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).

tipped in shares mag today I believe and the sp has gone down !.... usual kiss o' death! reaction to a mention in shars mag....(not in these myself)

lol -- lets hope this recovers asap

2 September, 2008


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


Polo intersects 33.5m of coal in South Gobi at Hud Project

Significant coal seam discovered in South Gobi license area

1,029 metre, nine hole appraisal drilling programme completed

Further appraisal of deeper coal seams planned

Polo has intersected a significant coal seam following the completion of a 1,029 metre, nine hole appraisal programme at its Hud project in the South Gobi Basin which is located 75 kilometres from the world class Tavan Tolgoi Mine site. A summary of the coal intersected in these holes is included below.




Significantly a coal seam of 16.5 metres apparent thickness was intersected at depth in hole HUD005 indicating that thicker coal is present at depth and the early holes only drilled the thinner upper seams and needs to be extended to depth. The prospect is displaying multilayered seams with continuity over 6 kilometres at surface. These holes are considered significant with drilling occurring over a strike of 1.5 kilometres.




Given the Permian Age of the host rocks which correlates to Tavan Tolgoi coal age and the high reflectance values of the coal intersected, this would suggest this coal needs to be tested for coking properties.


Neil Herbert, Deputy Chairman said:

'We are very pleased to be able to bring you these positive results from our South Gobi license area.

'Drilling at the Hud Coal Project continues to advance well with significant coal intersections. We look forward to testing the coal for coking properties and reporting the results of the drill programme in due course.'

Contacts:

Polo Resources Limited

Neil Herbert, Deputy Chairman
Tel: +27 11 269 4906

Canaccord Adams

Mike Jones
Tel: +44 (0) 207 050 6500

Financial Dynamics

Ben Brewerton

Edward Westropp
Tel: +44 (0) 20 7831 3113








Total Meters Drilled
1029.4

Note: The intersections quoted above are from geological on-site logging and confirmed by down-hole geophysical logging. Down-hole coal analyses have not yet been completed.




About the Company

Polo is an emerging energy company focused on acquiring and developing advanced stage coal and uranium properties in Asia and Australia. For complete details on Polo Resources Limited, management encourages investors and interested parties to view its public documents filed on AIM Exchange at www.poloresources.com.




CAUTIONARY STATEMENT

The AIM Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.


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

I like the statement of possible "coking coal". But i think the market reaction to
all the news, suggests they require a better idea of the type returns that can be expected from this part of the world?
cyril

Polo Resources Limited

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

Notification concerning interests in shares of the Company

The Company was informed on 2 September 2008 by Morgan Stanley that as at 28 August 2008 Morgan Stanley Securities Limited holds an interest of 92,414,000 ordinary
shares, representing 4.93% of Polo's issued share capital.

Sept 23 (Reuters) - Sept 23 (Reuters) - British coal miner Caledon Resources
Plc on Tuesday said Polo Resources Ltd upped its stake in the company to about
55 million shares, or 26.3 percent, from about 54 million shares.
Australian coal investment company Polo has been gradually raising its
interest in Caledon since March, when it bought 11 million shares, or a stake of
over 6 percent.
cyril

is this worth buying into ??? ive had my eye on this company for some time now?? can anyone inliten me???

Their far less risky stock about, if your interested in coal CHL or CBM?

cyril

llewellyn (post 77).

IMO yes.

In summary,resource update due any time now,"Ereen" project to start commercial production next month.(1 million tonnes of coal per year) with ready markets in China, Russia and Japan.(200 million tonnes in total).

"Erds" project,east of Mongolia reckoned to contain 750 million tonnes of coal.

"South Gobi" project, the "jewel in the crown."

29.8% stake in GCM. (Global Coal Management)

27% stake in CDN. (Caledon Resources)


All for a market cap. of 81 million. DYOR.

Polo as i mentioned is for me a risk, yes it has potential vast resources but where the problem rises is that we know not how much they will recieve for the
coal when produced? Mongolia is usually very demanding when it comes to royaties and taxes,so for that reason i urge caution?
CHL is exactly the opposite with a Goverment contract to supply 2 new power stations in 2010 and expects to start producing in just over 14 months? Its 20year contract is off the top my head, is for iust under 900,000tonnes/year initiallyand i price at a slight discount to the market price.
CBM assets in WTN alone are equivilent to its market capital, and WTN is up for sale and will probably double in value if taken up? It has the assets of CHL,50%
of the Welsh coal company Energybuild and further assets in a gold producer.
Those are my thoughts, however to each is own?
cyril

