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

[soundbuy] 30/3/2010 10:00

Gurp

have KAH, URU, PRL and until yesterday EML so easily confused :)

EML will soon become more PRL. The Canadians have a real appetite for resource stocks and am looking fwd to the increased liquidity.

[gurp] 30/3/2010 09:47

soundbuy, ok, just with so many x-holdings I thought I'd missed one!!

complicated the way new interested parties entering to get a bit of EXT

[soundbuy] 30/3/2010 09:29

Apols. for above post.

Should read EXT holding.

[los ricos] 30/3/2010 09:26

ford - thanks. I wanted to show the possible source as well.

It's all positive:

1) removes a possible dilution effect.
2) small consideration when looking at NAV.
3) reassures potential Canadian investors that company is confident about current investments.
4) shows future Canadian investors that PRL is serious about removing any potential overhang that may arise later this year.

....are the four main points.

[gurp] 30/3/2010 09:24

.....re kah holding??

[soundbuy] 30/3/2010 09:15

A lot of repositioning going on with PRL at the moment. News obviously imminent re KAH holding. The question is where the proceeds will go?

Apols. EXT holding.

[fordtin] 30/3/2010 09:13

best place to look for info on current warrant & options is the most recent financial report then check to see if any have been issued after that date imo

[barryrog] 30/3/2010 08:31

Sagem,
almost certainly short termers taking advantage of the recent rise and wouldn't even understand the RNS.

[los ricos] 30/3/2010 08:28

However, different expiry date from below and the RNS of today. Also todays RNS talks about 'warrants' below mentions 'a warrant':




Block Admission Application


Polo Resources (AIM: PRL), the mining and investment company with interests in
coal and uranium, announces that in accordance with its announcement of 21 April
2009 that it has granted a warrant to Peabody Energy Corporation (NYSE: BTU), an
application has been made to the AIM market of the London Stock Exchange for the
block admission of 404,866,875 ordinary shares of no par value, issuable on the
exercise of the warrant granted to Peabody. The warrant is exercisable at a
price of 4.0 pence per share, with an exercise period of 18 months, expiring on
21 October 2010.

[sagem] 30/3/2010 08:24

With all the potential why is the share price going down today

[barryrog] 30/3/2010 08:14

los ricos,
well spotted - well Peabody have certainly been very generous to PRL.

Bossman,
maybe there's more to come.

[bossmanuk] 30/3/2010 08:13

Shame they couldn't buy back all the warrants issued to Peabody on those terms

[los ricos] 30/3/2010 08:01

Peabody Warrant
Polo has granted to Peabody a warrant to subscribe for 404,866,875 shares of
Polo, representing approximately 15% of the fully-diluted share capital of Polo.
This warrant may be exercised during the period from closing to the last
business day of the 18th month following closing. The warrant has an exercise
price of 4.0 pence per share, representing an approximate 30% premium to the 20
day VWAP prior to the signing of the Option Deed and a 13% premium to the
current share price.

[kerrie3] 30/3/2010 07:56

how have they managed to do that?
its the same a 'purchase of your own shares' but at a significant discount.

[barryrog] 30/3/2010 07:43

i don't know who had the warrants but to buy then back for 2/3 of 1p and also avoid the dilution next year was some deal.

[bossmanuk] 30/3/2010 07:40

Lizzie,

It seems that Existing shares can be converted to warrants and therefore may not have been notifyable. Warrants are easier to transfer ownership without a transfer document being neccesary.

[lizzie ii] 30/3/2010 07:30

An RNS today mentions a buy-back of 150m warrants, which it says were issued in May 2009. Wanting to know who has got the £1m that the RNS mentions, I have looked through the RNSs for May 2009 and cannot find any mention of issue of warrants.

Anyone any idea who has got the £1m? Possibly Directors?

[someuwin] 30/3/2010 07:28

Polo acquires 150 million warrants in the Company


TIDMPRL

RNS Number : 3840J
Polo Resources Limited
30 March 2010

?
30 March 2010


Polo Resources Limited
("Polo" or "the Company")

Polo acquires 150 million warrants in the Company

Polo Resources (AIM:PRL), is pleased to announce that warrants to subscribe for
150,000,000 ordinary shares in the Company have been surrendered for a cash
consideration of GBP1,000,000. The warrants were issued in May 2009 with an
expiry date of 30 November 2010 and an exercise price of 4 pence per share.
These warrants will be cancelled with immediate effect.

[malagate] 29/3/2010 21:18

If EXT were listed on the main market, it would rank about 170(ish) in terms of Market Cap (~£1b).

That'd make the trackers buy in. Would be good in the short term at least.

Price of A$16 and it'd be close to the FTSE100

[soundbuy] 29/3/2010 19:42

Well, that discount of KAH to EXT would disappear.

[martylangan] 29/3/2010 16:36

What could be the potential outcome on price of a KAH EXT merger...?

[marben100] 29/3/2010 16:04

barryr - yup. I guess they're counting on that merger between KAH & EXT. ;0)

w - have a look at the photo-gallery, IIRC there's a shot taken from Rossing (which sits on top of a ridge) where you can see Extract's rigs operating in the desert.

Rio have indicated in the past that their preference is for a JV - and that makes a lot of commercial sense for both parties (esp using joint infrastructure). It's a question of agreeing acceptable terms. By balancing the Board better, with some powerful consumers, IMO the chances of a deal being done improve.

I agree that Rio probably wouldn't want to take on the whole thing (unless they could get it cheap). EXT market cap is around A$1.8bn currently.

Cheers,

Mark

[wiloughby2] 29/3/2010 15:49

Marben - have been to Extracts home website and watched their flyover video. I bow to your superior knowledge.(and mapreading skills!)I read somewhere that Extract market value is around £1.2 billion which is where I based my theory that rio would not want to take on the whole thing.

[barryrog] 29/3/2010 15:10

marben.
you are probably right mate given the director appointment but i'm still betting they have settled for second best as they were unable to get a large wad of Extract shares direct.

[marben100] 29/3/2010 14:28

wiloughby, you're wrong, suggest you recheck your map. Rossing is just 6km from Rossing South -& RS looks to have more attractive economics.

Itochu have been invited to appoint a director to Kalahari's Board. I suspect that'll give them a certain amount of "say". ;0)