Strategic Investment Update


 

TIDMPRL 
 
RNS Number : 6374G 
Polo Resources Limited 
03 February 2010 
 

Wednesday 3 February 2010 
 
 
 
               Polo Resources Limited 
("Polo" or the "Company") 
 
 
BMO appointed to advise Polo on strategic options with respect to its investment 
                              in Extract Resources 
 
 
Polo Resources (PRL), the AIM listed mining company with uranium and coal 
interests in Africa, Australia and Asia, announced today that it has appointed 
BMO Capital Markets ("BMO") to evaluate and advise on a range of strategic 
options to enhance shareholder value with respect to its shareholding in Extract 
Resources Limited ("Extract") following a review by its Independent Investment 
Committee. 
 
As at today's date, Polo holds 22,550,849 ordinary shares in Extract, 
representing approximately 9.29% of the issued ordinary share capital of 
Extract. 
 
Neil Herbert, Managing Director of Polo, said: 
 
"Extract recently delivered further exceptional exploration results and 
identified additional regional potential confirming Rossing South as the leading 
development uranium project in the world today.  Polo is a major investor in, 
and supporter of, Extract and we make no secret of our confidence in the future 
of the company and its Rossing South project.  With the growth in market 
valuation of Polo's strategic interest, we are pleased to announce the timely 
appointment of BMO to advise on strategic options." 
 
 
                                    - Ends - 
 
 
Contacts: 
 
+-------------------------------------------+--------------------+ 
| Polo Resources Limited                    | + 27 82 404 36 37  | 
| Neil Herbert, Managing Director           |                    | 
|                                           |                    | 
+-------------------------------------------+--------------------+ 
| Canaccord Adams Limited                   | + 44 (0) 20 7050   | 
| Mike Jones/Ryan Gaffney                   | 6500               | 
|                                           |                    | 
+-------------------------------------------+--------------------+ 
| Financial Dynamics                        | + 44 (0) 20 7831   | 
| Ben Brewerton / Ed Westropp               | 3113               | 
|                                           |                    | 
+-------------------------------------------+--------------------+ 
 
 
About the Company 
Polo is an emerging energy company currently focused on acquiring and developing 
advanced stage uranium and coal projects. For complete details on Polo Resources 
Limited, management encourages investors and interested parties to view its 
public documents filed on AIM Exchange at www.poloresources.com. 
 
 
 
CAUTIONARY STATEMENT 
The AIM Market of London Stock Exchange plc does not accept responsibility for 
the adequacy or accuracy of this release.  No stock exchange, securities 
commission or other regulatory authority has approved or disapproved the 
information contained herein.  All statements, other than statements of 
historical fact, in this news release are forward-looking statements that 
involve various risks and uncertainties, including, without limitation, 
statements regarding potential values, the future plans and objectives of Polo 
Resources Limited.  There can be no assurance that such statements will prove to 
be accurate, achievable or recognizable in the near term.  Actual results and 
future events could differ materially from those anticipated in such statements. 
 These and all subsequent written and oral forward-looking statements are based 
on the estimates and opinions of management on the dates they are made and are 
expressly qualified in their entirety by this notice.  Polo Resources Limited 
assumes no obligation to update forward-looking statements should circumstances 
or management's estimates or opinions change. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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