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With Tang being chairman of GCM he knows, or should know, the GCM tactics regarding a new nomad and they were very quick acting. So why is he totally silent on the matter for Polo? Either deliberately silent for unknown reasons, or they simply cannot find any who wants be their nomad. I do think AIM has a responsibility here. Giving one week's notice before trading halt and one month before being struck off is draconian. And the only nomad willing so far to act conditionally has now been given until December to do the due dilligence so the deadline for the remaining companies are now inconsistent with this and seriously wrong. Polo and the others are innocent casualties of london Stock exchange's unilateral action taken behind closed doors where even ZAI's permitted request to hold the hearing in public (for transparency reasons) was flatly refused by them.

For Libertum to be Polo's broker is one thing. The trouble is, would Libertum Capital easily accept Polo as a new nomad client? Judging by Libertum's client list they can clearly afford to pick and choose clients, and one coming from ZAI will not be on top of their list, probably not even ON their list. And with Polo's "relaxed" corporate governance "policy" Libertum would think twice before even temporarily acting as nomad subject to satisfactory due dilligence. Of course I hope I am wrong here.

Not odd at all I don�t think, Jonah. Complete slackness in their asset description is one thing. If Polo was never aware of ZAI Corporate�s reputation they have not done their job on the corporate governance side of things either. The problem (ZAI Corporate) has been flagged up from time to time in the press and internet for several years. To make matters worse, I have read that AIM a FEW WEEKS AGO instructed ZAI to write to their clients telling them they were in financial trouble (but instructed not to give the real reason). That should have given Polo plenty of opportunity to find a new nomad - they should at least have been in final negotiations with a new nomad by now. But no. They hadn't even started looking when the bomb went off. What signal does that send to the market? It sends a big fat SELL SIGNAL I'm afraid. And that is why the share price is crashing in spite of their purported share holdings are rising.

My sipp-provider has told me: Dear ��� This is to let you know you have a Corporate Action on one of your holdings. � Security: POLO RESOURCES LIMITED ORD NPV (DI) � Description: Mandatory Event Polo Resources Ltd ISIN: VGG6844A1158 Actions required by you As this is a mandatory event, no action is required by you. My sipp-provider has told me: Dear ��� This is to let you know you have a Corporate Action on one of your holdings. � Security: POLO RESOURCES LIMITED ORD NPV (DI) � Description: Mandatory Event Polo Resources Ltd ISIN: VGG6844A1158 Actions required by you As this is a mandatory event, no action is required by you. POSSIBLE DELISTING Polo Resources Ltd has announced that it has been informed that the London Stock Exchange has determined to remove ZAI Corporate Finance's Nominated Advisor status. As a result shares in Polo Resources Ltd will be suspended from trading on AIM at 7am on 19th October 2017 if a replacement Nominated Advisor has not been appointed by that date. If the company has not appointed a new Nominated Advisor by 20th November its shares will be cancelled from trading on AIM. Best regards, Polo Resources Ltd has announced that it has been informed that the London Stock Exchange has determined to remove ZAI Corporate Finance's Nominated Advisor status. As a result shares in Polo Resources Ltd will be suspended from trading on AIM at 7am on 19th October 2017 if a replacement Nominated Advisor has not been appointed by that date. If the company has not appointed a new Nominated Advisor by 20th November its shares will be cancelled from trading on AIM. Best regards, ~~~~~~ A blunt and sobering message.... I think i need another drink...

Since Tang also is the chaiman of GCM I wouldn't be surprised if Polo and GCM get the same new nomad.

The press has for many years been full of references to ZAI s problems with their many dodgy and financially weak clients plus even some fraudulent companies. Therefore having been such daredevils and used ZAI as a nomad all these years, Polo will naturally have a strict plan in place for getting a replacement nomad signed up on 1 week's notice.

https://www.investegate.co.uk/polo-resources-ltd--pol-/rns/status-of-nominated-adviser/201710110822082912T/ There it came!

RNS from GCM: https://www.investegate.co.uk/gcm-resources-plc--gcm-/rns/status-of-nominated-adviser/201710110806112904T/ where it says: "�It is the Company's duty to inform that in the event that a nominated adviser is not found by 20 November 2017 admission of the Company's shares to trading on AIM would be cancelled." Doesn't Polo have the same duty?

