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Any questions anyone would like asking at the reconvened AGM?
Even if GCM comes good, how are you going to realise this value through your Polo shares? Tang can keep milking his £2M/year and never pay a Polo dividend (why would he?). If the shares are delisted you won't be able to sell to make a capital gain either. Maybe this is his plan.
If it is, then I can't see any right-minded investors financially backing GCM with this guy pulling the strings. If he screws us over why not GCM investors as well.
I saw the initial drop and post on here and put a buy in at what I thought was silly money, I was very surprised when it got taken, 1.15 got to be the lowest ever, and the value volume was paltry in the scheme f thingsI don't doubt there will be a new nomad, and though I don't entirely disagree about Tang tenure I do think his interests are aligned with mine, he, and his friends have sunk huge amounts into GCM, to us it may all seem a big gamble, but I bet he doesn't see it that way, and I'm betting he has know all along he had a good chance of getting GCM past the post, he is in a mix of similar minded cultures and I'm pretty sure knows just how to navigate those waters, so despite the few negative posts on here i am bullish, and grateful, and have no opinion for anyone else.
The way this company has been run by Tang is an absolute disgrace. He has been a scandal since taking over and has just milked the company and not rewarded the shareholders
Total Net Assets for the six months ended 31 December 2019 were USD53.89 million (30 June 2019: USD60.16 million).
· Total Net Assets of USD28.61 million as of 20 March 2020 (31 December 2019: USD53.89 million).
· Net Asset Value per share as at 20 March 2020 was approximately 7.94 pence per share (31 December 2019: 13.18 pence per share).
If you look back through the results...Administrative & Exploration expenses (2,263)..over 2.2 million
against a mkt cap then of 8.5 million. The company cannot possibly cope with such costs long term.
As I said below.....dire. Another 13 per cent down today and unless a replacement soon, headed well below 1p. If polo delists my personal view is investors will never see a penny.
My guess is that nobody wants to work with Tang. Not only is he taking an amazing amount out of the company in salary and fees as most of us and one larger holder have pointed out, but his investments seem to be a bit bizarre as he only invests in the same stocks. The meeting etc are held at strange places.....in this huge bull run NAV has fallen by vast amounts . So maybe the Nomad has just got fed up with Tang acting as if this is a private company where he owns all the stock. This is hardly unique I should add and nothing illegal I guess but this has little left now.
Morning all,
Been in here a long while and was thinking of topping up at these low (and hopefully still below NAV) prices. Did some looking over the weekend and came across the news that our NOMAD has resigned. If we don't get a replacement, and the current lot didn't resign for no reason I guess, we could be heading for a delisting .... surprised no one has commented ..
Resignation of Nominated Adviser
Polo Resources Limited (AIM: POL), the multi-sector investment company with interests in oil,
gold, coal, copper, phosphate, lithium, iron and vanadium, announces that Allenby Capital Limited
("Allenby Capital") have served notice to resign as the Company's nominated adviser. It has been
mutually agreed between the Company and Allenby Capital that this resignation will become effective at the close of business on 31 August 2020.
Pursuant to Rule 1 of the AIM Rules for Companies, if an AIM company ceases to have a nominated adviser, trading in its AIM securities will be suspended. Accordingly, if no appointment is
made by 31 August 2020, the Company's shares will be suspended at 7.30 a.m. on 1 September
2020. If, within one month of that suspension the Company has failed to appoint a replacement
nominated adviser, the admission of its AIM securities will be cancelled.
The Company will endeavour to identify a nominated adviser to succeed Allenby Capital and shall
update shareholders in due course.
Down over 20 per cent today. Dire.
With an over 33% spread, the market makers are not promoting buyers
NAV here is a multiple of the SP
If the BOD concentrated its efforts on communication with its shareholders rather than fighting with them the SP might advance
Wonder why this is happening
At last a bit (not a lot) of trading activity and an upward trend in the SP
Bangladesh needs the electricity and only way it will get is by coal theres no other options for them
And GCM up another 10% this morning
Gcm shares difficult to buy so added here 40k at full price
GCM is up over 18% this morning, but no change in the bid/offer price for Polo
Papachav, I had the same problem, visit:- http://www.poloresources.com/ and click on the 4th May news RNS.
Lse shows an rns ref Hibiscus but wont display , any idea guys ?
Although there have been no trades yet the opening quoted spread is over 60%!
*sight!
Anyone know if these are good or bad? I know they somehow relate to Phronimos' letter. Was this change in voting power that Tang was trying to get through and Phronimos was trying to stop?
I do find it remarkable that Tang can be working on these things in open site but just won't address anything that Phronimos has raised. Just seems so underhand.
if the oil theory comes good, you will make capital holding this ( it used to be at 3-4p) and you still have the huge kicker from GCM if it goes live. This is a retirement maker in my opinion. DYOR
depends how you trade.
if you believe Hibiscus will rally this is good. Saudi and Russia were trying to boost production to kill shale. shale needs-40 to 50 USD break even. Hibiscus is much lower. Shale will get killed
This one does look very interesting
I believe our share of GCM is much larger than 30%.
We will have a 30% direct holding post completion of announced transaction
From memory we also have a convertible note for 3.5m convertible at around 10p a share. so that is worth 7m+
I don't really get why people buy GCM directly, Hibiscus covers the share price. >30% of GCM for free. If for any reason it does not go through in GCM you loose your cash in GCM, here you have some protection from holding in Hibiscus.
if GCM was even work 100m ( will be more) we probably have 40% post dilution and 40m vs our current market cap is very nice.
opec+ also meets today, so if oil can claw back, hibi will rise and our safety net will be even better
If GCM works and is work even 100m, probably we get 40% so 40m. a huge uptick on our current stock price.
Ridiculous that we have £8.4 million value in our share of GCM alone let alone the other interests we have and yet our MC is only £7 million