Polo Resources POL.L
Polo 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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Re: Re: by Spight
Thu, 06 Mar 2014 09:43:00 GMT
and on the other Signet assets.
oops By Spight
Re: by Spight
Thu, 06 Mar 2014 09:42:00 GMT
and one the other Signet assets. By Spight
Signet by alpal
Thu, 06 Mar 2014 09:29:00 GMT
Do we need to reminf Mr T that he should give us some infomation. And, more importantly, some money! By alpal
Re: Poonft speculation by Orchard Gate
Mon, 03 Mar 2014 20:06:00 GMT
"You mention you are involved in a class action where shareholders in another company have been deceived. You should be very careful that you are not on the receiving end of some more litigation"
I think you'll find that being party to a class action (i.e. being the plaintiff) is quite different to being "on the receiving end of some more litigation" (i.e. being the defendant) so your attempt to link the two ("more litigation") is clearly misleading and probably quite offensive to the person concerned as you're suggesting he has been sued in the past. Which might itself be defamatory, in some circumstances, so you too should be more careful what you say here.
And while I have no information whatsoever which would suggest there was some deal to appear to trade at one price but with quite different economics in reality in this particular case, it has certainly been done before (think share support operations, Guinness, indemnities, buying shares with the company's own money, Polly Peck etc etc).
By Orchard Gate
Re: Poonft speculation by spotyplonka1
Mon, 03 Mar 2014 17:42:00 GMT
developing an eye twitch with drooling anticipation
at least some people make an effort...
Leonasdad 1 Mar'14 - 15:38 - 15852 of 15864 0 0 edit
get the lube out.. this'll be a painful but feggin By spotyplonka1
Re: Poonft speculation by dreamerr
Mon, 03 Mar 2014 17:04:00 GMT
I don't agree with Poonft's speculation but the notion of him/her being sued for demfamation for the allegations in his post is far fetched,
With the new 2013 Defamation Act, for an action to be successful it would have to be shown that serious harm has resulted. As there is very little evidence that anyone believes Poonft's ideas, and given the limited number of readers of these posts, that doesn't seem very likely. By dreamerr
Re: This Time Next Week by Doomsday2001
Mon, 03 Mar 2014 14:30:00 GMT
I was a big fan and investor in 2010 and 2011 when the company paid two special dividends. I also liked the way that the company got a secondary listing which enabled us investors to put the aim shares into our ISA's prior to the divi, very good planning.
I don't have so many shares these days but I still have a core holding and am thinking of adding more in a substantial (for me) way. As im hoping history will repeat itself in the same way re the signet deal.
I was a big fan of the old board im optimistic Michael and co will drive the company forward and reward investors accordingly via special divis.
I did have a bad experience with CEC UUNet, where the BOD delisted from AIM and all shareholders were left without a penny, apparently we still await news, several years later.
Anyway I wanted to thank you for your thought provoking post.
Re: This Time Next Week by The Millipede
Mon, 03 Mar 2014 14:28:00 GMT
"Michael Tang did not pay 40p per share unless he was convinced that Polo was worth a lot more than 40p. "
FWIW I am inclined to think this is more likely than any conspiracy. Some very clever institutions were paying double the market price for JJB Sports shares in the year before they went bust.
Rich, high profile, intelligent does not always equal shrewd investor. IMO that is what we are seeing here with Mr Tang - someone who has made a poor call with his money. By The Millipede
Re: Poonft speculation by Spight
Mon, 03 Mar 2014 10:49:00 GMT
I am proud to be associated with the world class portfolio of assets which Mr Dattels and Mr Herbert acquired and developed for Polo and am looking forward to enhancing and unlocking the portfolio's value as well as acquiring further undervalued and high potential assets for the Company."
