Increased Strategic Stake in Extract Resources

 

TIDMPRL 
 
RNS Number : 1772C 
Polo Resources Limited 
09 November 2009 
 

Monday 9 November 2009 
 
 
Polo Resources Limited 
("Polo" or the "Company") 
 
 
Increased Strategic Stake in Extract Resources 
 
 
Polo Resources (PRL), the AIM listed mining company with uranium and coal 
interests in Africa, Australia and Asia, is pleased to report that it has 
acquired additional shares in Extract Resources Limited ("Extract"), increasing 
Polo and its associates' aggregate interest in Extract to 25,027,849 ordinary 
shares of Extract representing 10.32% of the issued ordinary share capital of 
Extract. Polo is directly interested in 9.26% of Extract's issued share capital 
or 22,450,849 ordinary shares. 
 
 
Neil Herbert, Managing Director of Polo Resources, said: 
 
 
"We have continued to increase our investment in Extract throughout 2009 
reflecting the exceptional drill results achieved at Extract's Rossing South 
project. We continue to fully support Extract and its development plans.  The 
rapid progress being made in advancing this exceptional uranium project will 
continue to create value for Polo as Extract builds on its current mineral 
resource basis for the ongoing Feasibility Study." 
 
 
- Ends - 
 
 
Contacts: 
 
 
+--------------------------------------------------+------------------------+ 
| Polo Resources Limited                           | + 27 82 404 36 37      | 
| Neil Herbert, Managing Director                  |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Canaccord Adams Limited                          | + 44 (0) 20 7050 6500  | 
| Mike Jones/Ryan Gaffney                          |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Financial Dynamics                               | + 44 (0) 20 7831 3113  | 
| Ben Brewerton / Ed Westropp                      |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
 
 
 
 
About the Company 
Polo is an emerging energy company currently focused on acquiring and developing 
advanced stage uranium and coal projects. 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 Market of London Stock Exchange plc 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 potential values, the future plans and objectives of Polo 
Resources Limited. There can be no assurance that such statements will prove to 
be accurate, achievable or recognizable in the near term. 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 
   END 
 
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