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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Polo Res.(See LSE:POL) | PRL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 4.775 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.775 | 4.775 |
| Top Posts |
|---|
Posted at 24/5/2011 07:31 by stephanie_m Tuesday 24 May, 2011Polo Resources Ltd Investment in Joint Venture in Colombia RNS Number : 1381H Polo Resources Limited 24 May 2011 FOR IMMEDIATE RELEASE 24 May 2011 Polo Resources Limited ("Polo", "Polo Resources" or the "Company") INVESTMENT IN JOINT VENTURE IN COLOMBIA Polo Resources Limited (AIM and TSX: POL) is pleased to announce that it has completed an investment of approximately US$4 million in the gold exploration company Andina Gold Corp. ("Andina"), a company incorporated and registered in the British Virgin Islands. Polo has subscribed for 15,898,784 new ordinary shares in Andina at a price of US$0.244, constituting 31.8 per cent. of its issued shares (the "Subscription"). Concurrent with the Subscription, Andina issued 3,750,000 new ordinary shares (in respect of cornerstone finance) for US$506,250 (at US$0.135 per share) and a further 5,351,215 shares for US$1,364,560 (at US$0.255 per share) to third party investors (the "Placing") who have granted a power of attorney to Polo to act as their proxy as Polo sees fit in respect of the affairs of the company. Parties related to Stephen Dattels, Neil Herbert, Guy Elliott and Jim Mellon, directors of Polo subscribed for, in aggregate, 1,996,038 (at US$0.255 per share) new ordinary shares representing approximately 4 per cent. of Andina's issued shares. The proceeds of the Subscription and the Placing were used by Andina to acquire a 100 per cent. interest in a greenfield gold exploration project in Colombia (the "San Bolivar Gold Project") from R&C Group SAS ("R&C") and other parties. As consideration for the acquisition the vendors received US$3,750,000 in cash and R&C was granted 25,000,000 new ordinary shares in Andina (representing 50 per cent. of its issued shares), with the balance of the Subscription being used for working capital purposes. Andina shareholders have executed a shareholders' agreement setting out how the parties will operate the San Bolivar Gold Project. Each of Polo and R&C will have two director representatives on Andina's board of four directors and one of Polo's directors will act as Chairman. Polo has also been appointed as Operator of the exploration phase. Additionally, under the terms of the shareholders agreement all of the shareholders of Andina (with the exception of R&C) take on an historic liability of approximately US$2,900,000 in relation to the San Bolivar Gold Project. This liability will be financed by the non-R&C parties and R&C is protected from dilution should further equity be issued. 50 per cent. of the liability is due for payment in February 2012, with the balance due by August 2012. Andina is interested in applications for 29 gold concessions in the San Bolivar area of Columbia which make up the San Bolivar Gold Project. The Southern Bolívar area of Columbia is the third most important gold producing region in the country, after Antioquia and Choco. The Southern Bolivar region is known as a traditional mining district. Colombia produced during 2009 approximately 47.8 tons of gold, a figure that is expected to rise. Polo is currently in the process of finalising its proposed exploration program which it will present to the Board of Directors of Andina in the next 4-6 weeks. Neil L. Herbert, Executive Co-Chairman and Managing Director of Polo commented: "The San Bolivar Gold Project is another exciting investment by Polo Resources in South America. Working together with Andina's management and R&C Group, Polo will lead the exploration efforts of the company in Columbia in order to deliver shareholder value. This represents a large and highly prospective area for gold in Columbia. We look forward to exciting results from Andina's exploration programme." Contacts: Polo Resources Limited |
Posted at 31/3/2010 08:26 by barryrog I see GCM is moving even higher this am.Investors there reckon the Phulbari mine will be worth a £12/£14 per share but i would settle for 50% of their optimism. |
Posted at 30/3/2010 09:26 by los ricos ford - thanks. I wanted to show the possible source as well.It's all positive: 1) removes a possible dilution effect. 2) small consideration when looking at NAV. 3) reassures potential Canadian investors that company is confident about current investments. 4) shows future Canadian investors that PRL is serious about removing any potential overhang that may arise later this year. ....are the four main points. |
Posted at 26/3/2010 15:32 by barryrog i still believe investors are missing an opportunity here.for Company's keen to have access to what is forecasted to be 10% of the worlds uranium, then they need to own shares in the Co. that owns the mine. buying shares in company's that have a holding in Extract has imo very limited value and that is why i believe one of the Big Boys like Korea Electric or the Chinese National Nuclear Corp will pay a very hefty premium for direct ownership of a decent slice. |
