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 .
POL - Polaris Metals
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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).
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).
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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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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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.
. 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.
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!
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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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.
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.
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.
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.
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.
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.
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?
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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How does that work Mick? Are ANZ buying on behalf of lyons to avoid Lyons breaching some sought of foreign ownership policy???
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
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.
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.
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.
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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Does anyone know how much is held by the top 20 and also substantial holders,cant find it on the company website or asx
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.
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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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