Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Right choice for my sanity anyway.
Hallo exiledins, todays trades shows 1 buy and 2 sales so I am not too shocked actually! Fox was never going to be straight forward - start-up quarry in Kosovo = a stone cold certainty - I think not!
This is an AIM gamble:- you make your bets and you reap rewards or perhaps you lose the lot. However it was you that made the right decision, or perhaps, the wrong one.
Got out of this crap outfit for 12p (40% loss) said at the time I felt things were only getting worse. As far as i’m Concerned this is the most ineptly run business ever. Shockingly there were more people buying today - some people deserve what they get.
Charlie Munger and Warren Buffett have often argued that it's smart to "invest in a business any fool can run, because someday a fool will." I am genuinely starting to believe that Fox Marble challenges that entire hypothesis.
our interpretation of the information shared is different. truth is we really dont know what is taken place, the update reads along the lines this is a Fox decision but it may not be. they are obvioulsy working within other quaries and at some point this purchase was going to come up as a prior deal had obvioulsy been struck.
on esh point if the quarry ironically is seen t be worth far more then they are fighting back against a deal Fox say has already been set, maybe they will compromise, maybe everyone will sit tight.
as to sales, well chris has attempted to allay your comments around this being used to blame poor sales with his last statement, i welcome the work processed within it.
"In the meantime I anticipate that orders for our processed material from our factory will increase and we will update the market with growing sales of this higher margin part of our business."
granted processed sales from not much to something wont still be enough!!
Good idea re: the call. You seem to be one of the "eyes wide open" investors which is no bad thing.
All depends how long this drags on for I guess? The status quote is thry don’t buy the rights to the quarry and pay 20pc on profits in the future at males here. And they don’t buy out the hire purchase debt which in the grand scheme of things is negligible and will expire in a few years anyway.
I said back in April they could hit a snag if the share price drops below purchase value. As this is a related party transaction I would think this is still all about price. Malisheve is being far more successful than the company could have envisaged, it probably is worth substantially more than fox are paying whatever was agreed.
It’s worth another call to the company.
Well done for selling 40k worth of shares.
This company is a disaster IMHO. New all time low share price? Masses of debt they just won't be able to repay? IMHO those that say the company is in great shape can't read a balance sheet.
The nut-jobs are on here, not advfn BTW IMHO. It was on advfn that most of the, IMHO, suspicious stuff about the first china deal, Banyan, Eboracum, the "deal" in the US etc was first revealed.
I personally think this allows a way for Fox to release awful news on sales, as per usual, and then blame it on something.
Just as he blamed one set of awful results on Brexit(!). Let's see!
To go from the last interview dispute having no effect on production to now stopping production temporarily.
Is this a way of tightening the screws for fox to say go through with the deal or get no commision ever and no money if we don't produce or is it the other way round and they have been stopped?
I sold 40k's worth of shares a few weeks ago as a hedge but still have agood chunk in here so I hope it's a negotiating tactic. Expect the share price to get smashed today!
On another note this was on the advfn board over a week ago. I thought it was some nut job. How did they know?