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The strength of the case will be proven when they sign up a third party litigation finance provider. Fox in their latest interview think that will be in the next 2 months. At the moment Stephenson Harwood are prepping the case but they will need that guaranteed backing to proceed further.
When that third party provider guarantee to fully back the 2-3 million in costs it’s game on.
Assuming the financing goes through the market cap looks crazily low. $1500 gold looks cheap and that will throw off $200 million straight to Kefi for this one project. $1700 gold $300 million.
I’m not sure what my target price is with the other 2 projects in the wings. North of 6p I think but I will reassess in a year when more drilling has been done in Saudi.
On a risk reward it looks good at these prices.
Every country is crying out for increased infrastructure spending and foreign investment during this pandemic. The political will is there.
I have bought nearly 3 million shares. I will be very surprised if we don’t get good news this month.
Litigation was touched on again in the share prophets interview. It’s well worth the 99p for a listen as it didn’t waste time covering what the company does it was straight into questions. I thought there was some very revealing information as well, I really recommend it.
Happy to be wrong if you guys do well from this.
I think I will look again when I’m sure block sales have resumed which really means keeping an eye on the airlines resuming flights and quarantine restrictions easing.
The balance sheet looks a little weak, with payables higher than receivables but it’s a very high geared business. If the slab sales are running for all 3 Announced Kosovo projects and they get paid from all 3 each month they may be okay.
Not me sorry. I’m out again.
But as always will look on with interest and will pop in time to time.
I’m going to have a look at KEFI it’s going to be an interesting few weeks there.
Just had a chance to skim the half year. Got to get back to work.
Crazy that 3rd party cutting contracts and the factory which are meant to iron out the revenues and cash flow for each half have actually produced next to nothing.
Hmmm.
Thanks I will have a listen at the weekend and read the annual report.
It will be interesting to see how the market takes this.
I’m a little underwhelmed I thought the growth curve in revenues would be faster. But maybe that’s just me,
On a brighter note work is still progressing well.
https://mobile.twitter.com/FoxMarblePLC/status/1305799901624905728
Just like Pisani went into administration.
They tried the distributor model and it just didn’t work. In hindsight they would and should have done something different.
You did better than me. I took a 25% hit and sold everything around 6p and then waited to repurchase.
I guess to recover those losses I need a 33% price increase, so around 2.6p to break even overall on my fox share transactions.
How will the market take the trading update and full year report? Not sure, but next year is going to be very good for us shareholders.
I’m looking forward to the updates as well.
The presentation said the third party processing agreements could be worth 1.5 million euros. And there are a myriad of undisclosed orders from a value of a few hundred euros to 50,000 euros. It all helps.
If block sales are close to kicking in maybe a surge in h2 sales will see the company break even this year. It’s going to be interesting.
By the way I did ask fox marble about the waste marble and whether it could be commercialised for cement aggregate or landscaping supplies.
Unfortunately not at this time as the companies that specialise in taking the waste are all based in Greece, Italy and Turkey. As the waste is only worth $10 or less per tonne it costs more than that to ship to those territories.
I think you said a while ago you think this may go to 400 million shares from 300 million.
I still can’t see a better investment in any company out there for the risk involved.
I did think of another question to ask when the interview had finished. I’m going to email fox and see if they can answer it. It’s regarding the waste marble from the factory and if they can sell it for cement aggregate or something else.
I think there was some interesting stuff in there and the questions and answers provided some very good information, especially Truro’s questions about the factory capacity and new quarries. Really good questions.
So block sales are still not happening but soon. I think Chris and the managements feeling is there will be a rush to restock marble soon so they need to get back in the quarries and get stocK on hand.
The factory is going to be a real money spinner going forward and very easy and cheap to incrementally upgrade it. Chris using 35 euros a square meter for processed material minimum is a good base line for what the factory can achieve. Over 5 million euros per annum at current capacity and 8 million per annum with a small upgrade in equipment. Throw on block sales from north Macedonia on top and it’s looking good.
Fox looking at another Selene site was news to me. My thoughts now are I wonder what the terms will be with the licence holder? Will it take another 3 years to make it a commercial enterprise? Losing the malesheve quarry set the company back massively, the kosovan government should have to pay handsomely for that.
My other thought was they want to spend money on capital equipment for the factory, more money on capital equipment to double block production in prilep and more money developing a green site Selene quarry. Does that mean imminent dilution into any share price rise?
I have no doubt next year the company will be profitable but I don’t want to be diluted until then through management fees and equity raising, especially when I believe the share price will be over 6p by the end of next year.
Sounds good.
Anyone tuning in for the presentation later?
I have never tried accessing it as I thought you would have to be a genuine buyer so not sure on that.
I just wondered if in this age of social distancing where buyers will be unable to come from India or China if they could buy blocks remotely?
I know cameras don’t always do colours justice but if they had a online catalogue with pictures and dimensions it might be possible.
I think I’m getting to the same stage as you Truro. I would like some hard numbers, but good news they are back quarrying and feel they need the stock.