Kian Meng Cheah
Mr. Kian Meng Cheah (aged 40) has more than 16 years banking and investment management experience with financial institutions in South East Asia including Standard Chartered Bank and Merrill Lynch International. He has held a number of private company directorships in Singapore and Malaysia involved in private equity and real estate investment. He is an Executive Director and a member of the Investment Committee of Infiniti Premium Resources Ltd., a fund focusing on resource-based industries with current investments in gold mines across Asia, Australia and Africa. Mr. Cheah holds no interest in the issued ordinary share capital of Polo.
Mr. Cheah is also an Executive Director of the Select Equity Growth Ltd. fund with a focus across diversified sectors in South East Asia, Hong Kong and Australia. He holds a Bachelor of Commerce (Accounting) from Curtin University of Technology, Australia.
Change of Adviser
The Company announces the appointment of ZAI Corporate Finance Ltd. as its Nominated Adviser. Investec is also stepping down as joint broker to the Company with Liberum Capital becoming sole broker.
Mr. Tang currently owns 7,480,000 issued ordinary shares of no par value, representing approximately 2.77 per cent of the Company's issued ordinary share capital. Mr. Cheah holds no interest in the Company's issued ordinary share capital. Apart from the information set out below, there are no further details relating to the appointments which require disclosure under Schedule 2 paragraph (g) to the AIM Rules.
Re: Poonft speculation by Spight
Mon, 03 Mar 2014 10:46:00 GMT
Polo Resources Limited Appointment of Co-Chairman and Managing Director
RNS Number : 6682E
Polo Resources Limited
14 May 2013
14 May 2013
Polo Resources Limited
("Polo" or "the Company")
Appointment of Executive Co-Chairman & Managing Director
Polo Resources Limited (AIM: POL and BSX: POL:BH) the natural resources investment company with interests in gold, oil and gas, coal and iron ore, today announces Board changes and a change of advisor.
Mr. Michael Vee Mun Tang ("Michael Tang") is joining the Board as Executive Co-Chairman and Managing Director of Polo and Mr. Kian Meng Cheah as a Non-Executive Director.
Mr. Neil Herbert, whilst remaining as a consultant to Polo with continued responsibilities for Nimini and Signet has resigned his positions as Co-Chairman and Managing Director to pursue a new endeavour.Mr. Herbert will act as an investment advisor to the Company and will remain as a Director of both Nimini Holdings Limited and Signet Petroleum Limited.
Mr. James Mellon has also resigned as a Non-Executive Director given his many other commitments.
Mr. Tang will work alongside Polo's Co-Chairman Mr. Stephen R. Dattels.
Mr. Tang, aged 40, is the principal of Mettiz Capital Limited ("Mettiz"), an investment company with significant corporate and financial experience in natural resources, power generation, manufacturing and real estate. Mr. Tang qualified as a barrister in London and holds a Bachelor of Laws degree from the London School of Economics and Political Science.
Mr. Dattels, Executive Co-Chairman of the Company, said: "Michael Tang's knowledge of Asian markets provides Polo with a springboard to the valuations which the Asian markets provide for high quality natural resources such as those owned by Polo.
"It is expected that Michael will become actively involved in assisting GCM Resources with its negotiations with the Government of Bangladesh to obtain the 'Scheme of Development' for the development of the Phulbari Coal Deposit as well as attracting Asian interest in both Signet's African oil and gas portfolio and Polo's promising developmental Sierra Leone gold deposit, Nimini.
"Commensurate with Michael's commitment to Polo and in addition to his executive compensation, he has been awarded 6 million options at an exercise price of 25 pence per share. The options expire 5 years from the date of grant and vest in three equal instalments on the first three anniversaries of grant.
"I am also very pleased to welcome Mr. Cheah to the Board, who also has significant experience of relevant sectors in Asian Markets.
"I would especially like to thank Mr. Neil Herbert, Polo's Co-Chairman and Managing Director and my partner for all of his superb work from Polo's inception, as well as Mr. Jim Mellon, both of whom assisted in the implementation of a very successful investment strategy that has paid out dividends of 50 pence per share totaling $185.4 million and helped to deliver a strong portfolio of new investments."
