New orders and traction gained in the US market

RNS Number : 4485K

Fox Marble Holdings PLC

25 June 2014

 



AIM: FOX                                                                                                                                  25 June 2014

FOX MARBLE HOLDINGS PLC 

("Fox Marble" or the "Company")

New orders and traction gained in the US market

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, is pleased to announce that it has received the following confirmed orders:

(a)     A container of its Grigio Argento marble to a customer in the United States of America through its distribution arrangements with Royal Stone based in New York, together with 7000 sq ft of tiles of the same material. This order will be shipped in July 2014 from Fox Marble's yard in Carrara, Italy where the marble is currently being processed.

(b)     Two further containers of mixed cut and polished sample slabs to be delivered to Royal Stone's yard in New Jersey, USA in July 2014.

(c)     Four containers of cut and polished Sivec marble for a customer based in California via its offtake agreement with Pisani Plc in the UK, subject to completion of a site visit.

The total value of these orders is approximately €215,000 and together these orders represent a significant milestone in the Company's development as revenue growth starts to be realised.

Chris Gilbert, CEO commented: "We are pleased to see evidence of commercial traction and demand for our marble particularly in the US Market. We are committed to establishing Fox Marble as a global premium supplier of marble."

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, Chief Financial Officer
Fox Davies Capital Limited (Nominated Adviser and Broker)
Simon Leathers/Jonathan Evans	Tel: [phone]
Yellow Jersey PR
Dominic Barretto Kelsey Traynor	Tel: [phone] Tel: [phone]

Notes to Editors

Fox Marble Holdings Plc is an AIM quoted natural stone extraction and production Company operating in Kosovo and the Balkans region, with headquarters in the United Kingdom.

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, Fox Marble has access to over 300 million cubic metres of premium quality marble including white breccia and honey yellow onyx.  As announced in October 2013, it now has four quarries in operation.

Fox Marble also has rights to extract grey marble from the Drini quarry and cream and white grey marble from the Malesheva quarry, both in Kosovo and white Sivec marble from the Prilep Quarry in Macedonia. 

As of Q3 2013, the Company has started to make the first sales of its high quality marble and has signed a distribution agreement with a company in New York to service the US market.

 

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