Polo Resources Limited announced an update on its investments and Net Asset Value per share as at December 31st 2010.

NAV per ordinary share: 7.06 pence

The Company's issued share capital consists of 2,364,678,955 ordinary shares of no par value each. None of these ordinary shares are held in Treasury. The fully diluted share capital of the Company consists of 2,380,678,955 ordinary shares.

As at 31 December 2010, Polo's investment portfolio as a percentage of NAV comprises the following:

Listed Investments
Caledon Resources plc Ordinary Shares 37%
GCM Resources plc Ordinary Shares 24%

Debt Investments
Caledon Resources plc 8.5% Convertible Loan Notes @ 47.5p3 3%
Caledon Resources plc Loan Advance 4 9%
Caledon Resources plc Loan Advance 4 2%

Non Listed Investments
Ironstone Resources Limited 3%

Other Investments 5%

Net cash and other receivables 17%

Note:
1. Share prices as at December 31st 2010.
2. Per share figures based on fully diluted ITM shares at a closing price of 5.04 pence per Polo share.
3. Caledon 8.5% GBP 2.5 million assumed converted into shares where share price exceeds the conversion price.
4. Caledon loan advance plus facility fee repayable by February 28th 2011
5. Unaudited net asset value per share as at December 31st 2010.

(Sourced from www.digitaljournal.com)