# POL - Polaris Metals



## YOUNG_TRADER (23 August 2006)

Has been on my watchlist for awhile,

Specy trying to get its Iron Ore plans off the ground, 
Fortunes may have turned for it, recently ann a deal to get Heron's Iron Ore grounds + their MD,

Post Transaction POL will have a capital structure of

80m Shares + 20m 20c opies + 20m unlisted 20-30c opies

Which gives a fully dilluted mkt cap of 100m - 120m shares, at 20c = $20m 

They have 3 projects currently 
Evanston and Johnstone Range Iron Ore (Earning 70%) in the Yilgarn Iron Province,

Bullfinch Iron Ore (40% JV with Portman Mining holding the other 60% Takeover possibilities???)

New projects being acquired are all in the Pilbara Iron Ore regions,


Will also be doing a Uranium IPO wth Washington Resources, should be a good IPO



Watch this spec stock


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## Mr Right (4 September 2006)

It has been on my watch list as well.
Have you seen the mining news release today they are heading into pre - feasibility the rumor is that the DSO could be more than 5-15 mt. This is only one deposit there are 50 more to go.
I think there is a big future in this company.


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## CanOz (5 December 2006)

Somethings up...and no ann! 20%, might cop a speeding ticket. I think this would qualify as a breakout as well, anyone like to comment on this?


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## jemma (10 December 2006)

*Polaris metals*

Anyone know anything on this company. It is a spin off from Herron, looks like it has huge iron ore potential.


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## CanOz (10 December 2006)

*Re: Polaris metals*

Had a nice breakout the other day Jemma, i posted about it in the thread POL, but no one was really that interested.

Cheers,


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## jemma (10 December 2006)

*Re: Polaris metals*



			
				CanOz said:
			
		

> Had a nice breakout the other day Jemma, i posted about it in the thread POL, but no one was really that interested.
> 
> Cheers,




Cana, I got in at 24 thinking it was too late. Looks to me like it can just keep going and the fact only you and I know about it is a great sign.


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## imajica (10 December 2006)

*Re: Polaris metals*

I personally know the managing director of Polaris

will post any useful info when I can


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## nizar (10 December 2006)

*Re: Polaris metals*



			
				imajica said:
			
		

> I personally know the managing director of Polaris
> 
> will post any useful info when I can




Come on bro, i expected a higher standard of ramp from you!  
Oh let me guess, havent got a position yet?!  :


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## Sean K (10 December 2006)

*Re: Polaris metals*

Interesting. Why has it doubled in a month or so? Related to fe potential or the NTU IPO?


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## Freeballinginawetsuit (10 December 2006)

imajica said:
			
		

> its no ramp, i'm not trying to deceive anyone!
> 
> I know the guy, that is all! friend of the family
> 
> ...





Really?, well keep that info to yourself unless you want to get your family friend into trouble. He should know better, or at least enough to share such info with people that don't gasbag about it on a Public Forum


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## imajica (10 December 2006)

just kidding guys! bit of a xmas joke - you guys are really on the ball!


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## Freeballinginawetsuit (10 December 2006)

Nice recovery Imajica  .

I have a family concern in the only NATA accredited labratory in the Mid West region of West Aust (I'm sure WayneL knows the one). At times we test and also audit (in situ) tests from surrounding mines and there is lots of those up that neck of the woods.

I would never trade a Share of a Company that we were completing samples on, absolutely never!.

With that said, I am off to have some fairy bread and watch the wiggles


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## nizar (10 December 2006)

Freeballinginawetsuit said:
			
		

> I would never trade a Share of a Company that we were completing samples on, absolutely never!.




Thats decent of you.


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## Freeballinginawetsuit (10 December 2006)

I'm just a decent honest guy Nizar


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## YOUNG_TRADER (11 December 2006)

*Re: Polaris metals*



			
				kennas said:
			
		

> Interesting. Why has it doubled in a month or so? Related to fe potential or the NTU IPO?




Hartleys did a huge placement at 14c or 16c, nothing has changed since then, just the SP.

May be Hartleys 'stimulating' the SP to get some of their 7 and 8's out, but thats just me speculating


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## Mr Right (8 January 2007)

Its looking good! There is allot of rumor that that they have quite allot of hematite up there and its seems to be true as Malaysians would not invest that much at 0.40 per share (reed today’s announcement). Some people are saying that the capital cost of the project is few million.


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## j4mesa (5 February 2007)

The sp is going south.....
no ann........................
Anyone know something about why this company dropping ????


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## tech/a (14 February 2007)

On the technical radar again. Came up on a VSA search as possible reversal also at the 61.8 fib level. Could also be low of Wave (2) on a weekly chart


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## rocka1 (28 May 2007)

HI all im trying to attach a anouncement made today about iron ore discovery pol is up 40 % , i want to post so someone may be able to fill me in on the technical side, if someone has time could they post it or  tell me how to  cheers kevin


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## Sean K (28 May 2007)

rocka1 said:


> HI all im trying to attach a anouncement made today about iron ore discovery pol is up 40 % , i want to post so someone may be able to fill me in on the technical side, if someone has time could they post it or  tell me how to  cheers kevin



You need to go to Manage Attachments under the reply area. 

Then you upload from your computer or add the url for the attachment. If the files large save as a giff.


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## rocka1 (1 June 2007)

Hi members i would like to know how someone buys chares computer generated ive noticed today almost all trades in pol , the last 3 digits are the same 4474, 6474 ,96474,3526, 8526, 13526 does this mean someone is trying to buy without the market catching on , also alot of these are done off screen not affecting depth how can that be .


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## mick2006 (20 June 2007)

Hey guys I have spent the best part of the last two weeks (when I haven’t been reporting on FNT) trying to find the next big thing in the iron ore segment. And I think that POL might be the next one to take off. The criteria that I was using to test this was a simple business plan that has been executed beautifully by MMX/MIS, that is start with a smaller direct shipping ore (DSO) project to provide cash flow and earnings to help fund a major iron ore expansion project.

*With targets like the Massive Ashburton Project (1200mt of iron ore)*
Near Term Cashflow from Poondano (Late 2008)
Plenty of Drilling News Upcoming
Major Shareholder Lion Group (very deep pockets, will fund projects and sign offtake agreements)
*Royalty agreement with Portman*
*Upcoming spinoff of non iron ore assets (distribution of shares to existing holders)*


There is the potential for POL to run hard on release of news due to tight capital structure and current sentiment in the Iron Ore segment.


*First a look at the share structure*


Ordinary Shares           81,305,625
Options 20c Dec 08      20,749,977
Shares Held in escrow   29,729,730

Share Price 19/06/07 35.5c


*Top Shareholders*

Herron Resources 29,729,730
Lion Group 16,558,330



*Upcoming News*

Goldsworthy Iron Ore Drilling Results (due any day)
Pre_Feasability Study Poondano Iron Ore Project
Spinoff of non Iron Ore assets


*Reasons To Buy Into the POL Story*

- Well funded, tight stable capital structure (2 top shareholders control almost 50% of the company)
- Cash $5.5 million 
- Investments 10 million shares in NTU worth 15 million
- Upcoming drilling results from Goldsworthy iron ore prospect
- Release of Poondano Pre_Feasability Study
- Enormous Prospective landholding (near major RIO,BHP mines)
- Near term cash flow from Poondano late 2008
- Recent history of major iron ore discoveries
- Close to excellent infrastructure
- Massive Ashburton tennement (scoping study complete target 1200mt)
- Already signed royalty agreement with Portman involving tennements close  to existing Portman mines.
- Listing of non iron ore projects into new company ( creating greater shareholder wealth)


*Summary of tenements held*

As a result of the acquisition of iron ore assets from Heron Resources Ltd (ASX: HRR, “Heron”)
in 2006, and the intended acquisition of a tenement package from International Goldfields Ltd
(ASX: IGC, “IGL”) as announced by IGL on 28 February 2007, Polaris will hold or have a
beneficial interest in 104 granted tenements and 34 tenement applications covering a total area of
6,400km² within the prime Pilbara and Yilgarn iron and gold provinces of Western Australia.
The specific projects and their mineral potential are listed in the attached table and include
advanced iron ore projects with near term development potential, iron ore exploration projects,
advanced gold projects and other gold, nickel and base metals exploration projects. Some of the
IGL tenements have measured and indicated gold resources and some Polaris advanced gold
tenements have gold mineralisation ready to be drilled out to establish resources complying with
the JORC Code.



