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).

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

Speculative Buy rating from Growth Company Investor

http://www.growthcompany.co.uk/recommendations/1061382/polo-resources.thtml

Polo Resources (AIM:PRL), the AIM listing company with uranium and coal interests in Africa, Australia, Europe and Asia, announces that it has disposed of 8,221,893 ordinary shares in Berkeley Resources Ltd ('Berkeley') for A$8,484,276.41, representing 6.66 per cent of Berkeley's issued share capital. Following this disposal Polo has an interest in 10,388,181 ordinary shares in Berkeley as well as options over a further 5,670,037 ordinary shares.




The funds received from the disposal will be used to meet Polo's liquidity requirements and provide resources to focus on other value adding uranium opportunities.




Neil Herbert, Managing Director of Polo Resources, said: 'Polo remains supportive of Berkeley Resources with the substantial resource base at the Salamanca Regional Uranium Project well placed to deliver into the forecast uranium production shortfall for a relatively small capital investment.'




Polo does not presently anticipate making any further sales of Berkeley shares.
cyril

PRL taking up their full entitlement from Extract fund raising, in addition they have expressed a willingness to buy shares from the fund raising that others will forego. Appears to be no shortage of funds at PRL. I'm sure these will make a mint one day. Sorry about that.
2517

SP progressing well, hope that's not the kod.
2517

Re rns---that looks like a useful chunk of coal.
2517

sp responding. I believe this has the makings of a substantial co in the future, with interests in several projects.
2517

Arather tardy annoucement regarding R/South.

Polo Resources (PRL), the AIM listed mining company with uranium and coal interests in Africa, Australia, Europe and Asia, is pleased to report that Extract Resources Limited ('Extract'), in which Polo holds 21.4 million shares (ASX:EXT A$9.29/share*), has announced confirmation of a new zone of uranium at Rossing South.

But what is interesting is the value,
21.4m *A$9.8 which is the present EXT SP = 119.5
This against a M/Cap of 105.5
add to this CDN +GCM holding along with assets in Mongolia gives a very ubderated company.
cyril

Just got into these after seeing 3 directors investing heavily into this stock...
RNS's just released

1.4m and 3m director buys @ 5p
2517

for info....sat in my inbox this one but may be pertinant
Canaccord Adams on Polo Resources*
Canaccord Adams maintained its "buy" recommendation on Polo Resources* (PRL) following the company's final results. The broker's note read:
Our view
We consider that the statement was in line with expectations.
Although the company reported a large loss, the company is effectively an investment company and therefore its working capital position and the value of its investments are considered to be of the most significance.


Key features
Polo released results for the year to June 09, on Friday 16 October, after the close of the market.
The company reported a loss of US$63 million, or 3.2p/share, after a writedown of US$44 million on its Mongolian coal assets.
Working capital at 14 October 2009 was reported to be US$17 million and the value of its listed investments US$302 million.
The statement indicates that the company has continued to build its stake in Extract Resources (EXT : ASX | not rated), which now stands at 22.4 million shares, the value of which is equivalent to 4.3p/share, accounting for 53% of the companys NAV or 86% of its share price.
The company states that it intends to make further strategic value-adding investments in advanced staged commodity projects.


Valuation
The companys current NAV is 8.02p per fully diluted, in-the-money share.
At a price of 5.0p/share, it is currently trading at a discount of 38% to its NAV.

for info....sat in my inbox this one but may be pertinant
Canaccord Adams on Polo Resources*
Canaccord Adams maintained its "buy" recommendation on Polo Resources* (PRL) following the company's final results. The broker's note read:
Our view
We consider that the statement was in line with expectations.
Although the company reported a large loss, the company is effectively an investment company and therefore its working capital position and the value of its investments are considered to be of the most significance.


Key features
Polo released results for the year to June 09, on Friday 16 October, after the close of the market.
The company reported a loss of US$63 million, or 3.2p/share, after a writedown of US$44 million on its Mongolian coal assets.
Working capital at 14 October 2009 was reported to be US$17 million and the value of its listed investments US$302 million.
The statement indicates that the company has continued to build its stake in Extract Resources (EXT : ASX | not rated), which now stands at 22.4 million shares, the value of which is equivalent to 4.3p/share, accounting for 53% of the companys NAV or 86% of its share price.
The company states that it intends to make further strategic value-adding investments in advanced staged commodity projects.


Valuation
The companys current NAV is 8.02p per fully diluted, in-the-money share.
At a price of 5.0p/share, it is currently trading at a discount of 38% to its NAV.

More good news from Extract Resources ( PRL has 9% stake)
2517

Lots of comments here, from a few posters, but I'm concerned that the Co. Polo (PRL) - is listed on AIM, yet I can't find it in (my copy of) REFS, furthermore it is registered in the British Virgin Islands, not known for its ship-tight regulation and has a Registrar in Jersey ( DYOR).

Has anyone (here), been to an AGM - where/when was it?
What was your impression of the meeting . . . . ?

Anyone else got concerns...?

Hangon,theirs a chance for anyone to attend this years AGM on the 18th Nov,its in Paris,it would make a nice break,mixing business with pleasure?
Todays news informing us of an increased stake(22.48m) in EXT amounts to a value of 110m against a M/Cap of just 105m,with a lot more for free.
cyril