29th May 2008 10:59
29 May 2008
Polo Resources Limited ("Polo Resources" or "the Company")
Polo strengthens its coal and uranium interests in Mongolia
Polo Resources Limited (AIM:PRL), the coal and uranium focused natural resources investment and mining company, announces that it continues to consolidate its Mongolian interests, increasing the number of exploration and mining licences it holds to 59 of which 26 are focused on coal (with another 2 in the process of being transferred to the Company) and another 33 are focused on uranium.
Neil Herbert, Deputy Chairman said "Polo is continuing to rapidly advance its Mongolian interest with the acquisition of further licence areas. These licence areas include 57,004 hectares of exploration licences in the strategically located South Gobi district close to China as well as projects in the east and west of the country. The South Gobi in particular is known for its Permian coal basins with both coking and good quality thermal coal.
Polo has an active exploration and drill programme on these coal projects and we look forward to keeping investors informed as we pursue our strategy to develop thermal and coking coal projects to serve the rapidly growing demand for coal in Asia."
Contacts:
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Polo Resources Limited Neil Herbert, Deputy Chairman
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Tel: +27 11 269 4900 |
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Canaccord Adams Ryan Gaffney
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Tel +44 (0) 207 050 6500 |
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Financial Dynamics Ben Brewerton Edward Westropp |
Tel: +44 (0) 20 7831 3113 |
About the Company
Polo is an emerging energy company focused on acquiring and developing advanced stage coal and uranium properties in Asia and Australia. 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
AIM 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 the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate. 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.
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