I've done some more research on Polo and Extract.In March 2009,...

I've done some more research on Polo and Extract.

In March 2009, they bought over 12 million shares at prices from $2-3 and lodged a substantial holder notice on March 29, 2009. In April 2009, they bought more shares and lodged a notice on April 29 saying they had reached a total of 23.2 million shares, topping up at prices of up to $5.(graph the historical share price for EXT to verify this).

In July 2010, they sold 4.5 million shares at between $6.50 and $7 and sold the balance of their stock in August at circa $7 (18.6 million shares for $130 million).

Whilst I haven't done the precise calculations, I reckon they would have conservatively banked a cool $80-90 million.

So now they've taken a 12.5% stake in MOZ, have bought it quickly and not mucked around, I reckon we can be confident that they potentially have more buying to do and really like the risk/return.

Tibbs, any further thoughts ??