*Current focus*

*Poondano*

Undergoing pre_feasibility study for the development of a 1 million tonnes per annum DSO project (low cost high margin)

Current resource 10-15 million tonnes


*Carina and Chamaeleon Deposits*

SIGNIFICANT NEW IRON ORE DISCOVERY WITH UP TO 65.5% FE
60KM NORTH OF KOOLYANOBBING, WESTERN AUSTRALIA
POLARIS BELIEVES 50MT DSO TARGET NOW ACHIEVABLE
• Carina Deposit, 60km NNW of Koolyanobbing, 1.6km long and up to 150m wide
outcropping mineralisation, has target potential of 35-50Mt iron ore, with:
− microplaty hematite and sub-crops of specular hematite;
− average 61.6% Fe, 2.57% SiO2, 0.73% Al2O3 and 0.078% P (direct
shipping grades) in rock chip samples from northern 1.1km of the deposit;
− best grade 65.5% Fe, 1.74% SiO2, 0.67% Al2O3 and 0.04% P;
• Chamaeleon Deposit comprising goethite-hematite outcrops with microplaty
hematite, has target potential estimated from surface sampling to be 5-10Mt;
• Other targets, including extension of Portman J4 Deposit into Polaris tenements;


*Goldsworthy Deposit*

Goldsworthy Project (Polaris earning 70% Leviathan Resources Limited 30%) Target 65 MT
The Goldsworthy Iron Ore Project comprises exploration licence E45/2358 covering 120km² and contiguous with BHP Billiton’s Mt Goldsworthy mining leases. 
The area is favourably located near existing transport infrastructure. Although mining at Mt Goldsworthy ceased in 1982, the rail link to Port Hedland has been maintained, and is currently used by BHP Billiton for transporting ore from the Goldsworthy Extension Project in the Shay Gap area 50-100km further to the east. In addition the area is easily accessible from Port Hedland via the sealed Great Northern Highway. 
E45/2358 is held by Leviathan Resources Limited, a wholly owned subsidiary of Perseverance Corporation Limited. Under an agreement with Leviathan, Polaris can earn a 70% interest by funding $2.5 million in exploration activities over four years. 
The 3,000m RC drilling program is planned principally to test concealed iron ore targets identified through reconnaissance gravity surveys, geological mapping and regional structural interpretation. High priority iron ore targets have been identified where interpreted iron formations exhibit gravity highs and magnetic lows along favourable regional scale faults. 
Other drilling targets in the area are considered to have potential for nickel-copper deposits similar to the nearby Highway deposit (recorded 37Mt with 115,000t nickel, 44,000t copper). Some targets are also considered to have potential for gold and/or platinum deposits. 



*And finally the massive potential of Ashburton, potential for 1200mt*


*Ashburton Project*
The Ashburton Project consists of four granted exploration licences that cover 532km² located
between 10km and 40km directly south of the Rio Tinto Paraburdoo iron ore mine in the
southern Pilbara region of Western Australia. The area is considered prospective for transported
iron ore deposits such as buried Robe pisolitic channel iron deposits (“CID”) or surficial ironrich
gravels in palaeodrainages which extend in a southwesterly direction away from the ranges
hosting the Paraburdoo iron deposits (Figure 2).
Heron previously investigated areas of raised iron-rich palaeodrainage material and submitted
samples from five shallow pits for gravity separation test work. For the +4.075mm fraction, the
3.3SG sink product averaged 60.6% Fe, 6.3% SiO2, 2.25% Al2O3 and 0.09% P. The sink product
for the -4.075mm +1.00mm fraction had similar Fe (59.77%), lower SiO2 (4.86%); but higher
Al2O3 (4.20%). The mass recovery of +1.00mm material was in the order of 20%.
As previously reported, consulting engineers Project Development and Management Services
Pty Ltd (“Prodemas”) were engaged by Polaris in January 2007 to conduct a scoping study of the
project, based on available data, and to recommend future work programs. Prodemas has now
completed a report on the study, with favourable conclusions.
The scoping study assumption was a detrital iron target potential in the range 600Mt to 1200Mt,
based on an estimate of the area of surficial gravel beds mapped within the Company’s
exploration licences, and the reasonable expectation that the depth of the gravel beds ranges from
3m to 6m. At the 20% recovery indicated by Heron’s earlier test work, the +1.00mm iron ore
target potential could be inferred to be in the range 120Mt to 240Mt.
After incorporating likely capital and operating costs in their scoping study, Prodemas concluded
that the area has the potential to be a viable iron ore mining operation, and recommended further
geological and metallurgical investigations. Among the key strengths of the project noted by
Prodemas were its location close to existing plant and infrastructure, its large scale target
potential (potential to support 10MTPA operation over 20 years) and the low phosphorus content
of the +1.00mm beneficiated material making an attractive blending product.
The Prodemas study also identified the potential for possible hidden Robe pisolite type CIDs in
the project area.
The Ashburton Project has the potential to feature prominently in Polaris’ iron ore strategic planning.


*Bungalbin Iron Ore Project (Portman operator, Polaris 2% royalty)*

The Bungalbin Iron Ore project is situated near the Mt Jackson iron ore mining operations of Portman Limited, about 50km north of Koolyanobbing.
The project is currently being explored by Portman in accordance with an agreement wherein Portman has the right to explore for, and if and when mining leases are granted, mine iron ore.
If Portman delineates iron ore deposits and commences mining on tenements the subject of the agreement, it is required to pay a royalty to Polaris at the rate of 2% of the FOB value it receives for all iron ore transported from the tenements and sold.


Would be interested to hear peoples thoughts on POL, there is so much more news that I could of included just mentioned a couple of their 138 tenements (all in prime Iron Ore elephant country)

*POL reminds me very much of MMX/MIS about 12-18 months ago and we have all seen how they have developed.* 

POL is just at the beginning with plenty of cash and very prospective land holdings could be plenty of upside from here.

Good management including the MD Kevin Schultz who is the man responsible for the discovery of the *Carr Boyd Nickel Copper/Mine (which is well known by all YML holders).*


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## rico01 (20 June 2007)

mick2006 said:


> Hey guys I have spent the best part of the last two weeks (when I haven’t been reporting on FNT) trying to find the next big thing in the iron ore segment. And I think that POL might be the next one to take off. The criteria that I was using to test this was a simple business plan that has been executed beautifully by MMX/MIS, that is start with a smaller direct shipping ore (DSO) project to provide cash flow and earnings to help fund a major iron ore expansion project.
> 
> *With targets like the Massive Ashburton Project (1200mt of iron ore)*
> Near Term Cashflow from Poondano (Late 2008)
> ...




GReat piece of research Mick
  It,s good to find out about these things early in there struggle to get things moving.
 with drilling results due out any day and a feasability study due soon  this could be something to give it a real kick along


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## motion (20 June 2007)

rico01 said:


> GReat piece of research Mick
> It,s good to find out about these things early in there struggle to get things moving.
> with drilling results due out any day and a feasability study due soon  this could be something to give it a real kick along




Yep I second that excellent work mick....After looking at this I can see there are some great projects coming in the pipe line.... I will be looking into this alor closer after my paper today...DYOR


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## Pommiegranite (20 June 2007)

Great research Mick . Fantastic prospects. Iron Ore is hot at the moment and will be for a while yet. Polaris are excellently positioned to benefit.

As per today's Age Online:

RISING price expectations for iron ore and coal are underpinning a drive into record share price territory for BHP Billiton and Rio Tinto, enhancing their strength in the resource industry's next merger and acquisition wave.
While the battle in the North American aluminium market between Alcoa and Alcan dominates M&A expectations now, expected weakness in copper and nickel could quickly generate new opportunities for the cash-rich diversified mining groups.
BHP gained 24¢ to $34.92 and Rio rose $1.16 to $101.15 yesterday as the market backed its belief that bumper earnings from iron ore and coal will fuel above-average returns in the short term.
*Credit Suisse added to the confidence with its tip that iron-ore prices could rise 25 per cent next year while "extremely tight" coal markets could also boost earnings expectations.*
*"It is only June and the iron-ore market is already showing clear signs of tightness," Credit Suisse said.*
*It said delays or shortfalls in exports by some of the new projects would aggravate the deficit in supply. To cover it, high-cost Chinese iron-ore production might have to be increased.*
This scenario has been reflected in spot market prices showing a 63 per cent premium to current contract prices for Pilbara iron ore.
The strong short-term outlook for iron ore prompted CS to increase its "target price" for Rio to $110 a share, a 12.5 per cent increase.
Its target price for BHP has been nudged to $41 a share, a 9 per cent increase.


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## UPKA (20 June 2007)

Good find Mick. Any iron explorer/producer with projects going into production in near term will see their SP soar. there is a lot of coverage on the shortage of iron ore in news lately, definately will generate alot of interests like the Uranium miners did. Poondano is going into production soon, so it'll help to find the development of its "pet project" - Ashburton. 

btw, mick were u able to get some info on the top 20 holders? I know that the Lion Group is deepl involved. 
whats interesting to me is that Vernon Strange is one of the directors on board, he owns the southern cross drilling services, his company does all the drillings for POL, so definately the first guy to see the samples! if he started buying up big time, i'd definately follow!


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## INORE (20 June 2007)

Cheers Mick....do u know if anyone has made contact with the company re: expected announcement dates....

I did some research on the Lion group and they are the real deal as far as having their own steel mills and also developing a DRI plant..

http://www.lion.com.my/WebCorp/Homepage.nsf/SteelDiv

_The Group’s new investment in a Direct Reduced Iron (DRI) plant, with a capacity of 1.6 million tonnes per annum, is now under construction and is expected to be completed in 2007. The plant mill supply DRI which will help to reduce the dependence on scrap as raw material for steel making by our steel mills and enable them to produce better quality steel. _

It would be interesting to speak to this company to see when their first shipment of iron ore would be needed to feed this new plant.

These guys have over a 3 billion dollar turnover so it is easy to see that they could accomadate some further funding of POL to get their iron ore to malaysia.


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## mick2006 (20 June 2007)

As PG has kindly posted in the article from the age, the simple supply demand equation is well and truely in favour of suppliers and near term suppliers.  And is expected to be so until at least 2010.

It certainly looks like iron ore is the one bulk commodity that has the most pricing power at the moment.

With companies from Korea/Japan/China fighting themselves to secure supply at the moment it is good for not just POL but the entire sector.

The main reason I went for POL was I tried to find the company that was closest to what MMX/MIS were a couple of years ago.  And follow that simple business plan of a small starter DSO project followed by expansion later on.


