AIM Soiree Butler Polo Resources POL.L

Polo ResourcesPolo Resources Limited (AIM and TSX: POL) is a globally focused natural resources and mine development investment company. We select, acquire and manage substantial investments in companies and projects with strong value enhancement potential and attractive growth prospects, and utilise this ability to deliver value-adding returns.

Polo Resources is trading above the moving 50 day average and above the moving 200 day average on above-average volume.
Visit the Polo Resources website.
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  • GCM/Orchard by Spight
    Mon, 20 Oct 2014 21:00:00 GMT


    GCM Resources updates on OECD review




    By StockMarketWire | Mon, 29th September 2014 - 13:46


    GCM Resources, a London based resource exploration and development company has provided an update in relation to the timing of the OECD review previously announced on 20 June 2014.

    The Company has been advised that the review which is being conducted by the UK NCP Steering Board Committee will not be completed by 30 September 2014.

    No definitive timeframe to completion has been given.

    The Company will provide an update as soon as the review is finalised
    By Spight
  • Re: WOW by spotyplonka1
    Mon, 20 Oct 2014 19:24:00 GMT

    link By spotyplonka1
  • Re: GCM UP 30% by Orchard Gate
    Mon, 20 Oct 2014 17:33:00 GMT

    "OECD REPORT OVER DUE"

    But OCD posts arrive on time.

    p.s. Try taking CAPS LOCK off By Orchard Gate
  • Re: GCM UP 30% by Spight
    Mon, 20 Oct 2014 13:25:00 GMT

    OECD REPORT OVER DUE. By Spight
  • GCM UP 30% by Spight
    Mon, 20 Oct 2014 13:20:00 GMT

    HAS SOMEONE LEAKED NEWS TO OUR PRECIOUS M/M By Spight
  • Re: Rock bottom? by spotyplonka1
    Mon, 20 Oct 2014 11:19:00 GMT

    personally think reference to the asiason thing more to go....4p to make it right.

    gold, oil, coal, potash

    link

    By spotyplonka1
  • Rock bottom? by alpal
    Mon, 20 Oct 2014 09:28:00 GMT

    With a little bounce in the share price today, one has to ask whether we have hit rock bottom and the only way is up?

    Or [like Costa Concordia] have we hit the rocks on the bottom and are slowly sinking? By alpal
  • blackham by kwpn
    Mon, 20 Oct 2014 08:19:00 GMT

    Blackham has requested suspension be extended to Wednesday By kwpn
  • Re: WOW by Orchard Gate
    Fri, 17 Oct 2014 16:36:00 GMT

    Yes and I wonder how Mrs Thatcher is getting along these days. By Orchard Gate
  • Re: WOW by pitstok
    Fri, 17 Oct 2014 13:05:00 GMT

    Yippideedoodaa!!

    Good morning all!!

    Well...sort of. By pitstok
  • WOW by kipngail
    Fri, 17 Oct 2014 10:51:00 GMT

    Great news about Mafeking !!! By kipngail
  • Re: A Good Read by Orchard Gate
    Fri, 17 Oct 2014 10:00:00 GMT

    Maybe I'm missing it but what is the point in reposting company announcements which anyone who is interested can read here (or on the co. website) for themselves and which, in any case, were released over 7 months ago?

    Next you'll be telling us we got the Falklands back and that Mafeking has been relieved. By Orchard Gate
  • Re: A Good Read by Spight
    Thu, 16 Oct 2014 14:58:00 GMT

    HAHA yes. By Spight
  • Re: A Good Read by alpal
    Thu, 16 Oct 2014 14:55:00 GMT

    Spight: I know you're trying to cheer us up but that report is now likely to be eligible for a literary fiction prize. By alpal
  • Re: A Good Read by Spight
    Thu, 16 Oct 2014 13:47:00 GMT

    Coal

    Polo has a 27.8 per cent equity interest in GCM Resources Plc ("GCM"), which is advancing the development of the major Phulbari Coal Project in Northwest Bangladesh.

    GCM has identified a world-class coal resource of 572 million tonnes (JORC compliant) in Northwest Bangladesh, called the Phulbari Coal Project ("the Project"). The Project is a substantial coal resource with potential to support a long life, low cost mining operation and is the only such deposit in Bangladesh that has been subjected to a full Feasibility Study, including an Environmental and Social Impact Assessment prepared to international standards. The Project has the potential to produce high quality export grade coal at competitive average stripping ratios and low operating costs, for an initial estimated 35 year mine life.

    Over the last six months the Bangladesh Government has continued to restructure the country's energy sector towards coal-fired power plants which, when in operation, will significantly increase the demand for high quality thermal coal within the country. Utilisation of domestic coal resources is essential to Bangladesh's future energy security.

