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And you can currently sell at 2.01p. It’s much tighter range than the bid suggests.
Have you just bought in valuerebel or are you increasing your stake?
Decent buys on both exchanges. I can’t see the quarries opening this year unless the infection rate drastically lowers in the Balkans, it might be processed material only. The kosovan prime minister just caught coronavirus as well and is in isolation.
https://balkaninsight.com/2020/08/03/europes-southeast-grapples-with-covid-19-resurgence/
I heard it on the mine prophets interview at some point. A complete guess, but I think it’s for fox mainly to bring blocks from their quarries. It has to be cheaper to take that inhouse the amount of blocks they must be chewing through.
No problem Truro.
Unfortunately our very persistent kosovan keeps springing back onto the bulletin boards under different names and keeps getting his accounts deleted. Posting the same old links. He said that action on these documents would be within 2 weeks. That was months ago now.
I have already said I have asked the company for a statement months ago and it was an eye opener as well. The kosovan courts in the past have already said this isn’t a matter for them, take it up in London. This latest document is a rehash and is going nowhere. If this is who I’m guessing it is you have already perjured Chris Gilbert in the past and you’re lawyer had to apologise to the court on your behalf, you haven’t even bothered to try in a London court, strange that.
Lastly statute of limitation has expired and this can’t be pursued anyway. The words I would use is embittered. Keep posting your links whatever name you want to post under they will make no difference for the 3 reasons I have already stated. Blocked again!
The share price may pause but I think this is just the start of the rise. Relistening to the investor show and the answers to my questions there's 3 main things that is going to drive it.
1) Several contracts should be announced within the next couple of months and this latest town square contract is the first of many. Those new cutting machines are needed online asap to help with this as Chris said the factory output would need to be incremently increased from its current capacity of 165,000m2 per year to cope with contracts coming through. To me that shows Fox marble will be significantly profitable next year from processed material alone.
2) Fox is in the market for more quarries. The next could be in southern Albania near Vlora. I'm happy with this as it decreases the country risk being spread out. Who knows when that will be announced?
3) Fox marble had an investor ready to supply the money and ready to sign contracts to get stone alliance up and running before the Malesheva fiasco. The investor will testify to that effect which is why fox is not spending a penny on litigation. A 3rd party litigation provider is ponying up however many of millions it takes to take this to arbitration as they expect a win from this and will take all the risk to get a share of the proceeds. That shows how strong the case is and why I think the share price will rocket as this gets closer to proceedings and a judgement. Chris personally thinks the government may settle before this gets to the end of the process if they think they are on a hiding to nothing.
On a smaller note Fox now have their own truck to transport marble. Less work for Lanii Kastrati. I will miss his facebook videos driving around with marble to crazy music...
A complete guess but I think it’s when they need the stone. Purely because the last square was announced in April and didn’t commence until July. They probably won’t start for 3 months either so the project will continue into the next year.
The company is beating my expectations this year so far with contracts, I hope the numbers back it up.
Get those borders open and I think this team will be selling processed material into most of Europe. Until then it’s great to see the kosovan contracts keep rolling in.
Slowly slowly. The whole world has still gone to hell but the a vaccine this year looks promising. A couple of the latest flash notes...
https://www.brandonhillcapital.com/media/78283/fox_marble_flashnote_2020_07_20.pdf
https://www.brandonhillcapital.com/media/78244/fox_marble_flashnote_2020_06_23.pdf
Hi dactions I wasn’t impressed with the placing either, I thought the price was too low, but I guess there were no other options like new loan notes in the current climate. I’m hoping no more dilution except for management fees this year for payment in shares.
Some interesting price moves and trades the last couple of days considering a large share holder is off loading. Maybe some high roller was watching the mine prophets presentation as well and us buying in.
I had more questions but the 2 hours passed very quickly. You can see why I’m very optimistic.
It will be interesting to see what contracts get announced over the next couple of months.
I did unvrkw. I had to stay up until the early hours over here to do it but I watched the presentation and asked Chris Gilbert loads of questions.
Also Tom Winnifrith in the punters return made this one of his tips again and explained why.
I learnt far more on the litigation, stone alliance and the new Spanish team than I knew before and every question was answered.
I’m very surprised Miton are selling.
And that 10p target is the end of next year! This year who knows? The block sales are completely out of the company’s control and they will need those to break even, but I bet the factory alone beats last years sales of 1.4 million.
A 20 million payout from the legal action after the litigation finance providers take their cut conservatively makes 6p of that 10p.
I also expect at least a million euro profit next year. I think a P/E ratio of 20 for a growing leveraged company is reasonable. That would make up the other 4p.
Will Milton sell down more of their holding? That could be an overhang of 10 million shares if so.
Good luck to them! Plenty of trades going through on the nex exchange. I still think in excess a 10p share price by the end of next year is possible.
I’m very optimistic as well. More contracts on their way and hopefully soon the quarries will reopen for block sales. Profitability must be close.
I know but after the first 100 feeds it gets repetitive, and we are planning to try for a 3rd later this year so I get to do it all over again next year!
A very enjoyable mine prophets experience. This is very much a strong hold for the next 1-2 years and it could and should be a 10 bagger from this level. I think over the next year as speculation mounts on a settlement and operational gearing kicks in this will fly.
But for now I'm going back to bed! have a good weekend all.
Trying to keep my brain sharp while bottle feeding my son, I started reading the arbitration website in London. It’s fascinating stuff. At the moment we will still be bogged down in procedure, the languages used, how witnesses submit their testimonies and each side will be prepping their cases. But once it’s actually heard the decision (even in large cases) is fairly swift and it’s binding. Looking at the frequently asked questions there shouldn’t be an appeal, as you can’t appeal the decision only the procedure that reached it. Also London has the fastest and cheapest arbitration court in the world.
https://www.lcia.org//News/lcia-releases-updated-costs-and-duration-analysis.aspx
https://www.lcia.org/Frequently_Asked_Questions.aspx
Absolutely. I guess fox will be arguing the legal institutions of Kosovo and government agencies have not done their jobs rather than changing rules to the detriment of foreign firms.
If you have time to run this through google translate these are the pending cases.
http://ekonomiasot.com/260-milione-ia-kerkojne-kosoves-ne-arbitrazh-edhe-pacolli-ne-mesin-e-paditesve/
My takeaway from this is it can be a very lengthy process, Mabco construction filed at the end of 2017. Chris and team can not rely on a quick judgement they have to get the business very profitable with what they have.
One more week to mine prophets....
I’m still fascinated by the pending court case, fox marble vs Kosovo. Kosovo lost 3 international tribunals in 2016 and won the big one against axis capital
https://wiiw.ac.at/wiiw-opinion-corner-kosovo-s-arbitration-games--n-217.html
At the moment they have 4 tribunals pending and 2 more being threatened. They have some big problems enforcing their own laws.