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## Spaghetti (20 June 2007)

Mick

Well done again, bought a small parcel because what you wrote sounded brilliant. Until I could digest more and dyor BLAH BLAH put a sell order through while I was out and it sold on me. A tad annoyed with myself though wasn't quite ready to commit until I had read through more for myself.

Of course the price went zooming along without me on board.

However made a very quick tidy profit that would never had happened if not for your great work.

Now to sit down and decide if I should buy back in. 

Cheers, you really do sell a stock with great facts and research. Really, really appreciate it.


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## UPKA (20 June 2007)

one thing i noted abt POL today is that alot of day traders jumped on, price fluctuated exactly as the market did, so if the US market keeps in green overnite, we might see another rise in POL tomorrow, vise versa.


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## mick2006 (20 June 2007)

well I have just made first contact with POL and have fired a probing list of question off to the company secretary Trevor Verran.

Interesting to note that ANZ nominees have been the ones actively buying up stock for the Lion Group.

The lion group now holds 15% company, and with an Aussie broker now buying up the stock could we be seeing the first signs of a possible take over or joint venture?


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## INORE (20 June 2007)

mick2006 said:


> well I have just made first contact with POL and have fired a probing list of question off to the company secretary Trevor Verran.
> 
> Interesting to note that ANZ nominees have been the ones actively buying up stock for the Lion Group.
> 
> The lion group now holds 15% company, and with an Aussie broker now buying up the stock could we be seeing the first signs of a possible take over or joint venture?




How does that work Mick?  Are ANZ buying on behalf of lyons to avoid Lyons breaching some sought of foreign ownership policy???


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## greggy (20 June 2007)

mick2006 said:


> Hey guys I have spent the best part of the last two weeks (when I haven’t been reporting on FNT) trying to find the next big thing in the iron ore segment. And I think that POL might be the next one to take off. The criteria that I was using to test this was a simple business plan that has been executed beautifully by MMX/MIS, that is start with a smaller direct shipping ore (DSO) project to provide cash flow and earnings to help fund a major iron ore expansion project.
> 
> *With targets like the Massive Ashburton Project (1200mt of iron ore)*
> Near Term Cashflow from Poondano (Late 2008)
> ...




Thanks for the great research Mick. This is the type of iron ore stock that is running pretty hot at present in this sector. Today was another strong day.  Its iron ore interests look very interesting. I also like the fact that POL has 10 million shares in NTU worth around $15 million and plenty of cash to boot.
DYOR


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## mick2006 (20 June 2007)

INORE said:


> How does that work Mick?  Are ANZ buying on behalf of lyons to avoid Lyons breaching some sought of foreign ownership policy???




my guess would be is that they have a stated amount of shares they want to get hold of and ANZ have been employed to oversee the accumulation of that set amount.

If you go back over the past six months they have topped up significantly their holdings on top of the original placement they took at 40c.

My bet is they are trying to make sure of their future iron ore requirements and that POL are a major part of that strategy, they want to make sure they are in pole position for the offtake of any future production.  Basically instead of signing a MOU or offtake agreement they continue to hold a large stake in the company to ensure management gives them first right to any iron ore produced.


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## mick2006 (20 June 2007)

the company has just issued a response to the asx price query and it shows why the shares are going up, positive sentiment to the iron ore sector, and secondly the large lion group of malaysia heavily buying in POL could we be headed for another undervalued australian resource company ending up in foreign hands?

Below is the companies response

Our advice from corporate advisers and stockbrokers is that the iron ore sector is currently being viewed very favourably by the market. Additionally there has been extensive media reporting this week regarding an iron ore project in the Murchison Region to the west of Central Yilgarn, the region where Polaris is currently exploring for Iron Ore. On May 28 2007 the company announced significant new discoveries of iron ore mineralisation with up to 65.5% Fe in its exploration project areas 60km north of Koolyanobbing. On 8 June 2007 the company gave notice of change of interest of substantial holders showing that persons and companies associated with Malaysian group The Lion Group had been active with open market acquisitions.


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## UPKA (20 June 2007)

mick2006 said:


> the company has just issued a response to the asx price query and it shows why the shares are going up, positive sentiment to the iron ore sector, and secondly the large lion group of malaysia heavily buying in POL could we be headed for another undervalued australian resource company ending up in foreign hands?
> 
> Below is the companies response
> 
> Our advice from corporate advisers and stockbrokers is that the iron ore sector is currently being viewed very favourably by the market. Additionally there has been extensive media reporting this week regarding an iron ore project in the Murchison Region to the west of Central Yilgarn, the region where Polaris is currently exploring for Iron Ore. On May 28 2007 the company announced significant new discoveries of iron ore mineralisation with up to 65.5% Fe in its exploration project areas 60km north of Koolyanobbing. On 8 June 2007 the company gave notice of change of interest of substantial holders showing that persons and companies associated with Malaysian group The Lion Group had been active with open market acquisitions.




Just a quick question, is it legal to make a takeover thru open market acquisitions? i doubt the Lion group would make such a move, there are probably isnt enuf share available for them to do so, unless they push up the SP real up.


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## Spaghetti (20 June 2007)

UPKA said:


> one thing i noted abt POL today is that alot of day traders jumped on, price fluctuated exactly as the market did, so if the US market keeps in green overnite, we might see another rise in POL tomorrow, vise versa.





I technically did a day trade without intent to do so. Took me by surprise, just a sell order gave me some insurance while I went out. I could not see any reason for a delibrate day trade today so perhaps just some early profit takers. Like moi


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## alankew (20 June 2007)

Does anyone know how much is held by the top 20 and also substantial holders,cant find it on the company website or asx


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## mick2006 (20 June 2007)

the top 20 currently hold around 60% of the shares, but by going on previous volume it seems alot of the other outstanding shares are held by longer term investors.  

Very interesting that they made note in the asx query about the Lion Group buying up, maybe they have increased their stake even more since the last notice of substantial holders.


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## BIG BWACULL (20 June 2007)

alankew said:


> Does anyone know how much is held by the top 20 and also substantial holders,cant find it on the company website or asx




This is Etrade stuff
least its sumthin

holders buying
06-06-07  	Cheng Heng Jem  	 13.6% to14.90 % 	1,500,000
10-01-07 	Cheng Heng Jem 	         8.70% to13.60% 	5,385,874
24-10-06 	Heron Resources Limited 	-- 	29.45% 	--

substantial holders
24/08/2006  	Goldmark Investments Pty Ltd  	3,527,745  	6.45
06/06/2007 	Cheng Heng Jem 	                   16,558,330 	   14.90
08/01/2007 	Heron Resources Limited 	   29,729,730 	  26.88


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## alankew (20 June 2007)

Big Bwacull thanks for the reply-just wondering if it could do a FWL if there isnt much left to chase


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## motion (20 June 2007)

BIG BWACULL said:


> This is Etrade stuff
> least its sumthin
> 
> holders buying
> ...




Hey BIG BWACULL... 

This is great info thanks.... is this something etrade gives you with there standard tools? ...

This company lets more secrets out every time you review it....

thanks


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## INORE (20 June 2007)

well Mick...for what it's worth...POL is being talked about(aka ramped) a fair bit on HC...someone is saying that the jorc is going to be out very very soon....any news back from POL on your queries yet?


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## Spaghetti (20 June 2007)

INORE said:


> well Mick...for what it's worth...POL is being talked about(aka ramped) a fair bit on HC...someone is saying that the jorc is going to be out very very soon....any news back from POL on your queries yet?




I am not too familiar with HC but have seen this same type of comment aimed at FNT. Mick seems to post at both forums. He backs up all his work better than I ever could do. I cannot call this ramping. Are you suggesting that if anyone talks about a stock at HC it is automatically ramping?


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## INORE (20 June 2007)

Spaghetti said:


> I am not too familiar with HC but have seen this same type of comment aimed at FNT. Mick seems to post at both forums. He backs up all his work better than I ever could do. I cannot call this ramping. Are you suggesting that if anyone talks about a stock at HC it is automatically ramping?





Well from the specky stocks i follow, what i've seen on HC...it's usually pretty blatant...

I havent seen micks posts at HC so wasnt referring to his comments as ramping...in fact i like his style in getting people genuinly interested in  stock.......lets hope we have another good day tomorrow with all the iron-ore juniors that are coming into play on this forum.  I'm still trying to decide whether to get more of this gear or get some YML while its down....


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## UPKA (20 June 2007)

INORE said:


> I'm still trying to decide whether to get more of this gear or get some YML while its down....




I'm in the same scenario, bt YML is still abit far from production, with nickel price falling, CB project could be in doubt. BUT its a bargain at the current price level! decisions decisions...


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## mick2006 (21 June 2007)

the following article is taken from bloomberg overnight and shows why iron ore is hot at the moment, now the steelmakers want to control their own supplies, making every junior iron ore company a target!!

Mittal to Control 80% of its Iron Ore to Counter Rio (Update1) 

By Dale Crofts

June 20 (Bloomberg) -- Arcelor Mittal, the world's biggest steelmaker, plans to produce about 80 percent of the iron ore it uses within the next decade to protect itself against price increases from the three companies that dominate the market. 

Mittal wants to boost supplies from the current 45 percent of the ore it uses by buying mines near its manufacturing facilities across the world, Chief Executive Officer Lakshmi Mittal said today at a steel conference in New York. 

