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Seems to me we are either broke and running on thin air or still making the town square orders?
Anyone’s guess where this is going, I wonder if the demand for marble has picked up in anyway in comparison to pretty much all other materials? Are the Chinese back in? We ideally need some insight. When the market crashed I think Fox might be my shining light
I have no formal legal training but have successfully sued solicitors on two occasions and arbitration was the way the solicitors and I achieved a result. It is encouraged sometimes by both sides and in a case going to court a Judge may well ask both sides to consider it. The result is often binding. It can be the opposite of an adversarial Court battle.
A neutral go-between is agreed and they shuttle back and forth taking the views of the two sides with them. Arbitration is quick to set up and can cut through a lot of Courtroom posturing and while neither side may actually "win"; a settlement can be reached and both sides can move on. Importantly in our case the proceedings are confidential and so no public ****ging-off is generated. After all we want the Kosovan government on our side!
Has anyone looked into this..... from my limited research there is a very high possibility. If we have someone with legal background he will have a much better idea. Would love to her what you have to say.
agree, like any business of this type news is key and we have had very little for sometime. we know they can wind the costs in, have less people, work only to orders however as yo say with covid its unknown whether we are selling anything . everything is pitched on a court case to recover great sums. i hope for an update soon that shows we are surviving
There are of course 2 orders from last year to complete but I think more is needed. It's the Covid-19 situation with any associated restrictions that could be the problem. Are the Town Squares projects able to be worked on? Can block buyers visit the quarries? To many unknowns at the moment.
its impossible to know in any way where this company is going at the moment and next steps. really is hard and we await any type of update.
Cash must be really low now with only two small orders this year
I hold as best decision based on loss. Fox really does seem to struggle with anything positive, next steps to success at the moment. Looking back even only twelve months the orders/awareness of what the company has achieved is hard to see and go slow perceptions and no cash continue to haunt confidence.
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 .
Eastern Europe appears to be struggling with a wave of new infections. There appears to be a general low level of vaccinations and some countries have compromised health systems. I've not seen any specific mention of Kosovo but if does a rigid lockdown and our factory is closed we could be in a bit of trouble. Don't know if the quarries have reopened yet but although they are a healthy place to work, re virus transmission, it's any travel ban that could be the killer. Any block sales will also be compromised - hope I'm being to pessimistic!
They were buys looking at them.
Huge trades going through, not sure if buys/sells yet. Nearly half a million £ at 1.9 which suggests selling, seems like an odd moment to dump but it's worrying given arbitration is supposed to be starting.
Win4call - it's certainly the right price/time/day to be a Buy.
But why the 7pm ? It's certainly odd though.
From 7pm yesterday ? What’s that all about - hangover from the delayed TR1’s or something else.
There was a fund raise announced last month that was to help cover Fox's legal costs. Dentons have agreed a no win no fee agreement. I expect that Simon Nesbitt QC is not party to that agreement but will be paid from the fund raise. However his presence and that of Kroll Associates is indeed a clear indication of the strength of our case.
I was thinking the same. The government must be trying to resolve the issue and not end up paying £195 million. But i think this also shows that the case is weak and we should get substantial payment!
I see positivity in the RNS. 44K of orders is something that even a year ago may well not have happened as we probably did not have the factory capacity. Looking at the weather I'm guessing the winter break is just about over so block sales could start very soon. If the Covid situation is banning travel from block buyers then I'm pretty sure that by now there will be video alternatives. Various countries economy's are and will be improving. One unknown is how much block we actually have already quarried and ready for sale. My guess is probably not a lot.
Interesting that this is another project indirectly funded by the state we are suing. I hope this helps to shorten the dispute - anything that brings togetherness is welcome.
You can see this stock moving up from here. The biggest attraction is the court case for me. I think the business will start to accelerate going forward.
Rich just got a LOT richer due to stock market. They will all be refurbishing their expensive homes in the coming months. i can see FOX moving up to +6p in the coming months.
Then the court case....NO WIN NO FEE! Why would one of the most eminent British Barrister and Queen's Counsel, Simon Nesbitt QC, take on the case if he doesn't see him winning it. Just look at his EXPERIENCE! OXFORD GRADUATED WITH 1ST!
The biggest law firm in the world.... the resource that offers is mind blowing!
I hold this stock and will continue to buy more!
LesGo!
Mmmm I agree it’s good to see the contract win. I still can’t get my head around volumes needed, minimum amounts to go on and breakeven. Second contract this year so €380.000, needed around €3 million to breakeven, limited blocked sales, few other others ever announced.
I’m still falling into this space of some update but any such momentum, ability to breakeven and move on just isn’t there nor close and every year seems to tread the same path.
No idea on covid dynamic in this region, has block sales stated? I guess not.
The need management tram was really needed to support improvements and efficiency within the business, really need actual, larger orders to be in play, to see the bounce and confidence in the business and sp.
Another decent contract win. They keep coming ;)
Yes a little energy again, we shall see
Volume increasing again. Looks like next leg up is building
Well Trurotrader - you made a good move cutting your losses - something I should have done with hindsight. But I agree Fox looks in an better position now than it did and hopefully they'll make the progress that we believe they can. Good luck.
Dibs61, you do need to improve your monitoring. Look at my posts with NotMuchinSales in February. It culminated on the 26th
Now Devanosiy, You're not paying attention, please do keep up. What's the answer to your question?
Thanks philisophical, yes what you say rings a bell. The States don't have much in the way of cutting facilities so we would need to supply finished slabs and tiles. I guess the investment might have been for more finishing facilities plus of course there were a lot of new potential quarries that were also involved. Sort of see the how the figure of 195 Mill could be a little more realistic. One way round this, to settle out of Court, might be for the Kosovo government to take a stake - plus of course a bit of cash anyway! Thanks again.