Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Continuing to climb - suspect that POLO might join in later . . . or should that read "hope POLO might join in"
Cam - Flights, limo hire, accommodation, "subsistence" and entertainment are often said to be incredibly income-generating expenses...
https://www.proactiveinvestors.co.uk/pdf/create/news/details/47732
I have never got my head round this. His 12% investment in Polo is still less than the current market value of the whole company. So did Tang think Polo was worth £100m? Dattel and co walked away laughing IMO.
So what is Polo really worth and will I ever see any return from the shares I bought all those years ago!
Comments please
SB
Cam, Obvious (to me at least). They have invested here for years and years, written off US$6.63m, and no further forward that they can report on.
Cam,
https://www.investegate.co.uk/polo-resources-ltd--pol-/rns/ironstone-resources---investment-update/201512010700074389H/
I don't know its value in the books but Polo wrote "down of its Ironstone investment of US$6.63 million" 1 Dec 2015. But does it mean written down BY US$6.63 million, or does it mean the total value was US$6.63 million and that it was written down to zero?
For what it is worth, I have in any case wrote down Prism (Ironstone) to ZERO in my books a long time ago. Its was a totally disastrous investment.
Gave into temptation - only a little - and immediately someone sold 50k of POLO shares! Still GCM now up 21%
Found new coke for boiler - steaming again.
GCM looks to have run out of steam - another false dawn? Tend to agree - wait and watch.
Your choice. There have been plenty of P & Ds over there. Polo usually lags well behind GCM so if something genuine pops up you should still have time to get in here.
GCM up 9% - am I tempted to add here? I am but history suggests I should resist temptation.
When can Celamin take over TMS's 49% stake in CPSA as part-payment towards TMS's liabilities under the arbitration decision?? This is such a clear-cut case but still it takes a ridiculously long time to conclude.
https://www.investegate.co.uk/polo-resources-ltd--pol-/rns/celamin-holdings-ltd---investment-update/201901071019173699M/
I wouldn't read too much into this, Folder. The close of play price quoted is the bottom of the 16% spread. This seems to happen quite frequently with Polo giving rise to the fallacious appearance of price volatility. Someone clevere than me can no doubt explain why Polo is set aside for this anomaly.
GCM up a bit on news that we are still in negotiations with Power China, but are unlikely to reach an agreed way forward by the previous deadline of Dec 31st. I wish companies would not give deadlines if there is a significant chance they wont be met.
You have got to love Polo - GCM up 2.8% so POLO? Down 7.7% - Happy Christmas
I agree PukMan. I remember reading that some years ago Mr Tang stated his objective was to return value to shareholders through an increase in the share price. We can see how that has turned out so far.
NAV is only potential assets. Some of those assets could collapse tomorrow and therefore the NAV would be a lot less. Until the assets are sold and converted to cash then its all hypothetical really. Under the tenure of Dattels, assets were purchased, value was realised and sold returning profits to shareholders. This is what Polo is all about but when the Datuk had an opportunity to do this a couple of years ago, he didn't return anything to his shareholders. Pretty much sums up why this investment is not liked because value is not returned to shareholders. Either the assets get sold and value is returned to shareholders by way of a special divi or you ride the GCM gamble and take your chances - only two ways of this of this rubbish doing anything IMO.
I’ve been here for quite a while and disappointed with the large discount of the SP compared to the underlying asset value. Doesn’t make sense to me. If,as you suggest the NAV could be 15p, then surely the SP should not be showing a discount of 75%+ - or could it?
I am a long term holder in Polo and have quite a lot of skin in the game. Am hoping next year we will have at least a couple of big rerate here. Firstly when we get news of current NAV which could be as high as 15p and secondly green light news at last for gcm. The other assets could also make progress. Two downsides to consider Datuk Tang has awarded himself quite a lot of free shares and also clock running down on gcm mining license. I think go ahead can only proceed within the next 30 months or possibly end of the road for this project. Would like to see share price reflect 75% of current NAV
I agree Folder , if there is a earthquake on Mars Polo sp will rocket . Meanwhile down on earth it will stay the same . lol .
Interesting RNS and something seems to be stirring with GCM again.
I imagine that should mean the POLO sp with stay still.
that is about 9p a share alone to Polo.Just shows how undervalued this is.
Polo @ 8.75% is worth about £28m ...is that correct or is my maths wrong?
Final results should be published before Christmas. It will be interesting to see what the net asset value was at year end and whether there will be an update as of now. NAV should be significantly higher, although the US/China trade talks are depressing the SP
it was 40p
or was it 40p? per polo share
hibiscus and cash makes this cheap, gcm could be a massive bonus. tang is gambling as you put it with his own money too, forget the large % he holds after buying at 20?