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Nobody can disagree with your recap of the past Herb. The future is not yet written however; This stock price has moved into Private equity territory in terms of price to NAV, and a bidder at say 6p could take this private,clear out the ineffective board liquidate the holdings and bag north of £10m, not bad for 6 months work - Where's Gordon Gekko when you need him.!
Look at the NAV since Mr T took over from Dattels. Look at the sp since Mr T took over from Dattels. Both have been on a downward trajectory. Look at Mr T's remuneration for Polo. Has value been returned to shareholders since Mr T took over? Has he increased the sp so investors have profited? Does the Market believe this has a rosy future? The sp over some years and the NAV over several years will give you the answer.
Yeah thx for correction quite surprised at current shareprice. I have over 1 million of these bought the last lot about 2 months ago. I think average about 7 so am well down, probably like everyone else but the story here looks good now and going forward. I think when ironstone starts producing then things will really kick on. Personally as hib pet is doing so well I would like some profits returned to us when about 1.6RM reached maybe as soon as next year.
Selling price is 20% of the NAV ya mean, it just crazy...The only thing I can think of is TANG has a terrible reputation amongst the big boys which is why no one touches anything of his..
Hib Pet just closed at 1.07 RM now polo has 8.75%that's about £28 million, the NAV must now be about 20%of selling price!!!
I bought polo at 15p......5.5p .is horrendous let alone 3p
At the start of the year Hibi hit 112R and Polo 5.5p !!
I hope you're right but this thing doesn't move nor do you get any info out of tang.
Great time to buy in my opinion looked at hibiscus petroleum it seems to be having big increase
Ha ha down we go....well done Tangy
Big drop on no news. If anything has happened it's that GCM is up by 17% so a good day and also hib pet holding steady. If only buy price would come down I would buy more have to keep looking every now and then.
I see share price went up at market close, I suppose it is so it can be reduced and tempt sellers. The best way to create a market.I think the best asset for polo is currently hibiscus I note at NAV quoted last year hib price was 0.83 it is now at 0.97 a 19% increase so book price of polo now much improved. Unlike others I don't think GCM will happen far better outcome for Prism diversified which has great potential and in Canada a more sensible place.In a few years this share price should motor but do your own research, hey I could be wrong, I'm just using my own logic.
See spread has increased not such a good day to buy. Mind you sellers will carry on, good way for MM's to bag some cheap shares to resale when sentiment improves. Will consider buying on dip days only. Good luck all long term holder's.
Total is 1.556billion Malaysian ringits. X change rate 5.33 to 1 pound. Polo share about 9.5% so amounts to North of 25 million pounds Polo market cap is sub 10 million, so their is quite a safety net!
Bought some more today, valuation seems very low polo has over 9% of hibiscus petroleum which seems on a good growth path. I think polo will come good but probably need to be thinking 3 to 5 years time.I would think there should be an improvement in NAV when next reported, helped by weakness in the pound. Sometime it will look attractive to be bought out but could be after Prism goes into production. Good luck all holder's, it is said the darkest hour is just before dawn!!
I wonder what Tang's 5 year plan is. Having done all he can to upset shareholders,the price is on the floor. Current NAV somewhere between 10 to 20p so is it a good opportunity for the brave to buy. Corporate governance has been poor, can a leopard change its spots? Can't decide whether to average down or hold and sort of write off investment.
No significance, Hugh-Jarse? Speaks volumes, I would call it. Polo calls it "change of advisor" but it looks like "resignation of broker" by Liberum Capital. Liberum has been Polo's broker since 2 August 2011 and this year after enough certainly was enough they flushed Polo out with this year's spring cleaning's exceptionally dirty water. What next??
https://www.investegate.co.uk/polo-resources-ltd--pol-/rns/change-of-adviser/201807271512120585W/
Another cracking RNS of no significance what so ever !
Sent from the bottom drawer. Hugh.
From today's update from Pan Asia:
The TCM coal mine sale is still due to complete 15 August but Pan Asia says some delays can be expected.
What I don't like is Pan Asia's repeated statement about Polo's charge on the mining shares that they plan "to further engage with Polo to seek a commercial restructuring of this security" when the mine is being sold to Glory Merry Ltd.
Therefore what I fear is that rather than Polo getting the 5 mill Singapore dollar loan (plus 15% annual interest) repaid, Tang will instead settle for another a charge over another kind of project which is even "bigger and better" than the current disaster involvement.
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02003165
The stock price beggar's belief - Just when you think the price cannot get anymore ridiculous. When it was suspended a few months back,and the chatter was rife with fear of delisting, it was priced at 3.5p mid, now 3.25p mid. Centamin has relisted, Hibiscus Petroleum is firm and the other bits are atleast still going (apart from Weatherley of course) If i were a deal maker I might have a pop at this, swaps on the stock holdings and then bid 6p, Kick out the current board and bag £15-£20m after costs (even accounting for the Tang poisoned pill) Nahhh I think i've been out in the sun too long - stick the money into something with Corporate governance standards instead !!
Yep - I think I am going to cut my substantial losses and clear out of this pile of dog dirt also. Sick and tired of investing in AIM and helping to line the pockets of directors and Datuks
I AM OUT!!
All news released by Polo is about crony agreements, 10% dilutive options to Tang & friends and nothing about the business.
Polo had a chance in today's RNS to say a few words about what they have done since the Chinese were given this coal power prospectus. But as usual - SILENCE. ( of course - nothing ...)
Don't mind giving share options to hard working management, but effectively 9.7% dilution of ownership is a outrageous price to pay for one single year's option granting. It is completely outside the scale of any normal corporate governance conduct. And these 20 mill options to Tang increases his potential shareholding by 51%. And personally I don't believe Tang will work any harder (for ALL the shareholders) with these options than without. He has after all a considerable sum invested in Polo already which should be enough motivation for him to achieve value growth.
At least Tang apparently wants to buy more at over the current price, so I look forward to a sp of 4.5p. Whooopeee!!!! hahahaha