Posted at 23/3/2010 14:03 by soundbuy Posted by Gero67 KAH threadAustralian Financial Review - March 23 - Page 27 Uranium Play Extracting Some Gains By David Ciampa Investors in small uranium play Extract Resources may not be too deterred by the Indian central banks decision late last week to raise interest rates, which accordingly caught the commodities markets off-guard. While the move may have clouded the global growth picture, Extract investors will be concentrating on the long-term demand for energy increasing especially from countries like India and the viability of the energy sources technology. The stock was the standout performer in the S&P/ASX200 Resources index last week rising as much as 15 per cent, boosted by a 14 per cent jump on Friday amid reports that two Korean groups may make a joint bid for the Australian explorer. Extract owns the Rossing South deposit considered on of the world�s most promising uranium projects adjacent to Rio Tintos Rossing mine in Namibia, which both Korea Electric Power Corp and state-run Korea Resources Corp may make a joint bid for, or even extract itself. As part of a soon-to-be completed strategic review, Extract has been talking to miners and uranium buyers about deals ranging from a stake in the project and an offtake agreement to a full takeover. Extract, which is 16 per cent owned by Rio, was one of the best performers on the S&P/ASX200 index last financial year, surging more than six-fold. But it has run out of puff in recent months and last weeks gain had the stock at its best level in about two months. Among other fast-growing economies, South Korea is one of a group of Asian countries with soaring energy needs and plans to add eight atomic plants by 2016 and export 80 reactors by 2030. Korea Electric Power vice president Chang Joe Ok said the company was interested in the Rossing South mine in Namibia owned by Extract, but added that �pricing is the most important factor. The South Korean group is reported to be undecided whether to bid for a stake in the Rossing South mine or Extract Resources itself. Canadian broker Haywood Securities has placed a $10.10 price target on the company. Rio Tinto-controlled uranium producer Energy Resources of Australia also rose last week after noting that the global financial crisis had created a slump in new mine development that may lead to improved prices for the nuclear fuel. I assume the Haywood Price Targget is in C$? If so would be ~A$10.80. Regards Steve |
Posted at 09/3/2010 08:25 by nil pd I wish I was Kerrie, but I don't have anything to add right now.To me, stock exchange listings mean access to a wider community of investors, greater liquidity and greater fund raising power. Issue of TSX listed stock - for whatever reason - to Canadian investors, say to purchase something from them (??their shares in another company), would clearly be more attractive than issuing them with LSE listed stock. I'm speculating (like you, probably) that an all-paper bid for a Canadian listed company would be easier. |
Posted at 14/2/2010 09:52 by azalea Matt Guarente(Interactive Investor) 12/2/10Is Uranium the clever 'green' investment? Extracts(no pun intended) "Either we start splitting some serious atoms, or the lights go out" One city based uranium trader(who declined to be named), says "the need for nuclear is clear. Wind and solar -you're in cloud cuckoo land if you think that's the answer. You need base loadpower and the carbon issue means its going to be nuclear". The simple maths is this: making electricity with advanced nuclear technology costs circa $16 per megawatt hour. Clean coal is $23; clean gas is $55. When the U.S.A. stands up and says its time to look at the nuclear option for real safety of sustainable supply, we should all take note. Especially investors. Uranium oxide U308. Yellowcake: the new green fuel. "Currently there are 45 nuclear reactors being built. Industry analysts UxC says there are plans for 400 new nuclear power stations currently announced -approx the same as those currently in use. By 2015, industry forecasts show uranium demand again exceeding supply. Its a great time to be a uranium miner". I totally agree on the wind power and solar energy statement. I am surprised that clean gas is so expensive. It will take 15-20 years for China and India to build enough nuclear power stations to meet their demands for electricity, which leaves coal with a clear field for some years to come- carbon issue or no carbon issue. PRL and its investors will have their day. |
Posted at 11/2/2010 16:16 by marben100 Aye, aye - Polo taking a bigger stake in Caledon: "Caledon announces a private placement of £4.2 million nominal 8.5 per cent. unsecured convertible loan notes due 2013, each with a par value of £50,000 (the "Loan Notes") to certain existing shareholders and other investors ("Placing")... ...One of the principal investors in the Placing is Polo Resources Limited; which is an existing substantial shareholder of the Company and a related party for the purposes of the AIM Rules for Companies ("AIM Rules"). As a result of Polo's participation in the Placing (being the nominal amount of £2.5m), the Placing will be classed as a related party transaction under AIM Rule 13." Cheers, Mark |
Posted at 01/6/2009 16:51 by papillon I totally agree with johnspain's comments 25cent. Institutional investors are not neccessarily smarter than your average PI. After all PRL placed 620m shares with institutional investors (offer not open to PI's) almost a year ago to the day, at a price of 13p, at a discount to the then share price Not a wise investment because within days the share price started its very rapid collapse to below that placing price. Presumably a lot of those institutional investors are still cutting their losses and selling, if they haven't already done so. When you have a large number of holdings in a fund institutional investors expect duds and often have clear outs, irrespective of the merits of the company they are selling, because their investment attention is now focused somewhere else. Its what is known as the herd effect and institutions suffer from it just as much as PI's. Value will out here in the end. PRL have some juicy holdings in U3O8 explorers and that is a sector with bags of potential. The institutions dumping PRL have kept the share price artificially low; a good chance then to pick up cheap shares. DYOR, etc. |
