polo buys into moz!!, page-17

juanamigo

Stephen Dattels is no mug ... he is one smart dude, having made massive dollars selling Uramin to Areva, and the big investments he made in Extract & Kalahari minerals.

Here is the ProactiveInvestors report on this move:

Mozambi Coal substantial shareholder Polo Resources boosts stake to 12.5%
Tuesday, April 12, 2011

Mozambi Coal (ASX: MOZ) has received a notice from substantial shareholder Polo Resources (LON: POL) that it has boosted its stake in Mozambi.
Polo acquired 1.5 million Mozambi shares on market on 11 April for a consideration of $590,408, for an average entry price of $0.39, the stake now 12.51%, up from 11.08% on 7 April.
Earlier in the month Polo acquired 11.645 million Mozambi shares.
Mozambi has the right to earn a 70% interest in two licences covering an extensive 385 square kilometres, located in the highly prospective Zambeze Coal Basin - home to one of the world?s largest undeveloped coal basins.
Adding to the potential of the project is the proximity to significant coal deposits and resources, including the Riversdale Mining (ASX: RIV) Benga project, the Zambeze project (Riversdale), Moatize project (Vale)(NYSE: VALE), Ncondezi project (Ncondezi) and 871L coal project (ENRC).
The Mozambi licence area lies immediately to the southwest of the Riversdale Mining tenement EPL946L. Riversdale's Zambeze project has an Indicated and Inferred Resource of 9.0 billion tonnes of coal.
Over 17 billion tonnes of coal have been identified in Mozambique coal seams.
One of Mozambi's licences is located 12 kilometres west of Tete and extends over 172 square kilometres. Tete is 1100 kilometres north of Maputo, the capital of Mozambique and is serviced by several airline flights daily.
Upgrades and refurbishments to port and rail infrastructure will enable capacity growth in the next 3 to 5 years. Road and other modern communications facilities have been upgraded and the Moatize to Beira railway has been recently re-commissioned by the Mozambique Government.
Mozambi has established an exploration target between 3.1 and 3.9 billion tonnes of coking and thermal coal.