Mr. Tang, Executive Co-Chairman and Managing Director, said: "I am very pleased to be joining the Board of Polo Resources. Polo has a strong track record of making sound, strategic investments in the natural resources space and delivering remarkable returns to shareholders.
"I am honoured and excited to be working alongside Mr. Dattels, an illustrious and accomplished entrepreneur, to further develop the Company's exciting range of assets and to building upon the success that the management under his stewardship has already achieved.
"I am also elated and grateful that Mr. Herbert, who has been a major contributor towards Polo's highly commendable performance to-date, will continue to be an investment advisor and Director of both Nimini and Signet.
"I am proud to be associated with the world class portfolio of assets which Mr Dattels and Mr He By Spight
Re: Ironstone resources by okenia
Mon, 03 Mar 2014 10:36:00 GMT
Ironstone specialise in geology and process development. They are an exploration/work-up company. Clear Hills is their biggest thing at the moment but they have a selection of other areas they are prospecting in Canada, this gold being one of them.
They find stuff, prove them up, sell them on. Thus they need some earlier-stage prospects in the pipeline for the time when they've sold-on Clear Hills. I hope these prospects aren't a distraction; they should just be part of the portfolio of activities a company like Ironstone needs to be doing.
Re: Ironstone resources by alpal
Mon, 03 Mar 2014 10:21:00 GMT
What on earth is Ironstone doing by buying into a gold prospect? No matter how good [which I doubt, knowing that Placer aren't going to give it away] it can only distract management attention from developing the iron ore resource By alpal
Re: Poonft speculation by okenia
Mon, 03 Mar 2014 10:20:00 GMT
I think it's useful to remember that Tang personally didn't pay 40p, Mettiz did. Tang I believe does hold some shares in his own name (7,480,000) which I seem to recall - but can't find the RNS - were bought at the then-live price of 19p. Tang also has 6m options with a strike price of 25p.
The most likely scenario in my view is that Mettiz picking up 35m shares on the open market would have caused the price to spike, and thus buying at this price from Dattels was the sensible option. I see no benefit for Dattels Tang and Mettiz putting their careers and freedom on the line by doing the sort of highly illegal hidden deal that is suggested by poonft. Why would you do that anyway ? It's not like it had a massive effect on sentiment and boosted the share price, given it's currently at half that 40p figure.
Whether paying 40p will turn out to have been a commercially shrewd decision in the long term remains to be seen, of course...
Re: Ironstone resources by okenia
Mon, 03 Mar 2014 09:59:00 GMT
Having a local source of coal is a key piece of the Ironstone jigsaw, since they'll be processing on-site to make this heavily enriched iron briquette stuff.
The key thing is whether or not they can get all this stuff out at economic costs - the biggest unknown seems to be the HICS extraction process for this oolithic ore. There was a comment in one of the documents that other such reserves of similar type of oolithic ore proved to be uneconomical to extract, thus driving the development of the HICS process. My question would be what is "plan B" for Ironstone if this new process doesn't pan out (either technologically or in relation to the costs involved)? HICS is labscale at the moment with commercial scale-up being developed.
PEA for Ironstone expected Q2 2014 by the latest comments on the Ironstone website. The HICS process will have to be in place for that since its a key bit of the process.
Turkey eggs. by Stumbler
Sun, 09 Mar 2014 14:12:42 GMT
Don't fly too soon Sharkey, Signet may not be the famous goose but we are about to learn what her first egg is worth and perhaps the rest of a whole clutch!!
MasterB by sharky007
Sun, 09 Mar 2014 11:23:21 GMT
That said Namibia is one of the hottest plays at the moment. There are a few blocks waiting for farmout, hope we got a good deal if Shell came in and didn't want to partner with another explorer . No idea why this stock doesn't move at all, even though it has a major stake in GCM, that does a 50% on rumour alone. This is lucky to do 5! Just give us one spike Polo, need to get out of this turkey. come on ;)
Signet sold to Shell?! by Masterbaker
Sun, 09 Mar 2014 07:41:57 GMT
Ha, Only a fool would try to answer that. Anyway here's my view. First what are we selling? Well, two licences and a lump of 2d seismic, shall we add hope? No oil, no rigs, no drilling, nothing else in fact, that l can discover. May be wrong (not unusual) So what did the licences cost? How much was spent on seismic? How high are wages and overheads etc. Add the together. Multiply by? Insert your own figures. If we said multiplied by 4 times. Would the count as significant returns? X 4 was a random number chosen.
