The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Haha " my Caeser moment.".. that did make me chuckle. Thanks for the summary.. interesting to read Mr Grump - what are you smoking- I don't understand anything you say?! Sounds like something off google translate
MB - interested to know your thoughts on how you see this as you've been the heart of this board for some time?
Agreed MB, I've considered the variety of opinions mentioned from their assets to going private to Divis and its not easy to pass judgement! Personally, for me signet is a bit of an acid test and whether or not the board elect to redistribute proceeds. Believe it will possibly give some sort of indication as to how they see things and how sceptical I should become
Eh?!? You really are a grump....
Haha...Yeah, believe it when I see it.!! If they have any sense they should jump on this chance and return it to shareholders - their cash position is fine for the time being and with commodities depressed and no meaningful return on the other investments likely in the near future, its the perfect opportunity to send the right message, create goodwill, and show they actually care about their shareholders. I'm not holding my breath though... its better to be pleasantly surprised one random day soon then bitterly disappointed!
http://www.investegate.co.uk/polo-resources-ltd--pol-/rns/update-on-signet-petroleum/201511090700109699E/ So signet shareholders are getting their cash back. This is a great opportunity for tang to give us something back as a gesture to try to rebuild some faith.... Its why I invested here in the 1st place during Dattels days. But I don't expect anything anymore...
Thanks for sharing the link Masterbaker. Nice to see WTI up 12% and GCM up 16% today too.. every little helps! Not so nice to see Polo stuck below 4 though
OECD Process Concludes on Release of Final Report GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce the UK National Contact Point to the OECD ("NCP") has today published a Follow-up Statement (the "Report") which completes the final stage of the OECD process. The Report allowed parties to provide their final update on activities, normally twelve months following the publication of the Final Statement (previously announced on 20 November 2014). The Report can be found at https://www.gov.uk/government/collections/uk-national-contact-point-statements . In its update to the NCP, the Company reported that in keeping with its commitment to engage with the local communities of North-West Bangladesh, it has met with approximately 2,500 people since 2012 including community and political leaders, business community members, NGOs, youth groups, farmers and members of the indigenous community. The Company also reiterated its commitment to fully update the Environmental & Social Impact Assessment, along with a Human Rights Impact Assessment prior to commencing development of GCM's Phulbari Coal Project ("Project"). In the Report, the NCP advised there was no change in its findings as stated in the Final Statement from November 2014 and there was no basis to find GCM's actions either inadequate or inappropriate to the nature and context of the Company's operations. The NCP also noted that GCM has an obligation to consider and manage the environmental and social aspects throughout the project life cycle. The Company entirely accepts this responsibility and re-confirms its commitment to developing the Project in accordance with the highest international and national social and environmental standards, including the OECD Guidelines for Multinational Enterprises. Michael Tang, Executive Chairman, commented: "We are pleased that the OECD process, which started in December 2012, has come to a close and has seen GCM exonerated. We recognise that the Phulbari Coal Project is an important asset for Bangladesh, and it is essential that its development delivers substantial social and economic benefits to all stakeholders, especially the local community where the Project is based."
Another rise...Every little helps...
Nice to see a 13% rise today... If this happens every day for a few weeks I might breakeven
Attachments by the way: one of them is just an article from liberum capital talking about commodities being in a bearish phase - its from July 10 so already 1.5 months old and nothing enlighteneing. The other is a 5 line spreadsheet showing 5 or 6 companies who's shareprices are down in the periods he mentions ranging from -44% to -73%. Similar responses to those previously outlined on this board... its an improvement in meanigful shareholder engagement that's needed now rather than words imo
Thank you very much for your email. We can understand your frustrations. As you are no doubt aware, the company is operating under very challenging circumstances with multiple factors at play, ranging from the steep decline in commodity prices, political instability and health epidemic and global currency and stock market fluctuations. Following this, the market valuations of Polo and other mining public companies have suffered significant declines. Attached is the share price performance of Polo’s peers (in % terms) from January 2013 to July 2015 for your reference. I have also attached a research note from Polo’s broker, Liberum, which explains the fundamentals behind and outlook for the decline in commodity prices and their impact on the shares of mining companies. The Financial Times just reported that the world’s big energy groups have shelved $200 billion of spending in an urgent round of cost cutting following the slump in oil prices. The sell-off in oil has been matched by a broader slump in copper, gold and other raw materials. Gold plunged to the lowest level in more than five years, whilst copper is at its lowest in six years. The Bloomberg Commodities Index is at a six-year low over concerns of weaker Chinese demands and rising supplies across the board. The Board and management of Polo share your concerns. Our Executive Chairman’s investment cost in Polo shares was at a significant premium to the highest price achieved since January 2013. He is therefore extremely exasperated. It is unfortunate that the market is in one of its bear phases, where any news is bearish news. Nevertheless, the management of Polo has been working tirelessly in the current difficult environment and is cautiously optimistic of driving higher valuations for Polo. Your suggestion will be passed on to management for consideration. Thank you again for contacting the company and for your continued support over the years. Kind regards, Kudzayi
Agreed.
I have about 7k here so I'd prob only be able to afford the fishcake without the chips! No response PuksBack -was gonna chase up today. If they don't respond again then I will give them until Monday after which I intend to chase them up every single day next week onwards until I get a reply. Even if it take weeks, months or even years. Dramatic I know, but perhaps the only way they will take note.
Just sent this to Polo.... Sort it out useless fools!!! Dear Kudzayi I am a longstanding private investor in polo resources. Understandably there has been a decline in the share price over the last year due to commodity shares being out of favour and a decline in the prices of commodities. However, the decline in Polo Resources share price is much higher than the sector average and the communication from Investor Relations is to say the least truly woeful. Speaking to other private investors recently we agreed that any form of update or even a strategic overview from the directors or management would at least give some reassurance. Many junior companies now hold webinars - is a half hour webinar held by directors every quarter as an update too much to ask? It is a platform where there is the opportunity to provide an update to faithful shareholders and answer email questions. I’m not particularly hopeful of receiving a reply to this email given what other investors have told me, but I would appreciate a response particularly as a company’s image is very important, and I believe Polo resources are selling themselves short given they have some highly promising assets when the commodity cycle turns. Your Faithfully,
I can't make up my mind with Polo. One day I wake up and think the NAV is much higher here so feel optimistic ( in a depressed period in commodities so can only see upside from here), the next day I fear something suspicious is happening and I should write this off. I wonder if its just the downturn in the price of commodities for the fall and the suspicion arises from possibly the worst Investor relations department ever. There are some interesting investments in the portfolio overall after.... Need 17p to breakeven. Feels a long way away...
Interesting thoughts - thanks both. Agree that being the newboy Loots is unlikely to completely cut the dividend -perhaps it may be cut to yield similar to previous years. Like said though, September will be interesting. Might have a punt and top up prior to them.