focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
https://mobile.twitter.com/FoxMarblePLC/status/1280790402694549506/photo/1
http://m.bizneset.info/oek-kcc/
Looks like a kosovan organisation promoting start up businesses to other businesses. A bit of free advertising but hopefully it didn’t slow production down for long.
Sounds good I will see you there!
I wonder if there will be a post interview share spoke again? I hope they don’t rehash old news and release more information prior to the interview. A trading update for h1 would be nice.
1) A constant criticism of fox marble is that contracts are announced and never fulfilled or unannounced via RNS. Is the temple contract in Abu Dhabi announced in June 2019 with a value in excess of $2.4 million still being fulfilled by Fox marble?
2) Why does fox marble, a company that desperately needs to get to profitability, waste money having joint brokers?
3) is the malesheve quarry still in operation by the owners of green power or are their operations suspended as well pending arbitration?
4) Are the people behind Green power also behind Scope? It seems strange they both reneged on their agreements at the same time.
5) is there any chance of getting malesheve quarry back now there is a new government in Kosovo or is this quarry a dead parrot?
I’m not asking questions about the forthcoming “legal action” in Kosovo that has been posted on this board. I contacted the company a while ago and they were very forthcoming and I’m satisfied with their answers. I’m also not going to ask anything market sensitive. I’m very much looking forward to the interview.
Shows what I know, no agm update.
No problem I have done cracking questions for a few weeks time.
Here it is guys. Another online investor show by share prophets on the 18th July.
Fox marble will be presenting. A stipulation for companies to attend is that the CEO’s have to make themselves available in a chat room to investors for 2 hours to answer questions.
Put all your demons to rest and ask what you like for the princely sum of 3 pounds. It does mean I will be crawling out of bed in the early hours of the morning but I will be there.
Well I think you will get your update by tomorrow. I think most construction has been delayed so it’s encouraging to see them still winning contracts.
Looking at the fox twitter account the first delivery of marble arrived at the weekend. Looks like construction projects in Kosovo are restarting.
Well I thought it was anyway. As long as fox marble’s right to purchase the malesheve quarry was watertoghtbit would seem they are definitely covered by kosovan law.
https://investmentpolicy.unctad.org/investment-laws/laws/211/kosovo-law-on-foreign-investment
Haha not me, I can’t explain the spreadex rns.
I think we will get a trading update before the agm next week. Minimal block sales if any but the processing might be going well. I listened to Chris Gilbert’s share prophets interview again and the staff were working on inter stone orders and completing their own projects. I don’t think we will hit anywhere near the 1 million last year but the losses might be reduced again. He also mentioned their Indian partner being fussy. I think the partner was called fraternity? I’m wondering if that is a reference to the temple contract having issues?
As for topping up I still think this is very cheap even without malesheve, which I think they can easily claim 30-40 million damages if they have been wronged. I get my tax rebate and yearly bonus early July over here and I might buy some more, but definitely not through spreadex.
I think I’m the past we guesstimated 3-5 million of revenues to break even depending on the mix. The factory should achieve that by itself next year with the 3rd part processing agreements.
I’m surprised they can’t operate the quarries yet. You would have thought they could easily keep a safe distance in the quarries and just step up disinfecting equipment before using it.
Good to see work being won. I wonder if there will be a mini project and building boom next year once everyone is back to work?
The only concern is pricing. There can’t be much money in this one surely?
Not me unvrkw. The only thing I’m doing at the moment is renovating and working. I guess other people think this looks cheap as well!
I think some posters should be very careful what they write. Basically you’re accusing the ceo of fraud and siphoning money.
It’s not going to be hard to make an example of a poster for libel if they can’t back it up.
I’m looking forward to the next update. I bet they have tied up with more building companies and architects to provide material to the balkans or processing services.
And to think nearly a year ago the company announced their largest sale from malisheve and shortly after the best h1 results ever with reduced operating losses and greater profitability. It seemed a given they would break even in 2019.
It’s been an interesting year since of legal shenanigans and plague. I see Coronavirus infections are still quite high in Kosovo after restrictions were relaxed slightly. I think it’s still going to be a while before it’s business as normal.
Those weren’t mine but yes I did have some small top ups in my ISA taking me to just under 1.2 million shares.
That’s enough for me at the moment, I’m just completing on a house on Monday so I have sold a lot of opti shares 2 weeks ago for the deposit and to buy some fox marble.
I guess I’m being a bit more cautious now, fox is really my only high risk investment, like you I’m not buying or selling I’m going to wait and see if Chris fulfill his promises.
I see no reason to delay the results. The accounts staff and management are still working. They can still social distance and put them together for release. You would have thought this would be an ideal time to do it while it’s quiet.
Anyone planning on attending the AGM?
Although a lot is already known. A total of 1.4 million revenues 2019-2020 is bad especially as 1 million of that was in h1. It shows how much of an impact losing malisheve had on sales and the knock on effect of management wasting time relocating equipment and instructing legal action.
Which brings us possibly to a trading update for this year so far. Assuming the worst there may be no block sales at all this year if travel remains restricted eliminating one source of revenue.
The processing of 3rd party material might be the biggest earner for the company followed by work on their own projects. This covid situation makes it impossible to predict anything. Best case scenario fox marble smash2019-2020’s revenue this year just with the factory and with lower overheads. If that happens the business case for investing looks very strong. Of course the 3rd parties might be scaling back as well, it’s hard to say.
I have also been reading some past judgements of international arbitration cases against Kosovo, including the largest Kosovo successfully defended. The biggest risk for fox is if they lose they could be on line for costs of a couple of million.
But Kosovo seems to be struggling with their own rules, I see lute credit put in a claim as well a couple of months ago having had their business hamstrung by the kosovan central bank. Also judgements can take a couple of years from being lodged so it may be late 2021 until judgement is passed.
There was nothing in the results that were surprising. I thought the most interesting thing yesterday was elrico’s blog. SOH gave targets which if achieved would exceed 2.4 million in revenues. As more and more deals come to fruition this year I’m sure it will be exceeded.
And sensible housekeeping. Reduce costs, get rid of Goetz thank god and increase margins. There’s plenty to be cheerful about.