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except unvrkw who may need several when his fox shares buys him his mansion :)

Agree with the sentiment truro, I think they will make it as well, this year or next they will be profitable. I have had a few more shares this week as I think the downside is fairly limited at this stage. If there is good news shares are in short supply so the upside is probably more.

Not long now until the trading update. I’m guessing Monday 30th July.

I think you are right with this incessant background seller. I wonder who they are? Not much to do except wait for results and hope they are nearly out of shares to sell.

Getting closer to quater 4 and initial results. Happy to hold and wait.

One day maybe! For example Simseklers 9 quarries, 3 factories and 2 showrooms would be dwarfed by Stone Alliance if it ever gets off the ground. It’s a big IF though.

I think you will get your 900,000 euro's in revenues, maybe more.

Simsekler's order and OM Enterprises (for the 600 tonnes they selected already for 2018, plus more hopefully) will be around 300,000 euro's alone. As that is upfront or on account it's guaranteed revenue. On top of of that the larger India customers, GCC (also paid upfront), America and any other small sales.

I have spent a couple more hours going over the final accounts again and all the notes. It's a mess. Trade payables ballooned from deferred director liabilities, receivables increased due to extra deferred investment over 12 months, (although that was a good thing). Revenues and the associated cost of sales are unflattering because of bad debts from 2016 and 2017, mostly from Pisani. Inflated shipping costs, probably from sending marble to Italy for processing and huge legal and consultancy fees for a company this size (possible for Stone Alliance tie up and also costs against Mermeren for the rights to market our white marble as Sivec).

My take again is there are some costs that can be stripped out but 250,000 euro's a month is pretty much fixed. I think the market will like the update on sales figures, but cash in bank will still be wafer thin. If the company shows sales of 1 million and predicts h2 sales of 3 million expect a rise. Anything less and the market will predict a placing and it will fall.

I like the idea of a London showroom I hope they tell us more. Still optimistic on this one.

And fox marbles resource will last much much longer than theirs. But aau is doing well. An article from June 26th I thought was interesting, just because it describes the dimensions of the project. It was a small job of just 90m2 but would be worth around 10,000 euros to fox marble in sales. I bet they are knocking these size orders out everyday now. http://www.tomorrowstileandstone.co.uk/fox-marble-turkish-bathouse-development-hertforshire-villa-extension-fox-marble-quarrying--680.html One more thing that is a bit annoying. Pristine stones in nyc ( which fox own a 5pc stake in), their website went down a couple of days ago, they have notrenewed the domain. Maybe an oversite but it was a pretty good website. Www.pristinestonenyc.com I’m looking forward to some hard numbers later this month.

I see share profits have reiterated their profit forecasts of 1.3m plus for 2018/19 and 3 million the year after. They seem to think the late results are down to the management concentrating on driving the business forward.

Hopefully that’s the seller finished. That 88k sale was getting on for 1pc of the company

Thanks I won't I have worked too hard to throw it away. There are still near term operational risks with the Malesheva quarry as it's the least developed of our assets. No news on our largest Indian customer meeting their commitments either. I think the operating terms of the Prilep quarry for the Alexandria white are pretty poor as well as we pick up all quarrying costs and only get 40pc of the revenue for the blocks. I'm assuming when we value add by processing them Fox marble keeps all the extra money ?

On the plus side 2 more Indian customers visiting the quarry this month. A big increase in the slab and tile sales (which was always what interested me from an investment case). 50pc of the shareholder capital is tied up with funds, founders or large investors, I can't see them selling anytime soon.

I'm certain Mr Shailesh Patil would have done due diligence before buying up 9pc of the share capital for 2 million and also commiting a further 500,000 up front for marble. Far more than we are able to do. I can't see the board failing or winding up the company, I honestly believe the biggest threat would be Patil increasing his stake enough to launch a takeover at a lower than IPO price.

On a risk/reward I think we are both going to do well from this. If this starts throwing off cash watch this bulletin board come alive with new investors. At the moment I believe we are already generating cash on a monthly basis and the market hasn't realised it yet, I hope I'm now wrong!

Thanks for that I just had a listen. Regarding your earlier post I’m surprised as well the share price has not risen, people are looking back not forward. I had 2 more top ups but it’s very hard to get any amount of shares. I have broken my rule of a set percentage in any one stock as I think this is now sillily underpriced and under the radar. I have 630,000 shares now but will be looking for more. Mr market has this wrong. The only concern as you say is the money situation. They have taken 1 million up front off 2 customers but only had 0.44 million at the end of April and we have no idea of trade payables and receivables at that date. My take on it is they have got through the quiet winter months and now if the cnc machine is working non stop they must now be cash generative. Because in addition to this they can sell as much block marble as they can dig up from the malasheva quarry and have marble stockpiled at all the others. They also have large amount of slab material stockpiled as well. I didn’t think they would turn a profit this year as I was pencilling in 4-5 million of sales to do that. Now I think they might. The 40000 m2 of slabs and tiles targeted for this year might also need to be upgraded as they can nearly turn that quantity over in a month at full capacity. Interesting times. Roll on the July update.

Just got an alert on the rns so a quick “break” from the holiday before the wife catches me. To put this in perspective for new investors the Turkish deal was 400,000 euros for 2000 tonnes. The 850 tonnes supplied this year should be worth at least 170,000 euros to fox marble in h1. This is one of the larger firms we deal with, with another 3 big firms in India and contracts in the Balkans, USA and gulf countries. Also there are a myriad of smaller customers and walk ins weekly to the factory to select slab and cut material. Last year there were 32 unique customers, this year expect far far more. H1 revenues in their entirety in 2017 were just under 330,000 euros so you can see the big improvement going forward and this supply agreement is dwarfed by one of our India deals. It’s looking very good.

One more observation. H1 ends at the end of June. Last year we didn’t get results until the end of September and they were disappointing. This rns says they will release a statement by the end of July. I think good news is usually rushed out.

Just got an alert on the rns so a quick “break” from the holiday before the wife catches me.

To put this in perspective for new investors the Turkish deal was 400,000 euros for 2000 tonnes. The 850 tonnes supplied this year should be worth at least 170,000 euros to fox marble in h1. This is one of the larger firms we deal with, with another 3 big firms in India and contracts in the Balkans, USA and gulf countries. Also there are a myriad of smaller customers and walk ins weekly to the factory to select slab and cut material. Last year there were 32 unique customers, this year expect far far more.

H1 revenues in their entirety in 2017 were just under 330,000 euros so you can see the big improvement going forward and this supply agreement is dwarfed by one of our India deals. It’s looking very good.

Just read some of the stockopedia coverage, I haven’t seen it before. Quite fairly they are very negative on the progress so far considering we were meant to be breakeven 12 months after the ipo. It just hammers home fox has to deliver this year, there can’t be any more excuses or wild sales deals that come to nothing or any fundraising. I’m away for 4 weeks today. I will stick my head back in when I get back and see what’s happening.

Yes in this for the long term and hopefully a good dividend stream in the coming years. Roll on the September interims.

I switched my portfolio around a bit more and topped up some more at 9.2 this morning. I haven’t as many as you but I have just over 500,000 shares. Now to sit back and patiently wait for as long as it takes.

Quite rightly too. It’s crazy money for lojuxta. If they can get the cost down far enough every patient affected will be able to get treated.

They probably aren’t happy they have us as a competitor. We can’t call it Sivec but it’s the same stuff :) and as you say we are diversified as well. Still falling today it’s tempting!

Released their agm statement today. No nasties in there, looks like they are stabilising and growing their business. Hopefully that bodes well for falanx.