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

[barryrog] 04/2/2010 08:42

well something positive is going on given the rise this morning.
and why BMO Capital - they are a US Co.

[azalea] 04/2/2010 08:21

gurp
how can a no "brainer" be a 'kod' for a company like PRL that is sitting on stakes in companies with energy assets that have the near term potential to increase its value several times over? Dattels did not buy circa 50m+ shares with his own money for fun.

[yoda5442] 04/2/2010 07:33

GCM Resources gains pace
By Neil Hume and Bryce Elder

Published: February 4 2010 02:00 | Last updated: February 4 2010 02:00

GCM Resources added a further 13.7 per cent to 116p on continued speculation that the government in Bangladesh would soon give the go-ahead for its Phulbari coal field.

Meanwhile, Polo Resources , which owns a 29.8 per cent stake in GCM, added 1.9 per cent to 4p. The gains came after the mining investment company said it had appointed advisers to examine options for its 9.3 per cent stake in Australian-listed Extract Resources, which is worth around $150m. Polo's current market value is also $150m. Rio Tinto is seen as a possible buyer for Polo's holding in Extract.

[gurp] 03/2/2010 23:36

suggest peops stop the 'no brainer' description though - so often the kod
(unless they're referring to some of the posters).....................

[bardfield1] 03/2/2010 22:47

oh damn wrong board - sorry - in prl too, but thats a serious investment and definitely going to make a few quid.

[robson1974] 03/2/2010 21:13

Tomorrow could be breakout day on volume for GCM.

FT Market Report tomorrow leading Smaller Companies report with GCM story.



Headline : "BAE brings three-day rally back down to earth"

[steeplejack] 03/2/2010 16:04

Agree.Few prawn sandwichs and a chin wag about Extract being a jolly good egg.I thought Polo was an investor in resources companies with a strategic intent in mind!!

[robson1974] 03/2/2010 15:39

looks a bit pathetic to be honest

"we haven't a clue so someone come and help us out" ?

[missgemgems] 03/2/2010 15:35

has got to be a screaming buy, time to add.

[doji star] 03/2/2010 15:31

interesting.

especially following the Korean consortium news.

[robson1974] 03/2/2010 15:26

PRL

RNS


BMO appointed to advise Polo on strategic options with respect to its investment in Extract Resources

[azalea] 03/2/2010 13:18

brian1944
Given the huge global increase in demand for nuclear plants stretching out over the next 15-20 years, uranium will become the most sought after energy resource. The rapid development of Rossing South is not a question of finding the money but simply agreeing on who gets what for their money and technical aspects. PRL's stakes in energy resources makes the share price a virtual no brainer at the current price.

[spursmatt99] 03/2/2010 13:06

Thanks fordtin. I was sure it is possible. Halifax say no unfortunatly. Might have to work out another way of getting increased exposure to extract.

[fordtin] 03/2/2010 12:40

spursmatt99 -

according to the table 1 in the following link, the Australian ASX market is a recognised stock exchange for tax purposes. As EXT is included in the ASX200 it should be ISA eligible.

[brian1944] 03/2/2010 12:12

Of DOW JONES NEWSWIRES


SEOUL -(Dow Jones)- A consortium of Korean companies led by Korea Electric Power Corp. (KEP), or Kepco, is preparing to bid for a stake in one of the world's largest undeveloped uranium deposits, according to two people familiar with the matter.

State-run utility Kepco, Korea Hydro and Nuclear Power Co., and Korea Resources Corp. are looking to take a stake of around 15% in Extract Resources Ltd.'s (EXT.AU) Rossing South uranium mine development in Namibia, one of the persons said.

The consortium is working to submit the bid by a deadline of March 18, and the outcome is likely to be known a few months later, said the person, who didn't want to be named.

He didn't disclose the likely value of the Korean consortium's offer.

Another person confirmed Kepco and Korea Resources Corp. are in talks over a possible joint bid, but membership of the consortium hasn't been finalized.

The person didn't mention a possible involvement by Korea Hydro & Nuclear Power Co.

Extract, based in Western Australia, appointed the Australian unit of Rothschild in May last year to undertake a strategic review of its options for the development of the Rossing South deposit.

In November, Extract said it had "received extensive interest from a number of parties seeking to participate in the project's development" but hadn't ruled out developing the project by itself.

It wanted potential bidders to state how they could help bring a mine into production quickly and efficiently.

Extract says Rossing South--located to the south of Rio Tinto Ltd.'s (RTP) producing Rossing mine--has the potential to produce 15 million pounds of uranium a year. That would make it the world's second-largest uranium mine.

