past - for those of us who remember the unfortunate delays of a few years ago. Very very pleased I bought back in!!
Anyone tuning in for the presentation later?
Re my inability to access the latest mini brochure. I used the c0ntact email form. Go to "Contact & Sales" and scroll to the bottom. Got a reply within a matter of hours apologizing , attaching a PDF and thanking me for bringing it to their attention. It came from 160 Camden High St from Executive Assistant Lydia Knyvett.
I have replied with a thank you for such a positive and efficient service - far better than any other companies I have invested in.
I have never tried accessing it as I thought you would have to be a genuine buyer so not sure on that.
I just wondered if in this age of social distancing where buyers will be unable to come from India or China if they could buy blocks remotely?
I know cameras don’t always do colours justice but if they had a online catalogue with pictures and dimensions it might be possible.
I think I’m getting to the same stage as you Truro. I would like some hard numbers, but good news they are back quarrying and feel they need the stock.
Hi eshaitan, Thought I'd have a look at the website but I couldn't access the mini brochure re block sales. I will try later in case it was my error. I was wondering if anybody else has had the same problem? If I fail again I intend to report this by emailing the company using the standard contact form as on their website.
That might be another question I will ask for this Thursday.
On the fox marble website there is a login for block sales, but fox have to provide the password. Is it possible for existing customers in China to purchase marble blocks by viewing photos only and negotiating a price?
I can’t see any Chinese buyer flying over. Even with the relaxation of flights a couple of days ago the quarantine requirements are still onerous.
Good post unvrkw, Chinese activity is good for world trade ( Like it or not! ) Big Infrastructure spending in China could either directly or indirectly include Marble - a good straw in the wind.
y. Stock image.
Iron ore prices hit six-and-a-half year highs on Thursday as the Chinese construction and manufacturing sector experiences levels of activity last seen almost a decade ago.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $129.92 a tonne on Tuesday, up 2.1% on the day.
SIGN UP FOR THE IRON ORE DIGEST
That was the highest level for the steelmaking raw material since mid-January 2014 and brings gains for 2020 to over 40%.
Source: Capital Economics
A key gauge of economic activity in China – responsible for more than half the world’s steel output and 70% of seaborne iron ore imports – released this week showed rapid expansion of the country’s manufacturing and construction sector in August.
The Caixin manufacturing PMI index rose from 52.8 in July to 53.1 in August, well above analysts’ expectations, which were headed for a decline during what is usually a slow month for industrial production.
A reading above 50 indicates expansion, and August’s numbers were the highest since January 2011.
While the official PMIs released by the Chinese government showed a slight drop in activity, the Caixin index is usually seen as a more reliable gauge as the survey covers a greater number of private and smaller companies than Beijing’s measure, skewed towards state-owned enterprises.
Rest of the world catching up
Capital Economics notes that the export orders component of the manufacturing PMI rose above 50 for the first time this year on the back of recovering foreign demand.
The London-based research company says this suggests that foreign demand is now beginning to catch up to Chinese domestic demand and hints at a further acceleration in export growth in the coming months.
While China’s factories are humming, spending on infrastructure has rocketed.
Since the outbreak of the pandemic, authorities have issued 4.75 trillion yuan ($683 billion) in local and national debt with most of that earmarked for infrastructure projects, lifting construction PMI’s above 60.