Is there any connection with this I wonder? http://www.bailii.org/ew/cases/EWCA/Civ/2017/1294.html

I agree with your views on WTI and GCM but I have included them for no other reason than that they are UK-quoted companies and that it therefore is possible to calculate a theoretic value. GCM will never be involved in building any power station in my opinion so Polo should sell their shares to those hungry people in Malta.

Jonah, the total liabilities come from Polo's unaudited balance sheet 31 Dec 2016. I have just used the same figure.

To get an understanding of Polo�s ACTUAL value I entered all Polo�s main assets and debt in a spreadsheet. Many of the holdings are already written down by Polo due to lack of prospects. They say they also have various other assets for sale which I haven�t found so these are not included. I�m so sick of Polo writing off their assets one by one so to stop that I have �written off� loads of their other assets myself, and having read pp 4 � 5 of Pan Asia Corporation Ltd�s latest annual report, I also needed to write off their loan to Universal Coal resources, I think it will take a very long time before they recover anything under that loan agreement. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01902565 After cutting Polo�s assets to the bone the situation actually still looks very interesting. My conservative estimate of Polo�s Net Asset Value yesterday 9 Oct. was 8.86 pence per share against current share price of 4.13p yesterday giving a discount of 53% to NAV. And, as we know, just the stockmarket value of their Hibiscus shares alone exceeds Polo�s market value by 33%!! https://prnt.sc/gvkez0 or https://image.prntscr.com/image/FxU0Mrs-SCeup7T714PGLQ.png I have probably made lots of errors and omissions so please shout when you find them. Today HighBiscuit went even higher, up 4.4%! Time to top up (even more)?

You are quite right! Researchers could compare the average size largecap with the average size small or microcap company and draw some conclusions about average figures. In real life we don�t select an average company; we look for individual companies with particular attributes; the statistical average company is of course of no interest.

Razor, Please don't COMPLETELY agree with my point. There is lots of research concluding that low market cap companies don't statistically grow faster than high market cap companies. But I prefer smaller (under-researched) companies anyway whatever research says! Good luck with your banking and other shares!

I'm pleased. Finally they have seen sense. New technology always takes years to perfect if it works and no positive cashflow for years if ever at all, and this technology hasn't even meed developed it seems. Lithium extraction happens everywhere and more projects are queueing up to join the bubble. Yes, lots of batteries will be needed and lots of resourse companies will keep the lithium price down. This is not for Polo. Shareprise should rise.

RazorShultz, Yes a very good day today! As forother thoughts, here are some of mine: PCF Group plc mkt cap �58m Aldermore Group PLC mkt cap �766m Paragon Banking Group PLC mkt cap �1136m I would only stick with one of these banks or possibly two. I like PCF because it is much smaller than the others and I prefer the small companies with great growth potential, reverse takovers, etc. And when will Bank of Berbuda start offloading some of their shares (if ever)? If you like buy to let mortgages perhaps add ALD. I have not compared any financials so don�t base any decisions on what I write. As a diversification, still within banking, I also own shares in Arbuthnot Banking Group Plc mkt cap �188m, and they are totally different to PCF and the other two. Operates Retail Banking, Private Banking, discretionary investment , tailored investments.

No, what you are describing seems to be a tiny England & Wales registered company in Huddersfield involved with property rental. The Polo investor is, according to the TR-1, an IoM registered company, likely to be this one: Name Armstrong Investments Limited Number 070873C Registry Type 1931 Act Company Company Type Private Ltd by Shares Registered Office Address FIRST NAMES HOUSE, VICTORIA ROAD, DOUGLAS, IM2 4DF, Isle of Man Date of Incorporation 15 Nov 1994 Presence of Charges Yes Is in Liquidation? No Receiver(s) Appointed? No Status Live If you pay the IoM registrar you can get more information.

Armstrong Investments Limited was already onboard but have bought another ~3.5m shares as far as I can see, so this is a top-5 investor who already knows Polo topping up at rock bottom price to become No.4 according to Polo's major shareholder list.

Thanks for the link jupitermars. In that interview: 3:40 Don't be surprised if another transformational deal will double production again. 4:24: I know it is mentioned in the headline but I think it is worth repeating: If today's production was reflected in the first half year's figures the bottom line numbers would have been 1000% (!!!) higher. Very little of this is reflected in today's shareprice....

Not so mad I hope, Master, because I'm relying on the same good fortune with my final top-up at 09:44:44 today...