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Thanks to you both for your info regarding what you both seem to be suggesting are questionable orders, from questionable companies.(Eboracum etc..) I would however feel more confident in your views if you were not both new members with only single issue negative posts about this company...? Are you short on this company or just concerned investors? Certainly you seem to have an agenda, and if that is simply to warn everybody else then thank you and regards....
Don't know why the link was removed. It is a press release from the insolvency service headed "High Court orders six more bogus multi-million pound companies into liquidation". It can be found on the official gov uk website.
I watched the last 2 interviews and noticed that CG became evasive and started to mumble when asked about the factory. It was supposed to be finished in June, then August, and the polishing line has been en route for so long that I doubt it ever left Italy. Meanwhile I googled the mysterious Eboracum. It is registered at 22 Wenlock Rd London. A search on that address pulled up this report: https://www.gov.uk/government/news/high-court-orders-six-more-bogus-multi-million-pound-companies-into-liquidation Conclusion: Eboracum is a scam, Fox Marble is a scam and CG is at best a dreamer.
Officially warned :) Let's talk again in the summer. It's been nice.
You can't see the problem? Well, you can't say you haven't been warned.
If they are paying up front for everything I can't really see the issue. If they don't take their full order fox aren't chasing money. Got about 9ks worth yesterday. It was hard to get any volume to buy. Will be back for some more today and then reevaluate next summer. There should be some good news flow coming.
It looks to me like most of their order book is through Banyan in Gibraltar, a company set up a few days before the order they made to Fox with no website no email address no offices and no money according to their filing at 31 December 2015, and Eboracum Marble a company set up a few days before they made their order with Fox with no website after it was taken down presumably as I pointed out that is was a copy of another company's, run by a director who still hasn't accounted by 100k of money went missing from his last venture (Jigsaw Leisure) that was forced in administration and who refuses to answer the liquidator's questions. Of course I guess we all are hoping that Eboracum and Banyan's orders fade into the background and are replaced by new orders: anyone remember Zhong from China?
spot on, dibs..difficult to imagine wot any of us ever saw here
I'm going to agree with you for a change Ctw! It's getting near the time where on risk/reward this could be the time to buy. Most of their order book is for processed marble, not blocks which is good. The factory is very close. We're not taking seasons or months anymore, it literally is weeks away. Once the factory is processing I can see the order book actually being fulfilled for a change. 4 million euro in processed marble sales a year with some block sales on top would see them break even at least. It's tempting to come back in on his one, put it in the isa and hold come what may.
Ostensibly he is a nice guy but utterly clueless and living in a bubble. It's NOT funny Chris. Too laid back and casual about it all. Needs a kick up the backside or let someone else who can galvanise things take over. Which all goes to prove how important GOOD management is to a company.
.. Which given delays is understandable, the fact remains that we can expect an RNS confirming completion of the factory very shortly, and that will give the sp a significant boost IMO. A lot of those who sold out because of doubts about completion will want to buy back in. The stone is being taken up by some very prestigious developers and whilst sales development has been slower than we would have all liked, it is getting there. This will go north and I don't intend to miss the boat. DYOR of course.
-2.6%.. Perhaps the markets didn't like the laughing from the CEO when the factory shambles were mentioned..
Will keep a watch on these and perhaps come back again when Management have found a sales force. If I was 20 years younger I would do it for them for a few free shares.
Based on half year earnings and market cap this is valued at a monumental 36 x earnings! Crazy! Drastically overvalued and huge amount of hope in the SP even at this level. No point in having mountains of marble if you are incapable of shifting it!
The 50,000 shares I sold before 8-30 am today is not showing. Tried unsuccessfully to offload others too. Very strange?
Taking part of salary in shares etc they are still burning cash at the rate of €250k pm! So a large chunk of the order book has to be converted to cash to get close to breakeven. Past experience shows they are not good at doing this - and that's going back two years now!
This site can’t be reached The webpage at http://www.eboracum-marble.co.uk/ might be temporarily down or it may have moved permanently to a new web address.
At the end of the day whilst sales for the half year are disappointing, we now have a very positive statement that the factory should be complete THIS MONTH and operational from next month. There are also some very significant new orders. There may have been no trades but the MMs have marked this UP this morning. Patience is all that is required in my view. Ok, quite a bit of that, but I think we could be about to turn the corner. The resignation of Jourdan is troubling though. Still I doubt he will want to sell at these prices.
No trades says it all. Market is numb to the dumb platitudes of Chris Gilbert. A man who has consistently proved that he is nothing more than a master of over promising and under delivering. Needs to go.
and showing 2.63% up... lol oh lol oh lol...
*Decision ... lol
It explains why it's not finished... "Resin and polishing lines are en route from Italy to Kosovo for installation this month;" No not carrying over mountains.... Worse... Didn't know how they were going to pay for it...Dicision now made perhaps it really will be on route.. BUT then again...
As before, no interesting news, sales have been 'disappointing', factory is 'behind where we wanted to be', etc, etc - basically, cutting through the flannel, it's been a poor 6 months. Furthermore, - "Our Cervenilla and Syrigane quarries remain open and operational. Quarrying activity can be increased immediately to respond to increases in demand." translates to me that they're open but not selling any of that marble at all and if we get an order, we can immediately respond!! Poor. Next 6 months crucial in seeing whether or not they will ever convert sales leads into cash. Finally, most worrying line, is that Paul Jourdan of Amati is stepping down and, unlike Etrur Albani who has said he will not sell, there is no reassuring line saying Paul Jourdan will remain an investor and that is a huge percentage of stock. Keep a very careful eye on PJ's share dealings in FOX now because if he's out, we should all follow this experienced player. GLA
Still on the watchlist. If everything is installed shortly an if they start processing their own stone and fulfilling these orders very quickly they may be okay. But my head tells me with 2.2 million on 31st august they will still need to raise more money.