Signet sold to Shell?! by sharky007
Sat, 08 Mar 2014 01:41:51 GMT
why couldn't these retards keep an equity stake and farmout the drill? could be worth billions if they strike. small holding here but peeved off at this opportunity wasted! forgive my ignorance, are we due a "super major" sized payout for signets namib blocks??
RE: Will it be a big payout? by NathanBryce
Fri, 07 Mar 2014 14:06:03 GMT
My state of decrepitude is such that I don't think anything Mr Tang can do can help me, I'm afraid. Still, I must count my blessings - my girlfriend's guide dog has a very poor sense of smell. I pawned my commode a while ago, and will have to make do with our janitor's bucket, should it come to that (and I sincerely hope it wil!!!).
Will it be a big payout? by Masterbaker
Fri, 07 Mar 2014 13:56:10 GMT
Will you be sitting on your commode, clutching a large packet in your lap? Bank managers face aghast, and women queuing up waiting for you to open it and wave your goodies around? l'm already lining up the girls, got one that looks the spitting image of Stephanie on pointless last night (and tonight if you want to see.) Corrrrr front of queue.
Straws mind clutching to spring by Masterbaker
Fri, 07 Mar 2014 13:49:20 GMT
Mozambique is 2 hours ahead of us if decision has to be made in Moz, would that in theory give Polo time to issue an RNS about accepting terms?
Doldrums by POLOMan
Fri, 07 Mar 2014 13:25:06 GMT
Ain't nothing shaking....but the leaves on the trees
From bad to... by NathanBryce
Thu, 06 Mar 2014 13:13:27 GMT
Things are not looking that succulent today. Hope this doesn't bode ill for the next announcement.
Anyone getting excited? by Masterbaker
Thu, 06 Mar 2014 07:21:49 GMT
Make your mind up day the 7th. Will we get an RNS on the ten(a) th? O l do hope so. In case the news is so exciting and l may need more than 1, l have been testing the tenas by the quickest way to pick them up. Strangely the figure 8 wins.
Re:RE: Re:RE: RE: Re:What is to bec by Masterbaker
Wed, 05 Mar 2014 21:14:33 GMT
l was told "if you hit rock bottom, listen very carefully and you will always hear someone knocking beneath you" Unfortunately in this case.... I think it's you
RE: Re:RE: RE: Re:What is to become of by NathanBryce
Wed, 05 Mar 2014 19:26:51 GMT
Nowadays it's the Bank Manager who openly laughs in my face. Women will no longer even look at me.
Re:RE: RE: Re:What is to become of by Masterbaker
Wed, 05 Mar 2014 19:00:11 GMT
would you believe admin censored snig gering
Re:RE: RE: Re:What is to become of by Masterbaker
Wed, 05 Mar 2014 18:58:19 GMT
l too suffer from that complaint, and have done for most of my adult life. Not nice all the whisperings behind ones back. Women s*ing sometimes cruelly laughing in your face. Of course l have had rises in life but nothing massive or stuck out. So l'm banking on this coming good and my position firms up.
RE: Signet by StockBoy
Wed, 05 Mar 2014 12:20:12 GMT
AIM stinks. If real value transpires, why would Tang share this with the rest of us? I have owned shares in other AIM companies and what can happen is that the majority shareholder takes the company private at a knock down price. I am not saying that this will happen here, but there is always a risk. What I cannot understand is where are all the shareholders? Mettiz is controlled by Polo executive co-chairman and managing director Michael Tang - See more at: