Polo Resources Share Discussion Threads

[888icb] 31/12/2019 01:47

The important point is that an existing investor has increased his holding by nearly 1% and now holds 5.1% of the company. That is a vote of confidence.

[xow98] 30/12/2019 15:26

Date threshold crossed 1 October 2019 per RNS. Only notified 23 Dec 2019

[alpal2] 30/12/2019 15:25

Am I right: Nortrust increased its holding from 4% to 5% on 1-Oct-19 and have only today notified the market. How long to they have to notify a change in position?

[philjeans] 30/12/2019 15:20

Nice - Armstrong topping up.

Knows something we don't...…̷0;...

[alpal2] 24/12/2019 13:50

888: If the value to Polo of Hibiscus is 7p then there is good reason to think NAV might drop to that. GCM and Celamin have been disasters for many years and [together with Nimini, Weatherly and Blackham] may well be valueless. Not sure if 'Humble Pie' will be on my diet in 2020 but, if I am wrong I shall be so pleased to eat it as I celebrate a higher POL share price.

[888icb] 24/12/2019 01:40

You have given no reasons as to why you believe the NAV is going to halve to 7p. There is no suggestion of that in the report. Your suggestion that Polo will not recover it’s loans to GCM is certainly not borne out by the positive view of what GCM has achieved in the last year and what is expected in 2020. An unsubstantiated and unsubtle attempt to deramp.

[shawzie] 23/12/2019 23:22

A quick glance at the Polo Results for the year ended June 30 2019.

1. NAV per share as at December 13 2019 - a fall from 15p to 13p.
I believe heading for NAV of 7p and would not be surprised if share price went back to between 2p or 3p.
2. Gain on fair value movement of financial investments 4,828 neatly covers Other loan provision of (4,180).
It is doubtful that Polo will recover any outstanding loans to its investments such as GCM and redeemable note to Universal Coal which has been in default for some time.

However we shall see more clearly (perhaps) when the Annual Report and Accounts for the year ended June 30 2019 come to hand.

[spights] 23/12/2019 12:44

(Alliance News) - Polo Resources Ltd said Friday that during the financial year ended June 30, strong value creating foundations have been made, placing its growth stronger for the next year.
The investment company said its net asset value per share at December 13 was 13.07 pence, down from 15.19 pence at June 30.
Net assets at June 30 was USD60.16 million, compared to USD60.28 million a year ago.
The company said the board decided to focus on supporting its current investee companies during the period.
"This was deemed to be a prudent approach given the lack of suitable investment opportunities and the erratic behaviour of commodity prices driven by a world economy that was suffering the impact of the on-going US-China trade war," the company said.
The company said it has seen three of its investee companies Hibiscus Petroleum Berhad, GCM Resources Plc and Celamin Holdings Limited make significant value accretive progress.
However, the company said its portfolio was impaired by the falling into administration of Weatherly International PLC difficulties in recovering debt in regards to Nimini Holdings Ltd and the difficulties Blackham Resources Ltd has been experiencing as it attempts to expand its gold production.
Polo Resources shares closed 4.3% higher in London at 3.92 pence each on Friday.

[spights] 23/12/2019 12:32

As soon as I get a reply
I will e mail it to you

[spights] 23/12/2019 12:20

Good afternoon next time lucky
Will do it now
A VERY HAPPY CHRISTMAS AND NEW YEARX

[next time lucky 19] 22/12/2019 17:03

Nice to see a familiar poster. With your contact with Barry at Prism Diversified it would be useful for an update, especially as the suggested production dates have slipped again.

[spights] 22/12/2019 07:42

888ICB 😀

A VERY HAPPY CHRISTMAS AND NEW YEAR
YES I HAVE FILTERED THEM
TAKE CARE
MAUREENX

[888icb] 21/12/2019 22:00

Spights its good to see you posting again. As you can see we have had an infestation of vermin who are attempting to disrupt this and the GCM board.But the vermin can be ignored or filtered as you know. Happy Christmas to you and I agree that 2020 is looking very promising.

[spights] 21/12/2019 21:14

I am still holding
As soon as I get some news will post
🐝🐝🐝🐝8029;🐝

[spights] 21/12/2019 21:12

A VERY HAPPY CHRISTMAS AND NEW YEAR
I FEEL 2020 is going to be our year

[1solstace] 21/12/2019 17:16

What did tang and all « his » companies returns to his beloved shareholders?? (Last dividend from polo - under dattels/mellon management was 9 years ago...and share price 10xhigher) Stop dreaming, this is not the right place....tang did f... for the shareholders

[888icb] 21/12/2019 11:44

I am also a long term holder and recipient of two special dividends on the sale of investments. It wasn’t plain sailing to get to one of those dividends and the investment had many ups and downs and delays before the good outcome was finally achieved.
I do agree that Tang is taking far to much remuneration. He should be reliant on the success of the investments and dividends to align him to the shareholders interests.
However when you accuse him of being totally incompetent could you give an example of what specifically you are referring to. Hibiscus for example is a good investment that has performed well.

[1solstace] 21/12/2019 09:30

Tang just want to cash his big salary and bonuses from every companies... The Shareholding is pure speculation and gamble. When no more cash, an increase of capital....as simple as that. How can somebody still trust this kind of management is beyond me...

[alpal2] 21/12/2019 06:43

Despite being a long term holder [since Dattels], I think that Tang is totally incompetent. Clearly the market thinks so as well. Shares are at a 70% discount to NAV which says the market does not believe that Tang will bring value to shareholders; only to himself.

[888icb] 21/12/2019 00:28

Results for the year to 30 June 2019 released in an RNS on Friday afternoon give Group net assets of US $60 million and NAV per share of 13.06p. That compares with a current share price of 3.92p which is some discount. The report is positive and particularly singles out the progress made by Hibiscus,GCM and Celamin on various operational and corporate fronts. This has laid down strong value creating foundations which places the company for stronger growth in 2020. Its worth reading the report.

[888icb] 20/12/2019 11:30

A good day so far Up 9% on volume of 400000

[scoots] 19/12/2019 14:30

Didn't last long.

[scoots] 19/12/2019 12:59

Best spread we've had for a while. Maybe something brewing.