Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I set up this account to tell the truth about Fox which ctw interpreted as knocking it perhaps as the truth wasn't pretty IMHO.
If Fox do EUR 2.4M this year ending Dec I'll post again to admit I was wrong about this year.
Of course I was right about all previous years but that's history as is Banyan Eboracum etc etc which of course may raise their heads again.
With all this positive talk it's clear that you all think that 300k plus per month sales for 6 months is in-the-bag. Thats about 2.4 million for the year with the first half we already know.
Of course if not then this will be the 4th of 5th year running of disappointment.
The factory is fully operational and Chris has stated that people are queing up to buy, so no excuses this time! H2 revenues are simple going to be a reflection of what this company can really achieve.
Very funny CTW.
CTW likes to highlight the positive aspects of the future as he thinks he is doing people a favour by persuading them to invest so as to make them money. Indeed he's topped up at prices much higher from here and decided to tell us.
However, the SP is at al all-time low.
You are completely right, had you not invested because of me you would not have had the chance to make some money then lose it all again.
Terribly sorry to all I've been negative on this company which is now at an all time low. Fill your boots, trust Chris, 300K per month, order book well north of 5 million, Tom knows what he's talking about, they don't need to raise any more funds ever, only borrowing money because the company is so successful etc etc.
DYOR. Good Luck.
Brilliant 300k a month = 1.8M for the second half. He'll already have visibility on that as we are in October so there should be an RNS soon. Strange he didn't mention it in like be mentioned orders in 2015, 2016 and 2017 but then of course all those statements turned out to be wildly inaccurate.
June 2015 " €1.4 million is expected to be realised in the current financial year" (Actual EUR 229,000!!)
August 2016 "The 2016 order book currently stands at €4.1 million...anticipates fulfilling the Company's order book for the 2016 financial year" (Actual EUR 801000!!!)
Sept 2017: Sales..."€304,340 ... order book currently at €5.6m of which the company now expects €2.0m to be recognised within 2017 financial year" making a total of €2.3M sales (actual EUR 1.2M!!!)
Sept 2018 - nothing about 2018????? Surely if he's getting in 300k a month he should be shouting about it?
Fox in June 2016: "Fox Marble order book increased to €4.6 million for 2016"
Actual sales 2016: EUR 801K
2 October 2017 Chris said in a proactive interview "The order book has now expanded to EUR 5.6m" incluidng "2M recognisable in 2017.
Sales in 2017: 1.2M
So 3.6M of orders must have carried over into 2018 plus all the new stuff - sales so far EUR 615,000. How is that a f**k up clearing?
It seems to me that Fox can't create demand, or as you say supply.
IMHO the share price is being held back because the company has announed circa EUR 18M in deals over the last 5 years, mostly as "orders" where of course they have their own definition of what an order is relative to the rest of the business world, yet only managed to bring in circa EUR 3M in sales IN TOTAL in the last 5 years.
I suspect, and IMHO, that serious investors take this company's RNSs with a pinch of salt now because of the continued lack of turning projection into reality.
So I don't think FOX will fly on "good news" because people won;t believe it. It may fly on 2018 results being of sales of EUR 2.5M plus. Which should be easy if the "orders" actually turn out to be real orders. We are only 3 months before year end and Chris should easily have transparency on this. I hope he deliever for your sakes.
As you know, I don't believe that we will.
This would be funny if it weren't for the fact that so many investors have lost so much money.
The forward looking statements seem almost endless to me. Have any of these come true?
"As announced on the 29 June 2016, the Company signed an agreement with Marble Dino Sh.p.k. in June 2016 for the supply of €1,500,000 worth of resined and polished marble over a twelve month period from the date the factory became operationa"
"As announced on the 28 September 2017, Fox Marble signed a sales agreement with OM Enterprises, to purchase 5,000 tonnes of material over three years. As part of the agreement, OM committed to a US$500,000 advance payment."