Multiple Coal Seams in Early Drilling at the Val Project, Mongolia

Second significant coal seam discovered on Polo's South Gobi license areas

Polo Resources, the natural resources investment and mining company, is pleased to announce results from the initial drilling programme on its Val exploration project in the South Gobi basin. A total of 6 holes for 470 metres have been completed so far, spread out along 1 kilometre of strike of the outcropping coal; the results of these holes are shown below. Mapping and trenching work has uncovered coal over 8 kilometres in this region and shows that the system consists of multi-layered coal seams with up to 19 metres apparent thickness. Hole VAL005 has intersected a total of 4 seams with apparent thickness of greater than 4 metres, being 9 metres, 7 metres, 4 metres and 19 metres in a hole of total depth of 96 metres. This is a significant discovery and the Company is planning step outs to evaluate the potential of this hole.

The Val Project is situated in the central part of the South Gobi basin between Tavan Tolgoi (reserves of over 6 Bt of coal), and South Gobi Energy Resources ('SGS') (Ovoot Tolgoi project with reserves - including indicated and infe

Multiple Coal Seams in Early Drilling at the Val Project, Mongolia

Second significant coal seam discovered on Polo's South Gobi license areas

Polo Resources, the natural resources investment and mining company, is pleased to announce results from the initial drilling programme on its Val exploration project in the South Gobi basin. A total of 6 holes for 470 metres have been completed so far, spread out along 1 kilometre of strike of the outcropping coal; the results of these holes are shown below. Mapping and trenching work has uncovered coal over 8 kilometres in this region and shows that the system consists of multi-layered coal seams with up to 19 metres apparent thickness. Hole VAL005 has intersected a total of 4 seams with apparent thickness of greater than 4 metres, being 9 metres, 7 metres, 4 metres and 19 metres in a hole of total depth of 96 metres. This is a significant discovery and the Company is planning step outs to evaluate the potential of this hole.

The Val Project is situated in the central part of the South Gobi basin between Tavan Tolgoi (reserves of over 6 Bt of coal), and South Gobi Energy Resources ('SGS') (Ovoot Tolgoi project with reserves - including indicated and inferred - of 404Mt coal).

The area is hosted by an Upper Permian Sedimentary Sequence that also contains the SGS mine and is located in similar setting adjacent to well banded sandstones of Triassic age. The area is 62 kilometres to the North East of the SGS-MAK mines and is the northern limb of the large anticlinal feature dominating this part of the South Gobi basin.

The project is 87 kilometres from the Ceke loading station on the Chinese border making this project well positioned for the sale of coal into China. Samples have been submitted for analysis to the Central Laboratory of Mongolia and the results will be announced in due course. Areas of Permian coal in the South Gobi coal basin typically have coking coal properties ranging from 30% to 80% content.

Neil Herbert, Deputy Chairman of Polo Resources said: 'Early results from both of our initial exploration projects in the South Gobi coal basin have been most encouraging. We look forward to continuing to progress both of these together with the remaining nine project areas in the region, while at the same time bringing the Ereen coal mine to production in the coming weeks.'
cyril

Been researching this, looks interesting but there seems to be many large sells in recent weeks?

A sign of the times ! But yes one to watch !

below 3p, glad I held on but is this a screaming buy now?

I think so !!

Hope so as I got in last thursday, if they do achieve eps of 4.9p in 2010 then current sp will be bargain basement. May add later as story unfolds.

Polo Resources says retains strong financial position with $81 mln in cash
AFX


LONDON (Thomson Financial) - Polo Resources Ltd. said it retains a strong financial position with $81 million in cash and added cash burn has been reduced by $1 million per annum.

The mining company said coal production has started in Mongolia.

The company expects the Ereen coal mine to become cash generative during the fourth quarter of 2008 and said the resulting funds will be used for the exploration programmes underway in the South Gobi Basin.

The company said it continues to evaluate strategic options regarding its 26.3 percent interest in Caledon Resources Plc. and its 29.8 percent interest in GCM Resources Plc.

TFN.newsdesk@thomson.com

Added earlier this week and nice to log-on and see sp increasing with good buying.
May well add again.

Andy i'm pasting my CDN post,

Yes i agree that polo are worth looking at now, its been worked out that the
value is worth over 4p alone for their holdings in CDN and GCM+ cash. Of course with the Mongolian assets which we are led to believe will show profit this quarter, makes it well undervalued.
Back to CDN and todays rise, trading around 28p is stunning and just goes to show that its possible to pick up some real bargains at present.
cyril