itochu buying 10% of ext for us$170m?, page-77

Champ, I have tried to tell you this, below is just one peice of the puzzle,

It goes just quickly like this OK, we have been researching this stuff over Europe, but due to the intense negativity that happened here on Hot Copper, a lot of the smart posters that were getting back to us left. You must remember that!!!

So, just quickly because I am tired of telling you.

SD had his shares for sale for a long time, we know that, its why he snatched it from the board because he was getting inside info by companies being given an opportunity to cut a deal remember that?

Polo in the meantime sold ext to buy into coal, they did a cap raising and made a attempt at Caledon. They pulled out for some reason of that deal (cant remember why it is late)

In the meantime their shares started to languish now that they had sold ext. They were now trading at 2.5p, then Laxey came in. Laxey buys undervalued companies and split the assets and make money that way.

Polo sells its Mongolian Asset and announces a 3p divvy to shareholders in an attempt to get share price trading back up, which it did, but the Mongolian asset will not pay the 3 p to shareholders.

I think I have it all right, the following is a post made by Gero. Trust me Champ, there is a lot of stuff going on behind the scenes. If you dont believe me then I strongly suggest you start doing your own research because It is my opinion you are only seeing what is happening on face value.

These posters are not pulling your leg. I am tired and off to bed, sorry if I made any errors in my quick type up.

Harlee



Corporate Update

TIDMPOL
RNS Number : 0937P
Polo Resources Limited
09 July 2010

Polo Resources Limited ("Polo" or "the Company")

Proposed investing policy, preliminary approach and proposed meeting of Shareholders

Following the announcement on 30 June 2010 with respect to the sale of its interests in Peabody-Polo Resources B.V., Polo Resources (AIM and TSX: POL) is now categorised as an investing company for the purposes of the AIM Rules. Polo announces that it is proposing an investing policy, the full text of which is set out at the end of this announcement, for approval at a meeting of shareholders ("EGM") which is expected to be held at the beginning of August 2010.

Polo reports that it has been notified that Laxey Partners Ltd ("Laxey") holds 4.04% of the voting rights of the Company as at 2 July 2010 and that Polo has received a non-binding indicative offer letter ("Letter") from Laxey. The Letter, which is subject to due diligence and any regulatory conditions, states that Laxey is considering making an all share offer to acquire the entire issued share capital of the Company through a special purpose vehicle ("Offeror") in consideration for shares in the Offeror. The Offeror, which would be an investing company for the purposes of the AIM Rules, would then apply to have its issued share capital admitted to trading on AIM. The Letter notes that the investing policy of the Offeror would be the orderly realisation of the Company's portfolio and the return of the net proceeds to shareholders. The Offeror would appoint Laxey as its investment manager and seek to capitalise any costs relating to the establishment of the Offeror and facilitating the transaction. The Directors of Polo have rejected the indicative offer contained in the Letter.*

Since the Letter was written, Polo has announced the termination of its merger discussions with Caledon Resources Plc and the disposal of its interest in its Mongolian joint venture by the sale of its shareholding in Peabody-Polo Resources B.V. As announced this morning, Polo and its wholly owned subsidiary, Polo Australasia Limited have also signed an agreement for the sale of its shares in Extract Resources Limited for a total consideration of approximately AUD157.9 million and the directors are currently assessing the most suitable manner in which to return value to shareholders through the use of the sales proceeds, which as announced on 2 July 2010, subject to receipt of shareholder approval, completion of the sale of the Extract shares and receipt of cash proceeds of the sale of the Extract shares, the Board of Polo may utilise part of the proceeds of sale to fund a special dividend to shareholders of 3p per share. The Board of Polo also intends to use the proceeds from the sale of the Extract shares in accordance with its proposed investing policy and for working capital purposes. Polo will update shareholders on the outcome of this assessment in due course.

A shareholders circular and notice convening an EGM to consider and if thought fit approve the Company's proposed investing policy will be posted to shareholders shortly.



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