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Shut it D*g face.
https://m.youtube.com/watch?v=CeNuieBCrkg
Sorry - CG every time.
So. A new one post wonder. Hope Dentons and Samuel Wordsworth don't read the post!! They might do runners! While I know the UK press can get it wrong, I have absolute faith in the credibility of the Kosovo press!
To be slightly more serious, if skullduggery is involved who would I trust the most - CG or the previous Kosovo Government?
CG evert time.
https://ibb.co/4fGVphr
Translation: Me qira = To let
Signatures were forged to illegally transfer quarries to Fox Marble and the quarry sites are now seized to prevent further use. Here is major Kosovo news article with link at bottom to the Injunction & Seizure order given by Kosovo judge against Chris Gilbert and Fox Marble. With these quarry seizures, Fox Marble is a nothing in Kosovo.
News article with link at bottom:
https://www.epokaere.com/kosova-mund-ti-shpetoje-195-milione-euro-nga-arbitrazhi-nderkombetar/
Court Injuction and seizure order:
https://www.epokaere.com/wp-content/uploads/2021/07/Court-injunction-and-seizure-order.pdf
English translated Kosovo news article:
https://www-epokaere-com.translate.goog/kosova-mund-ti-shpetoje-195-milione-euro-nga-arbitrazhi-nderkombetar/?_x_tr_sl=sq&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=ajax,nv,elem
Translation of Court Injunction and seizure order:
VERDICT The proposal of the insurance proposer Rexhep Shaqiri is approved as grounded ... the security measure is set ... this security measure enters into force immediately
…your money and run. Any licensing agreement that has been granted by previous crooks that run Kosovo government and possibly got bribed will most probably be prosecuted. Some operational authorisation that was granted seems it has been forged , initial graphological analysis suggests that. The court is investigating and currently the police are carrying orders from the court making sure no work is carried out.
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.
CG needs to be taken to court for all his false promises
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
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
Constant sells, not surprising SP performance is a POS. Binary play for court case here IMO, market thinks the company is a dog
Big sale at 1.65, 2.5mil.
Looks like someone has had enough waiting.
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!
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.
Looks like they are on serious trouble with no block sales and only small processing orders. Very little cash left too
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?
I think your comments are spot on TT. As you say Wordsworth is top notch. He is experienced in international and inter government arbitration.
Things are warming up.
Hi dactions, One of the reasons I originally bought in some 3 years ago was the environment of a low cost operation with high quality stone. I chickened out when the previous government failed to back Fox and sold out. I said at the time it was to wild west for me!
However with the governmental change I reappraised the situation. I started buying back in because I admired the way that CG just keeps on going and my original reason for buying was still the same. Now that Fox has a credible operation with a proven ability to deliver an economical production of high quality stone I'm sure he is still focused on the business.
There is now a real possibility of success anyway without the compo, but, with an MC of 7 Mill what would any compo do for the sp? This could be a biggy!
TruroTrader - just as I posted on another thread earlier - I realised that today's announcement now made it two QCs appointed. Andi agree with you that it's stated elsewhere on the internet, that they need to appoint an Arbitration Panelist - perhaps one of the QCs will act the part.
I hope they can get a move on now with this process. It must be dominating Chris Gilbert's thinking when he'll be better used in promoting new contracts/sales.
This new appointment rally raises the ante. Both Wordsworth and Nesbit are top barristers in their field. By taking on Kroll Associates we demonstrated our intentions then. This continuous build-up of expertise from Dentons to the present date shows a well planned campaign. None of the team taken on would want to be associated with failure so their very hiring sends a strong message.
The only uncertainty I have is that the RNS of the 17th of March says Fox will be taking on an Arbitration Panelist. I'm guessing Wordsworth is he. He seems pretty high-powered to me. I think this marks the end of the beginning and we now move towards the business end of the claim. Onwards and upwards!
unvrkw - they're still alive
Today's news is at least evidence of that - reading your last message in April:
"Everything seems to sit now on a court case which could be weeks, months or years away, no change of investment from me but boy is this slow going."
Everything re. Fox, I agree is painfully slow - and with the announcement today of the appointment of a Queen's Counsel we move a little closer to a resolvement. I still feel that the fact it has gone to Arbitration, a good middle path solution will be found and which will be beneficial to us as shareholders.
bit of movement today lets see if we can continue
there still alive
There are 4 contracts for processed products. 2 from last year and 2 from this year. Covid permitting they should complete this year with a total of some 1.8 Mill EU. It is doubtful that these orders will save year 2020 but should be a start for this year.
The factory was able to run through the winter but but weather and Covid may have delayed any installation of the products. While the margin is higher on the processed products the real revenue should come from block sales. The unknown here is travelling by buyers and transportation of the blocks being compromised by Covid. Kosovo is sparsely populated and you would think that quarrying is fairly Covid safe and we have had permission to keep the factory going so it may be that we have escaped relatively lightly. The official Government Covid figures are not high but we don't know the accuracy.
It's a little dodgy at the moment I grant you but if we make it through this year with some Block sales then we should be just about OK.
Only small orders. Money must be tight. CG caught telling porkies again ?