Polo Resources Share Discussion Threads

[airdrie] 03/4/2017 18:57

Yes I remember.

Thank you for your thoughts.

[shawzie] 03/4/2017 16:56

airdrie25 Jan '17 - 17:23 - 14094 of 14218 0 0
Roomb and Shawzie the share price is rising nice and steady but you've gone a bit quiet. Would be interested to read your thoughts on the company going forward. Do you still remain negative or is the latest rally encouraging you?

You do remember posting the above?
What interests me about Polo going forward is the Cash position over the past 18 months or so. It has gone from £15m to £9m to £6m and is probably around £5m or less today. Polo may continue to write down the value of some investments and is getting to a stage where if we extrapolate the Cash position, where will the readies come from for new investments? Of course borrowing might be a possibility or selling off Perfectus.
Before making an announcement to change direction regarding future investment I would have expected Mr Tang to have some idea of where (Malaysia) he is going to spend what remains of Polo Resources Cash.

As for Blackham, I like this investment and even at current production levels, gold poured in the first quarter of 2017, must be worth in excess of $20m.

If Polo shares fell back to around 2p I would think that to be a good buying opportunity.

[airdrie] 03/4/2017 11:30

Bit oversold Blackham. Most of the bad news is due to the heavy rain. The rain will stop.....
Thought something disastrous had happened.
I'm beginning to agree with me old mate Roomb, Mr Tang needs to start getting g Polo share price moving in the right direction to justify his "performance" fee.

[spights] 03/4/2017 09:20

www.businessnews.com.au/article/Blackham-tumbles-after-downgrade

[failedqs] 03/4/2017 07:35

Blackham down 22% at 42c.
Dreadful update from them........

[spights] 31/3/2017 15:53

hxxp://www.hibiscuspetroleum.com/information-for-shareholders

[cfb2] 30/3/2017 18:10

Another way to look at Tang's performance is to ask does he increase the value of your investment by more than $1m per year? He is effectively running an investment fund and taking a management fee for this service. Quite normal to assess a fund over a 5 year period. You'd normally expect it to have performed at least as well as a FTSE tracker.

I still haven't found any reason why Perfectus Management and Polo Resource find the need to buy shares in each other and invest in the same companies unless it's to charge double the management fees.

These are the sort of reasons that the share price is at such a discount to the NAV.

[acamas] 30/3/2017 15:51

I just think Tang is looking after Tang and the rest of us can go fly a kite as far as he is concerned. I do not know how he justifies his salary each year? It would be nice to say on the deals he does that they are winners but the Share price fails to indicate they are.

School report time says more concentration required

[shawzie] 30/3/2017 11:34

How is the cash 9 to 6?

[roomb] 30/3/2017 10:07

To look on the bright side, the NAV is 0.9p up on the previously reported 14.5p. But I'm not going out to celebrate.

[failedqs] 30/3/2017 08:56

Point taken extrader - I feel very frustrated at the lack of progress and in particular the disastrous investments of celamin and weatherly (both are 100% write offs in my opinion) - this demonstrates that Tang is not the right person to be running the company.
But I do accept your point!.....
I'm currently still over £100k down here - need (I think) about 20p a share to break even......

[extrader] 30/3/2017 08:21

Hi FailedQS,

I'm as ticked off as (presumably) you are at the s/p...and am certainly no fan of Tang and particularly the latest compensation wheeze.

But it seems a bit unreasonable to task him with underperformance when we have a motley bunch of early stage/speculative investments in the wrong stages of the commodity cycle....

ATB

[failedqs] 30/3/2017 08:09

For the record - Tang took over in May 2013.
The NAV (per share) reported in the interims are as follows:

Mar 13 - 36.2p
Mar 14 - 31.3p
Mar 15 - 27.7p
Mar 16 - 17.2p
Mar 17 - 15.6p

Am I missing something? Isn't it time that Tang was sacked? over $1m a year to preside over a systematic destruction of the shareprice and asset base, with some nonsensical "investments" along the way.

[mattboxy] 29/3/2017 23:41

So NAV is 15p and these trade at 5-6p Ok so we expect a discount but am I missing something as 35 % of NAV seems very low!

[spights] 29/3/2017 22:35

Blackham mine cops double whammy

Bucketing rain and a fire — odd bedfellows that they are — have combined to cause calamities at Blackham Resources’ gold operation. The West

[spights] 29/3/2017 21:15

Hot Copper
Wealth888 said: ↑
Article Below:

Bucketing rain and a fire - odd bedfellows that they are - have combined to cause calamities at Blackham Resources ' gold operation.
And the timing could not have been worse, if the Bull's sources are correct.
Blackham went into a trading halt yesterday and market chatter was the Bryan Dixon -led company had major problems with the plant at the MatildaWiluna project.
The company wasn't letting on about the nature of the problem but industry sources said a fire had broken out in the plant and heavy rains had caused havoc also.
That was bad enough but apparently the company had planned to take a bunch of institutional investors and analysts out to the site. The grip-and-grin mini investor roadshow had to be cancelled in order to get some maintenance staff on to the plane.
Not the greatest look to those you want to impress but spare a thought for Dixon. There are many things a managing director can control but the heavens opening up isn't one of them.
The Bull understands investors will find out tomorrow what is going on at the Matilda and Williamson mines and Golden Age deposit.
Shares in Blackham were worth 54¢ before the halt.

appeared via LexisNexis on my trading account

[airdrie] 29/3/2017 19:35

Well all being all it's a case of keep watching this space.
Hopefully Nimini will be sorted soon enough and Celamin.

[barnetpeter] 29/3/2017 14:48

results out

As at 20 March 2017, the Group had a net position of cash, receivables and short term investments of US$18.96 million (31 December 2016: US$19.52 million).

[shawzie] 28/3/2017 21:54

The results for q/e March 2017 should give some indication of Blackham performance.