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).

Today there were far more buys than sells, as the last two 2.5m trades were buys.
Wish I'd been in a position to get more this morning but these are a bargain even at 3p with 30% upside on current valuation.
Predicted in 2009/2010 for EPS of over 4p so trading on potential future PE <1.
I know in current climates PE ratios are out of the window but when things return to normal this could be a real multi-bagger as the demand will always be there for energy once the current "financial" crisis is through and coal is needed in the part of the world where they are operating, not to mention the positions in both CDN and GCM. Interesting times ahead

Interesting yes, but it would be nice to see some accounts which they don't appear to have produced since their share placing.

Well somebody thinks there'r worth a punt?




The Company was informed on 14 November 2008 by Luxor Capital Group, LP ('LCG') that as at 14 November 2008 LCG holds an interest of 94,501,000 ordinary shares, or 5% of Polo's issued share capital.
cyril

RNS Number : 3107K
Polo Resources Limited
17 December 2008



17 December 2008







POLO RESOURCES LIMITED




('Polo Resources' or 'the Company')




Ereen Mine Update




Polo Resources (AIM:PRL), the mining company focused on developing coal assets in Mongolia, announces that it is scaling back the ramp up of production at its Ereen coal mine in Mongolia as a result of the deteriorating coal market in Asia. The Company planned to reach coal production of 90,000 tonnes per month in 2009 but will postpone full production until such time that new marketing arrangements have been put into place to ensure the sales of Ereen coal. The Company's ongoing exploration programme in the South Gobi Coal Basin is unaffected and remains on schedule.

Neil Herbert, deputy Chairman, said:

'The timing of the ramp up of production at our Ereen coal mine has unfortunately coincided with a significant and un-anticipated deterioration in the Asian coal market, which has affected our ability to achieve coal sales from Ereen.

'We have significantly slowed the pace of the planned ramp up in mine production and will consider slowing it further in 2009, while alternative coal marketing opportunities and potential strategic partnerships are evaluated. Ereen is a low-cost producer of high quality thermal coal and we are confident that short term factors affecting the sale of Ereen coal in the Asian market will only be temporary and will not affect the longer term viability of the mine.'

Yet another lame duck?

no, poor coal prices in this market. out of Polo's hands.... time to wait methinks.

If They cant see that ....... ;)

RNS Number : 0723L
Polo Resources Limited
05 January 2009



5 January 2009




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




Notification concerning interests in shares of the Company




The Company was notified on 2 January 2009 by Stonehill Capital Management LLC ('Stonehill') that as of December 29, 2008, Stonehill Institutional Partners, LP and Stonehill Offshore Partners Limited had the following interests in the Company's issued share capital:




Registered Shareholder


Holding of Ordinary Shares


Percentage of issued share capital of the Company












Stonehill Institutional Partners, LP


33,766,500


1.802 %

Stonehill Offshore Partners Limited


34,363,500


1.833 %





Stonehill are investment advisors to Stonehill Institutional Partners, LP and Stonehill Offshore Partners Limited and accordingly, Stonehill are interested in aggregate in 68,130,000 Ordinary Shares representing 3.635 % of Polo's current issued share capital.

Selftrade opened offering 250,000 @ 2.25p, now 25,000 @ 2.35p. Although "O trades" most are given as sells at upto 2.42p? Bought in 1st thing, feel this is undervalued with plenty of cash and some interesting assets.
cyril

Beware EK/TW long in this one massive losses on their holding in CDN and GCM plus no coal being mined in Mongolia.

Halifax thanks for your imput, appreicated. Yes your right they've suspended
coal production until a more attractive price is attainable, as for EK. he's stating that they're a good buy upto 3p which is covered by their cash reserves, CDN and GCM are bonus. As i understand it with GCM is the permission has been granted for coal exploration, just some haggling over the level of rights payments, CDN in
cash saving mode and also waiting for coal prices to pick up.
Bit of a gamble i agree but seems reasonably safe, more of a long term punt so
patience required. aimho
cyril

WORK ON MINING DEPOSITS A PRIORITY, SAYS BAYAR
At a meeting with journalists as part of the program to mark 100 days of the government, members of the Cabinet restated their commitment to industrialization, stabilizing the banking system, and getting the economy going. The Prime Minister said, Our two parties decision to join hands in forming a government has been proved right. The unity is needed to tackle substantial economic and social problems. Our present priority is to start work on the two large mining deposits. Preliminary negotiations are under way and we should be prepared with our offer before February 1.
Mr. Bayar referred to the difficulties posed by the volatile economic situation worldwide, and hoped foreign investors would continue to be interested in Mongolias mineral resources.
Source: en.News.mn