Mittal is buying iron-ore facilities in Senegal and Liberia to counter the market power of BHP Billiton Ltd., Rio Tinto Plc and Brazil's Cia. Vale do Rio Doce, which together control about 80 percent of the world's iron ore and are boosting prices for the raw material used to make steel. 

``We want to have a completely integrated business model,'' Mittal said at the conference. High-cost new projects the iron- ore companies are developing will make it ``difficult'' for prices to decline substantially, he said. 

Steelmakers worldwide are seeking to secure their own supplies of iron ore after benchmark annual prices rose for a fifth consecutive year, reaching a record. Iron ore accounts for almost a quarter of the cost of making hot-rolled coil steel, the biggest single cost, according to Credit Suisse. 

Mittal agreed in February with Senegal's government to invest $2.2 billion in a project that will produce as much as 25 million metric tons of ore a year. The company's $1 billion project in Liberia will add 15.5 million tons. 

Record New Projects 

BHP and rival mining and energy companies are planning a record A$43.4 billion ($36.2 billion) of new projects in Australia, including iron-ore mines, the government's commodity forecaster said May 16. Rio Tinto, the world's second-largest supplier, plans to raise annual output to 300 million tons. 

China's economy, the world's fourth-largest, grew at an annual rate of 11.1 percent in the first quarter, accelerating from 10.4 percent in the previous three months. The growth has spurred demand for materials to build skyscrapers, bridges, roads and cars. Steel-product output in China, supplier of one-third of global steel, rose 21 percent in April, the National Bureau of Statistics said today. Industrial output rose 17.4 percent, the agency said.


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## mick2006 (21 June 2007)

Hey guys just received a response from the MD of POL, looks like he is keeping things close to his chest.

Points of note they have received the results from Goldsworthy now compiling the results, so results should be out soon. 

Have had joint venture discussions but nothing concrete.

Drilling restarting in August, and non iron ore assets will be spun off before years end.

I will have to try and sweet talk him a bit more in the future to see if I can get any more info from him, remember it takes a while to develop trust. 



Hello Kevin,

Thank you for the top 20 shareholder list, very much appreciated.


I am currently a member of a couple of share forums in which quite a few members are holders of Polaris shares and I was wondering if I posed a list of questions from the members if you would be able to answer the questions where available, instead of fielding numerous phone calls.


Anyway here goes.


1. How is the company going in regards the recent drilling at the Goldsworthy Project, have the samples been sent to the lab with the results still awaited?


Drilling completed, most assays in and being assessed as to significance, will announce as soon we have information that should be disclosed otherwise in the quarterly activities report.


2. When does the company anticipate being in a position to release the results of the recent drilling at Goldsworthy, days/weeks/months?

See above


3. The Lion Group has recently been aquiring a larger stake in the company, have there been any discussions in regards possible takeover of Polaris?


No


4. Has the Lion Group discussed the options of signing an offtake agreement in regards first ore shipped from Poondano?


Not specifically


5. Have the company been approached or seeking Joint Ventures to speed up the exploration of some of the more significant tennements?


Yes but no decision on any agreements


6. What is the timeframe involved regarding the spin off of the non iron ore assets?


Expecting SXG IPO completion before the end of 2007


7. Now that the company has secured funding for exploration, what is the likely order (which projects) of exploration drilling?


Poondano, Bungalbin Aurora, Johnston Range, Ashburton


8. When is the company likely to commence the next round of exploration drilling?


August 2007


9. In the companies opinion what is the likelyhood of Portman mining on Polaris tennement thus activating the 2% royalty?


Portman can answer


10. In the current environment of hightened focus on the Iron Ore sector, is the company planning any roadshows/presentations/broker reports to spread the word of Polaris's potential?

Yes when time permits


It is always good to know that a company is willing to communicate with its shareholders.


Regards

And thanks again

Michael


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## camaybay (21 June 2007)

Yeh Mick, pretty tight Q/A response. Certinly progressive coy. Fe shipments at hoped at end of year. Is the top 20 postable? Thankx
Cheers
DYOR


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## mick2006 (21 June 2007)

Hey guys here is a copy of the top 20, remember the ANZ nominees holdings are actually shares held for the Lion Group of Malaysia as they are using ANZ to increase their holdings.

Current top 20 shareholders list:

HERON RESOURCES LIMITED 
 29,729,730 
 26.78%

LION DIVERSIFIED HOLDINGS 
 10,094,123 
 9.09%

ANZ NOMINEES LIMITED 
 6,600,207 
 5.94%

BELL POTTER NOMINEES LTD 
 3,343,381 
 3.01%

BELL BAY INVESTMENTS PTY LTD 
 2,480,533 
 2.23%

NEFCO NOMINEES PTY LTD 
 1,600,000 
 1.44%

RED PUMA PTY LTD 
 1,270,000 
 1.14%

MASEN PROPERTIES PTY LTD 
 1,220,000 
 1.10%

GOLDMARK INVESTMENTS PTY LTD 
 1,058,873 
 0.95%

MRS JENNY MERYN MILLS 
 1,000,300 
 0.90%

PETERBOROUGH NOMINEES PTY LTD 
 1,000,001 
 0.90%

MRS BRUNA TONSIC 
 1,000,000 
 0.90%

MRS DOROTHY MARGARET SCHULTZ 
 911,268 
 0.82%

RAVINA LTD 
 900,000 
 0.81%

DBS VICKERS SECURITIES 
 790,000 
 0.71%

MS JULIAN FENG 
 768,296 
 0.69%

CITICORP NOMINEES PTY LIMITED 
 735,500 
 0.66%

MASEN PROPERTIES PTY LTD 
 718,644 
 0.65%

MR ROBERT JAMES GRUNDY 
 615,724 
 0.55%

PERTH SELECT SEAFOODS PTY LTD 
 600,000 
 0.54%


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## UPKA (21 June 2007)

is it me or there r many female investors?! could they be directors wives? bt then i guess it doesnt take much to be in top20.


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## spottygoose (21 June 2007)

UPKA said:


> is it me or there r many female investors?! could they be directors wives? bt then i guess it doesnt take much to be in top20.




Well Kevin Schultz is the MD so that explains one of them. As for the others, I have no idea. Traditionally, they would be just holding on behalf of their husbands for tax purposes but I would like (as one of their own) to think the times they are a changin' - perhaps they are members of Dorothy's Book Club? lol.


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## Love Zn (21 June 2007)

Also think HIH, very hard to obtain the assets from the director when he doesn't have any.  Although I think I heard something about the law being changed, about change of ownership and still being able to get the assets after 5 years.


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## INORE (21 June 2007)

mick2006 said:


> Hey guys just received a response from the MD of POL, looks like he is keeping things close to his chest.
> 
> Points of note they have received the results from Goldsworthy now compiling the results, so results should be out soon.
> 
> ...




Thanks for that Mick....the MD doesnt sound like a very excitable character...doesnt seem to want to market his company much given that these posts can potentially be read by thousands across different forums. He has everyones attention when he replies to these enquiries and probably should extrapulate what the company is doing in earnest to increase shareholder SP value....


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## kransky (22 June 2007)

He cant say too much because if he says more than what has been announced on the ASX he will in be deep **** with ASIC. I think he's just being careful (and responsible). How would you feel if he gave some other forum extra info and you missed out?


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## mick2006 (22 June 2007)

POL reminds me very much of the early trading days of UMC after it acquired the iron ore tennements, very quiet just going about the business of uncovering large amounts of Iron Ore.  As the results from Goldsworthy come out and any results from recent sampling campaigns the market will start to realise they are starting to shore up some nice resources, and that is when the brokers will start becoming interested and the profile of the company will be lifted.

Remember they are now very well funded $5.5 million in cash and $15 millionn in NTU shares, so the serious exploration will kick off very shortly.

It was their Uranium tennements they spun off into NTU look at the amount of money it has made not just POL but all the initial holders in the IPO of NTU.  Management know what they are doing, by spinning off the non iron ore assets they can set up another company to search their extensive base metals assets, while freeing up time and capital to get their hands dirty in the search for iron ore.

With the shareprice going from 32.5-46c in a couple of days it will be interesting where it will find support for the next news related upswing, with the Lion Group in the background seeming to snap up plenty of shares around 40c their initial entry price, this level may become the new floor going forward.


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## UPKA (22 June 2007)

there r still plenty of sellers at the moment, probably a bit of profit taking. what we are looking for now is an annoucement before the quaterly report, otherwise there will be a bit of decline in SP. bt if it does fall below 40c, i'm gonna top up a lil, its still too early to determine the support as investors are still trying to jump on the iron ore wagon.


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## mick2006 (22 June 2007)

some very interesting buying going on leading into, and continuing into the after 4 pm auction, very slow most of the day and then really started to heat up in the last hour or so.

Very strange heading into a weekend

Anyone care to guess why the sudden interest in the last hour of the trading week?


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## motion (22 June 2007)

mick2006 said:


> some very interesting buying going on leading into, and continuing into the after 4 pm auction, very slow most of the day and then really started to heat up in the last hour or so.
> 
> Very strange heading into a weekend
> 
> Anyone care to guess whey the sudden interest in the last hour of the trading week?




Yey Mic I noticed the same and just waiting to see if all the bid's go through as they seem to be growing ... will be very interesting if they do...

No guess here just yet but doing my home work... =


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## UPKA (22 June 2007)

mick2006 said:


> some very interesting buying going on leading into, and continuing into the after 4 pm auction, very slow most of the day and then really started to heat up in the last hour or so.
> 
> Very strange heading into a weekend
> 
> Anyone care to guess why the sudden interest in the last hour of the trading week?




could be renewed interests in Iron Ore stocks, FWL YML and POL all went up sharply today. can someone find a figure on the Iron ore price?


