Member Info for TalygarnTom

I don't suspect that this will help the negotiations. Tanzania is finished from an outside investment perspective. What board of directors would want a company to operate in the environment? Tanzania cancels licence of Barrick, Glencore nickel project https://uk.reuters.com/article/uk-tanzania-mining/tanzania-cancels-licence-of-barrick-glencore-nickel-project-idUKKCN1ID0OD

Customers squabbling over blocks and so many customers he can't remember where they were from! Disclaimer - no ramping was done in the making of this video (not much anyway!) https://bit.ly/2rzRlc3

INTERVIEW: Fox Marble Expect More Sales More Territories Fox Marble Holdings Plc (LON:FOX) CEO Chris Gilbert talks to ************* about its results for the year ended 31st Dec 2017. Chris talks us through the highlights, explains how 2018 is progressing, with a fully functional factory in Kosovo how this is benefiting the company, how well the company is positioned to meet an increasing global demand and what investors should expect in terms of news-flow over the 2018 period. https://www.*************.net/interview-fox-marble-expect-more-sales-more-territories/

Thanks to all that posted in response to my earlier comment and added their own views. It's good to see some more positive debate on the future. Posted below a note from Brandon Hill Capital on yesterdays result and a link to a new and rather glossy 2017 Annual Report. Also, looking at the terms of the finance that #CPR have raised this week it looks like the re-structuring for the company was very good move. https://static1.squarespace.com/static/541ff465e4b0a0d6201bc718/t/5af5293aaa4a998a19222bfc/1526016318742/Fox+Marble+Holdings+PLC+2017+FINAL.pdf Fox Marble Holdings - Fox Marble Publishes Preliminary Results for the year ended 31 December 2017 Fox Marble Holdings Current Price: 9.25p Market Cap (M): �19.9 EV (M): �20.9 Event Fox Marble has announced its preliminary results for the year ended 31 December 2017. The result was a loss of �3.4M based on revenues of �1.20M. Comment This is a disappointing result for Fox-Marble, with BHC having forecast revenues of �2.5M. However, there are some very positive takes on the second half of 2017. Revenues were up sharply by 2.6x from H1 to H2 2017. The H2 revenue was �0.874M (H1: �0.329M). This reflected the success of the marketing and sales teams in addition to the commissioning of the factory in September 2017. BHC believes that this trend will continue due to the new sales contract with OM Enterprises, signed in September 2017, a 3 year sales agreement with Mr Shailesh Patil and re-occurring block orders to large wholesalers in India and Turkey. There will also be the boost offered by the commissioning of the factory, and 2018 should add a substantial increase in profitability as the finished items, polished slabs, sell for substantially more than blocks. The relevant prices as for 2017 were �170/t for blocks and �72/m2 for slabs. Additionally, finance costs will also drop due to the repaying of the outstanding loans. However, the major boost should come from quarrying. In 2017, Fox Marble focused on the development of the M3 quarry in Maleshev�, where Illirico Selene and Illirico Bianco are produced. The market for this marble is proving to be very promising and the Company has sold over 1,900t of this material. 2017 saw a fourfold increase in production at this quarry and a new quarry face has been opened to further expand production. The other 3 operating quarries will be operated in line with demand.

perkylad - more than happy suggestions regarding the figures. It's difficult to be sure of the split between block and slab revenue. You can do it another way by using the tonnage in the table labelled "Results and Dividends" which is a useful measure because all the agreements are noted in tonnage. 2017 Quarry production (tonnes) 8,812 Revenue �1,203,270 so we can calculate that is revenue of 137 euro per ton. Gross profit in 2017 was �407,375 on revenue of �1,203,270 = 34% So to cover a loss of 2.8m at 34% margin they would need sales of �8,235,294 or 60,000 tons which is 4 times the amount of the invoiced production in 2017.

perkylad - more than happy suggestions regarding the figures. It's difficult to be sure of the split between block and slab revenue. You can do it another way by using the tonnage in the table labelled "Results and Dividends" which is a useful measure because all the agreements are noted in tonnage. 2017 Quarry production (tonnes) 8,812 Revenue �1,203,270 so we can calculate that is revenue of 137 euro per ton. Gross profit in 2017 was �407,375 on revenue of �1,203,270 = 34% So to cover a loss of 2.8m at 34% margin they would need sales of �8,235,294 or 60,000 tons which is 4 times the amount of the invoiced production in 2017.

As a long term holder of Fox I am very familiar with the usual jam tomorrow narrative but have always believed that a debt free company based i Kosovo with low costs of production and access to an unlimited supply of valuable marble would be a good long term investment. To that end there is no doubt that the company is proceeding in the right direction all be it at a tortuously slow pace. However, if you look at the consolidated statement there are areas where the numbers don't support the long running narrative. Therefore, the key point is how much marble do they need to sell and at what margin to break even. They say they processed 14,000m2 in 2017. They also say revenue was �1,203,270. This tells me that the average price they received per sq mtr was 86 euro. The consolidated statement also shows that the gross margin per sq mtr was 33% or 28 euro per mtr. The overhead minus the additional finance cost was 2.8m euro. Therefore, by my reckoning then need to process 100,000 sq mtrs of material at last years prices to break even. That is 7 times more than 2017. That seems like a very big jump in production.

Two interesting articles that partly explain the lack of urgency in the approach to the maritime fuel changes, however, the direction of travel is now very clear for all countries. https://goo.gl/AGSdDj https://goo.gl/kLu5a3

I held Virgin Money from the IPO until the middle of last year and I have to admit it is a frustrating company to own shares in. For those of you that are confused by the valuation, the one thing I found affected the price more than any other factor was the perspective on the net interest margin. You can speculate all you like about all of the other things that the bank does but in my experience this figure was the key to valuation and the respective share price.

http://www.quadrisefuels.com/sites/default/files/2018-03/quadrise001.mp3

Unfortunately, I missed the conference call so will catch up with the recording when it is made available. Did they answer the blindingly obvious question as to why has the power company not signed the contracts to proceed?

$36m placing (dilution is horrible but better than zero value) Existing investors including Woodford subscribing for the majority of the shares. Lower cost manufacturing now based in Mexico and China. Walsh out. All we need now is a couple of decent contract wins. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RM2/13586042.html

For those that have been here long enough Shatter I think the term is "gallows humour". defined as: "Gallows Humour" noun - grim and ironic humour in a desperate or hopeless situation.

An offer from somewhere is a distinct possibility at this point.

I read a note earlier on another forum which basically indicated that it may have been the NOMAD that, when informed of the information, insisted that they publish the update yesterday afternoon possibly after taking legal advice.

You would think that they would have to decency to explain why the KSA Electricity Co. wouldn't sign the agreements.

There are things you can control and things you can't. As investors we all get that. But releasing a statement of that importance to an open market is completely unacceptable. Total incompetence. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/QFI/13581827.html

Recent video - worth a watch https://www.credit-suisse.com/pwp/ws/videobroadcast/?pid=Jx_DkpzLJwyjOXsNzR_dBenknuZ2Qq1m

They probably want to open the trust up to institutional investors who do not have a remit to trade on AIM.

Knowing this lot it was more likely Toys "R" Us.