Polo Res.(See LSE:POL) Share Discussion Threads

[soundbuy] 10/11/2009 09:13

The Times today

Rumour of the day

Shares in Kalahari Minerals rose 3p to 176¾p amid rumours that Extract, in which the group has a 40 per cent stake, may put out a particularly bullish resource update this week. Kalahari's management is visiting potential investors in the United States in an attempt to drum up further interest in the Namibia-focused group.

[zangdook] 09/11/2009 09:15

They've only bought 50k more shares, haven't they? I don't know how many more Dattels and Elliott have bought directly.

[haff1] 09/11/2009 08:16

..good newes... come on share price ...

[barryrog] 09/11/2009 08:01

must have been an early recomendation of the new Investment Committee.
i'm happy with that, i think that given the ongoing increases in the uranium resources at Rossing, the EXT share price will continue to rise over time although i still think there will be a take out in the near future - or at least an attempted one that should do wonders for the share price.

[robson1974] 09/11/2009 07:55

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."

[sitiain] 09/11/2009 06:30

ext au price is no lower i meant to say sorry
8.57 aussie

[sitiain] 09/11/2009 06:28

poor old namibia makes u think....
ect [rice is no lower

[azalea] 07/11/2009 09:57

Dattels and Mellon are co exec chairman of EML. I think there is a lot of wheeling and dealing to unfold in 2010.

[marben100] 06/11/2009 19:31

Hi X K,

Re #5657

I don't see either of those things happening.

Extract's market cap is now well over US$1.5bn. Moreover, if Extract is taken over, I don't see a deal happening for less than US$3bn. This looks like being the world's #1 or #2 U mine by annual production, with low costs. Its resources and forecast production are similar to Cameco's, whose EV is closer to US$10bn. Rossing South is the jewel in the crown - and much too large a mouthful for Polo to swallow.

Polo's investment in Caledon is currently worth around US$60m (including the loan notes) vs US$175m in Extract. As you can see, Caledon is small beer by comparison (though it is Polo's #2 investment).

Dattels is a dealmaker. What would be the point of taking over Caledon - unless Dattels believes he can buy it cheaply and sell it on relatively quickly for a significantly higher price? Most importantly, Polo only has around US$20m of cash, so Caledon could only be bought by issuing a significant number of Polo shares - which would dilute the value of the Extract stake. SD would not want to do that, as he owns a fair few Polo shares himself and isn't likely to want to significantly reduce the NTAV/share.

The game is very different now from what it was when Polo was buying Caledon shares like there was no tomorrow. ;0)

I must admit, I WOULD like some clarification of Polo's strategy and ultimate aims and am likely to go to the AGM to try to get some answers. I'm awaiting confirmation of which directors will be there. All its investments are potential or current bid targets. What will happen to the cash when they are eventually sold?

BTW, Dattels & Mellon control significant stakes in Kalahari via Emerging Metals (AIM:EML), Regent Pacific & Red Dragon. The new vehicle, AfNat, (formed from Amber Petroleum/Lithic) will also come into a reasonable number of Kalahari shares when Niger Uranium (AIM:URU)issues most of its Kalahari shares as a special dividend shortly. Until recently, an ex-Polo director (Harald van Hoeken) was CEO of Amber. I await AfNat's re-admission document to find out who the directors/major shareholders will be. ;0) [David de Jongh Weill, Caledon's chairman, is also currently chairmain of Lithic (AIM:LMY)]

DISCLOSURE: I currently have investments in Extract, Polo, EML, Caledon and
URU

Regards,

Mark

[dbno] 06/11/2009 14:38

What's happening at XTR

[barryrog] 06/11/2009 11:35

and GCM is flying - maybe there is news pending there.
the fact is that PRL has some cracking investments all of which have significant upside potential and imo it is a good core holding in anyone's portfolio.

[troc1958] 06/11/2009 11:01

A possible reason for Polo's slight move up today and higher volume trading is this mornings comment from Peabody CEO, a major Australian Coal Producer....

"Chinese coal imports are set to continue to grow strongly for metallurgical as well as thermal coal as demand for electricity and high-quality coal increases, said Peabody Energy Corp. (BTU) Chief Executive Greg Boyce said Friday at a media conference in Sydney.

China turning net importer is a structural change. We expect Chinese rapid coal demand growth to continue for some time," said Boyce, who expects "healthy" increases in coal contract prices for the 2010-2011 Japanese financial year starting April 1."

Peabody seem to be very interested in Mongolian coal resources and already have a joint venture in Mongolia with Polo Resources where they recently spent US$23 million on a 50% interest.

[azalea] 06/11/2009 09:37

The UK government is quoted as saying that it is "highly unlikely" that a new legally binding climate treaty can be agreed this year and a full treaty "may" be a year away. This gives a green light to major users of coal especially developing countries and those who would have to pay the latter to cut their emissions. It would seem that the 'Sage of Omaha' new what he was doing when he recently bought Sante Fe railways to ship coal across the U.S. Almost inexplicably. the $ continues to weaken even against the basket case £, a weakenng $ continues to push up oil futures which is good news for energy producers.

[xonghile kudu] 06/11/2009 09:23

I've got two theories about Polo's ambitions.

1. It will have a crack at acquiring Extract Resources. The only way I can see this happening is if it merger's with Kalahari Minerals to get a 50% equity platform in Extract. Does anyone know if there is an existing relationship between Kalahari and Polo?
2. As unlikely as some people might think, Dattels may still launch a take-over bid of Caledon. Obviously not an all cash offer but if the premium is right it may be attractive to Caledon's shareholders. Accepted or rejected it may also draw out the Indians/Chinese.

Any views?

[m1tu] 06/11/2009 09:06

something leaked probably.... i got in with the crowd. company fundamental and chart looks very good.

[juckster] 06/11/2009 08:40

Why so many buys in this share recently ?

[barryrog] 06/11/2009 08:31

start of another wave up a la July?

[xonghile kudu] 06/11/2009 08:20

It seems that there is a bit of interest.

[chrisis33] 06/11/2009 00:23

6 x sells at 999,999 after hours, plus some large late buys too.

Extract up another 5%+ at the moment :)

[solsticefire] 05/11/2009 18:19

Someone just couldnt stand to sell a million at one go.

[tadska] 05/11/2009 17:44

999999???
3???

[chrisis33] 05/11/2009 14:03

It'll come in time - patience needed with this one. I expect the Extract share price to recover in Oz, and this to be reflected in the PRL share price

Plus, any news from CDN or GCM will spark more buying interest.

No longer 33 by the way. lol

[chicogabb] 05/11/2009 13:08

AreYouStill33 - trouble is, whenever ext or anything else moves, prl doesnt seem to! unfortunately...!

[chrisis33] 05/11/2009 09:21

Extract up over 5% in Oz overnight - should bode well for PRL