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## Pommiegranite (22 June 2007)

UPKA said:


> could be renewed interests in Iron Ore stocks, FWL YML and POL all went up sharply today. can someone find a figure on the Iron ore price?





I think you hit the nail on the head there. It was definitly a major factor.

So did CFE and MMX (as usual)


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## greggy (22 June 2007)

mick2006 said:


> some very interesting buying going on leading into, and continuing into the after 4 pm auction, very slow most of the day and then really started to heat up in the last hour or so.
> 
> Very strange heading into a weekend
> 
> Anyone care to guess why the sudden interest in the last hour of the trading week?




I often take this as being a very bullish sign heading into the weekend.  Solid buying together with a higher share price, looks very positive. Mick, you certainly have the magic touch at present. Thanks very much for your research.
DYOR


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## UPKA (22 June 2007)

here's an interest article i found on google:
http://www.busrep.co.za/index.php?fSectionId=566&fArticleId=3892288

if wat they said is gonna happen, we will see a restricted supply of Iron around the world, pushing the price even further. Especially with Japan picking itself up after the big fall. Iron is definately the next U3O8


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## UPKA (25 June 2007)

I've spoken to someone who knows a bit about the Lion Group. Apparently they are heavily invested in China. the current Chairman William Cheng is Chinese, also has close links with companies in China. looks like its investment on resources are mainly targetted at China, Iron Ore mined here might be shipped straight to China for processing, so we'll see more investment by the group in Aust in near future.


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## mick2006 (25 June 2007)

judging by the volume already going through today looks like the market is finally waking up to POL, very strong considering the largely down day for the rest of the market.

Now all that is needed is the drill results from Goldsworthy iron ore project and we may smash the resistance left at 52c.


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## chicken8 (27 June 2007)

announcement came out this morning reporting on their results on Poondano

anyone here worked out a price for the sp based on this announcement?


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## juw177 (29 June 2007)

By the chart, it looks like the uptrend may continue today after a few bearish days. I admit I was a bit concerned but yesterday's smaller candle closed higher than the day before which should be a good sign.


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## fishomc (1 July 2007)

I'm quite bullish on this stock.

Provided we dont see too much profit taking this week being the new fin. year, I suspect POL will move back in the 50's quickly and then creep up into the 60's prior to the quarterly report at the end of the month.

cheers.


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## juw177 (2 July 2007)

fishomc said:


> I'm quite bullish on this stock.
> 
> Provided we dont see too much profit taking this week being the new fin. year, I suspect POL will move back in the 50's quickly and then creep up into the 60's prior to the quarterly report at the end of the month.
> 
> cheers.




Dont post these things without back up please.

I hold this stock and am very happy with it because the uptrend is looking quite strong on the technicals.


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## gfresh (9 July 2007)

Large buy in, almost dot on 2pm today..after sitting at the usual level before that. No announcement however as of yet. Something is afoot?


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## fishomc (9 July 2007)

fishomc said:


> I'm quite bullish on this stock.
> 
> Provided we dont see too much profit taking this week being the new fin. year, I suspect POL will move back in the 50's quickly and then creep up into the 60's prior to the quarterly report at the end of the month.
> 
> cheers.




On track.

POLO the way to go if you can gets some, tightly held thin market depth.

Ian Buchhorn pegged out Polaris's iron ore tenements way back before the rush, this was when they were included with Herron resources tenements. Polaris took these tenements over and Ian Buchhorn joined Polaris as a director. 

cheers.


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## fishomc (9 July 2007)

I have pinched this from the other site as a i feel it is a good summary of Polaris and points out the great potential, especially with favourable views on iron ore in coming years. 

"Hey guys I have spent the best part of the last two weeks (when I haven’t been reporting on FNT) trying to find the next big thing in the iron ore segment. And I think that POL might be the next one to take off. The criteria that I was using to test this was a *simple business plan that has been executed beautifully by MMX/MIS, that is start with a smaller direct shipping ore (DSO) project to provide cash flow and earnings to help fund a major iron ore expansion project.*

With targets like the *Massive Ashburton Project (1200mt of iron ore)*
*Near Term Cashflow from Poondano (Late 2008)*
Plenty of Drilling News Upcoming
*Major Shareholder Lion Group *(very deep pockets, will fund projects and sign offtake agreements)
*Royalty agreement with Portman*
*Upcoming spinoff of non iron ore assets (in-specie distribution of shares to existing holders, rumoured to 1 for 5)*


There is the potential for POL to run hard on release of news due to tight capital structure and current sentiment in the Iron Ore segment.


First a look at the share structure


Ordinary Shares 81,305,625
Options 20c Dec 08 20,749,977
Shares Held in escrow 29,729,730

Fully dilluted market cap approx $52mill.

Share Price 09/07/07 52.0cents


Top Shareholders

*Herron Resources 29,729,730
Lion Group 16,558,330*



Reasons To Buy Into the POL Story

- Well funded, tight stable capital structure (*2 top shareholders control almost 50% of the company*)
- *Cash $5.5 million *
- *Investments 10 million shares in NTU worth 15 million*
- Upcoming drilling results from Goldsworthy iron ore prospect
- Release of Poondano Pre_Feasability Study
- *Enormous Prospective landholding (near major RIO,BHP mines)*- Near term cash flow from Poondano late 2008
- *Recent history of major iron ore discoveries*
- *Close to excellent infrastructure*
- *Massive Ashburton tennement (scoping study complete target 1200mt)*
- *Already signed royalty agreement with Portman involving tennements close to existing Portman mines.*
- *Listing of non iron ore projects into new company ( creating greater shareholder wealth)*

Summary of tenements held

As a result of the acquisition of iron ore assets from Heron Resources Ltd (ASX: HRR, “Heron”)
in 2006, and the intended acquisition of a tenement package from International Goldfields Ltd
(ASX: IGC, “IGL”) as announced by IGL on 28 February 2007, Polaris will hold or have a
beneficial interest in 104 granted tenements and 34 tenement applications covering a total area of
6,400km² within the prime Pilbara and Yilgarn iron and gold provinces of Western Australia.
The specific projects and their mineral potential are listed in the attached table and include
advanced iron ore projects with near term development potential, iron ore exploration projects,
advanced gold projects and other gold, nickel and base metals exploration projects. Some of the
IGL tenements have measured and indicated gold resources and some Polaris advanced gold
tenements have gold mineralisation ready to be drilled out to establish resources complying with
the JORC Code.



Current focus

Poondano

Undergoing pre_feasibility study for the development of a 1 million tonnes per annum DSO project (low cost high margin)

Current resource 10-15 million tonnes


Carina and Chamaeleon Deposits

SIGNIFICANT NEW IRON ORE DISCOVERY WITH UP TO 65.5% FE
60KM NORTH OF KOOLYANOBBING, WESTERN AUSTRALIA
POLARIS BELIEVES 50MT DSO TARGET NOW ACHIEVABLE
• Carina Deposit, 60km NNW of Koolyanobbing, 1.6km long and up to 150m wide
outcropping mineralisation, has target potential of 35-50Mt iron ore, with:
− microplaty hematite and sub-crops of specular hematite;
− average 61.6% Fe, 2.57% SiO2, 0.73% Al2O3 and 0.078% P (direct
shipping grades) in rock chip samples from northern 1.1km of the deposit;
− best grade 65.5% Fe, 1.74% SiO2, 0.67% Al2O3 and 0.04% P;
• Chamaeleon Deposit comprising goethite-hematite outcrops with microplaty
hematite, has target potential estimated from surface sampling to be 5-10Mt;
• Other targets, including extension of Portman J4 Deposit into Polaris tenements;


Goldsworthy Deposit

Goldsworthy Project (Polaris earning 70% Leviathan Resources Limited 30%) Target 65 MT
The Goldsworthy Iron Ore Project comprises exploration licence E45/2358 covering 120km² and contiguous with BHP Billiton’s Mt Goldsworthy mining leases. 
The area is favourably located near existing transport infrastructure. Although mining at Mt Goldsworthy ceased in 1982, the rail link to Port Hedland has been maintained, and is currently used by BHP Billiton for transporting ore from the Goldsworthy Extension Project in the Shay Gap area 50-100km further to the east. In addition the area is easily accessible from Port Hedland via the sealed Great Northern Highway. 
E45/2358 is held by Leviathan Resources Limited, a wholly owned subsidiary of Perseverance Corporation Limited. Under an agreement with Leviathan, Polaris can earn a 70% interest by funding $2.5 million in exploration activities over four years. 
The 3,000m RC drilling program is planned principally to test concealed iron ore targets identified through reconnaissance gravity surveys, geological mapping and regional structural interpretation. High priority iron ore targets have been identified where interpreted iron formations exhibit gravity highs and magnetic lows along favourable regional scale faults. 
Other drilling targets in the area are considered to have potential for nickel-copper deposits similar to the nearby Highway deposit (recorded 37Mt with 115,000t nickel, 44,000t copper). Some targets are also considered to have potential for gold and/or platinum deposits. 



