Polo Resources Share Discussion Threads

[barnetpeter] 11/11/2016 13:21

GCM Resources Plc (AIM: GCM)

-- Coal Projects, Bangladesh
-- 27.8 per cent equity interest
Polo is a strong supporter of AIM traded GCM Resources Plc ("GCM") which seeks to develop a large scale mining project based on a world class deposit of 572 Mt (JORC 2004 compliant) comprising of thermal and metallurgical coal in North-West Bangladesh, subject to receiving approval from the Government of Bangladesh to proceed.

In-country demand for coal is expected to dramatically increase as the Bangladesh Government implements a Power Sector Master Plan which will increase coal-fired power generation by 18,750MW in the next 14 years. The Government announced plans to source coal from overseas but have yet to secure any at this point in time. Of the five coal deposits in Bangladesh, the Phulbari coal deposit is the most advanced in preparation for extraction.

GCM's strategy is focused on pursuing approval for the Project by demonstrating how it will assist the Government of Bangladesh meet its power requirement and in particular show that it will be a reliable high volume supplier of high quality coal enabling much lower power tariffs than using imported coal. The company is in discussions with potential partners who may assist GCM in the process. In addition GCM places importance on retaining its social licence with the potentially affected local communities, and has continued with its local engagement activities during the last six months.

In the period under review, a further U$2.03 million impairment has been taken to the carrying value of our investment.

[philjeans] 11/11/2016 13:20

Excellent news!

Polo's stake will be worth mega bucks!

[barnetpeter] 11/11/2016 13:17

GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce that a memorandum of understanding ("MOU") has been agreed with China Gezhouba Group International Engineering Co. Ltd ("CGGCINTL").

The MOU provides for parties to engage and mutually investigate the feasibility of a joint venture with respect to the development of mine-mouth coal fired power plants generating up to 2,000MW in total at the Phulbari Coal and Power Project site.

CGGCINTL is a subsidiary of China Gezhouba Group Corporation (CGGC), which in turn is a core member of China Energy Engineering Group Co., Ltd., a super central state-owned enterprise of the People's Republic of China. CGGC's businesses cover the design, construction, investment and operation in power, water conservancy, highways, railways, bridges, municipal works, airports, ports, waterways, industrial and civil buildings, as well as real estate and coal mining amongst others.

The Executive Chairman of GCM, Datuk Michael Tang, stated: "We are delighted to have established this relationship with China Gezhouba Group International Engineering Co. Ltd, one of the largest and most respected engineering companies in the region and look forward to working with them for the mutual benefit of both parties."

[pembury] 11/11/2016 13:16

game changer, the deal is now truly on!

[failedqs] 11/11/2016 13:09

I take it all back - tang seems to have pulled off a good deal at GCM!.....

[pembury] 11/11/2016 13:04

+170%

great news for POLO!

[pembury] 11/11/2016 12:55

GCM news out!
flying up 150%

[failedqs] 11/11/2016 09:51

Roomb - when Tang bought his stake, I seem to recall that the shares were about 18p and shot up to about 25p on the news. I agree that short/medium term I see little chance of getting back to that level unless tang departs.

[spights] 11/11/2016 09:48

NAV out next month

[roomb] 11/11/2016 09:27

The share price of WTI is going up but the investment Polo made in WTI is not "good for Polo" because the amount WTI has gone up is not significant for Polo's share price Even if WTI goes back up to what we paid for it , there will likely be no change in Polo's share price People who bought Polo at the time that Tang took over and held their shares are sitting on a big loss.I recall the shares were about 30 pence at the time. At the moment we are stuck at around 6p - can you see anything in the near future that would cause the share price to go up 5 times?

[888icb] 11/11/2016 08:24

Clearly if one of Polo's investments is going up that is good for Polo. In the case of WTI the sooner it gets back to what we paid the better. WTI is UP 40% this morning so that's a good thing.

[roomb] 11/11/2016 08:11

Spights, POL are therefore losing money on WTI to date.It's worth half that. So why all the celebration about WTI?
Similarly, Tang paid 40p for his POL shares-any signs of getting back to that, let alone going higher?

[spights] 10/11/2016 15:37

Polo paid £902,000 for their stake in WTI

[roomb] 10/11/2016 13:43

WTI is worth a very small amount to Polo.

[paleje] 10/11/2016 10:54

Yep could've done with a few more, easy to say now:)

The ongoing Blackham news is nice the extra ounces will help ameliorate the possible effects of a strengthening USD...if that's what happens.

(Incidentally couldn't copy paste from that spights businessnews article, don't know whether my machine or preventive code)

[888icb] 10/11/2016 10:39

WTI UP 57% on volume of 20 million.

[spights] 10/11/2016 10:15

up. 63%

Yehaaaaaaaaaaaaa

[888icb] 10/11/2016 09:39

WTI top of the Leader Board UP 38%. Volume over 10 million.

[spights] 10/11/2016 08:41

WTI flying
Yehaaaaaaaaaaaa

[spights] 10/11/2016 08:38

hxxps://www.businessnews.com.au/article/Solid-drill-results-pave-way-for-Matilda-Gold-mill-expansion-for-Blackham?utm_source=Business+News+Mailing+List&utm_campaign=8dfac6bf18-dba&utm_medium=email&utm_term=0_e5391356e5-8dfac6bf18-289406073

[888icb] 08/11/2016 20:47

WTI has put on another 8% today.

[spights] 07/11/2016 16:02

😀😀😀😀8512;😀

[888icb] 07/11/2016 11:01

WTI top of the leader board UP 34%