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Polo Resources (AIM:POL) – a bargain waiting to be snapped up?

26/08/2011 · Polo Resources (POL) 

The sale of Caledon Resources will bring in 112p per share to Polo who has a 27% interest in Caledon; Polo has already proposed to pay its shareholders a 2p per share special dividend.

Polo’s 27% interest in Caledon represents 3.93 per share of Polo’s net asset value. In addition to this there is approximately 1.00p/share of cash. Liberum Capital currently estimates that the fully diluted NAV for Polo is 6.57p/share to which the shares currently trade at a 24% discount (5p which does indeed look too wide).

Following the Caledon distribution Polo will have free cash amounting to 4.94p/share which is broadly in line with the current…

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Polo Resources (AIM:POL) – a bargain waiting to be snapped up?

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