Resignation of Polo Director from Extract Resources Board
Polo Resources, the AIM and TSX ("POL") listed mining company with coal and uranium interests in Africa, Australia and Asia, announced today that its Executive Chairman, Stephen Dattels, has advised Polo that he has resigned as a non-executive director of Extract Resources Limited ("Extract"), effective immediately. Polo has a strategic shareholding in Extract.
Stephen Dattels, Executive Chairman of Polo, said:
"While I have served on the Extract Board, Extract has made significant progress in identifying the potential of its Rossing South asset as one of the leading development uranium projects in the world today. Polo is a major investor in, and supporter of, Extract."
"However, for its own reasons, Polo has previously announced the evaluation of a range of strategic options to enhance shareholder value with respect to its shareholding in Extract."
"Extract commenced its own review of strategic options in May 2009."
"In view of all these developments, and the demands of my other commitments, including in particular as Executive Director of Polo, I have decided to resign from the Board of Extract."
"I would like to take the opportunity to congratulate the other members of the Board of Extract, and its management team and employees, on their success in recent times, and wish them well for what I expect will be a successful future."
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