Posted at 26/11/2008 07:40 by john foxx Bargains abound for long-term investors By Gary White Last Updated: 11:29PM GMT 25 Nov 2008 Taking over the Questor reins during a financial crisis of historic proportions is more of a blessing than a curse. Today's markets offer some fantastic opportunities for investors taking a long-term view. You should be clear, however, that it will be a volatile ride. Equities have borne the brunt of losses in part because highly liquid stock markets have been the first port of call for nervous investors seeking ready cash to meet liabilities elsewhere. This has been the year of the margin call for hedge funds, and other highly geared investors, which has made it painful for all. The falling market has not paused to consider fundamentals or a company's prospects, everything is down regardless. The dollar's strength, and weakness of emerging markets, is another manifestation of this as investors have adopted a "riskiest first" attitude to selling. Much of the dollar's recent strength is down to deleveraging. The prospects for US Inc are dire. If fundamentals were driving the currency markets, the dollar would be in free fall. The US auto industry is on the brink of collapse, the deficit continues to grow at an eye-popping $4bn (£2.6bn) a day and the unemployment rate is forecast to hit 9pc by the end of next year. Things really are bleak. The UK economy is suffering alongside and will continue to hurt in 2009. The prospects for a country's economy are generally reflected in its currency and the pound has been falling fast. Questor does not expect a recovery in the pound for quite some time. It is therefore vital that UK investors first consider companies with substantial operations abroad. Foreign earnings are boosted by any fall in sterling and Questor believes that other economies are likely to start to show signs of recovery before the UK. Despite painful losses, it is important to continue to drip-feed parcels of cash into the markets at this time to make the most of falling prices. At the moment most valuations are discounting some kind of economic Armageddon, but what we are seeing in truth is a very painful but nonetheless necessary correction. It may take some time for markets to recover, but recover they will. The deleveraging panic has hit emerging markets especially hard, but now looks like a good time to position investments for future growth. This means investing directly in emerging-market companies or through collective investment funds, as well as looking at UK-listed groups with a big exposure to these markets. Another battered asset class is mining. The sector has been in a bear market for months as the prices of metals slumped from historic highs at breakneck speed. Questor sees these falls as overdone. What is happening today indicates another leap in commodity prices in the next few years. Virtually all metals are now trading significantly below their marginal cost of production. This means the metals cost more to dig out of the ground and purify than producers can get for their wares in the open market. Some metals are trading as low as 30pc below their production costs. This obviously can't continue. Mines are already starting to close all over the world and there will be more. New projects will also be put on hold as falling prices make some projects uneconomic and funding will also be hard to come by. This will lead to a run-down of inventories. When the economy does rebound, there will be another supply crunch and prices will go through the roof. The question is when this will happen? The most optimistic view would be the second half of 2009. Similarly, Questor believes that the oil price will recover. The marginal cost of production for oil majors is currently around $50 a barrel. New sources of oil, such as the Canadian oil sands, have production costs of about $70 a barrel. Most of the "easy" oil has already been exploited, with new finds likely to be in expensive deep-water environments. It is important to note that oil demand is still rising. Oil consumption growth in emerging economies is expected to more than cancel out falling demand in the West. The International Energy Agency expects global daily demand to rise by 350,000 barrels next year. Questor also intends to recommend exchange-traded funds and exchange-traded commodities to make the most of the mining sector when it booms again. Falling share prices mean value is being revealed all over the market, not just in oil, commodities and emerging markets. In these conditions, the key things to look out for when making an investment are cash and debt. Questor will be looking at good businesses across all sectors with solid cash flows and minimal debt. In an environment such as these, boring can be best. Questor is also going to have a close look at the healthcare and biotechnology sectors. The global population is ageing and getting richer, which implies a perpetual bull market for the medical sector. It is important to note that Questor is an investor and not a trader. There are plenty of opportunities for traders, but there are also plenty of chances for them to lose money as well. The market may not have hit its bottom yet. There may be more sell-offs over the next few months and there will be many profit warnings. However, companies which survive the turmoil will recover to sensible valuation levels in due course. The current market really is full of bargains for investors with a sensible time frame. It's going to be Questor's job to find them for you. Everything that is tipped will be included in a Questor portfolio which will be regularly updated and valued online at telegraph.co.uk/fina |
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