And finally the massive potential of Ashburton, potential for 1200mt


Ashburton Project
The Ashburton Project consists of four granted exploration licences that cover 532km² located
between 10km and 40km directly south of the Rio Tinto Paraburdoo iron ore mine in the
southern Pilbara region of Western Australia. The area is considered prospective for transported
iron ore deposits such as buried Robe pisolitic channel iron deposits (“CID”) or surficial ironrich
gravels in palaeodrainages which extend in a southwesterly direction away from the ranges
hosting the Paraburdoo iron deposits (Figure 2).
Heron previously investigated areas of raised iron-rich palaeodrainage material and submitted
samples from five shallow pits for gravity separation test work. For the +4.075mm fraction, the
3.3SG sink product averaged 60.6% Fe, 6.3% SiO2, 2.25% Al2O3 and 0.09% P. The sink product
for the -4.075mm +1.00mm fraction had similar Fe (59.77%), lower SiO2 (4.86%); but higher
Al2O3 (4.20%). The mass recovery of +1.00mm material was in the order of 20%.
As previously reported, consulting engineers Project Development and Management Services
Pty Ltd (“Prodemas”) were engaged by Polaris in January 2007 to conduct a scoping study of the
project, based on available data, and to recommend future work programs. Prodemas has now
completed a report on the study, with favourable conclusions.
The scoping study assumption was a detrital iron target potential in the range 600Mt to 1200Mt,
based on an estimate of the area of surficial gravel beds mapped within the Company’s
exploration licences, and the reasonable expectation that the depth of the gravel beds ranges from
3m to 6m. At the 20% recovery indicated by Heron’s earlier test work, the +1.00mm iron ore
target potential could be inferred to be in the range 120Mt to 240Mt.
After incorporating likely capital and operating costs in their scoping study, Prodemas concluded
that the area has the potential to be a viable iron ore mining operation, and recommended further
geological and metallurgical investigations. Among the key strengths of the project noted by
Prodemas were its location close to existing plant and infrastructure, its large scale target
potential (potential to support 10MTPA operation over 20 years) and the low phosphorus content
of the +1.00mm beneficiated material making an attractive blending product.
The Prodemas study also identified the potential for possible hidden Robe pisolite type CIDs in
the project area.
The Ashburton Project has the potential to feature prominently in Polaris’ iron ore strategic planning.


Bungalbin Iron Ore Project (Portman operator, Polaris 2% royalty)

The Bungalbin Iron Ore project is situated near the Mt Jackson iron ore mining operations of Portman Limited, about 50km north of Koolyanobbing.
The project is currently being explored by Portman in accordance with an agreement wherein Portman has the right to explore for, and if and when mining leases are granted, mine iron ore.
If Portman delineates iron ore deposits and commences mining on tenements the subject of the agreement, it is required to pay a royalty to Polaris at the rate of 2% of the FOB value it receives for all iron ore transported from the tenements and sold.


Would be interested to hear peoples thoughts on POL, there is so much more news that I could of included just mentioned a couple of their 138 tenements (all in prime Iron Ore elephant country)

*POL reminds me very much of MMX/MIS about 12-18 months ago and we have all seen how they have developed. *

POL is just at the beginning with plenty of cash and very prospective land holdings could be plenty of upside from here.

Good management including the MD Kevin Schultz who is the man responsible for the discovery of the Carr Boyd Nickel Copper/Mine (which is well known by all YML holders)."

well worth a look at ;-)


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## mick2006 (9 July 2007)

geez thats a bit rough having my research pinched and re-posted exactly where I posted it in the first place


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## Pommiegranite (9 July 2007)

mick2006 said:


> geez thats a bit rough having my research pinched and re-posted exactly where I posted it in the first place




That's hilarious Mick. Well at least Fisho hasn't claimed it as his own research. Got to give him/her some credit for that!


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## fishomc (9 July 2007)

well its good research 



deserves to "do the rounds"

I've been in polaris from late last year, its now beginning to be recognised.

You still bullish on it Mick?  i see it being a steady performer as resources are proved up, feasibilty studies completed, contracts signed, etc.

cheers


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## mick2006 (9 July 2007)

yeah still bullish, took a few profits when it hit 55c last time, but still holding a nice little stash.

What usually happens when a sector starts to heat up is that the big boys surge first and then people explore a little deeper to find the hidden gems, companies like YML,POL,CUL,IRM will continue to do well as long as the iron ore sector remains in play and the supply/demand factor remains heavily in favour of the suppliers.


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## mick2006 (10 July 2007)

Interesting legal battle going on between POL and PMM over some iron ore tennements, goes to show what POL is sitting on is considered very valuable by one of the bigger iron ore plays in Australia.


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## gfresh (10 July 2007)

Yep. Looks like some fun and games. After a pullback, looks like it's holding part of the gain from yesterday. 

If anything I see this as a positive move with Polaris protecting it's interests, after Portman hasn't undertaken mining by agreed date. This allows Polaris (if successful) to either mine the area themselves, or to sell rights for a greater price given current environment. 

Hopefully the legal process doesn't drag out too long.. would not be good there.


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## mick2006 (10 July 2007)

the following article is taken from miningnews.com



Legal spat brewing between Portman, Polaris 

Kate Haycock
Tuesday, 10 July 2007

IRON ore junior Polaris Metals has threatened joint venture partner Portman with legal action if it refuses to hand over the transfer rights to two mining leases covering the Bungalbin tenements in the Pilbara. 

Polaris said today that it had received legal advice stating that Portman no longer had the right to access the Bungalbin tenements for either exploration or mining.

According to Polaris, Portman has rejected the claims.

In its announcement, Polaris said that Portman had failed to meet the original terms of the heads of agreement over the Bungalbin project, which was originally made between Portman and Heron Resources in 1999. 

Polaris said Portman was required to begin mining operations at the tenements before July 2005, an arrangement that was extended for another two years to July 3, 2007. 

Polaris said this arrangement could be extended for a further two years, however, it had advised Portman there would be no further extension. 

Advice from Polaris' lawyers Hunt & Humphrey was that Portman failed to meet the mining requirement and subsequently had no right to the tenements. 

Additionally, Polaris said Portman held registrable transfers to two mining leases over the tenements, which it has demanded Portman return.

"Polaris' lawyers have formally requested Portman's undertaking not to lodge those transfers or to withdraw them from lodgement (as the case requires). If Portman does not give that undertaking, it is Polaris' intention to commence legal proceedings immediately," the company said. 

Portman's chief executive officer has advised Polaris that the company does not agree its rights have ceased or that Polaris had ownership of the granted mining leases.

MiningNews.net was unable to contact representatives of either Polaris or Portman for comment this afternoon.

Shares in Polaris closed down 2.5c to 49.5c, while shares in Portman took a 93c hit to close at $11, a fall of almost 8%.


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## fishomc (11 July 2007)

Yeah this is all quite interesting isn't it. 

Based on the drilling results by Portman to date on the tenements in question J4,J5. we are looking at a substantial DSO resource.

POL may have been quitely aware of the expiry of the agreement and have "bounced" now to claim it back.  Considering the new Iron ore discovery (estimated up to 50mt at 60%+fe) announced by Polaris recently is right next door to these tennements, infact the J4 prospect extends into this new area. Additionally, POL mentioned more targets in this area with grades averaging over 60% fe (the details of these other targets are not know yet, to the public anyway, perhaps management do?) so they may be keen to secure the J4 and J5 tenements back, and in doing so create a very large DSO resource within a small area.  They may have plans to develop it themselves, or perhaps re-negotiate a deal with Portman that includes these new discoveries.

any thoughts?

cheers.


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## fishomc (11 July 2007)

and now this:

"Let slip the dogs of law
Kevin Andrusiak 
July 11, 2007 

SOMETIMES, even though commodity prices are through the roof, the only winners are the paid-up members of the legal fraternity.
It's sad, but equally just as true. 

But, as they say, that's business. 

And the business going down at the moment is a growing public fight between Perth miners Polaris Metals ($52.75 million market cap) and Portman Mining ($1.9 billion market cap). 

The stoush emanates over a couple of iron ore-prospective tenements in the Yilgarn Craton in the West Australian goldfields which Portman has controlled since 1999, way back before iron ore prices starting moving skywards. 

What Daily Assay understands is that Portman signed a Heads of Agreement with Heron Resources over two Bungalbin tenements in 1999 which was then assigned to Polaris in September 29 last year after Polaris inked a Heads of Agreement with Heron in August to acquire its substantial Pilbara and Yilgarn iron ore tenements. 

Polaris now argues that, based on its own legal advice, that the original 1999 Heads of Agreement is null and void because Portman has not started mining the Bungalbin tenements. 

In fact, the 1999 Heads of Agreement had already been extended once from its original five year period and was due to expire July 3, 2008. 

Daily Assay also understands that Portman had floated the idea with Polaris of extending the Heads of Agreement further, but that appears to have fallen on deaf ears. 

Crucial to the ownership rights of the tenements is that Portman controls registration transfer papers for the ground. Polaris wants Portman to give it the transfer papers and, if they have been lodged with the authorities, Portman to withdraw them before registration. 

Bungalbin's Banded Iron Formations have been intact for some 2.5 billion years and is the bread and butter for mid-tier miner Portman. 

What makes things even more interesting for both Portman and Polaris is that the WA Environmental Protection Authority has raised some serious issues in its May bulletin about Aboriginal heritage and the unique flora and fauna found at Bungalbin. 

“The Helena and Aurora Range, including Bungalbin Hill, represents the highest and largest example of hill (BIF) in the eastern Goldfields,” the EPA wrote in May, citing previous research by authors Newbey and Hnatiuk done in 1985. 

