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Hi dactions - it wasn't always like that! I sold out some 18 months ago when we lost Malesheva and I commented at the time that it was a bit too Wild West for me. My average then was 11p and I sold for 7p so took a bit of a loss! I guess I'd have to go to some 3.5p to recover the 1st loss but that is gone now. 2021 is going to b interesting here - one way or the other!
The reason I have bought back in is that the company is in a far better position today and yet the SP is a quarter of the price then! Not to mention some juicy compo! Still a gamble of course but possibly less than it was.
Fox is a failure. The legal fight is total nonsense and a last post covid gasp for air. The case aint plain and simple as some of the rampers make it out to be. If was that simple Kosovo would have realised by now and coughed up and made a deal. They have a very strong case and they know it. They have to act out their own laws. No way around it.
Wow Trurotrader - average of 2.1p
For all my toppings up in recent years, I still can't get below 5.3p :-(
Truro, yes Fox do own 59% of stone alliance & from memory the senior US person in Kosovo is the Chair. The US Govt has awarded the company special status in the USA, and from what I understand this exempt them from paying sales taxes when selling into the US. One of the reasons for the 195m claim, is that Stone Alliance was in negotiations with a significant potential investor, who pulled out when the quarry was ceased, citing political risk.
Truro - I don’t hold but I do monitor. More out of morbid curiosity these days. As for the legal guys are they working on a no win no fee basis?
I did promise myself I wouldn't buy any more into developing companies IE no profit and no divi. But I've just done a little 1K top-up and scraped in under the 2P at 1.9550P. The reason for topping up is that the litigation now feels as if there's a bit of momentum behind it. Tine will of course tell but my average now is 2.1P so i really really must stop buying!
It doesn't get mentioned much, not even on the website. I know it's an American company that Fox has the lions share (60%?) and it was set up some years ago to promote the quarry industry in Kosovo but I know not a lot else - was US government help involved? I understand that it has a huge potential that rarely gets a mention. Any body any info?
Just to re-post my take on the litigation outcome. 195 Mill is a little ambitious I feel but enough cash to clear debts provide any new machinery/equipment needs plus a good few bob in the bank and some more government/local authority contracts and I'd be happy. Basically we have a working company with a skilled workforce and management in a low wage economy with a top quality product. The only real drawback is the winter quarry shut-down but hey! global warming might cure that!
9m buy after hours yesterday !
OK Devanosiy - I give up - when was it?
Tell me, when is the last time "our CEO" even went to Kosovo ??
lse is pretty much a rampers forum. This plc makes less money than an off licence. If Fox were really in it for Marble they would have to try on purpose to make this much loss.
Dibs
I’m really surprised you calling this as a lifestyle company. Do you think Kosovo is like a Caribbean island where ceo goes to spend his summer on our money?? This guy has been developing a business in a country which is not business friendly. He has got big lawyers to fight his case. So you think all are his mates and trying to scupper money???
Unbelievable stuff. These forums should be charged per message. We will see some sensible talks then. GLA
I agree with TruroTrader - we might as well give up on Fox if we ignore their right to a legally obtained quarry. There is a new government in Kosovo - they aspire to joining the EU - as does it's neighbours, principally Serbia - so that won't be on if law & order goes out of the window. They want to grow the economy - as their current base level puts them down the list in meeting the EU's financial joining criteria.
The Americans were very supportive of Kosovo redevelopment - particularly its involvement in Stone Alliance and in which Fox in involved - I am sure that still applies to the new Bidon administration.
With these legal heavy hitters on board, I think there is a very much better than evens chance of at least seeing the sp increase - perhaps as much to 10p before the year is out. Others on this BB have worked out that just a small percentage of the claim being met would achieve that. I've invested at much higher levels than now as indeed has CG and his associates and we all want a decent return on our money and involvement. They have a first-class product and after all those years of waiting, a decent factory site so I continue to be very positive for a good outcome both for the Company and myself.
Hi Dibs61, Your view that this legal 'fight' is total nonsense is obviously not shared by, Kroll associates, Simon Nesbitt QC , Dentons and, last but not least todays SP rise. If you let them know this view then they can all pull out and save Fox some money. Your so pessimistic I'm surprised you still hold.
This legal ‘fight’ is a total nonsense. Does anyone seriously believe that even in the event of a ruling in Fox favour that the government of Kosovo is going to cough up €195m and hand it to them. The phrase Cloud Cuckooland springs to mind. No forget it. This is just another little saga in the sorry history for shareholders in this classic lifestyle company.
Amazed that Mr Smooth Talking still gets away with it!
I see the offending poster seems to have been removed, it always looked an odd story.
What I am unable to weigh up here is the likely ovarall outcome of hostilities with the sovereign govt of Macedonia.
Sure, the judgement may be valid in intnl law, but this is a notoriously corrupt region, and the govt ( usually, in these areas, connected closely to local business/mafia) have other levers to pull wrt licensing, public contracts, etc.
Or do we have the necessary krysha in place?
Heavy weight moves for a £5m cap company.
Game on
yes, that is much quicker response than I would have expected. good stuff.....
PS. It seems I can remove my filter now as the wally wacky nutter has been removed thanks to the moderators.
What an excellent RNS . I particularly liked the engagement of Kroll Associates which seems an extremely positive step. Wonder what it will do to the SP? Up a bit I guess. Will somebody tell the wally-wacky idiot to send his posts to Simon Nesbitt QC who will be so frightened he'll pull out! He obviously hasn't told Dentons yet as their still on board!
Listen, you corrupt little hump, don't even. It's YOU who have to provide the evidence. I told you that frivolous and vexatious 'litigation' need not be RNS'd and your subsequent multiple failures in court has further validated that. You show me evidence to the contrary. Otherwise, sit down and await your fate.
Now that's what I call a litigation advance that requires an RNS
Maybe this QC needs to be told the truth?
Someone tells you something is 'pure and simple fact....', and you can be pretty sure it's precisely the opposite. Frivolous and vexatious litigation never was and never will be required to be disclosed by AIM or any regulator, and the fact that you lost 4 times in a row, a pure and simple fact, is just ex-post evidence of that.