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).

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

Andy that valuation should have read CDN,GCM and cash = over 4p,have edited the previous post.
cyril

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