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Ironstone Resources - Investment Update

5 Apr 2016 10:35

RNS Number : 2049U
Polo Resources Limited
05 April 2016
 

5 April 2016

 

 

 

 

 

Polo Resources Limited

 ("Polo" or the "Company")

 

 

IRONSTONE RESOURCES - INVESTMENT UPDATE

 

Polo Resources Limited (AIM: POL), the natural resources investment company with interests in oil, gold, coal, copper, phosphate, iron and vanadium, is pleased to report that Ironstone Resources Limited ("Ironstone"), in which Polo has an 18.84 per cent equity interest, has provided an update on its activities and has advised that it has completed its Strategic Plan designed to guide the company through its Clear Hills Project commercialization phase.

The anticipated Q3 2016 western Canada Steel Market Study by the Alberta Government referred to in Polo's interims results announcement will provide important data to Ironstone to determine the type of finished steel products to produce for domestic consumption and the company will transition its image and brand from a metallics resource company to a diversified manufacturer of high strength steel, vanadium and related value-added by-products, changing its name to Prism Diversified Limited.

Ironstone's partner, North American Coal, an industry leader in cost-effective open pit mining, has completed a Conceptual Mine Plan on the Clear Hills, featuring a relatively low-cost open pit mine design and environmentally-friendly electric drag-lines for overburden removal and surface miners to strip the ore body. The plan envisages that a minimum of 5 million tonnes of ore will be mined annually to support Ironstone's mill operations. Reclamation of the pit will be undertaken as ongoing mining operations are conducted.

 

 

For further information, please contact:

Polo Resources Limited

Kudzayi Denenga, Investor Relations

+ 27 (0) 787 312 919

ZAI Corporate Finance Ltd (nominated adviser)

Ray Zimmerman, Peter Trevelyan-Clark

 

+44 (0) 20 7060 2220

Liberum Capital (broker)

Christopher Britton

+44 (0) 20 3100 2000

Blytheweigh (public relations)

Tim Blythe, Camilla Horsfall

+44 (0) 207 138 3204 

 

 

About the Company

Polo Resources Limited is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo, please refer to: www.poloresources.com 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Date   Source Headline
18th Mar 200910:10 amRNSExtension of the Option Deed
10th Mar 20097:44 amRNSUnion mine technical report completed
4th Mar 20097:00 amRNSStrategic Holding
2nd Mar 20095:12 pmRNSHolding(s) in Company
10th Feb 20098:29 amRNSHolding(s) in Company
6th Feb 200910:51 amRNSHolding(s) in Company
30th Jan 20093:33 pmRNSIssues of Equity
27th Jan 20097:48 amRNSJoint Venture With Peabody
26th Jan 20097:00 amRNSApproach Received
23rd Jan 20096:04 pmRNSResult of AGM
9th Jan 20091:06 pmRNSHolding(s) in Company
5th Jan 20098:22 amRNSNotification concerning interests in shares
24th Dec 20089:05 amRNSNotice of AGM
23rd Dec 20087:00 amRNSFinal Results
17th Dec 20084:30 pmRNSEreen Mine Update
11th Dec 20089:12 amRNSNotification concerning interests in shares
17th Nov 200810:00 amRNSHolding(s) in Company
12th Nov 200811:44 amRNSHolding(s) in Company
11th Nov 20082:27 pmRNSHolding(s) in Company
27th Oct 20087:00 amRNSOperations Update
10th Oct 200812:50 pmRNSHolding(s) in Company
10th Oct 20089:47 amRNSPurchase of Shares
6th Oct 20088:51 amRNSNotification concerning interests in shares
6th Oct 20087:00 amRNSInterest in Shares
29th Sep 20087:00 amRNSSouth Gobi drilling results
25th Sep 20084:59 pmRNSDirectorate Change
18th Sep 20083:49 pmRNSHolding(s) in Company
17th Sep 200812:40 pmRNSNotification concerning interests in shares
3rd Sep 20089:54 amRNSHolding(s) in Company
2nd Sep 20087:00 amRNSDrilling Report
19th Aug 20087:00 amRNSExploration Update
18th Aug 20087:00 amRNSExploration Update
29th Jul 200812:13 pmRNSReplacement Ereen Mine Update
29th Jul 20089:34 amRNSEreen Mine Update
9th Jul 20087:00 amRNSCoal Production to Commence
8th Jul 20087:00 amRNSDrilling Commences on Hud Coa
8th Jul 20087:00 amRNSHolding(s) in Company
7th Jul 200810:07 amRNSUnion Coal Mine Drill Results
2nd Jul 200810:39 amRNSHolding(s) in Company
2nd Jul 20087:00 amRNSCommencement of drill program
2nd Jul 20087:00 amRNSHolding(s) in Company
1st Jul 20089:00 amRNSVoting Rights and Capital
1st Jul 20087:00 amRNSCompletion of Drill Hole Prod
30th Jun 20088:00 amRNSExploration Update
26th Jun 200811:21 amRNSHolding(s) in Company
20th Jun 20085:45 pmRNSDirectors' Shareholdings
13th Jun 20086:21 pmRNSAcquisition of licenses
12th Jun 20086:05 pmRNSReplacement: Re GCM Resources
12th Jun 20085:33 pmRNSUpdate re GCM Resources Cash
12th Jun 20089:00 amRNSNew Licenses Acquired

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