All depends how long this drags on for I guess? The status quote is thry don’t buy the rights to the quarry and pay 20pc on profits in the future at males here. And they don’t buy out the hire purchase debt which in the grand scheme of things is negligible and will expire in a few years anyway.
I said back in April they could hit a snag if the share price drops below purchase value. As this is a related party transaction I would think this is still all about price. Malisheve is being far more successful than the company could have envisaged, it probably is worth substantially more than fox are paying whatever was agreed.
It’s worth another call to the company.
To go from the last interview dispute having no effect on production to now stopping production temporarily.
Is this a way of tightening the screws for fox to say go through with the deal or get no commision ever and no money if we don't produce or is it the other way round and they have been stopped?
I sold 40k's worth of shares a few weeks ago as a hedge but still have agood chunk in here so I hope it's a negotiating tactic. Expect the share price to get smashed today!
On another note this was on the advfn board over a week ago. I thought it was some nut job. How did they know?
Nitbhav asked what we thought h1 revenues will be. I think somewhere between 1-1.1million, but I wanted to see 1.5 million to have any chance of breaking even this year.
I watched a video on Facebook this morning of one of the drivers delivering again. They have sample slabs of all their marbles lined up outside for customers to see as they drive in and an impressive amount of blocks and processed material. Are they selling more yet?
I think the share price is in limbo at the moment as the company is still not generating cash on a month by month basis, probably because the sales for the factory haven’t grown as expected yet. Investors are keeping one eye on progress achieved and the other on the cash balance. The block sales they are doing very well in but they can’t achieve profitability on these quarrying levels without factory sales increasing.
It’s nice to see more block sales announced but I really want to see an rns for a big processed order. That will be the catalyst for a big share price increase.
Anything up to 2 million euros I assume, as the average price sold to China was over 200 euros per month.
It all depends what price they are achieving for lesser grades and if they can fulfill the order. I don’t see how they can at current extraction rates.
Like many bought in on the drop. With fees and duty a 188p average, so down already, but who ever gets it exactly right?
I have family that work for Costain and they are very different from the competition. Little debt and net cash so even if the visibility of earnings is a little bit hazy for the next couple of years the foundations are very solid.
Expect a dividend cut this year and next but a great opportunity for some capital gains here. I think this will bounce quite quickly, especially with the statement from the CEO this Tuesday. This isn't a Kier or Interserve, this is very well run.
Cash burn was 180k over the last 2 months. 800k left. It’s hard to say, sales will be weighted to h2 and monthly revenues should increase. Cash burn should stop until the end of the year.
Green power would have been handy, but I never like talk of legal action it’s always expensive. They might just be stuck in the deal until it’s paid off, it wasn’t that much anyway. The licence to the malisheve quarry is another matter.thats a company maker and should be pursued.
Just 8k of shares traded on primary and secondary exchanges today to drop the share price by 8pc. It will recover.
A minimum of 2.6 and probably more at that run rate. They have another 6 months of full quarrying and I expect companies to stockpile over the winter and increase their orders before the shut down period from mid December to March. With a fair wind and more orders from prilep I still think it could be nearer 4.
Investing in a marble company isn’t for the faint hearted! 280k in sales in May is okay, especially with those big orders not kicking in that month.
Bemused on the legal action. I thought the purchase of makeshebe was cheap at 1 million but surely this was agreed beforehand. Especially as Nail Rrustremi was involved and he is a director of one of the subdidaries. . I guess they want more money...
Yes thanks for article, I just signed up and had a read. I'm just wondering when the interview for it took place, as it reflects information given at the start of the year with no temple contract mentioned. The 3 million revenue matches the information the company gave us in February for their confirmed orders of 16000 Tonnes of block marble. I think most of that would be for Selene and Alexandrian Blue.
Since then sales of Alexandrian white have motored and it's only June. I know the business is heavily weighted to Selene extraction at the moment to meet sales but I really think that forecast will be upgraded at some point.
Well they are trying anyway!
I wasn’t expecting an RNS anytime soon but thought I would check. Its good to see the company announcing significant sales of marble to their existing customer base as promised. That 16000 tonne block sales target might just happen.
It’s a big leap from last year and no doubt I will be disappointed but there is so much room to improve on all fronts.
Sales from prilep will massively increase, we have already seen that start.
Sales from malisheve should do the same.
The factory has been a head in hands for the last few years. 40pc more processed material sold last year than 2017 but total revenues dropped over 10% to just over 350,000 euros despite all the new kit and investment. That has to improve as a matter of urgency. I guess the office in Dubai will help with that.