10 August 2017 "In consideration, and subject to achieving minimum sales volumes of US$1.5 million over the three years as determined by the Company,"
3 January 2018 "The minimum commitment under the Agreement equates to approximately €600,000 to €800,000 per annum"
Chris had said a lot of stuff, like
RNS 5012M "Confirmed orders to date for 2016 are currently EUR3.5m"
RNS 6313R: "The Company's order book for 2017 currently stands at €2.9m"
Of course some of these RNSs with wild statements have been seemingly deleted from the AIM Rule 26 section of the FOX website....all legal of course.
This is a serious question - go over the RNSs from the last 5 years and have any statements about projected sales actually turned out to be ture or even remotely so?
If not then should you be basing investment decision on projections from Fox?
Two years ago I told Tom about Eboracum. He didn't believe me.
Tom said " In short the critics imply that this is a bogus order and that 2 million euro will not translate into cash for Fox."
Anyway GLTA and your patience, especially CTW who said a couple of years back "The delays are frustrating but I do feel we are about to turn the corner - just a little more patience required"
It's a BIG corner.....
"Revenue from the sale of marble products for the six months to 30 June 2018 increased 26 % to EUR615k"
Like some have said, a corner shop does more than that.
At least they don't predict millions of sales anymore beceause people would just laugh at them I guess. Well, laugh more.
Yet another disasterous update from this company. There's not much more to say except the deluded will still post that somehow this is good news, that things are getting better etc etc. Another fund raising looks likely IMHO. GLTA. You all were warned and chose to ignore the evident problems.
I think Brandon Hill deserve some sort of award for predicting sales double what they actually were.
You are absolutely right that some time ago now maybe even two years I can't remember I did create this user name to express what fox is doing and so far it has turned out to be absolutely true. There is not much in sales for the past year and possibly for the year coming. I post here because it's fun and I enjoy being right. Also I quite like the idea that some people might listen to the exposure of the deals with Banyan and eboracum and decide not to invest in fox and therefore potentially save money. You can lead a horse to water etc etc
I don't quite understand the context of your post but Chris has made official announcements to the stock market about expected sales in his company for the forthcoming year for several years running. He has even made statements in September for the year ending December which have turned out to be woefully inadequate. Actually these were not expected sales these were statements about his order book and he has also made statements that he cannot fulfill orders fast enough. If you can't see a problem with that then all I can do is wish you good luck
Shocking that for years Chris has mentioned millions in orders that never materialised. I think this is perhaps the fourth year he's done this. Shocking he's got away with it so far GL to anyone deluded enough to be invested here. Imho and glta
https://www.justice.gov/usao-edny/pr/six-individuals-and-four-corporate-defendants-indicted-50-million-international FCA put them in administration
I think the point is that Chris was pals with a bloke who set up Eboracum which made a massive order then nothing happened for a long time and now companies house has issues a notice to strike off Eboracum who are a self-declared dormant company. Will the same happen with Pristine, as it did with Zhong and Banyan? Can you believe Chris when it comes to orders? Maybe another point is take the debt and repayment schedule, do the numbers on sales, look at their fixed costs and variable costs / operational gearing then work out when they are cash flow positive, then work out if and they can repay the debt and whether the debt needs to be rescheduled, and if so are the lenders fine with that or will there be a placing or debt for equity swap? It's a bread and butter exercise for investors so presumably all invested here have done that??
"Overall, not as good as one would have hoped" They are an utter disaster. How can this company not raise additional equity I personally don't know. IMHO Chris has established a pattern of overpromising and underdelivering, for years now. I hear Fox marble are changing their name to Ostrich marble on account of their investors having their heads in the sand.
As I said on ADVFN: Worse than even I thought: Revenue YTD EUR634,000 - my my reckoning that about 1/3 of what it should be The company now expects 2017 revenue of EUR2.0m - Roughly 50-60% of what he said a short while ago Cash balance as at 24 September 2017 of EUR296,613 - they're running out of cash. Funniest of all: We are holding the balance of a deposit from Eboracum Ltd -- EBORACUM IS DORMANT!! And they've sneaked in another loan This has to be the funniest company around All IMHO, as others have said it's not Fox it's me just trying to see the worst in things.
SP falling when we expect an update showing 2M plus of sales so far this year and another million to come?? Doesn't make sense.