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).

Timesonline
6th June 2008

Polo Resources, the coal investor that focuses on the Far East, rose 2p to 19p as South Point Capital Advisors, the hedge fund of New Yorker Robert Butts, took a 4 per cent stake. Mr Butts bought last month a 3 per cent stake in Polos bid target GCM Resources, up p at 171p.

Looks promising, and may make a mint with a hole. :-)

Caledon Resources says Polo Resources ups stake in company to 21.57 pct
AFX


LONDON (Thomson Financial) - Coal miner Caledon Resources Plc. said coal-focused investment company Polo Resources Ltd. has lifted its stake in Caledon to about 42.46 million shares, or 21.57 percent, from 36.11 million shares, or 18.5 percent.

Polo has been gradually raising its interest in Caledon since March, when it bought 11 million shares, or a stake of over 6 percent.

In May, Caledon raised A$15 million via a public offer and placing in Australia, closed early due to strong demand.

Anybody in this one out there looks good to me

In the Times today

SMALLER COMPANIES:

'The soaring price of coal is something that may be on the mind of
Stephen Dattels, the Canadian mining entrepreneur who chairs
POLO RESOURCES, up 1p at 20.75p. Polo has increased its stake
in CALEDON RESOURCES from 18.5% to 21.6%. The company does
not have the cash to bid for Caledon at present prices, but Mr
Dattels, who chaired Caledon, is opposed to Robert Alford, his
successor. Caledon fell 1.25p to 134.75p'

12 June 2008





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




Significant New license areas acquired by Polo in the South Gobi Coal Basin




Polo Resources Limited (AIM:PRL), has increased its exploration license areas in the prolific South Gobi Coal Basin, currently holding a total of 24 licenses in this area with a further 10 licenses under option. Should Polo exercise all these Options it will hold a total license area of 6,783 km2 a significant increase from the 570 km2 previously held. These license areas contain Permian and Carboniferous age sediments that host the thermal and coking coal deposits of the region such as the Tavan Tolgoi project and Baruun Naran.




Within Polo's holdings in the South Gobi are 11 known coal occurrences. The licenses include the southern and western boundaries of the Baruun Naran Project held by QGX that extends from the Tavan Tolgoi deposit and has in recent times defined more than 200Mt of thermal and coking coal and has a prefeasibility study completed showing excellent returns.




Seismic surveying has commenced at Polo's Naruun North License that will help to define the coal located in 8 holes during the 2006 campaign. The coal outcrops over 3 km and occurs in multilayered sequences with thicknesses from 2 to 12 metres. Naruun North lies 7.8 km north of the Coal mines of MAK and South Gobi Sands and has testing which has revealed coal of similar quality. The areas are ideally situated for the export of coal into China.



A total of 43 diamond drill holes have been completed on the Union Prospect. Drilling has defined a coal seam with an average thickness of 60 metres dipping gently to the west. The maximum true thickness of coal intersected was 146 metres. Coal has been intersected over more than 60% of the 2.82 km2 license area and is exposed in the small open cut. A review of the permits associated with this mining license is underway to evaluate the potential to exploit this discovery. SRK has been appointed to complete a resource calculation for the project.




Neil Herbert, Deputy Chairman of Polo, said:




'Polo is focusing on the South Gobi Coal Basin which produces high quality coal for export to China and thereby positioning the Company in respect of the anticipated significant growth in both coking and thermal coal production in this strategically important region.'

Lets hope we see forward movement

GCM flying today, i wonder if PRL still own 29%(40m) if so a good return which should help the valuation?
cyril

Yep they doo !!!!!

Just wondering where Morgan Stanley are getting all their shares from?
cyril

hbos, lol

Caledon Resources says Polo Resources ups stake in company to 22.45 percent
AFX


LONDON (Thomson Financial) - Coal miner Caledon Resources Plc. said coal-focused investment company Polo Resources Ltd. has lifted its stake in Caledon to 44.34 million shares, or 22.45 percent, from 43.26 million shares.

Polo has been raising its interest in Caledon since March, when it bought 11 million shares, or a stake of over 6 percent.

On June 12, Polo terminated its discussions with GCM Resources Plc. regarding its 175 pence a share possible cash offer for GCM.

Polo said the reason for the termination concerned the length of time it might take for the GCM board to agree to the offer, and it did not want its pursuit of other opportunities to be impacted by lengthy negotiations.

this share is plummeting!!

Guess why?

why?

Perhaps market perception sees POLO having paid quite a premium for a minority shareholding in a coal mine. If they cannot complete the purchase of CDN and no other bidder emerges what are they going to do?

IMO some of the up side over the last week was Speculation on the Bid for GCM/CDN .... but this is still a share to watch IMO at the 12p mark as not lets forget (the Mongolian Acquisition Agreement). + in the prolific South Gobi Coal Basin, currently holding a total of 24 licenses in this area with a further 10 licenses under option. Should Polo exercise all these Options it will hold a total license area of 6,783 km2 a significant increase from the 570 km2 previously held. + .30% stake in GCM which has gone from 100 to 300 in two weeks ! DYOR !

Smiler o - what you make of the latest rns ?

Caledon Resources says Polo Resources lifts stake in company to 24.44 percent
AFX


LONDON (Thomson Financial) - Coal miner Caledon Resources Plc. said coal-focused investment company Polo Resources Ltd. has lifted its stake in Caledon to about 48.38 million shares, or 24.44 percent, from 44.99 million shares.

Polo has been raising its interest in Caledon since March, when it bought 11 million shares, or a stake of over 6 percent.

On June 12, Polo terminated its discussions with GCM Resources Plc. regarding its 175 pence a share possible cash offer for GCM.

Polo said at the time the reason for the termination concerned the length of time it might take for the GCM board to agree to the offer, and it did not want its pursuit of other opportunities to be affected by lengthy negotiations.

Well IMHO PRL hold 30% of GCM @3.00= JUST OVER 43m CDN 24.4%@1.50 = JUST OVER 72m


You never Know you may even see another Bid On GCM ?? PRL @ 12p Could see some up side in the Near Future ?GCM @3 CDN@1.50 with licenses etc this should be around 15p mark at least ???