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).

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

D/Post
cyril

Polo Resources Limited
('Polo' or the 'Company')




Polo expands uranium interests with acquisition of significant interest in Berkeley Resources Ltd




Polo Resources Limited (AIM:PRL), announces that it has signed a subscription agreement with Berkeley Resources Ltd ('Berkeley') pursuant to which, subject to the conditions (described below) being satisfied, Polo will subscribe for 10 million new ordinary shares in Berkeley at AS$0.50 each (the 'Subscription Shares'), and will be granted 5 million attaching options over new ordinary shares in Berkeley, exercisable at AS$0.75 each, within 4 years of the date of issue (the 'Subscription Options').




Neil Herbert, Deputy Chairman, said:

'Polo is pleased to announce the expansion of its energy interests with this significant investment in Berkeley Resources Ltd which is currently evaluating a restart of the Salamanca Regional Uranium Mine in Spain. The management of Polo will be applying its significant experience in the Uranium sector which included the development of UraMin Inc which was subsequently sold to Areva for US$2.5 billion in 2007.'




The subscription by Polo is conditional on:



(a) receipt by Berkeley of the approval of the Spanish Council of Ministers for the

transaction described in the announcement by Berkeley dated 10 December

2008 ('Minister Consent'); and



(b) in respect only of 1,350,000 of the Subscription Shares and 675,000 of the

Subscription Options, the approval of the Berkeley shareholders at a general meeting of

the company (the 'Berkeley General Meeting').




Details of the Subscription Agreement




Under the terms of the Subscription Agreement, subject to Ministerial Consent, Polo has subscribed for 8,650,000 ordinary shares in Berkeley representing 7.7 per cent. of Berkeley's issued share capital (the 'T1 Shares'). Polo will pay consideration of AS$4,325,000, and as well as the T1 Shares has been granted an option over 4,325,000 ordinary shares of Berkeley (representing 3.7 per cent. of Berkeley's issued share capital on a diluted basis), exercisable for a period of 4 years from the date of grant at an exercise price of AS$0.75 (the 'T1 Options'). If exercised, the T1 Options would give Polo a direct interest in 11.13 per cent. of the issued share capital of Berkeley.




As part of the deal to acquire the T1 Shares, Stephen Dattels will be appointed as a non-executive director of Berkeley upon completion of the issue of the T1 Shares.

cyril

; ) Going the right way !

PRL ;ooks like its been screwed by Peabody, $73 down to $28m plus a 1% royalty.
sold out making +0.8p/share disappointing but still a profit.
cyril