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POL Polo Resources Limited

1.57
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Polo Resources Limited LSE:POL London Ordinary Share VGG6844A1158 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.57 1.15 1.99 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Polo Resources Share Discussion Threads

Showing 15951 to 15973 of 17800 messages
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DateSubjectAuthorDiscuss
26/2/2020
16:59
A good update from Polo this morning concerning our most valuable asset Hibiscus. Everything is on track to meet its goals regarding oil production. Profit is up. No debt and plenty of cash in the bank. If Tang can work the same magic on GCM we will all be very happy(and rich!)
888icb
24/2/2020
08:40
Bad Gateway

Interesting article on the Norwegian Sovereign Wealth Fund - a model the UK might benefit from BUT how on earth is this relevant to Bangladesh and the future of the Phulbari project ? The comment about capital investment and return refers to monetary policy and is naive in the extreme at the political level as Europe, and soon the RoW, are moving to a low carbon economy. That includes Norway - as a leader- regardless of one dissident central banker. They come and go. Sustainability (of the planet) is rather above the level of most bankers mental capacity - not that I am a 'greenie' at all. It is all too late to reverse the consequences of the last 175 years of post-Industrial Revolution!!

furgus ferret
24/2/2020
08:35
888CIB just read Phronimos previous (initial) letters from 2019 and you have the plan you ask for, this will take 2 minutes. This is not a mere "governance" problem by Tang it is the relentless looting of your investment and hard earned pounds. Act now and give Phronimos your support before it is too late so you can at least double from here.
chevalierdaven
23/2/2020
19:40
Which project?? NO PROJECT has been submitted to GOB till now...13 months delay...doesn't sound good to be fair...

Tang meantime is cashing his massive salary and dilute the companies more every year...need serious explanations...

1solstace
23/2/2020
19:33
Interesting article Furgus but be careful of politico doubletalk and lipservice to green issues.
The ones in charge (ie the central bankers) aren't so sure. Norways central banker doesn't want the sovereign wealth fund played with at all and this is last week so not the past at all..


Norway's central bank governor warned politicians against meddling too much with the country's massive sovereign wealth fund and of overspending its oil wealth.

In his annual speech to the nation's political and business elite on Thursday, Norges Bank Gov. Oystein Olsen renewed warnings that politicians should resist micromanaging the $1.2 trillion sovereign wealth fund, the world's largest. His comments come after a series of political initiatives over the past years to alter the fund's mandate on issues ranging from climate change to gambling.

"The capital is to be invested with one — and only one aim: the highest possible return at an acceptable risk," Mr. Olsen said, according to a transcript of his speech.

bad gateway
23/2/2020
19:04
Bad Gateway

Here is a reality check on sourcing funds for the Phulbari project from the international markets

hxxp://ieefa.org/wp-content/uploads/2019/02/IEEFA-Report_100-and-counting_Coal-Exit_Feb-2019.pdf

You seem to be living in a different world - the past !!

furgus ferret
23/2/2020
19:03
Coal is currently responsible for 27% of global power. Bangladesh is committed to coal fired power stations. It would be economically and indeed environmentally insane not to mine your own very high quality coal.
China is happy to finance projects like the one proposed by GCM which is why GCM has employed Chinese consultants to arrange it. We know the Energy Minister and many others in the power sector are in favour of mining Bangladesh coal now. GCM is on the brink of being a very valuable asset for Polo if the final submission is successful. We don’t want corporate manoeuvres at Polo to adversely affect GCM. Trying to remove Tang without a clear plan for what happens next is to my mind not a prudent course of action. Tang has been the driving force at GCM so we should be careful what we wish for.

888icb
23/2/2020
18:39
Thats just nonsense Furgus. Asia is just giving lip service to environmental concerns whilst building coal fired power plants.
Its actually only the UK and Europe thats really going green from what I can see..

(Don't read this greta it will just make you angry)..

Booming Asian coal demand to drive exports from North America’s West Coast..




US shovels more (steam) coal exports into Asia

bad gateway
23/2/2020
18:06
My reference to the Chinese was so obviously on the basis of them funding the multi-billions needed to develop the resource not to excavate it for export. I did not think it necessary to say that but evidently I was wrong.

None of the JPM, Goldman Sachs etc., will front-up the Capex funds needed to develop this so-called asset even if planning consent is granted by GoB. Those days have gone for steam coal albeit not for coking coal. Glencore have the internal funding resources but doubtful due to the location and politics. China is the only funding source and that is very uncertain - forgetting their irrelevant domestic needs and situation.

furgus ferret
23/2/2020
18:01
Bad Gateway

Why would you want to see a plan from me when I have clearly advocated that we back a plan from Phronimos as they allegedly speak for 27% of the TVR and need 30% to call an EGM. It would be at that time, and not before, that Phronimos would put forward a Resolution saying whatever it is they think should happen ( Tang to go, a new Director to represent the 27%, liquidation etc., etc). Not before then as I say. At that point we all decide whether as individuals we want to vote in favour, or against, said Resolution. It is not hard to understand.

