Recommencing operations in the Cervenille quarry

RNS Number : 1425Y

Fox Marble Holdings PLC

07 September 2020

 

7 September 2020

 Fox Marble Holdings plc

("Fox Marble" or the "Company")

Recommencing operations in the Cervenille quarry in Kosovo

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region, is pleased to announce that it is recommencing operations in its Cervenille quarry in Kosovo.

The Cervenille quarry was originally developed and became operational in 2013 and was reopened last week due to increasing demand for material.  This quarry contains Grigio Argento (warm grey with gold veins) as well as Flora (grey red) and Rosso Cait (red) marble. 

Fox Marble has seen significant demand for Grigio Argento. This material has been used within high end projects such as the St Georges Homes project at Chelsea Creek in London and is currently being supplied to recently announced municipal projects at Suhareka and Podujeva in Kosovo.  The current range of orders that Fox Marble is fulfilling is utilising significant quantities of this material, and as such the Company has restarted operations at the quarry.  This will ensure sufficient stocks of block material for existing and future projects as well as the winter shut down of the quarry.

Chris Gilbert, CEO, commented :

"Through recent marketing efforts we have been seeing increasing demand for our Grigio Argento marble.  We have recommenced our operations in Cervenille to fulfil the appetite for this material. This will allow us to continue to service existing contracts for projects and allow us to continue to grow sales at the factory."

This announcement contains inside information for the purposes of Article 7 of EU 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: [phone]
Fiona Hadfield, Finance Director	Tel: [phone]
Allenby Capital (Joint Broker) Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance) Amrit Nahal (Sales)	Tel: [phone]
Brandon Hill Capital (Joint Broker)
Oliver Stansfield	Tel: [phone]
Cairn Financial Advisers LLP (Nomad)
Liam Murray/Sandy Jamieson	Tel: [phone]

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 Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales 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. 

 

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