“Of key significance is the potential economic value of the area for tourism due to its relative close proximity to Perth, visually impressive BIF ranges and the presence of extensive intact woodland vistas that have been lost in most of the WA wheatbelt. The area also has high spiritual, cultural, scientific and geological significance.” 

It looks like there is a mountain of approvals that need to be considered before anyone can mine at Bungalbin. 

But be assured that Portman don't want to give up the ground without a fight and will be doing everything in its power to keep it, or get some compensation if the legal chips fall its way. That's despite it not having progressed the tenements much since the original Heads of Agreement was signed in 1999. 

In fact, nobody really knows if the disputed ground is a winner or a bitter disappointment in terms of mining viability. 

But getting the rights to prospective iron ore tenements is never easy and Portman are probably in the box seat to play some sort of role in any development at Bungalbin given its road and rail access. 

For the time being the disturbance is merely a blip on the Portman radar, but it retains significant importance for Polaris. 

But don't expect Portman to throw it away without a fight. 

Let the legal letters flow freely."

http://www.theaustralian.news.com.au/story/0,20876,22056161-15023,00.html


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## Bushman (18 July 2007)

Well the legal issue does not seem to be impacting the share price too much. Up another 5% today to .545. Touching on the 52 week high of 55c. 

Is this the big push through 55c? From what I gathered it tanked last time it hit these lofty highs. Be interested in longer term holders trading plans. Read elsewhere in the thread that some ASF holders took profits at 55c last time around. 

Also any ideas when the Goldsworthy announcement is due out or what the story is with Ashburton? Recent spike (up 20% since I bought in 2 weeks ago) seem to be driven by accumulation despite the lack of news from the company. Had a sell order in last week at .545 but it is showing the goods at the moment so re-rating this one to a medium to long term hold. Nice stable capital structure and we all have seen what this can to an iron ore share by having a read of the FWL thread.


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## rico01 (19 July 2007)

Well POL is having a bit of a run today! May be cos of the dispute with the iron ore tenements, anyway 59c aint bad


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## Bushman (19 July 2007)

Yep not complaining. 52 week high posted on high volumes this morning (i.e. high volumes for this stock).  

Be interested to see where it ends up today. 

Would like to know why though? Is it just accumulators or is something afoot?  Oh well time will reveal all.


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## Bushman (20 July 2007)

Ah ha - ann out. Accumulation was being done by Lion Group. They have increased their holding to 16.1% by buying a million odd shares on the market over the last week or so. Explains the steady increase in the SP over the last week. 

Nice to see them increase their holding too.


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## Bushman (3 August 2007)

15% increase today on minimal news. Wonder if Lion have started accumulating again? This share is a ripper.


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## aaronphetamine (7 August 2007)

Polaris Metals have been going swimmingly even through all this turmoil on the markets, up 4.5c today to close at 69.5c and reached a peak of 74c during the day, definitly seems like a strong stock! If the market stays good this week it will be interesting to see where Polaris ends up by the weeks end.

I wish i still held on to my Polaris metals. Its been a shining light through all this.


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## Bushman (7 August 2007)

aaronphetamine said:


> Polaris Metals have been going swimmingly even through all this turmoil on the markets, up 4.5c today to close at 69.5c and reached a peak of 74c during the day, definitly seems like a strong stock! If the market stays good this week it will be interesting to see where Polaris ends up by the weeks end.
> 
> I wish i still held on to my Polaris metals. Its been a shining light through all this.




Yes it is holding my portfolio together at the moment. I am wondering if it is still the Lion Group who is buying it up? They were at 16% last time I checked. I think FIRB will cap their potential holding at 19%?


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## oldog (8 August 2007)

Yes...i am a big fan of Polaris also. Jumped on board at 16c and in no rush to sell. I see it as a long term investment.

Despite its strength and prospects...it doesn't seem to get much love on this forum. 

Any thoughts on this stock from more experienced traders/investors than myself?


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## Da Cat (14 August 2007)

This stock is holding together pretty well given the previous week's turmoil.  Largish buy went through in last 10 min of trade today (70000 order, 25474 still outstanding) @61c. Cheng Hen Jem has been increasing holdings over last three months.  maybe more?
Any thoughts, charts or speculation about where this is headed? cheers


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## fishomc (15 October 2007)

Have a look at the POL chart as of today. Looking very bullish. With drilling efforts stepping up begginning this month and spin-off company due to go ahead next month (with in specie distribution to POL holders), this are set to fire with POL.  Upward trend began again. after testing support at around 50cents twice. I expect a good uptrend now for the folllowing few months as the drilling is underway and further support arrives for iron ore juniors.

cheers.


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## evwatkins (16 October 2007)

If i buy POL now am I eligeble for the spin off? Or is it to late. Just wondering as im interested in purchasing some.

Anyone help?


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## fishomc (16 October 2007)

Record date for the spin-off has not been announced. However i did contact the company and was told that options holders would be given ample time to convert, and would then be eligible for the in-specie distribution. If you have any doubts, contact the company.

cheers.


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## evwatkins (16 October 2007)

Whats behind todays movements?


Anyone know anything? Is there an ann due soon, perhaps some drill results?


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## Caliente (16 October 2007)

Thinking the same thing. 

Got my Annual Report today, but don't have the time to read it!!!

whatevers going on atm, I've always thought POL was a good iron ore player, before the recent Fe mania set in! 

Keep an eye on it - looks like a potential breakout.


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## evwatkins (17 October 2007)

So has anyone beenwatching this stock? 

More movent today, was only 50c a few days ago. 

I think there must be an ann out soon or maybe just ppl getting excited


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## evwatkins (18 October 2007)

well I got some pol today, i thought id have a go.

Anyone else got some pol? or any news about them? would like some other to talk about them see what they think.


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## yuyry002 (18 October 2007)

evwatkins said:


> well I got some pol today, i thought id have a go.
> 
> Anyone else got some pol? or any news about them? would like some other to talk about them see what they think.




i sold half of my holding today because i thought market has been running so hard lately.
but i still holding heaps, pol is still looking good.


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## YELNATS (18 October 2007)

yuyry002 said:


> i sold half of my holding today because i thought market has been running so hard lately.
> but i still holding heaps, pol is still looking good.




Am holding POLO. Tried to sell part of my holding today, but price just fell short. Maybe tomorrow. Still holding some for the future as well.


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## evwatkins (24 October 2007)

POL put on trading halt, I wonder what it is? glad i brought in the other day.

looking forwad to ann


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## surfingman (24 October 2007)

evwatkins said:


> POL put on trading halt, I wonder what it is? glad i brought in the other day.
> 
> looking forwad to ann




Page 2 of the announcement states its capital raising, and will be in trading halt to Friday 26th.....


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## countryboy (24 October 2007)

the norm(but not always eg ARE) is this too retrace towards what they set the price for the new shares...Im going to take a punt that the shares will go at around 55c to 60c for the capital raising. As i dont own any POL may give the countryboy a chance to aquire before she pushes on


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## dj_420 (11 December 2007)

Is anyone on these guys?

I thought that since they have a 150-200 million tonne target with 60 million tonnes already delineated, MOU with Toll Holdings for shipment and very close proximity to Kwinana port they would be valued more than the current market cap of $75 million odd.

POL have a large variety of projects at the moment and two key ones undergoing PFS to identify potential for production.

There had been historically issues surrounding one deposit but it was recently excluded from a State nature reserve which has cleared up issues regarding exploration and production.


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## dj_420 (14 December 2007)

Is anyone else on these guys???

They seema bit unloved when you consider they have 60 million tonnes of fe already identified.

Next to Portman we could see a significant rise when next round of drill results come in.


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## evwatkins (14 December 2007)

yeh im on them, only got 5000 of these babies and got them at a higher price also  but ill hold for a little while


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## fishomc (31 January 2008)

have a read of the qrtley guys.  This company is undervalued and will take  steep re-rating in coming 6months.  They are undertaking campaign style drilling, with 2 feasibilty studies underway.  With so much going on, IHMO, it is great time to be holding or buying this stock.

Highlights below:

Polaris Metals NL (ASX: POL) has continued to make significant progress on the development of its assets and is on track for production during 2009.

* Appointment of new production-oriented management team to oversee transition to iron ore producer;

* Continued development of a pipeline of iron ore projects in Western Australia�s Yilgarn and Pilbara iron ore provinces with collective target potential of 400-550Mt;

* 10,640m of RC drilling completed in the Yilgarn and Pilbara;

* Yilgarn Iron Ore Project pre-feasibility study progressed, based on 150-200Mt DSO target potential, including on-going drilling program, lodgement of an application to drill 60Mt Bungalbin East deposit and appointment of expert contractors;

* 8,000m RC drilling program commenced as part of Poondano Project pre-feasibility study. The PFS is assessing 1.25-2.50Mtpa operation from 10-15Mt CID target potential, with commercial iron grades validated by mesa sampling;

* 250Mt-310Mt Weelumurra and Caliwinga Creek CID and Canga target potential indicated by specialist interpretation of Landsat imagery � drill testing being planned to follow finalisation of statutory approvals and the grant of the tenements;

* Spin-out of gold and nickel assets to Southern Cross Goldfields Limited to allow dedicated focus on development of iron ore projects;

* Completion of a renounceable rights issue raising $6.7M, fully supported by the two major shareholders. 

Polaris is now poised to make the transition from strategic explorer to significant iron ore producer in 2009.

Capital Structure:
Share Price (POL): $ 0.59
Issued Shares: 128.0m
Market Cap: $75.5m


cheers.


