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Extra information from the ground.
Invoices issued by Fox to local Kosovo buyers in exess of 100k, (which should have been paid into Fox account in Kosovo) supposedly have ended up in Chris local director, Astrit Citaku's private bank account.( Astrit Citaku was appointed as director of Fox Marble Kossovo last year).
Astrit Citaku is constructing his own building with Fox money, supposedly also Chris as his international partner. This doings were reported to Chris by his local accountant Faton Ahmeti but looks like everything was ignored.
Latest RNS'
Reporting from Kosovo.
EBA sh.p.k. - is company with no offices in Kosovo. It is, however, registered in Kosovo's equivalent of companies house, and its CEO is Astrit Citaku.
Mr. Astrit Citaku - was appointed by CG last year as Director of Fox Marble Kosovo. His brother Endrit Citaku- is employed by Fox Marble Kosovo as CNC operator.
Egzoni sh.p.k and Skifteri sh.p.k - small scale local companies dealing mainly with tombstones, neither own nor operate any quarries in Kosovo.
Furthermore, Fox's Cervenilla and Surigana quarries are closed.
Dubai order -never commenced
Factory - working in extremely low capacity.
All and any promises for last 2 years have not been fulfilled.
So, does Fox sell marble or just shares.?
I will post detailed information in due course.
Latest RNS'
Reporting from Kosovo.
EBA sh.p.k. - is company with no offices in Kosovo. It is, however, registered in Kosovo's equivalent of companies house, and its CEO is Astrit Citaku.
Mr. Astrit Citaku - was appointed by CG last year as Director of Fox Marble Kosovo. His brother Endrit Citaku- is employed by Fox Marble Kosovo as CNC operator.
Egzoni sh.p.k and Skifteri sh.p.k - small scale local companies dealing mainly with tombstones, neither own nor operate any quarries in Kosovo.
Furthermore, Fox's Cervenilla and Surigana quarries are closed.
Dubai order -never commenced
Factory - working in extremely low capacity.
All and any promises for last 2 years have not been fulfilled.
So, does Fox sell marble or just shares.?
I will post detailed information in due course.
So, CG visited Kosovo yesterday. We know he is the only person who can now show us pictures/videos of 'operational quarries in Kosovo' (with January 2020 dates on it). I hope he won't provide picture from Prilep and pretend they are from Kosovo quarries.!!
Extremely beautiful, sunny weather in Kosovo these days. Perfect conditions for quarry operations.
(Note that all quarries in Kosovo are closed and have been for some time now).
good morning all
Last RNS contains many irregularities.
First, there are no ' two shifts' operational. This statement is delusional.
Second, CG's statement that there will be revenues generated in region of 1 million euros. whereas;
a) there is only one gangsaw in function.
b)Polishing lines still not functional,
c) Resin line out of function,
d) CNC machine, functional in manually mode only.
Moreover, a recent local job that they have taken to complete, was never paid to Fox Marble, as a result of which, Fox's local partner has benefited from it.
Fox marble is not a serious investor.
Most of investments were in London office and the people who “ worked', were from within 'the London office'.
Fox never had a license of the quarry in question and never had written agreement with quarry owners.
CG knows it well. Will see this year when PWC audit their accounts, if CG can prove to them that it holds '40 exploration licenses' .
Government of Kosovo was in CG's side (until last Sunday) but unfortunetely for CG, law is and was against him and he knows that well.
Very interesting year
To TruroTrader:
You (including all shareholders) wish I was/am wrong. Unfortunately, this is the reality.
• Dubai order - is failing
• Factory - idle
• Quarries in Kosovo - closed
• Quarry workers in Kosovo - unlawfully dismissed.
(List goes on)
I wish it's not true - but IT IS
Hi unvrkw,
Do you think it's a 'very good thing' that:
1. Machinery has been leased?
2. None of their quarries are operational here in Kosovo.?
3. Factory is still idle ?
and/or
4. That their Factory Manger is no longer there?
Please specify;
Furthermore, (inside info from the factory), the person who was in charge of the factory, no longer there.
Challenge accepted.
Although, I am rather surprised with your statement for the following reasons:
1. There is no need to assume that one may not say the truth on the chat.
2. Don't you think that CG should be challenged.
In addition
• None of their quarries are operational here in Kosovo.
• Factory is still idle.
One should rather be very concerned of the new COO's 'strategic review' of the company. Machinery worth in excess of 200k to be leased to a local nikel company at extremely low price (even lower by Kosovo standard), sounds rather strange.
From annual report 2018 : "Through submission all exploration licences, Stone Alliance now has exclusive rights for a 40 year period to 40 quarry sites".
Can Andy Muir, as biggest shareholder, ask CG to publish these exploration licences because Kosova law on mine and minerals issue exploration licences for a period of maximum 2 years with only one extension for 2 years (see article 21 of Law on Mines and Minerals of Kosova its english version too).
CG must have his own reasons for this and he might share with public.
Please google:
Squire Patton Boggs secures complete victory for Kosovo in €380 million Investment Dispute
This is what Chris was reffering to in the interview.
CG is talking about Kosovo is loosing with German investor Arbitration case. Please follow the link and read
https://icsid.worldbank.org/en/Pages/ICSIDSearch.aspx?k=Kosovo#Default=%7B%22k%22%3A%22Kosovo%22%2C%22r%22%3A%5B%7B%22n%22%3A%22ItemType%22%2C%22t%22%3A%5B%22%5C%22??4361736573%5C%22%22%5D%2C%22o%22%3A%22and%22%2C%22k%22%3Afalse%2C%22m%22%3Anull%7D%5D%7D