why are polo buying?, page-7

...and right on cue: http://fool.uk-wire.com/cgi-bin/articles/200903311118358061P.html

Mr. Dattels, Executive Chairman, said:


'Polo has made a strategic decision to refocus its human and financial resources in the uranium sector. Polo's previously announced agreement with Berkeley Resources Ltd. was the initial step in the Company's programme of acquisitions. The investment in Extract, the owner of the Rossing South uranium deposit in Namibia, is a further major commitment of Polo's financial resources in what the Directors believe could be the largest uranium discovery in the world. We believe Rio Tinto's 15.57% shareholding in Extract represents an endorsement of Extract's prospects and of the Rossing South deposit in particular, Polo considers it necessary for Kalahari and Extract to remain independent from Rio in order for them to fully secure the inherent value of Extract's projects for their shareholders. Polo understands that Kalahari shareholders voiced the same concerns when they refused to endorse the potential merger between Extract and Kalahari over concerns that Rio Tinto could emerge with a controlling interest. In the opinion of Polo this would be 'value destructive' to Extract shareholders. An additional concern is the fact that Rio Tinto's Extract shareholding has or may be transferred to The Rossing Joint Venture which is 15% owned by the Government of Iran. Any such transfer would normally require the prior consent of the Australian Treasurer under Australian foreign investment laws and it is unclear if this approval has or will be obtained. The Directors of Polo further believe that there are many better alternatives to create value for Extract shareholders than a joint venture with Rio Tinto.'

War has been declared. ;0)