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. 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.
This is pretty exciting. I believe I know the Aussie company that Eco Buildings have evolved from. These pre-fab housing businesses are largely recession-proof as demand is coming from both ends of the economic spectrum, from 2nd and 3rd world sovereign governments prioritising dealing with refugee crises, to higher end builders. Not only do we Fox shareholders now end up with a material part of a competitor in this growth industry but overnight, this puts the legacy Fox Marble business as a favoured supplier to it. Exciting possibilities.
Hope it comes off, happy holder here, current shareholders rewarded - not always the case.
6p cln, rto, Court case proceeds (if any) to those now locked in. Kibo and now here (nice lockins imo) my wres (not nice).
Approx 50% underwater here at mo.
AIMO ATB
Yes iceman, welcome aboard, you have to be right, it was a total surprise. Still haven't worked out why though! It can only be a good thing and I'm surprised there was no market reaction. I actually did a top-up on the news and now have my largest holding in share numbers. Mind at less than 2p a pop it's not difficult!
i have take a small position here this month. I have been looking at few arbitration proceedings and i think we have a good chance of winning. I dont have a legal backgroud. But just comparing few cases and looking at some of the people we have added. We have a very good team. For me the game changer was Sir Mark Lyall Grant.
https://tradingeconomics.com/kosovo/banks-balance-sheet
TT, many thanks for your thoughts and research that you have shared, they have been a great help in recent weeks, whilst I have been piecing together my research on FOX and taking my opening position, Cheers….S
Hi bloodninja, Bit of a dog I agree but not a total dog perhaps? I first bought in September '17 and sold out 2 years later when the then government and their regulatory bodies failed to intervene when the Malesheva incident occurred. I lost a couple of thou but not to disastrous and I said at the time that things were a bit to Wild West for me. I stated buying back in May '20 for the following reasons. I admired Chris Gilbert's tenaciousness - he just keeps swinging. A new more progressive government was elected. New experienced staff were taken on, the factory capacity was improved and the fundamental fact of good quality stone in a low cost environment was still valid. And of course Compo was a possibility. I like the way this has been funded and also the quality of our legal team seems good to me. Time will of course tell.
Covid-19 has been a major obstacle with the collapse of trade and travel. But given the fact that we're still trading, just I admit, we could even make it without any compo. Even if we netted a 10th of our claim we would be in a cracking position. This is I think a real gamble - woof! woof!
Fresh new low just appeared on the bid, the market clearly viewing this company as a total dog, as do I. Court case outcome keeps me interested and holding a bit, any meaningful settlement will rerate this in an instant. Until that potential outcome is realised figure it'll just drift down to cash shell value given business is rubbish
To break into profit we need to expand on the polished tiles and stones. This is starting to gain a little traction with the November Joint Venture RNS and coupled with the new contract and a new supply agreement with no minimum take-up. However we will need more firm contracts. In addition we need block sales of which there is a stony silence. (Sorry!)
The new NED is no lightweight and you would think he has more nous than to join a sinking ship. With the new factory machinery to come on stream we have more capacity and can process more factory orders. It's all up in the air at the moment.
its amazing and puzzling at the same time that these appointments take place however we havent made any profit yet and little insight as to exactly when this will happen.
the company ploughs on as though the future is rosey so we shall see whether this turns out to be the case, i wonder when the court case update will be given?
Interesting appointment. Obviously no Quarry/Stone experience so possibly more to do with the compensation negotiations which perhaps are reaching an interesting point? He may well have the authority to allow the company to directly negotiate?
I do appreciate the reluctance to gamble. But the current prognosis is about as good as it gets in the last year or so. There's a slew of small steps taken recently that could could start to convert into a stride or two when added together.
This could well be the bottom of both the SP and the MK of £5 Mill. Obviously I think the runes are good and I think with a bit of luck (block orders please!) and a following wind we will make it.
A bet yes, but no more at this time.
There were more buys than sells yesterday - I topped by £500 but no real money spent. I think there may be a realisation that (a) We're still trading and interest in the processed stone is ongoing and (b) we're still in with a shout at compo and (c)
at sub 1.5p a share we're a decent bet.
if fox sp does move its because someone knows something, happened many times before
., slowly but surely, wheres that 100 million yet. holding as no other choice anyway
going from strength to strength!! i've no idea now really what on earth this company is doing and whether it is going to survive or not. it seems to continue to deliver some sales but way short of a sustainable business, no idea really whats going on. holding at a huge loss for the day ! gla
These 2 agreements pretty much equal the whole of last years revenue. Not out of the woods by a long chalk but a positive start to this year plus new machinery on its way to increase capacity - roll on some block sales and this could be the start of something good!
1.575 trade was just reversed it appears, ever downwards this one goes. Still sticking around as if the court case gets settled for anything meaningful the sp will instantly rerate
ha ha. On balance that was my guess too!
SP just shot up to 1.575, either a glitch or something afoot? Settle of €195m case?
As of Friday the Baltic Dry is down to 1415. An encouraging drop over three weeks. My guess is that if there is a market for block marble then this lower transport cost will encourage buyers. Apparently the buyer views the block and selects the blocks they want and then the transportation costs are down to them. Not to certain how much block is already quarried and on site - probably not that much so the end of the winter break could be a factor here. Another factor is that although shipping rates are declining on major routes there is apparently still a bit of a container jam in some Chinese ports but these are probably also declining. Another consideration is that shipping from the Med to China will probably be not to expensive - but are the containers available?
An awful lot of variables but I think there's a promising situation for this quarrying season. As the effect of the Pandemic is perhaps reducing then this is I think a make or break year. If we can make it through this current quarrying season then we should be OK . Because we now have increased production facilities in the factory we now have two potentially important revenue streams. In turn this brings forward the possibility of the Stone Alliance coming to fruition. And that's without the Compo!!
Article re the above in todays Times. It is a measure of bulk shipping costs. Apparently on October the 7th it peaked at 5700. It appears to have halved in the last month or so and is now at 1570 which is as of February 2021.
This is in conjunction with both ships and containers starting to return to more normal patterns and less volatility. It would appear that the global supply chain is getting back on track.
This could be a real shot in the arm for FOX. I said last October that freight rates were the obstacle to block sales - not any more I feel. What we have is 1st class stone in a low cost environment. In addition the Joint Venture as announced on the 3rd of November has just become more viable. I've just done a couple of minor top-ups at the beginning of the week - feeling rather smug right now!
Blue day!!