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Bit of a mixed bag. Fox seem to be doing the best they can. Travel and shipping restrictions are a real problem. Can't see the present processed marble production getting us into any meaningful profit on It's own. Block sale are the key/cake here with factory production being more the icing. I suppose It's steady as she goes at the moment. Just hope the 1.5 Mill Loan Note gets sorted - don't want any more 9% interest rates!!
One puzzlement. QC Simon Nesbit (announced in March) not mentioned. Is QC Samuel Wordsworth (announced in May) "instead of" or as "well as"? At a guess - instead of?
Looks like they are on serious trouble with no block sales and only small processing orders. Very little cash left too
Hi brainspark, a little pessimistic there I think. The total production orders are not small. Following figures in Euros from the Chairman's Statement. A total of 4 contracts worth 2.33 Mill. Delivered in 2020 - 44.K. To come this year 1.87 Mill. Our best year was '19 when we did 1.41 Mill! You would think by June/July we would be getting some sort of income from those contracts and we had 4k at the end of May. Tight yes - seriously tight - no.
We are in cost cutting mode and if get some Block sales, which are paid for at the quarry gate with transport costs to the customer then we could get close to break even? This is the first time we have had meaningful production revenue and therefore two potential revenue streams. I haven't actually worked out he ratio of our new production capacity to the actual orders but it's probably not a deal breaker if we can't produce all the requirements before the winter installation shut down.
As I briefly mentioned in my posting of the 7th I think Fox has a real problem with block sales because of the world shipping problem. The BBC news sight has a story re container freight rates that are some 4/5/6 times the usual cost. In particular South China is badly effected and they are an important market for us. There are long waiting times to load and unload which are dragging on. The cause is that Covid clogged things up originally because of slow loading/unloading and then the upsurge in orders caught out the unavailability of empty containers because they were in the wrong place. The recent Suez blockage didn't help.
The winter quarry shutdown means that we can't actually quarry but if there's room perhaps block could be at least stored and perhaps even be shipped in the winter? Looks as if you had a good point re block sales brainspark!
Big sale at 1.65, 2.5mil.
Looks like someone has had enough waiting.
Constant sells, not surprising SP performance is a POS. Binary play for court case here IMO, market thinks the company is a dog
they'll probably struggle full stop no in post covid and maybe with us going back into covid. the containers as you say have gone through the roof, its was always very challenging let alone now. in most cases they'll fold and then buy back for a £1, loose no value themselves and off they go. your either holding with a loss in my case and hopping for the court case or i guess in nearly every case getting rid to have some cash
Dog sh 1 t share price performance, company irrelevant really with transformational value potentially deliverable from court case which seems to have big resources dedicated to it as I recall
CG needs to be taken to court for all his false promises
1.60 bid support just tumbled, more proof market considers this company a total dog. Only play here that's worth anything whatsoever is the court case, binary play, company is a POS otherwise.