MARUBENI OBTAINS FIRST RIGHTS TO THREE URANIUM MINES
Marubeni Corp, Japan's fifth-biggest trading company, has obtained first rights to conduct feasibility studies in Mongolian uranium mines. A company spokesman has said the success of Marubeni, set to become the first Japanese firm to acquire stakes in uranium mines in Mongolia, comes at a time when demand for the nuclear fuel is expected to rise as China goes through a nuclear building spree to boost clean energy use. Marubeni aims to obtain stakes in 2009 in three mines in Mongolia, the spokesman said, including Dornod and Gurvanbulag, developed by Canadian firms Khan Resources Inc. and Western Prospector. The company aims to start production in 2012, he said. It is unclear how much Marubeni will pay to hold stakes in the three mines, as well as for their development costs. Mongolia, whose uranium mines were abandoned after the collapse of the Soviet Union, sits on about 2 percent of the world's uranium reserves.
Source: thomsonreuters.com

Over 5m traded today,rising to 2.4p before some hefty sells late pm,probably
profit taking? With AGM due on the 23rd it'll be an interesting couple of weeks,
with cash of 52m as stated on the 19th Dec, a M/Cap of just over 40m its seems to be a fair punt imo?
cyril

Polo says Denham approach undervalues assets
MoneyAM
Coal miner Polo Resources has received an approach from Denham Commodity Partners Fund which, it says, 'signifcantly undervalues' the company's assets.

Deputy chairman Neil Herbert said, 'We are pleased with the interest shown in Polo's assets and believe it illustrates the potential resource and significant value available to the company, as well as the strategic importance of our Mongolian licenses.

'However, this approach does not appropriately reflect the value of our assets, particularly considering our strong working capital position of approximately $78 million and equity stakes in Caledon Resources(26.3%) and GCM Resources (29.8%).

'Caledon has announced that it is having discussions which may lead to an offer for the Company and GCM is working with the newly elected government of Bangladesh to move the Phulbari Coal Project forward, both of which would greatly enhance their value.'

At bargain level imho, current SP lower than the cash in hand. Couple that with its
interest in CDN (25%+, which is under offer)), GCM and of course our Mongolian assets makes this well undervalued, perhaps double digits?
cyril

Aye agree ; )

Just picked this up,

From UK Analyst
Polo (PRL) said that it has received a bid approach from Denham Commodity Partners Fund V LP, which may or may not lead to a cash offer being made for the company. Polo said the offer (which top tipster Tom Winnifrith understands was pitched at 4p) is too low. At current prices, Polo is valued at 53 million pounds. It has net cash of around 51 million pounds. Its shares in Caledon are worth 13.6 million pounds and its shares in GCM are worth 5.9 million pounds. On top of this, it has Mongolian coal assets which are in Tom Winnifrith's view - worth more than the rest of the company put together. Mr Winnifrith understands that big news from Mongolia is also imminent and moved his stance back up to 'buy at anything less than 4p'. Polo shares finished the day 0.7p higher at 2.85p.

So 40% upside on present offer, beginning to look a no-brainer?
imo
cyril

And their's more,

Polo Resources Limited (AIM: PRL) today announced the execution of an agreement with Peabody Energy Corporation (NYSE: BTU) ('Peabody') pursuant to which Peabody would have the option to acquire up to a 50% interest in a joint venture formed to hold all of Polo's coal and mineral interests in Mongolia. The aggregate cash consideration to be paid, if all options are exercised, is US$73.2 million.

The assets to be contributed to the joint venture include Polo's portfolio of Mongolian coal licenses, with a substantial number of these licenses being located in the South Gobi coal region which hosts some of the largest coking and thermal coal deposits in close proximity to China.

In addition, Peabody would be granted warrants to subscribe for up to 15% of the fully-diluted share capital of Polo. The transaction is expected to close during the first quarter of 2009 subject to the completion of Peabody's due diligence review or otherwise at Peabody's option. The key terms of the agreement are set out at the end of this announcement.

Stephen R. Dattels, Polo's Executive Chairman, commented that 'Polo is excited about the opportunity to join forces with a company of the calibre of Peabody. This alliance will provide the mining expertise and funding required to develop our existing asset base and unlock the currently unrecognized value of Polo's Mongolian interests.'

'A joint venture with Polo's existing platform will accelerate the development of Peabody's presence in one of the world's premier undeveloped coal regions,' said Greg Boyce, Chairman and Chief Executive Officer of Peabody. 'Because Polo has existing assets, coal resources and personnel in Mongolia, this transaction advances our goal of expanding our presence in high-growth, high-margin markets.'

Peabody is the world's largest private-sector coal company. Its coal products fuel approximately 10 percent of all U.S. electricity generation and 2 percent of worldwide electricity.

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 at www.poloresources.com.

cyril

I love this, this is not just some Peabody divisional director saying this , this is the CEO AND CHAIRMAN !

"A joint venture with Polo's existing platform will accelerate the development of Peabody's presence in one of the world's premier undeveloped coal regions," said Peabody Chairman and Chief Executive Officer Greg Boyce. "Because Polo has existing assets, coal resources and personnel in Mongolia, this transaction advances our goal of expanding our presence in high-growth, high-margin markets

First offer on the table has anyone any idea where this might be going yet?

lesbeme; were're all in the dark,waiting for further news?

cyril