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## fishomc (6 February 2008)

No one interested in todays monster assays/intercepts? 

Significant Assay Results From Carina Drilling
Yilgarn Iron Ore Project

* Highly encouraging results from first assays at the Carina prospect within key Yilgarn Iron Ore Project – 106m at 58.7% Fe with 0.05% P and low silica and alumina

* Confirmation of the exploration potential of the region for further discovery of Direct Shipping Ores outside the proposed Mt Manning A-Class Nature Reserve extension.

The Directors of Polaris Metals NL (ASX: POL) are pleased to announce the receipt of the first drill hole assays from the Carina prospect, part of the Yilgarn Iron Ore Project (YIOP), 60km north of Koolyanobbing in Western Australia.

Hole      Interval    Length   Fe %   SiO2 %  Al2O3 %   P %    LOI %
CA0011  0-112m    112m    58.13   3.71      1.63         0.07    10.2
including 2-108m   106m    58.71    3.33     1.36         0.05    10.2
and       14-102m   88m     59.73   2.57      0.98        0.05    10.1
and       36-72      36m     60.40    2.35      0.71        0.05    10.1


The significance of the Carina intercept can be summarised as follows:

* The intercept confirms the potential of the YIOP region for new and significant DSO discoveries;

* The indicated grade and extent of the mineralisation are sufficiently large to potentially support a standalone DSO mining operation;

* The low contaminant levels (0.05% P) suggest Carina can be blended with other ores such as those at J4, J5 and Bungalbin East to achieve shipping-grade specifications for a higher proportion of the YIOP resource base; and

* Carina lies outside the proposed Mt Manning A-Class Nature Reserve extension and hence mining approvals should not be subject to excessive environmental delay.

cheers


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## fishomc (26 February 2008)

Surprised at the lack of discussion regarding this stock?

On Carina target, the company has reported that drilling intersected 100m of hemetite-geothite material across 1.5km strike and width of 90metres, from surface.  First assays released was 102m at 58.7%fe and low p, amazing intercept.  The ore body is open at strike and depth.

Assays on the following 11holes are expected by the company in late feb, ie now.

lets run some basic tonnage calcs on this:

1500 x 90 x 100 x(sg of 4) = 54million tonnes and this is open.

The yilgarn project has total target of 150-200mt, 69mt of this has already be proven by drilling by bhp in the 1960's.

Feasibilty studies on a 5-10mtpa mining operation for up to 20years is due for completion mid 2008.

These yilgarn depsits are just 50km from rail, where the comapny plans to rail its ore to Kiwana bulk jetty.

Poondano project in the Pilbara, just 30km from porthedland, is due for initial JORC resource calc at end of march, a feasibility study on this project is due around may, looking at 2.5mpta.

A malyasian steel maker owns 19.9% of POL, and is interested in off-take.  An MOU with singapore toll transport has been signed for shipping and ore handling.

Director recently bought over $300K of stock at 60cents, through a combination of rights issue take up and on market purchases.

So we have a company that that is well set to be shipping 2.5mpta mid 2009, and an additional 10mpta in 2010.

A new "procuduction" based mangement team has been brought in recently, the MD being a former Principle Rio Tinto mining adviser.

POL has a market cap of $80, undervalued?

Based on the above reason, i believe POL is set for a significant re-rating through positive drilling results and feasibilty study results in coming months.

And to add, the SP has climbed from day low of 57cents on friday to close at 64cents today.  

cheers.


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## Tiberium (27 February 2008)

Can someone please kindly explain what is going on with the volume of both buyers and sellers which have been dried up since the announcement of spin-off of Polaris’ non-iron ore assets? Isn’t it good news when POL holders from now would be receiving 1 SXG share for every 5.77 POL shares they hold and POL could now focusing their mind to their iron-ore projects in full potential?


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## fishomc (6 March 2008)

*The path to significant rerating*

This is how I see it playing out in coming weeks/months.

*March*

YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)

- Carina Results and initial Jorc resource statement (first hole of 12 gave 106m @ 58.7%fe, hemetite-geothite intesected at similar widths over 1.5km strike, open at depth and along strike)

- update on drilling at Chameleon, Vela, J4 extension and Musca that has now been completed, possible initial assays for chameleon.

- update on further drilling program set to start up again in april, possibly including Bungalbin drill program (mineral deposit drilled by BHP in 1960's with 69mt@59%fe)

-details of Portman agreement regarding tenements containing Bungalbin east and J4. (commercial agreement agreed in principle, details pending)


POONDANO PROJECT (target 10-15mt CID DSO)

-drill results from extensive in-fill program at west and east CID. Initial JORC resource statement.

-update on drill program set to test central mesas and on bulk metallurgical sampling program.


*April*

YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)

-drill results for Chameleon, Vela, J4 extension and Musca (or at least for several of these targets)

-initial JORC resource statements for Vela and J4 extension

-New drill program underway testing additional discrete targets and extension of Carina strike, possibly Bungalbin also.


POONDANO PROJECT (target 10-15mt CID DSO)

-New drill program underway testing central messas and infill of east CID.

-update metallurgical testing program 


*May-July*

YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)

-further drill results from initial drill program and april program (Carina extension, Bungalbin, discrete targets)

-*Pre-feasibility study completion on 10mtpa DSO operation over 10-20years (2010 mine commencement), shipping DSO through new Kiwana Port via established rail link.*

-likely Off-take agreement to Polaris strategic partner (19.6% stakeholder) "Lion group malaysia-steel division".

-formal agreement of current MOU with Toll malaysia for shipping and handling of ore.

POONDANO PROJECT (target 10-15mt CID DSO)

-further drill results from april drilling program, and metallurgical testing program.

- *Pre-feasibility study completion on 2.5mtpa DSO operation over 5years+ (mid 2009 mine commencement), shipping through new berth at Port Hedland, close proximity with only 30km of ore trucking required.*


WEELUMURRA AND CALINWINGA PROJECT(target 210-310mt CID DSO)

-new drill program testing the 250mt-310mt CID targets (with average grades of approx 58-60%fe), next door to FDL/FMG tergets/resources.



Market cap at this stage?....wont be the current $70mill that's for sure.

Polaris represents incredible value at present price IMO.

cheers.


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## stix1771 (12 March 2008)

The reamining 11 of the 12 drill holes from Carina (a very exciting prospect - as evidenced by the inital results of the first drill hole released) *** I have to put that in here other wise I will be moderated from ramping ***

They should of been out at the end of Feb we were told in the announcement, so surely should not be too far away.

Doing all the right thing, has Ian Buchhorn involved and following him around is not a silly thing to do.

All the best to Holders


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## fishomc (12 March 2008)

hi Stix.

Your right, Ian Buchorn is no mug, very successful in the mining/resources industry.  As a director of POL, he has bought some 800K shares at average mid 50cents- around current price.

I've made my thoughts quite clear on where i see POL going, see my above last 2 posts.

Final Carina results were delayed due to Lab issues i believe, however we must be getting close now.


Based on the first 100m hit from surace of DSO grade (low impurity) ironore, we could be in for something speciel 

cheers.


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## stix1771 (13 March 2008)

Yes I do believe we are Fisho..... I know you and Sally_will are big fans of this stock and I too have been turned ot to this stock by Rockford.  And of course these two are very much into HRR (good move today - so far!) as well.

Do you hold HRR?  Don't forget we have got our SXG as well from POL :-D

We sit and wait, but not for too long we hope.


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## fishomc (13 March 2008)

Stix. 

I dont hold HRR but i do follow loosely.

I might look to take a position shortly, as it is looking cheap and getting close to support levels.  Could be takeover target.

Hang on to ya POL, its a quality company with high class management and assets.  My pick of all the all IO juniors, hence I have bought many from a first purchase at 17cents.

Up at the present too in tough market.  Carina results will be excellent IMHO based on first assays and type/extent of minerilisation hit in the other 11 holes.

cheers


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## jinx888 (5 May 2008)

I was just wondering does anyone know when POL shareholders get their SXG shares. I assume it was on the basis of 1:5.77

Im also a large holder of POL and am very positive about their outlook.


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## pattyp (7 May 2008)

Hi fishomc,

U have been providing a fairly comprehensive commentary of this IO baby...

Can you tell me a little about the cost per ton to dig, clean and ship etc... 

Yilgarn IO Project looks to be 500K from Perth, train line there...

Poondano 30K to Port Headland... Trucks?

Would say that its reasonable shipping costs...?

Also open pit at 150m depths...? Is that about right...?

Only just tapping into this co. and want to get some estimates to model from...

Help and opinions from anyone here would be great.... Ta 

Oh, and your ideas on CAPEX...?

Cheers,

Pat


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## pattyp (8 May 2008)

Found some cost estimates

http://www.polarismetals.com.au/upload/documents/investor/asx/220807YilgarnIronOreProject.pdf


I did a really rough, and conservative valuation...
--------------------------------------
Over 8yr period...

Start up at 2.5mt/pa Scale to 5mt/pa by 5th yr

Avg Spot price of $90 p/ton

Avg Cost $45 p/ton

CAPEX 300m (Eq. 40% / Deb. 60%)

Debt Paid off in 8yrs

I get Fair Value around *$287,800,000 MCap*

Somewhere around *130c-150c* Per Share with future dilution.

With say a 22c per yr EPS

Loads of upside in value if they ramp to 10mt/pa.
--------------------------------------

Anyone care to compare notes...? Whats your evaluations...?

I'm thinking about buying!

Pat


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