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).

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 ???

CALEDON RESOURCES PLC



NOTIFICATION OF MAJOR INTERESTS IN SHARES



Caledon Resources plc (the 'Company') (AIM: CDN, ASX:CCD ) announces that it was notified on 25 June 2008 by Polo Resources Limited that, following the purchase of Ordinary shares of 5p ('Ordinary Shares') on 23 June 2008, Polo Resources Limited is now interested in 49,485,196 Ordinary Shares. This shareholding represents 23.91% of the Company's present issued share capital.



The shares acquired are held in the name of Pershing Nominees Limited and Bank of New York (Nominees) Limited on behalf of Polo Australasia Limited, a wholly owned subsidiary of Polo Resources Limited and in the name of Polo Australasia Limited.

this goes down every day recently.....bombing down

bad week for a lot !! Have you seen TMC chart scot !!!

i'll check it out

nice start to the day

POLO RESOURCES LIMITED

('Polo Resources' or 'the Company')




COMPLETION OF 28 DRILL HOLE PROGRAMME ON KHASAAT COAL PROJECT IN MONGOLIA




Polo Resources (AIM:PRL), the natural resources investment and mining company, is pleased to announce the successful completion of a 28 drill hole programme on its Khasaat coal project in Sayshand Province, Mongolia.




The programme, completed in three months using 2 Universal drill rigs, was comprised of five diamond drill holes and 23 open percussion drill holes with a total of 3,245 metres drilled. The programme was designed to validate a non-compliant resource estimate dating from 1990 which was based on 68 diamond drill holes. The 28 drill holes were drilled on a 400 x 400 metre pattern over the license area (133Ha).




Coal was intersected in all 28 drill holes and occurs as a flat multilayered seam with demonstrated continuity. Seam thickness ranged from 25 to 70 metres true thickness with depths to top of contact ranging from surface to 55 metres. This highlights the low strip ratios (estimated at approximately 3:1) that would be required to mine the deposit and its high suitability for open pit extraction.




SRK Consultants has been engaged to complete a resource statement for the deposit in accordance with internationally recognised standards (JORC Standard). Once complete Polo Resources intends to submit the resource statement for submission to the Mongolian Government and seek to progress the Exploration Licence to a Mining License for this project.




Neil Herbert, Deputy Chairman of Polo Resources, said:

'The project is conveniently situated for coal export lying 70 kilometres from the nearest railway terminal and approximately 205 kilometres from the Chinese border. Khasaat coal is typically good quality thermal coal much in demand in China and the project's thick seams and low stripping ratios indicate attractive extraction costs'.




The information contained in this announcement has been reviewed by Paul Ingram, CEO & Director of Polo, P.Geo, AIMM, MICA, BSc Geo. Mr. Ingram has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Qualified Person for the purposes of this announcement.



As I said in post 37 !! : )

After yesterday's news this, surely will put a smile on your face.
http://www.investegate.co.uk/Article.aspx?id=200807010700109328X
cyril

Not much of a rise considering the news

Give it time to .. slow but sure....Interesting to see what happens with GCM over the next two weeks or so !

Its still at the stage of jam tomorrow, its the difference between investing and trading. Just a lot of patience required?
cyril