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

[marben100] 02/3/2010 21:12

I can see two obvious uses for the cash.

1) Extract remains cheap, can't see why Polo wouldn't want to add some more.

2) Caledon is in need of £18m to repay their converts, which fall due in July. Polo already own a slice of those. There might be a deal to be done there. If Caledon really can hit the 700kT production target they've set themselves and/or the coking coal price is good in the April negotiations (as currently forecast), then Caledon's current market cap of around £80m could look remarkably cheap.

Cheers,

Mark

[azalea] 02/3/2010 15:58

The only disposal I'm interested in, is Extract. That could do a Hughie Greene (Double your money) for the share price

[2viewer] 02/3/2010 15:43

disposal of interest

[monis] 02/3/2010 15:36

news regarding??

[2viewer] 02/3/2010 15:27

interesting. most action ive seen in a while

[5dally] 02/3/2010 15:21

RNS after hours or tomorrow maybe ????

[barryrog] 02/3/2010 15:16

we are on the move - news behind the scenes perhaps, the buying activity has certainly picked up in the last hour.

[nil pd] 02/3/2010 11:06

Sale by AREVA:

On 12 February 2010, Berkeley Resources Limited ("Berkeley" or "the Company") was notified via the filing of a Form 605 with ASX that AREVA NC had ceased to be a substantial shareholder (as defined by the Corporations Act) of the Company as at 11 February 2010, having disposed of the 14.1 million shares previously held.

In comes Commonwealth Bank of Australia:

On 17 February 2010, Berkeley Resources Limited ("Berkeley" or "the Company") was notified via the filing of a Form 603 with ASX that Commonwealth Bank of Australia, and its subsidiaries had a registered shareholding as at 12 February 2010 of 12,047,324 shares in the Company representing 8.93% of the issued share capital.

I guess there are two announcements yet to come – from BKY re a new notifiable holding; from PRL of the disposal at BKY. What else might we hear as PRL can do a lot with over £11 million (or £10.23 mill or £9.4mill)?

Agreed, quite some war chest. So again I'm looking for a rise here and imminently. My opinion, of course.

[fordtin] 02/3/2010 10:46

I make it ~£10.23m to add to the warchest, or ~£9.4m if the 60 day deal with Areva is still current.

Does anyone know what the 'actual completion date' was for the sale agreement with Areva?

[bossmanuk] 02/3/2010 10:33

It is only the second working day since 26/2, so maybe we'll see something soon.

[kerrie3] 02/3/2010 10:01

very strange - that was on 26/2 so why no RNS from PRL?
that would be around £11 mill, is something big about to happen here?

[katylied] 02/3/2010 09:07

Berkeley (BKY) RNS today, says Polo Australasia Limited
has disposed of its 14.1million shares...

[barryrog] 01/3/2010 10:47

thanks Katy - i wasn't sure if i was up to date thats why i asked the question.

[katylied] 01/3/2010 09:32

barryrog - No, Marenica Energy (MEY) was formerly Western Australia Metals (WME). The MEY shares were swapped for Berkeley (BKY) Shares. Polo retains 24.78m options in MEY exercisable at A$0.25 by 30 June 2011...

[thebull3] 01/3/2010 09:21

check out VML Vane Minerals if you like Uranium, good resource statement from 6 drill holes out of a possible 160 targets, and producing gold and silver with no debt mcap £9m dyor

[kerrie3] 01/3/2010 07:45

yes barry, 'our man in Extract' as they say.
on the board of Rio for 9 years, CEO of two of Rio Tinto's major product groups,responsibility for Rio's worldwide uranium sales and close working relationships with the Namibian Govt.

[barryrog] 28/2/2010 23:21

good chance of Rio taking Extract over then.
and don't we hold 55 mill shares in WME?

[robson1974] 28/2/2010 23:15

EXT new CEO is an ex-Rio Rossing Mine MD !

[robson1974] 28/2/2010 22:54

Marenica MEY (formerly called Western Australian Metals WME) has upgraded it's uranium resource by 120% tonight. (Areva own about 10% which they bought about one month ago). Will be interesting to see how that develops. (17c/share currently with the holders claiming on normal metrics of $4/lb it should be worth 75c/share

[kerrie3] 28/2/2010 20:53

i wonder how long for the BMO review recommendations?
ps
you don't 'hedge' an asset on the balance sheet unless you hold a cash position in a foreign currency. the value of shares in foreign Cos. are simply converted at
reporting time - it affects the B/S not the P & L.

[azalea] 28/2/2010 13:25

What assets whose value depends on sterling, does PRL have?

[sitiain] 28/2/2010 13:15

anybody know weather PRL has hedged its aussie dollar sterling position .
if they have for sure they will have a massive wirte down anyone know?

[jonny flame] 28/2/2010 11:39

Very good write up on Mongolia.



Bitter winter forces Mongolia's herders off land while minerals lie untapped
February 28, 2010

By David Stanway

AS MONGOLIA cowers under the brutal thrall of its worst winter in decades, questions are asked as to whether the country should rather end its reliance on nomadic herders and dig deeper into its mineral reserves.......

[brian1944] 28/2/2010 11:23

sagem good find.

[azalea] 28/2/2010 08:02

The logic of an inevitable increase in demand for uranium is so compelling(if not obvious), that PRL's stakes in uranium assets alone could justify its current share price and more so by 2014.