Polo Resources Share Discussion Threads

[paleje] 19/8/2016 08:53

The Aussies seemed happy enough with it, closed at $1.11 about 3% down from recent highs. But it had been racing so no surprise really. I guess POL didn't partake or they would have said so their % will have reduced but the value hasn't and should continue increasing.

[acamas] 19/8/2016 08:37

Is their MktCap A$295 million? If so A$25 million seems a sensible sum to myself. I guess a small reverse then onwards and upwards

[acamas] 19/8/2016 08:16

Can we infer somehow if POL was a partaker in the placement? Plus what % is $25 million of BLK's Market Capital?

[irishlass2] 19/8/2016 07:30

Polo Resources Limited (AIM: POL), the natural resources investment company with interests in oil, gold, coal, copper, phosphate, iron and vanadium, is pleased to announce that its investee company, Blackham Resources Limited ("Blackham") (ASX: BLK) has raised approximately A$25 million through a placement of approximately 25 million new shares at a price of A$1.00 per share to fast track expansion plans. The placement price represents a 2% gross discount to the 5 day VWAP prior to Blackham entering into a trading halt on 17 August 2016. The raising was oversubscribed and received strong institutional support.

The Placement proceeds will be used at Blackham's 100% owned 5.1Moz Matilda Gold Project ("Matilda") with the aim of:

· expanding the oxide and free milling resources and reserves

· growing the sulphide open pit and underground mine plan and reserves

· fast tracking the plant expansion study and sulphide circuit refurbishment

· strengthening the balance sheet and increasing working capital

Blackham reports that Matilda gold production is targeted within 3 weeks:

· Matilda open pit mining is into ore

· Plant refurbishment and new tailing dam near completion

· Power station has been commissioned and 290 room mining camp fully operational

[888icb] 19/8/2016 07:27

Polo have now issued an RNS reporting the Blackham placing but have made no comment on whether Polo participated. I am inclined to assume that Polo have not participated.

[spights] 19/8/2016 07:23

Fantastic news
Yehaaaaaaaaaaaaaaaaaaaaaaaaa

[paleje] 19/8/2016 06:52

Thanks spights, so its to expand resource, expedite progress and bolster balance sheet, fair enough, apparently oversubscribed and only a 2% discount. Head and shoulders above most AIM placings:)

[paleje] 18/8/2016 08:42

Perhaps they have an acquisition in mind. We'll know in the morning.

[888icb] 18/8/2016 07:25

It says it's for a proposed capital raising in the letter Blackham sent to the Australian stock exchange requesting the trading halt.

[pembury] 18/8/2016 06:55

what makes you think it is a capital raising?

[spights] 17/8/2016 22:15

Seems odd reading this why
they need to raise more money

[spights] 17/8/2016 21:31

I hope they will put more monies intoBLK

[roomb] 17/8/2016 20:20

I wonder whether Polo can get involved in the capital raising ...

[failedqs] 17/8/2016 07:17

A capital raising by Blackham - Not sure how to react to that, but given their progress I trust their management to be doing the right thing.....

Nice to see Polo recovering a bit the past few weeks.

[sh0wmethemoney] 17/8/2016 00:49

Trading Halt on Blk

[spights] 16/8/2016 21:25

www.businessnews.com.au/article/Blackham-surges-as-first-gold-pour-imminent

[spights] 16/8/2016 18:04

www.businessnews.com.au/article/Blackham-surges-as-first-gold-pour-imminent

[spights] 16/8/2016 17:59

hxxps://www.businessnews.com.au/article/Blackham-shares-run-again-on-high-grade-intercepts-in-Wiluna?utm_source=Business+News+Mailing+List&utm_campaign=8e4bb37ff0-dba&utm_medium=email&utm_term=0_e5391356e5-8e4bb37ff0-289406073

[spights] 16/8/2016 17:17

hxxps://www.businessnews.com.au/Company/Blackham-Resources

[pembury] 16/8/2016 10:57

180k buy over full offer

[roomb] 16/8/2016 09:10

Showmethemoney-you could also add in the value of POL's 10.2% in Hibiscus - about £5.25M
So those three alone are worth about 110% of POL's market cap. Then there is the cash- and Ironstone and everything else. So 6p is looking very low.
In March of this year POL had $15.7 M cash. But how much is left now?

[pembury] 16/8/2016 08:51

holding up?
not invested and done no research but charting says 60p+, few years back though?