Fox Marble Holdings PLC First consignment of marble to Marble Dino (5138U)
October 25 2017 - 2:00AM
UK Regulatory
TIDMFOX
RNS Number : 5138U
Fox Marble Holdings PLC
25 October 2017
AIM: FOX 25 October 2017
Fox Marble Holdings plc ("Fox Marble" or the "Company")
First consignment of polished marble to Marble Dino, Kosovo
Fox Marble, the AIM listed company focused on marble quarrying
and finishing in Kosovo and the Balkans region, announces that it
has completed its first sale of polished marble slabs from its
newly operational factory in Lipjan, Kosovo. The material was
purchased by Marble Dino Sh.p.k. a division of a large, local
construction company in Kosovo.
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
EUR1,500,000 worth of resined and polished marble over a twelve
month period from the date the factory became operational. Marble
Dino is a trader of marble and other commodities and is involved in
the purchase, shipping and resale of the material in the Kosovo and
the Balkans. The first consignment, of just over 13 tonnes of
polished slabs of Bianco Illirico and Illirico Selene material, was
collected from the factory site by Marble Dino on the 24 October
2017. The Company expects to continue delivering marble against the
agreement over the remainder of 2017 and the 2018 financial
years.
Further orders are being prepared in Fox Marble's factory for
delivery to the local Kosovo and Balkans market and other
international customers.
Chris Gilbert, CEO, commented: "Our fully operational factory
gives Fox Marble access to a wider market for its processed
material, and contributes to the continuing progress of the Company
in 2017 and future years."
A short video showing the operation of the polishing line is
available on our website at
https://www.foxmarble.net/photos-and-videos/
For more information on Fox Marble please visit
www.foxmarble.net or contact:
Fox Marble Holdings plc
Chris Gilbert, Chief Executive Tel: +44 (0)
Officer 20 7380 0999
Fiona Hadfield, Finance Director Tel: +44 (0)
20 7380 0999
Cairn Financial Advisers LLP
(Nomad)
Liam Murray Tel: +44 (0)
20 7213 0880
Brandon Hill Capital (Joint
Broker)
Oliver Stansfield Tel: +44 (0)
20 3463 5000
Beaufort Securities Limited
(Joint Broker)
Elliott Hance Tel: +44 (0)
207 382 8300
Yellow Jersey
Felicity Winkles Tel: +44 (0)
Georgia Colkin 7748 843 871
Katie Bairsto Tel: +44 (0)
7825 916 715
Tel: +44 (0)
7946 424 651
Notes to Editors:
Fox Marble (AIM:FOX), is a marble production, processing and
distribution company in Kosovo and the Balkans region.
Its marble products, which includes Illyric White, Illirico
Selene, Grigio Argento and are gaining traction globally both to
international wholesale companies as well as being supplied
directly into luxury residential properties. In the UK these
include among others St George's Homes and Capital and Counties
Plc's Lillie Square development. In Sydney, Australia Rosso Cait,
Alexandrian White and Breccia Paradisea marble have been used in
what is expected to be Australia's most expensive property. These
sales serve to demonstrate the desirability of Fox's premium marble
products as the stone of choice in some of the most prestigious and
expensive residential developments around the world.
Fox Marble holds 40 year mining licences for six separate marble
quarries with a maiden JORC resource indicating an in-situ
valuation of approximately Euro 16.5 billion. Fox has taken three
of the six sites into production (the Drini and Maleshevë quarries,
both in Kosovo and from the Prilep Quarry in Macedonia) and
continues to increase production. Notably, Fox has access to over
300 million cubic metres (over 1bn tons) of premium quality
marble.
Marble demand continues to grow with stable pricing,
predominantly driven by the construction and real-estate
industries, on which Fox is looking to capitalise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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