Polo Resources Share Discussion Threads

[roomb] 31/12/2016 11:51

"In the report Mr Tang refers to short term investments as being no more than 3 months, I am sure I read a few minutes ago." I can't see that.Where?

[airdrie] 31/12/2016 11:20

Roomb, I did apologise for $/£ confusion. Fat thumb mistake but most posters would have realised this.
Your digging yourself deeper in a hole. you made a mistake, your forgiven, no problem, move on.
The poster who started the confusion remains tellingly quiet.
Let's draw a line and move on.

The potential that could be created is is extremely encouraging. Hopefully Tang and crew can raise Polo's profile in Asia and draw in more invest. Now that would be a catalyst to bigger and better things.

[acamas] 31/12/2016 11:04

roomb,

In the report Mr Tang refers to short term investments as being no more than 3 months, I am sure I read a few minutes ago. They do not hedge but they may on sound advice invest in currencies as they have money in America, Oz, Canada and UK

[roomb] 31/12/2016 11:00

"Short term investments" are not the same as cash and by definition are not immediately available for up to a year. But at least we've agreed that we're talking about dollars not pounds.

[acamas] 31/12/2016 10:57

If anyone is interested note 21 that accompanies the R&A explains why the BoD needs this liquidity of $20 million

[acamas] 31/12/2016 10:40

Hi Folks,

This is what Mr Tang has signed his name to




"As at 9 December 2016, the Group had a net
position of cash, receivables and short term
investments of USD20.29 million (30 June
2016: USD20.83 million)."


My accounting knowledge based on that wording leads me to read that as a positive current assets position

[airdrie] 31/12/2016 10:38

Roomb the other posters have explained where the money is and how much. I can understand how your confusion could occur but the posters are correct. The facts are there in the report. There is no conspiracy the figures are there in black and white. Please re-read carefully.
I understand your dividend idea but I believe the money would be better invested as it would, hopefully, grow exponentially therefore providing better value. Of course patience is required as with most investments.
I believe Tang and team are going to do extremely well for Polo. I just hope the directors align their interests with ours as it's Aim and sometimes corporate governance is "questionable".
I would prefer the team stay away from Africa for many reasons and focus on Asia as the region is generally more stable and not reliant on commodities.
All in all I'm pretty pleased with the teams recent performance and taking an active approach to get the share price moving.
As far as the 25% fall you mentioned :- commodities sector is volatile hence why the team want to diversify away from it.
You must surely understand this??? Do you not agree??

[roomb] 31/12/2016 10:09

From the most recent statement June 2016: "Cash and cash equivalents

9,615" That's in dollars, by the way. That means $9.6 Million.

In June 2015 it was $21.550m.

[acamas] 31/12/2016 08:31

888ICB,

I have not read the reports but accepting that the $20 mill exists and we are a commodities investment vehicle then the cash sits there waiting for the right opportunity to come along. Then it will be employed to grow the company rather than asking the share holders for more funds to do the same thing, I would guess?

[888icb] 30/12/2016 23:53

Let me tell you what I think so you are quite clear.I think the information contained in the Annual Report which is signed by the Chairman, contains accurate financial information . In the Financial Review section there is a sub heading Financial Position which I suggest you read slowly so you understand what it says.The figure you are looking for is USD20.29 million.When you have read this perhaps you could explain why this money is not available for investments and if it is not available for investments what is it for?

[roomb] 30/12/2016 21:39

Spights-what do you mean by "lighten up"? I've simply been stating some facts about the share price.I haven't been whooping with joy because the share price just dropped 25%.I just couldn't see the relevance of you posting a link to the Centamin website because there has been no news since October. Why did you post it? I questioned the statement that there was £20 million in cash in Polo's coffers when as far as I can see there is much less according to figures released this June.That's relevant because Polo will be limited in what it can invest in new areas. Now 888ICB has changed the alleged £ to $ but still believes that Polo has $20m to invest. Or does he-I'm not sure what he thinks exactly. Airdie-I think Tang could follow Dattel's example and announce a special dividend to be paid to shareholders following a sale of one or more holdings.That would help to reduce the discount to NAV and would return value to shareholders. Like many people, I'm not in a position to travel to the AGM.

[airdrie] 30/12/2016 18:57

Gracefully put and agree 100%

[airdrie] 30/12/2016 18:28

Shaz the post was for you to answer as well.
Would be very interested to read your views and ideas.

Apologies for the confusion. I meant $ not £.

[spights] 30/12/2016 18:14

Roomb most of us have been here for many years and happy to hold.
I had a dividend here of over 30,000 pounds +another smaller one
My reason for holding is the paid investments we hold
Especially Ironstone and Blk
Please lighten up
This is a happy board even through the difficult times
We will have our day but patience is the key and knowing what you are invested in
I do not need a reply
Happy New Year

[airdrie] 30/12/2016 18:04

Correct.
Simples.

Roomb you could always sell up and move on. Why don't you. If you think Polo will fall further take out a short position.

What do you think the BoD should do to increase the SP?
What tactics should they employ to take Polo forward?
Do you hold Tang and team responsible for the commodities crash?
What should they have done different?
What would you have done different?
Are you going to the AGM to voice your concern about past performance?
What do you think about the team trying to diversify the company to hedge against the commodities sector?

Looking forward to your intellectual informed comments.

[888icb] 30/12/2016 17:45

The US$20 million figure I used is from the Annual Report statement which updated to 30th June figures to 9/12/16 figures so they are right upto date. They present this 20 million figure in the way I described cash,receivables and short term investments. This distinguishes them from the listed and unlisted investments valued at Circa US$37 million so that together Polo has a value of US$57 million.
I believe it's done that way as the receivables and short term investments can be converted virtually instantly into cash. So Polo has US$20 million available to it to support its existing investments or to use on new ones.

[roomb] 30/12/2016 17:32

Spights, what on earth are you on about? I asked about an alleged £20 million in cash.
There was only $9.6 m (Dollars not pounds) in June this year. So where is the rest of it?
It was Tang's stated aim to create value for shareholders though an increasing share price. We've just had an approximately 25% drop in share price from 8p to 6p and we are down from about 35p when Tang took over to about 6p now.

[spights] 30/12/2016 17:07

5 million here

[shawzie] 30/12/2016 16:52

It is quite clear from the Financial Summary, that at June 30, 2016 ;
CASH and cash equivalents had fallen from US$21,550,000 (June 30, 2015) to the amount shown US$9,615,000

[shawzie] 30/12/2016 16:34

Looking at the Financial Report ending June 30,2016 ;
I note that CASH and CASH EQUIVALENTS amount to US$9,615,000.
Other receivables may or may not be readily turned into CASH.

[888icb] 30/12/2016 15:16

As at 9th Dec 2016 Polo had US$ 20.23 million in cash ,receivables and short term investments. Look at the annual report.

[roomb] 30/12/2016 15:03

WTF do you mean "£20 million sitting about"? Where did you get that from?

[airdrie] 30/12/2016 14:51

Cmon the share price plummeted because of the commodities crash. The share price has recovered a good deal since the low point. Look at the year charts. Still got a good way to go yet and who knows how much potential the BoD can create. Tang and crew will want to make money on that 40p buy in.

Would anyone complain if share price was above this????

Bit of patience is all that is required.

Happy new year to all

[airdrie] 30/12/2016 14:48

Isn't there about £20 million sitting about?

Perhaps they also want to attract more directors for the Asian expansion ala the options.......might dust of my cv :-))

[pembury] 30/12/2016 11:33

if GCM comes off even more so re NAV