Rio Tinto owns nearly 15% of Extract and analysts think it's also likely to be in talks over potentially partnering in the development of Rossing South, especially if there is scope for sharing infrastructure at the Rossing mine.

David Wood, director of Rothschild Australia Ltd., didn't disclose any identities of potential bidders when contacted by Dow Jones Newswires Wednesday, but said large groups were among those that had approached Extract in past months about a partnership.

He confirmed parties were working toward a milestone in mid-March, adding Extract's management was open-minded about whether a miner or a uranium consumer would make the best partner if it opted to sell down part of its interest.

Concerns about climate change have thrust nuclear power, which relies on uranium as a fuel, back into the spotlight as a potential source of emissions-free energy.

Asian countries like China plan to accelerate programs to build reactors and European nations like Sweden are ending moratoriums on new nuclear plants.

In contrast to some renewable energy sources, nuclear technology is already commercial.

Supporters say plants don't require huge amounts of land compared to wind farms or biofuels plantations, and that safety continues to improve.

South Korea and Japan--Asia's current nuclear heavyweights--are planning additional plants, and many countries, including Vietnam, Thailand, and Indonesia, want to join the nuclear club.

China and South Korea have also said they plan to establish strategic stockpiles of uranium.

The growing demand for feedstock has combined with diminishing secondary supplies of uranium from sources like decommissioned nuclear weapons to put pressure on existing and new mines to bridge the gap.

South Korea's government has set a series of targets to secure the uranium needed for nuclear power plants.

It wants the country's uranium self-sufficiency ratio to rise to 25% by 2016 and to 50% by 2030 from 6.7% in 2010 through the acquisition of overseas mines.

In December, Kepco signed a deal with France's state-controlled nuclear group Areva SA (CEI.FR) to partner in the operating company of the Imoureran uranium mine in Niger.

That agreement gave Kepco the right to offtake 10% of the production of the mine for the duration of its operations, with the uranium used exclusively in South Korean nuclear power plants.

South Korea is also exporting nuclear power technology. A Kepco-led consortium received a $20.4 billion contract in December to build four nuclear power plants in the United Arab Emirates.

The Ministry of Knowledge Economy said in mid-January it is targeting overseas contracts for 10 nuclear power plants by 2012 and 80 plants by 2030.

This would make it the world's third-largest exporter of nuclear power plants and account for 20% of new nuclear power construction projects globally by 2030, the ministry said.

-By David Winning and Shin Jung-Won, Dow Jones Newswires; 822-2198-2240; [e-mail]; [e-mail]

[spursmatt99] 03/2/2010 11:54

Would I be able to put extract in an isa?

[fordtin] 03/2/2010 11:40

"State-run utility Kepco, Korea Hydro and Nuclear Power Co., and Korea Resources Corp. are looking to take a stake of around 15% in Extract Resources Ltd.'s (EXT.AU) Rossing South uranium mine development in Namibia, one of the persons said. "

[dbno] 03/2/2010 10:39

Extract Resources Ltd. (EXT.AU) has been approached by a number of institutions asking to participate in the funding of its planned Rossing South mine, the chairman of the Namibia-focused uranium explorer said Wednesday.

Steve Galloway said the company has yet to begin discussing funding plans for the project, unveiled two years ago and located about five kilometers south of Rio Tinto PLC's (RTP) existing Rossing mine, but has been approached.

He said that if all goes to plan, production is expected to begin in late 2013 on what could be the world's second-largest uranium mine, producing 14.8 million pounds of U3O8 a year. This would position Extract among the top five producers of the metal, used in nuclear power stations and weapons globally, he said during the Africa Mining Indaba industry conference.

"It has all the redeeming features of a great uranium mine," Galloway said.

The Australian company is 41%-owned by Kalahari Minerals PLC (KAH.LN) and 15% by Rio Tinto.

[brian1944] 03/2/2010 09:43

in for 300k at prices 1.9 and up to 3.9 over past year

[azalea] 03/2/2010 09:20

A miniscule 1k buy online, in for 50k @ 4p.

[gurp] 02/2/2010 20:32

yes & 5% (20m) afaiaa
added here but hold all 3, indicators look ready for a turn-up, coal looking good atm & hopefully uranium before long

[ellemaitch] 02/2/2010 16:31

Been away for ages . Does PRL still hold 30% of GCM ? What stake does GCM hold of CZA ? Thanks guys

[sitiain] 02/2/2010 16:08

seems to be a seller at 3.9 for size couple of 1 mio blocks showing.
get him out of the way hould move up i guess.
very cheap punt on gcm here i must say , you get the chance of that coming off
for almost nothing