Member Info for eshaitan

Finally! I'm happy. They met their target for trading volumes. I guess end of year results will show how margins are affected.

I would settle for just some figures. The cynical view is the update on September 8th allowed 2 placings to get away. If the company was saying they expect trading to meet the 100kg target at year end then I can't think of any reason why we shouldn't be getting a brief trading update at the end of the year. I'm not expecting an update every 5 minutes but it's getting a little ridiculous now.

It could happen Dibs. Cash must be pretty much non existent now. But I would like to think the board are better than that.

That's very good news. Providing block marble shouldn't be a problem.

Seems a funny time to sell when news should be imminent. But I suppose in Greece news is always just round that elusive corner :)

Good points. I was thinking the same thing about the falling gold price. In my experience no news leads to very average or poor news. There is a lot of hope in the share price already so I hope they don't miss expectations by a country mile. It's a new setup so personally I don't expect miracles, and they did well to setup the trading arm. I do however think 6 months of no news is very poor. We will just have to wait and see.

Not until I see a trading update. I'm surprised they did not release a trading statement at the end of the year, we have been operating in the dark since June. I'm patiently holding but it's impossible to value this at the moment without knowing the quantities they are turning over.

At risk of jinxing it even more it surely can't be too much longer? Have just bought in. You can still pick these up at under 7p a pop. I think it's a good risk/reward play.

Surely they need to raise equity soon? They burnt through 1.1 million in cash within 3 months, leaving just 1.1 million left, and that's with the board taking half their renumeration in shares. I can't see how they can get through to profitability without raising more money.

frr is an oil and gas exploration company Carnegie based in a different country, operating in a different sector and headquartered in the US. My point is this is relevant to the frr board not here.

Is there some point to this complete ramble? I thought Kosovo was within the EU sphere of influence with rule of law and property rights protected by the state? This will succeed or fail on sales or lack of. Either you don't think there is a market for their product or they won't be able to sell it under the current management in which case avoid or sell. Or of you think there is a reasonable chance they are turning a corner you buy or hold. Perkylad, Ctw, sensible questions. Mine would be will you make sure this new venture doesn't distract from getting fox marble cash generative asap? At which point next year do you think you will be cash generative? Why has fox marble not been able to get bank credit and has instead diluted shareholders? Notmuchinsales I agree with you there should be some due diligence. Obviously the Chinese deal and some others have fallen by the way and should have been rns'ed as non binding as far as I'm concerned. Eboracum did not pay the full 30pc deposit as per their agreement. However the 2 million order from a 12 months period started from Jan 21st so the Jury is still out. As long as these companies are only supplied after cash up front I'm fine with that. Larger property developers in the UK could of course be invoiced after delivery. I see these smaller companies with a lack of visibility a bonus order to be honest, and should never be rns's as anything other than an intention to purchase. Have a good weekend all.

https://www.youtube.com/watch?v=sDF5038C0-0 Chris Gilbert explaining a little about this new development and company. I think what threw everyone was the timing. If Fox Marble were processing their own stone and were cash generative I think there would be a lot of excitement over this. There's a chance to exploit another 40 quarries with an American partner. A guaranteed way to smash your way into the US market with a huge portfolio of stone for prospective buyers and a monopoly in Kosovo. It could be huge. At this stage though it raises a lot of questions, mainly on funding. If fox marble own 59pc of this new company and 100 million euro's need to be raised surely we need to provide circa 60 million of that? As an operator of the quarries would we then bill 41pc of all costs to our partner? The big one is who's going to pony up the money? The plan is to educate the market over the next couple of months and raise the money over a couple of years. It may happen. I suppose if opportunity knocks then you have to grab it. The Kosovan government probably pointed to us a British company while negotiating this deal as a showcase of Western companies operating there. At least you know there will be good corporate governance and transparency if a British company are involved. Still not quite sure what to make of it, at best this is 2 years away from any quarrying. Dual US listing anyone?

I can only think the board had a few too many drinks at lunch and did a drunken rns. Anyone that bought in on that are mental.

Market seems to like it but it's pretty meaningless being non binding. Could be great well into the future, it could come to nothing. I will be more interested in the current factory being completed and in use. Still a rise is a rise I will take it. Let's see what happens tomorrow

Officially warned :) Let's talk again in the summer. It's been nice.

If they are paying up front for everything I can't really see the issue. If they don't take their full order fox aren't chasing money. Got about 9ks worth yesterday. It was hard to get any volume to buy. Will be back for some more today and then reevaluate next summer. There should be some good news flow coming.

I'm going to agree with you for a change Ctw! It's getting near the time where on risk/reward this could be the time to buy. Most of their order book is for processed marble, not blocks which is good. The factory is very close. We're not taking seasons or months anymore, it literally is weeks away. Once the factory is processing I can see the order book actually being fulfilled for a change. 4 million euro in processed marble sales a year with some block sales on top would see them break even at least. It's tempting to come back in on his one, put it in the isa and hold come what may.

Still on the watchlist. If everything is installed shortly an if they start processing their own stone and fulfilling these orders very quickly they may be okay. But my head tells me with 2.2 million on 31st august they will still need to raise more money.

on Share Prophets for this. TW has spoken to Chris Gilbert again. It's an interesting one.

Fox marble are pleased to report they still can't sell anything but we are still confident we can sell 4 million euros worth of marble in the next 6 months even though that would be 15 times our previous 6 monthly record! The factory still isn't finished and that 2 million we raised in May. Sorry that has already been burnt through. If for some unforeseeable reason we cannot fulfil the orders sharpish we will have to do another fund raise within the next 6 months. But we remain confident, its all looking rosy. Thank Christ I sold out of this, its the same old let down every time,. If that factory completes this year and actually cuts any marble slabs I will be very surprised. I have heard stuff being en route before. I think the board think en route mean its on the same continent in many unfinished pieces. When that factory does complete I will reassess but until then I'm staying far far away.