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Fox & Eboracum Marble - lets sort this out

By Tom Winnifrith | Monday 16 January 2017

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I have been alerted by various folk to the fact that a Fox Marble (FOX) customer Eboracum Marble has a First Gazette notice out against it which, according to the knockers, means it is going bust/is a fraud and that Fox will issue a profits warning. This has seen the shares drift to 7.75p. Sometimes before you hit the sell button it pays to make a few phone calls. Which is why you should buy the shares today.

As it happens Eboracum is not the major customer, it is one of the larger customers but there are now quite a few. It has taken delivery of one order and paid for it. So it is trading.

There have been a few distractions of a personal nature for key personnel and thus the company has not filed its accounts hence the First Gazette. This matter is now in hand. And thus the company will not be struck off and dissolved and it is not a fraud. It pays to make phone calls to establish what is really going on.

Fox has missed all its targets to date by a Country mile but it does have cash and a string and growing order book with a factory able to service its customers, including Eboracum.

That is not discounted in the share price, but idle "fake news" gossip is, and that is why the shares are a buy.

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