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).

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

market doesn't seem to like the RNS issued today

initially I thought well of the deal so bought a few more ..... however Polo appear to have handed the company over to Peabody and the running of prl interests to another firm "Ampat" on a fee paying basis. Then to stir the pot further we hear of "deals" with Berkeley Extract Kalahari some of which seem to be an attempt to frustrate another company viz. Rio Tinto. Am I dreaming all this, or got the story wrong, or should someone send the men in white coats to collect me.

Does anyone understand what has happened.

Perhaps the pie is falling from the sky!

Someone up the apple cart?? 40mil sells....Wow

but taken at higher price than morning sp? encouraging?

136

Some serious buying going on today, 136million traded???
cyril

noticed this as well, its holding in CDN is doing well as well.

I wonder if Peabody want a bigger say in this??

Just maybe the rejected earlier bidder has been buying up stock ready to do a spoiler and thereby make peabody make a counter offer.

easy money for the party who made the initial takeover approach..

Been watching for a while but got into these this morning.
2517

Yep, Im in this one. it is doing good so far

All GOOD, gcm DOING WELL !!

Directors dealing as reported in yesterdays newspaper.

Deal of the day

'Polo Resources, the mineral investor that is switching from coal in Mongolia to uranium assets in Africa, placed new shares at 3.85p to raise $10 million for further uranium investments. Stephen Dattels, the founding chairman, acquired six million shares, raising his total stake from 3.89 per cent to 4.55 per cent. Other directors also bought in'.
cyril

24 June 2009










BERKELEY RESOURCES LIMITED




On 24 June 2009, Berkeley Resources Limited ('Berkeley' or 'the Company') was notified via the filing of a Form 604 with ASX, that Polo Resources Limited had a registered shareholding as at 22 June 2009 of 14,130,074 shares in the Company, representing 11.44 per cent of the issued share capital.







Enquiries - Managing Director: Matt Syme Tel: +61 417 906 717
RBC Capital Markets: Martin Eales Tel: +44 20 7029 7881

















This information is provided by RNS
The company news service from the London Stock Exchange

END


HOLEAPKLAEPNEEE

Polo acquires significant interest in Uranex NL further expanding its uranium interests into Tanzania







Polo Resources (PRL), the AIM listed mining company with coal and uranium interests in Africa, Australia, Europe and Asia, announces that it has signed a subscription agreement with Uranex NL (ASX:UNX) ('Uranex') subject to which it will acquire 5,700,000 new ordinary shares representing 5.98% of the enlarged share capital of Uranex for an investment of A$2,280,000 as part of a share placement by Uranex of 11,818,265 million new Fully Paid Ordinary Shares at an issue price of 40cents (A$0.40) per share raising A$4,727,306.



The placement is expected to be completed on or about June 26 2009.




The funds raised through the share placement will be used to augment working capital and to accelerate the exploration and development of Uranex's advanced Manyoni (Bahi) project in Central Tanzania and a second Tanzanian tenement area, Mkuju, in southern Tanzania which encompasses areas underlain by highly prospective Karoo sediments. Uranex recently commenced a Pre-Feasibility Study on the Manyoni Project, following positive Scoping Study results. The current Manyoni JORC Inferred Resource is 15 million pounds of U3O8 above 100ppm U3O8.




In addition to the its Tanzanian projects Uranex has the Thatcher Soak project in Western Australia which has a JORC compliant resource of 11 million pounds of contained U3O8 at an average grade of 290ppm U3O8, based on a cut off of 150ppm U3O8.




Stephen Dattels, Executive Chairman, said:

'We are very pleased to announce the further expansion of our Southern African uranium interests with this significant investment in Uranex. We are particularly excited by the potential of the Manyoni and Mkuju Tanzanian projects as a compliment to our holdings in Namibia and Botswana, which we see as a considerable value driver for shareholders.




Polo has assembled African uranium interests in Namibia, Botswana and now Tanzania. Its uranium interests in Southern Africa include Extract and West Australian Metals in Namibia; A-Cap and Impact in Botswana; and now Uranex in Tanzania. Polo also has an interest in Berkeley Resources which has uranium interests in Spain.'

cyril

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




Polo Resources (PRL), the AIM listed mining company with uranium and coal interests in Africa, Australia, Europe and Asia, is pleased to announce that West Australian Metals Limited (ASX: WME) in which Polo has an 11.1% interest plans to embark on an extensive drilling campaign at its 80%-owned Marenica Uranium Project in Namibia, in August 2009.




Following WME's recent A$9.9 million fund raising it is setting aside a A$5 million budget to be spent over the next six months. An initial 5,000-metre RC drill programme is designed to infill areas of wide-spaced drilling completed in 2008 to reduce the spacing from 320m by 160m to 120m by 80m. Representatives from SRK Consulting will be on on site to supervise QA/QC procedures. The new campaign will also include a 100-hole exploration program to the west of the known resource. Ground radiometrics and mapping have recently been completed in this area, which will be tested for additional secondary uranium resources.




A further 5,000m is allocated to exploration for primary mineralisation within and north of the Marenica dome following on from successful results achieved in exploration diamond drilling. The company is in the process of obtaining drill clearances, with drilling planned to start in August. Following completion of this exploration programme WME intends to begin a scoping study later this year.




Neil Herbert, Managing Director of Polo Resources, said:




'We look forward to the results from this extensive drill programme. WME has an 80% interest in Marenica and has already announced a JORC compliant Inferred Resource of 111 million tonnes at 140ppm U3O8 for 34 million pounds of contained U3O8 in near-surface palaeochannels, similar to that found at the Trekkopje uranium mine currently being brought to production by Areva which is located within 40kms and which is expected to become one of the world's 10 largest uranium mines by 2011.'
cyril