Polo Resources Limited WEATHERLY INTERNATIONAL PLC - INVESTMENT UPDATE (3054R)
June 13 2018 - 9:39AM
UK Regulatory
TIDMPOL
RNS Number : 3054R
Polo Resources Limited
13 June 2018
13(th) June 2018
Polo Resources Limited
("Polo" or the "Company")
WEATHERLY INTERNATIONAL PLC - INVESTMENT UPDATE
BERG AUKAS UPDATE
Polo Resources Limited (AIM: POL), the multi-sector investment
company with interests in oil, gold, coal, copper, phosphate,
lithium, iron and vanadium, notes that its investee company,
Weatherly International Plc ("Weatherly") (AIM: WTI) has provided
an update on the Berg Aukas acquisition.
Further to the announcements of 5 February 2018 and 26 April
2018, Weatherly has announced that it has received regulatory
approval, from the Namibian Competition Commission, in relation to
its acquisition of a further 65% interest in China Africa Resources
Namibia Limited ("CARN") (the "Acquisition").
All conditions precedent to the Acquisition have therefore now
been satisfied and the Acquisition has therefore completed in
accordance with the terms of the binding agreement between
Weatherly and Hong Kong East China Non-Ferrous Mineral Resources Co
Ltd.
Accordingly, Weatherly now has a 90% interest in CARN, which
owns 100% of the high-grade Berg Aukas underground
zinc-lead-vanadium project near Grootfontein.
Weatherly remains in administration and its ordinary shares
remain suspended from trading on AIM.
Details of the updated Berg Aukas Pre-Feasibility Study are
available in Weatherly's 26 April 2018 announcement and further
details of the announcements mentioned above can be found at
http://weatherlyplc.com/.
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation.
For further information, please contact:
Polo Resources Limited
- Kudzayi Denenga, Investor Relations +27 (0) 787 312 919
Allenby Capital Limited (Nominated
adviser & joint broker)
- John Depasquale +44 (0)20 3328 5657
Liberum Capital (Broker)
- Henry Freeman +44 (0) 20 3100 2000
Blytheweigh (Public relations)
- Tim Blythe, , Camilla Horsfall,
Simon Woods +44 (0) 207 138 3204
About the Company
Polo Resources Limited is a multi-sector investment company
focused on investing in undervalued companies and projects with
strong fundamentals and attractive growth prospects. For complete
details on Polo, please refer to: www.poloresources.com.
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END
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