Introduction

Polo aims to become a major international coal mining and exploration group with additional interests in uranium and iron ore. The Company is focused on acquiring and developing interests in projects that are strategically located to serve the increasing global demand for coal, in particular to feed the robust demand of Asia.

Polo holds a diversified portfolio of coal and uranium licences in Mongolia. The geology of Mongolia is highly prospective for significant mineral deposits; however, the countrys resources have been vastly under-explored and under-developed. Polo has specifically targeted areas of significant known coal resources that are near the necessary infrastructure to export coal into the growing energy markets of adjacent China and Russia.

Polos strategy in Mongolia is to fast track into development the Union Coal Project and the Ereen Coal Project in 2008. Polo is targeting total production of 1 Mt of coal per annum commencing in the fourth quarter of 2008. Polo also plans to define 1 Bt of high quality coal resources by 2010.

Polo also holds a strategic interest in GCM Resources plc, an AIM listed (ticker code: GCM) resource development company with a wholly owned subsidiary operating in Bangladesh and investments in South Africa. GCM Resources plc is developing a coal mine and power plant project in Bangladesh, the Phulbari Project.

Market cap: 190.408m

Major Shareholders

The Company's issued share capital consists of 1,170,622,425 Ordinary Shares of no par value.

The Company does not hold any Ordinary Shares in Treasury.

As of 17 March 2008 the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are attached:

Name
Number of Ordinary Shares
Percentage of issued share capital

RAB Capital Plc
97,240,425
8.31%

TPG-Axon Partners (Offshore) Ltd
71,907,000
6.14%

Capital Research and Management Company
65,740,000
5.62%

Angstrom Capital Limited
60,000,000
5.13%

Chiropo Company SA
60,000,000
5.13%

Libra Advisors, LLC*
45,450,000
3.88%

Perella Weinberg Partners Xerion Master Fund Ltd
41,960,000
3.58%

TPG-Axon Capital
37,043,000
3.16%

Seamans Capital Management Ltd.
36,870,000
3.15%

* Note: Libra Advisors LLC is the investment manager of two funds, Libra Fund LP (holding 36,760,000 Ordinary Shares) and Libra Offshore Ltd (holding 8,690,000 Ordinary Shares).

And their's more,

Polo Resources Limited (AIM: PRL) today announced the execution of an agreement with Peabody Energy Corporation (NYSE: BTU) ('Peabody') pursuant to which Peabody would have the option to acquire up to a 50% interest in a joint venture formed to hold all of Polo's coal and mineral interests in Mongolia. The aggregate cash consideration to be paid, if all options are exercised, is US$73.2 million.

The assets to be contributed to the joint venture include Polo's portfolio of Mongolian coal licenses, with a substantial number of these licenses being located in the South Gobi coal region which hosts some of the largest coking and thermal coal deposits in close proximity to China.

In addition, Peabody would be granted warrants to subscribe for up to 15% of the fully-diluted share capital of Polo. The transaction is expected to close during the first quarter of 2009 subject to the completion of Peabody's due diligence review or otherwise at Peabody's option. The key terms of the agreement are set out at the end of this announcement.

Stephen R. Dattels, Polo's Executive Chairman, commented that 'Polo is excited about the opportunity to join forces with a company of the calibre of Peabody. This alliance will provide the mining expertise and funding required to develop our existing asset base and unlock the currently unrecognized value of Polo's Mongolian interests.'

'A joint venture with Polo's existing platform will accelerate the development of Peabody's presence in one of the world's premier undeveloped coal regions,' said Greg Boyce, Chairman and Chief Executive Officer of Peabody. 'Because Polo has existing assets, coal resources and personnel in Mongolia, this transaction advances our goal of expanding our presence in high-growth, high-margin markets.'

Peabody is the world's largest private-sector coal company. Its coal products fuel approximately 10 percent of all U.S. electricity generation and 2 percent of worldwide electricity.

Polo is an emerging energy company focused on acquiring and developing advanced stage coal and uranium properties in Asia and Australia. For complete details on Polo Resources Limited, management encourages investors and interested parties to view its public documents at www.poloresources.com.

cyril

I love this, this is not just some Peabody divisional director saying this , this is the CEO AND CHAIRMAN !

"A joint venture with Polo's existing platform will accelerate the development of Peabody's presence in one of the world's premier undeveloped coal regions," said Peabody Chairman and Chief Executive Officer Greg Boyce. "Because Polo has existing assets, coal resources and personnel in Mongolia, this transaction advances our goal of expanding our presence in high-growth, high-margin markets

First offer on the table has anyone any idea where this might be going yet?

lesbeme; were're all in the dark,waiting for further news?

cyril

Thanks Cyril, thought it was just me.

Finished the day up, 3/3.1p on nice volume 2m sells/ 6m buys from a L2 trader?

Also this sounds encouraging,

Baltic Dry index up on signs of recovery
By Javier Blas

Published: February 4 2009 11:17 | Last updated: February 4 2009 11:17

The Baltic Dry index benchmark for freight costs for dry bulk commodities such as iron ore, coal and iron rose almost 15 per cent, the biggest daily increase in almost 25 years, on signs of a recovery in the raw materials trade.

Shipping brokers said that demand for the largest vessels, known as Capesizes, was slowly recovering as Chinese steelmakers bought more iron ore from Australia and Brazil after running down their ore inventories.

cyril

Today another one moves into the 3% club.

Yes scoots and check out Friday afternoon's trading where demand would imo have caused the rise in SP.
cyril

Aye I am still keen on this one, around the 2p mark was a good price to get in at IMHO up from here !!(WITH LUCK)

Both RHPS and IC recommend buying and a mention in the FT in an article on Mongolia, so within 2 weeks of news of the Peabody deal?
cyril

Smiler; here's news to put a bigger grin on your face.

POLO RESOURCES LIMITED
(Polo Resources or "the Company")


NI 43-101 Technical Report Completed for the Union Coal Mine in Mongolia


Polo Resources Limited (AIM: PRL) announced today that it has received a
completed NI 43-101 Technical Report on its Union Project from Micromine Pty Ltd
of Australia. The report demonstrates Measured and Indicated coal resources of
44.5 and 50.2 million tonnes (Mt), respectively, for a total of 94.7 Mt. An
additional 38.4 Mt are classified as Inferred.
cyril

From RHPS;

Is this the most obviouse BUY of the year?

With Peabody's decision by the 21st and still able to get them at 2.65p?

IS THIS A BARGAIN OR WHAT?

aimho
cyril

Aye Still Smiling : )

Prl's coverage nearer the end.

http://miningbeat.blogspot.com/2009/03/some-of-aims-smaller-coal-miners-have.html

cyril

covered in what? ..... shit? coal dust? glory?

Take your pick?
I will be interested to see what happens next week,with Peabody expected to
make its mind up by the 23rd? 5 more trading days to go.

GCM up over 50%, as we hold almost 30%, should make a difference?
cyril

Some hefty buys late in the day, news by the 21st, so looking good?
cyril

SP on the move,news should be out Friday, looking for 4p++.
cyril

Put a spanner in my trading plan,

On 27 January 2009, Polo Resources Limited (AIM: PRL) announced the execution of an agreement with Peabody Energy Corporation (NYSE: BTU) ('Peabody') pursuant to which Peabody would have the option to acquire up to a 50% interest in a joint venture formed to hold all of Polo's coal and mineral interests in Mongolia.

Both parties to the Option Deed have entered into a supplementary agreement (the 'Deed of Variation') on 17 March 2009, to extend the expiry date of the Option exercise period from 21 March 2009 to 31 March 2009.
cyril