Fox Marble Holdings (LON:FOX)
Share Price 9.5p Market Cap £20.5 million
Bid/Offer 9.25p – 9.75p Normal Markt Size 5,000
Today 7th June, Fox Marble Holdings released preliminary results for the year ending 31/12/2016.
This particular Fox has outsmarted and very much has got the better of many a seasoned investor (The Lion). I’m always amazed at how a good story spinner in any company can continue to rope in new investors into an old story that has failed to deliver time and time again.
(Fox Marble Holdings Quarry)
About the Company
Fox Mable is a dimension stone company focused on quarrying in Kosovo and Macedonia and doing the processing in Kosovo. Fox Marble has five quarries under licence (four of which are in operation) and a further five quarries are under operating agreements.
The 5th year anniversary has gone by since the original idea was financed. Their range of marble products previously stated as in good worldwide demand has generated no profits but excellent losses, despite the millions of shareholders' money ploughed put at the company's disposal.
All that investors have got to date for their trouble is a regular tap on the shoulder for more funds. Fox Marble Holdings is a UK-headquartered company where the company spins upbeat stories about future near-term targets to ill-informed investors who willingly hand over more dosh in the hope of greater dosh. The very same investors are unlikely to be holidaying anywhere near the quarries and therefore most unlikely to know what precisely is going on.
From an RNS in 2014
The Company has been granted mining licenses in relation to six separate marble quarries and completed a maiden JORC resource indicating an in-situ valuation of approximately Euro 16.5 billion. Established in 2011,
Wow, here £20 million+ market capitalisation gets you a 16.5 billion euro in-situ valuation. The quarries are above ground and are in a low labour cost setting, as well as being close to many of its potential customers.
Risk v Reward
How Fox Marble can't make a profit, certainly beggars belief given its own projections of future value to shareholders? Some major misinformation must have been pre-loaded to shareholders given the state…
