Fox Marble Holdings PLC New Material and Orders (3188N)
January 17 2019 - 2:00AM
UK Regulatory
TIDMFOX
RNS Number : 3188N
Fox Marble Holdings PLC
17 January 2019
17 January 2019
Fox Marble Holdings plc
("Fox Marble" or the "Company")
New Material and Orders
-- Commercial extraction commenced of Alexandrian Blue marble from Prilep Quarry.
-- 441 tonne order of Alexandrian Blue completed and paid in December 2018.
-- Sales agreement entered into with an indicative value in excess of EUR1 million.
Fox Marble announces the start of commercial extraction of
Alexandrian Blue from our Prilep quarry in Northern Macedonia.
Alexandrian Blue has dense blue grey banding with smaller bands of
white which produce a marked blue tone and is akin to the highly
desirable Zebrino marble from Northern Italy. The quarry, which is
already producing the highly sought after white marble marketed as
Alexandrian White, is now also producing substantial quantities of
Alexandrian Blue from a newly developed section on the East side of
the quarry.
Fox Marble sold, and received payment for, 441 tonnes of
Alexandrian Blue extracted in December 2018 to a single customer.
This material compliments the Alexandrian White from the same
quarry, as well as the highly popular Illirico Selene from the
Maleshevë quarry in Kosovo.
Following this order, the Company entered into a sales agreement
with this customer to purchase Alexandrian Blue with an expected
value in excess of EUR1 million over the next twelve months.
Under this sale and purchase deed the Company agrees to supply a
minimum monthly quantity of Alexandrian Blue blocks for a 12 month
period, commencing 16 January 2019. The indicative value of the
agreement is dependent upon the company making available sufficient
material to the client to meet the minimum monthly commitment.
Fox Marble is now focussing on penetrating the markets in Italy,
India, China, Turkey and Dubai where it has established a base with
its most popular marbles, the Alexandrian White and Illirico
Selene, with material from the Cervenilla quarry including Argento
Grey, Rosso Cait and Flora, and Syriganë quarry which contains
Breccia Paradisea and Etrusco Dorato.
Chris Gilbert, CEO, commented "Orders of our premium material
are gaining traction and we expect to see growth in our sales in
2019. This will produce a corresponding increase in our revenues
during the year as a result, and l look forward to updating the
market accordingly".
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For more information on Fox Marble please visit
www.foxmarble.net or contact:
Fox Marble Holdings plc
Chris Gilbert, Chief Executive Officer Tel: +44 (0) 20 7380
0999
Fiona Hadfield, Finance Director Tel: +44 (0) 20 7380
0999
Brandon Hill Capital (Broker)
Oliver Stansfield Tel: +44 (0) 20 3463
5000
Cairn Financial Advisers LLP (Nomad)
Liam Murray / Sandy Jamieson Tel: +44 (0) 20 7213
0880
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 Illirico Bianco, 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 residential
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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