The real problem is how Phronimos move from 27% support to comfortably above 30% ( to force an EGM) allowing for some morons and lazybacks whose votes will be discounted as they will complete the Proxy or other paperwork wrongly, if at all. This is not helped by the Nominee system which disenfranchises ordinary shareholders as the Nominees are too lazy to inform the underlying beneficiaries of their voting options and rights. I am certain that a lot of shareholders know nothing about Phronimos and will not even have seen their Letter of Concern only the evasive reply by the Polo Board.

Frustrating indeed !!

furgus ferret
23/2/2020
17:57
Then perhaps you shouldn't have brought the subject up Furgus..

"The Chinese might take a punt but even they are slowly moving towards a low carbon existence at home and abroad"

Notable that you believe the resource to be considered valuable to the GoB however and (presumably) not something to just leave in the ground.


"The notion that the GoB would ever sanction the export of their steam coal resources is laughable."

bad gateway
23/2/2020
17:47
Bad Gateway

Perhaps you have not figured it out BUT the Phulbari deposit is slated for development (if ever) to address the domestic power shortage in Bangladesh so your lengthy tome about domestic capacity in China is completely irrelevant. The notion that the GoB would ever sanction the export of their steam coal resources is laughable. Wake up man !!

furgus ferret
23/2/2020
17:26
888, Premise reaffirmed.
glavey
23/2/2020
16:58
Every shareholders will have already informed Phronimos and pledge support for sure....

Tang will try to attack and play for time...

1solstace
23/2/2020
16:20
1solstace

I could not agree more and most shareholders I suspect feel the same way. Trouble is how?

We need to force an EGM (requiring a 30% of TVR to do so) and submit a Resolution for either for Tang to step-down and be replaced, or for him to go and to liquidate and distribute the cash. Only Hibiscus is worth anything but even that is around 7.3p per share perhaps. The rest -even GCM - is worthless. Enormous steam coal deposits in the modern world get neither permitted nor funded (as to development. The Chinese might take a punt but even they are slowly moving towards a low carbon existence at home and abroad.It will not happen.Might have done 10 years ago.

The only way this liquidation can happen is to pledge support to Phronimos. They will have a nominee in mind (for sure) to replace Tang or an asset fold and return (of cash) plan BUT they need our votes. Email them and pledge support

furgus ferret
23/2/2020
15:13
Polo shareholders must oust tang, sell all the assets and distribute money to shareholders....enough is enough with the overpaid datuk...how many millions since he is ceo??
1solstace
23/2/2020
12:52
It's spam - there's no article he just wants to to follow him on twitter because he's got low self esteem.
dplewis1
23/2/2020
12:17
What is that link referring to peter GCM or polo?I don't have Twitter.
jamesss1
23/2/2020
10:55
Glavey
I have read the Phronimos letter and fully understand the points they are making.
When reporting agms most companies just report that a resolution has been passed.
Polo in pre Tang days has had cross holdings in investee companies.
Clearly the remuneration committee is not doing a good job.
But the point I am making is that while we can all accept that corporate governance at Polo can and should be improved. (They are going to start addressing that with the appointment of additional Independent Non Executive Director.) Phronimos have not set out what Polo would look like post Tang and what effect that would have on investments such as GCM. They have highlighted problems but have not set out the solution. They may have one and if so they should tell us if they want to secure our votes.

888icb
23/2/2020
04:39
888 You don't seem to have understood Phronimos' position.


Why did Polo not publish the full information: (vote counts, votes witheld and the percentage of voted issued capital) so that the complete picture is available. It's apparent that Polo only disclose what they wish to and in that case there must be stuff that's being effectively covered up.

What's the point of Perfectus Management. Arrangements like this with lots of cross shareholdings are typically done when someone wants to make things opaque. Perhaps just a way for Mettiz Capital (controlled by the chair of Polo) to extend it's influence.

Consider the remuneration committee. It consists of one exec. and one non-exec. The exec. received emoluments of $799k p.a. and the non-exec. $8k p.a. Lines the between read my mind crossed.

The Investing Policy objective will be to achieve reurns to shareholders through appreciation of the value of the Company's shares rather than buy means of a distribution (but does not rule out distributions). Fair enough. The Company cannot control the share price but the appreciation of value should be reflected in the NAV. How's that working out so far.

And Dyani, a company registered in H.K., how were all the heads able to get together so promptly to come up with the 'plan' in these times of Coronavirus.

"...the Board will, in the near future, be appointing an additional Independent Non-Executive Director" Bemused?

glavey
22/2/2020
23:41
He has our backs 😂😂😂😂
He doesn't care about anything but that cheque each month.This is done.

jamesss1
22/2/2020
15:24
2020,,,,,,
1solstace
22/2/2020
14:43
The Tang dynasty or the Tang Empire was an imperial dynasty of China that ruled from 618 to 907.

The present Tang Dynasty of Polo has ruled from 2013 to ?

shawzie
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