    The Bangladesh national elections were held in January 2014 leading to a second term of office for the Awami League Government. Over the next 12 months GCM will continue in discussions with the Government of Bangladesh to progress the Project.

    Board Changes

    During the period under review and subsequently, there have been several changes to Polo's Board of Directors. These included the retirement in October of Stephen Dattels the original founder of Polo and former chairman.

    Ian Burns stepped down as Finance Director in January 2014 with Gary Good FCA, the Company's CFO since 2008, continuing his role. Non-executive director Guy Elliot also left the board following six years of service.

    Polo is currently working to strengthen the board and looks forward to making announcements in due course.

    Financial Position

    The Group reported an operating loss of US$1.12 million for the six months to 31 December 2013 (31 December 2012 US$6.47 million after US$5.0 million impairment charges). Administration costs were reduced 45 per cent to US$886,000 for the period in line with management's plans to streamline the business.

    The Directors have reviewed the Group's budgets for the 2014 calendar year, as well as longer-term financial cash flow projections and have considered a range of different scenarios together with their associated risks and uncertainties, and the impact of these scenarios on the Company's cash balances. They are satisfied that the Company maintains a strong financial position, enabling Polo to take a flexible approach to the acquisition and disposal of investments.

    As at 7 March 2014, the Group had a net position of cash, receivables and short term liquid investments of US$40.2 million (including the proceeds receivable from the Signet share buyback). Unlisted investments at cost and valuation amounted to US$96.1 million and long term listed investments marked to market value amounted to US$5.3 million, giving a net asset value on that basis of US$141.6 million equivalent to approximately 31.3 pence per Polo share (31 December 2013 32.2 pence
    By Spight
  • man salad bar by leonasdad
    Mon, 20 Oct 2014 22:09:29 GMT

    link

  • take my hand... by leonasdad
    Mon, 20 Oct 2014 21:02:46 GMT

    link

  • . by leonasdad
    Mon, 20 Oct 2014 19:30:20 GMT

    link

  • GCM shot up by Drew57
    Mon, 20 Oct 2014 15:28:38 GMT

    over 25% earlier, but we hardly moved. Another p & d?
  • RE: Blacham by Jonah58
    Mon, 20 Oct 2014 07:05:24 GMT

    Looks like they are suspended from quotation until wednesday, pending "the completion of a proposed funding transaction". Any ideas?
  • RE: NB by Masterbaker
    Sun, 19 Oct 2014 14:11:44 GMT

    looks like you've seen my work and medical records as well.
  • RE: Blacham by okenia
    Thu, 16 Oct 2014 16:28:57 GMT

    The funding news is here, page 2 of the Trading Announcement news link

    link

  • Spight by TheRealPukMan
    Thu, 16 Oct 2014 14:10:27 GMT

    What on earth is Spight doing posting historical data on the other board??? Its now and future that I am interested in, not 2013 However, a good point made below. "As at 7 March 2014, the Group had a net position of cash, receivables and short term liquid investments of US$40.2 million (including the proceeds receivable from the Signet share buyback). Unlisted investments at cost and valuation amounted to US$96.1 million and long term listed investments marked to market value amounted to US$5.3 million, giving a net asset value on that basis of US$141.6 million equivalent to approximately 31.3 pence per Polo share." So we are saying if we sold all our assets now, we would get 31.3p per share??? SELL THEM !!!!
  • Blacham by bakky
    Thu, 16 Oct 2014 11:55:30 GMT

    can't see where it says anything about funding- placing or anything else?
  • Pol by okenia
    Thu, 16 Oct 2014 10:28:49 GMT

    Ooh, activity! Let me look later, am in board mtg at moment. Wonder if Pol are participating or whether Tang is persona non grata after the Gutnick episode.
  • RE: NB by NathanBryce
    Thu, 16 Oct 2014 10:13:03 GMT

    Yes - I was reading the latest edition of 'Ill-Health and Inefficiency'. Have now seen your post.
  • NB by Masterbaker
    Thu, 16 Oct 2014 10:08:03 GMT

    Have you been reading the paper sitting on you commode? Seen my 10:19 post?
  • RE: Okenia by NathanBryce
    Thu, 16 Oct 2014 09:49:27 GMT

    "Asx website share trading halted at request of Blackham pending fund raising announcement." says kwpn on iii.
  • RE: Okenia by Masterbaker
    Thu, 16 Oct 2014 09:34:11 GMT

    Of course, other views and opinions are welcome.
  • Okenia by Masterbaker
    Thu, 16 Oct 2014 09:26:07 GMT

    what is your opinion on this?, l know you're not in any more, but guess you still have a view.