1st Dec 2015 10:00
LONDON (Alliance News) - Polo Resources Ltd said Tuesday that following a rights issue by its investee company Ironstone Resources, it has increased its interest in Ironstone to 18.8%.
The natural resources investment company said it had made an additional investment of CAD101,000 in Ironstone Resources.
Polo Resources noted that, "given the material fall in iron ore prices", it expects a write down of its investment in Ironstone of USD6.6 million.
Shares in Polo Resources were down 13% at 2.52 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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