Polo Resources Share Discussion Threads

[russman] 16/1/2022 17:11

The listing is their only useful asset.

[longjohnsilver1] 12/1/2022 19:21

GOB do not want coal


Otherwise They would have approved it long time ago

[russman] 12/1/2022 18:28

GCM is finished without Polo's (or Dyani) support.

[longjohnsilver1] 12/1/2022 16:28

He never started, no need to be finished…

[russman] 11/1/2022 17:59

Well Polo shares are currently worthless.
So any news would be a positive.
Tang is finished in this City.

[longjohnsilver1] 08/1/2022 09:14

if there might be any value for the future?



Hahahahahahahahahahahahaha

[glavey] 07/1/2022 13:59

Yes, a fella who posts as "Tang" on rare occasions.

[red army] 07/1/2022 11:46

Does anyone know of any developments with this company as keen to see if there might be any value for the future?

[shawzie] 06/1/2022 10:47

“Polo - the largest shareholder in Hibiscus Petroleum”.
Well that is news to me. Thankyou for the info.

[888icb] 05/1/2022 21:53

Is that really all you can remember or have just chosen to remember something that looks bad. If you knew anything about Polo you would know that it’s most valuable holding is being the largest shareholder in Hibiscus Petroleum.
Just to help your memory loss here is the financial summary from the 2020 Polo Interim Report:
Financial Position
The Group recorded an operating loss of USD6,369,000 for the six months to 31 December 2019 (31 December 2018: USD1,555,000). The loss was largely attributable to loss on fair value movement of financial investments of USD5,227,000. As at 20 March 2020, the Group had a net position of cash, receivables and short term investments of USD10.13 million (31 December 2019: USD12.02 million). Listed and unlisted investments at marked to market value, cost and valuation amounted to USD22.33 million (31 December 2019: USD47.14 million). The combined total of cash, receivables, payables, listed and unlisted investments was USD28.61 million as of 20 March 2020 (31 December 2019: USD53.89 million) which is equivalent to a Net Asset value of approximately 7.94 pence per Polo share (31 December 2019: 13.18 pence per share).

[shawzie] 05/1/2022 21:02

888ICB - Polo has valuable assets which would greatly strengthen GCM’s balance sheet and finances.
Can you identify these assets ?
I seem to remember the 2019 accounts for Polo showed “the impairment charge of USD2.45 million against Prism Diversified Ltd (formally Ironstone Resources Ltd) “ etc, etc.

[888icb] 05/1/2022 20:00

If we obtained GCM shares in place of our Polo shares that would give you shares in a listed company that you could sell if you wished. Polo has valuable assets which would greatly strengthen GCM’s balance sheet and finances. I have suggested it before and would be a potentially good outcome for Polo shareholders.

[dbno] 05/1/2022 18:03

How would that effect us poor Polo shareholders?

[russman] 05/1/2022 17:59

Polo could reverse into GCM.
GCM is bust without Polo /Dyani providing more capital.
Who else would give Tang more lucre.

[888icb] 22/12/2021 18:48

An extract from the GCM report:
We have remained focussed on delivering returns on shareholder investment through packaging the Project in its best possible form with the key step still being approval from the Bangladesh Government. It is worth reflecting, however, on what actually constitutes the Project. Firstly, and most importantly, the Project's core asset is the proposed Phulbari open-pit coal mine development, which would deliver over 15 Mtpa high quality thermal coal for at least 30 years. Based on the latest, highly energy-efficient Ultra-Supercritical power plant technology, the Phulbari coal mine's full production would support 6,600MW. Secondly, to ensure the mine's economic sustainability, we have put in place arrangements with development partner Power Construction Corporation of China, Ltd. ("PowerChina") to establish a minimum power plant output totalling 4,000MW. This would ensure a reliable market for the bulk of the Phulbari coal and provide time to determine the best market for the remaining production.

During this last Financial Year, we secured a strategic coal mine development partner with the signing of a Framework Agreement on 12 October 2020 with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. ("NFC"). On 6 December 2020, PowerChina agreed to an extension of the original memorandum of understanding ("MoU") established with NFC and PowerChina relating to coal mine development, to allow formal continuing discussions in regards to PowerChina taking a higher level of participation in the Project. This MoU was extended for six months on 6 June 2021 and again extended on 22 November 2021 to run through to 6 December 2022. Also, on 19 January 2021 the Joint Venture Agreements with PowerChina for the initial 4,000MW (two 2,000MW Stages) were extended to 15 March 2022

[russman] 22/12/2021 17:25

Tang has got the begging bowl out at GCM.

[russman] 22/12/2021 05:11

Mettiz Capital Ltd
Penthouse
8 Jalan Abdullah
59000 Kuala Lumpur
Malaysia
T: [phone]

[longjohnsilver1] 17/12/2021 23:12

Poor cat if its his pets name 🤣

[russman] 16/12/2021 17:05

Maybe his pets name.
At least dead cats bounce.

[longjohnsilver1] 15/12/2021 10:37

Game over for this dead cat

[russman] 14/12/2021 19:43

Dyani or Nydia as Tang calls her.