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Polo Resources receives offer from Denham Commodity Partners Fund PDF Print E-mail
Wednesday, 28 January 2009
ImagePolo Resources has been approached about being purchased by Denham Commodity Partners Fund. 

Polo operates coal and uranium mines throughout Mongolia including at Ereen, Chuluut, as well as sites in the South Gobi. 

“We are pleased with the interest shown in Polo’s assets and believe it illustrates the potential resource and significant value available to the company, as well as the strategic importance of our Mongolian licences,” deputy chairperson Neil Herbert told miningweekly.com 

“However, this approach does not appropriately reflect the value of our assets, particularly considering our strong working capital position of approximately $78-million and equity stakes in Caledon Resources and GCM Resources.” 

Officials said Polo is evaluating potential strategic partners and is also reviewing its options to ensure that shareholders' rights would be protected if an offer was accepted. 
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