Polo Resources Limited Celamin Holdings NL - Investment Update (1469S)
07 Marzo 2019 - 01:34AM
UK Regulatory
TIDMPOL
RNS Number : 1469S
Polo Resources Limited
07 March 2019
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.
07 March 2019
Polo Resources Limited
("Polo" or the "Company")
CELAMIN HOLDINGS NL - INVESTMENT UPDATE
Celamin Secures Strategic Tunisian Partner
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 20.53% investee company
Celamin Holdings Limited ("Celamin") (ASX: CNL), has announced that
it has entered into a Memorandum of Understanding ("MoU") with
Tunisian company Al Kassm Holding ("Al Kassm") to work together on
mineral resource projects in Tunisia and elsewhere in Africa. As
projects are acquired, Celamin and Al Kassm will form incorporated
joint ventures, with the project interests of each party to be
agreed on a case by case basis.
Al Kassm is owned by Mr Ahmed Bouchamaoui, a prominent and
highly regarded Tunisian businessman. During the last 30 years, Mr
Bouchamaoui has overseen successful businesses both in Tunisia and
internationally including, but not limited to, oil and gas
exploration and production, real estate, agriculture, education
(American University), construction, health, telecommunication, IT
and mining.
Mr Bouchamaoui is proactively encouraging international
investment in Tunisia and welcomes the technical and financial
capacity of Celamin. He said "I am extremely pleased to be working
with Celamin as they look to further their interests in the
resources sector in Tunisia. The potential of the region is largely
untapped and I am very confident that working with Celamin, we will
realise some of that potential."
Simon Eley, Executive Director of Celamin welcomed Al Kassm and
Mr Bouchamaoui as Celamin's strategic partner. "Mr Bouchamaoui is a
proven and successful investor in Tunisia and abroad due to his
international experience and openness to challenging the status
quo. His involvement is a significant vote of confidence in Celamin
and its resources projects in Tunisia. We are extremely pleased in
establishing a partnership with Mr Bouchamaoui, bringing to Celamin
extensive Tunisia experience and networks which will be invaluable
to Celamin as the company grows."
The full details of the announcement can be found at
http://www.celaminnl.com.au/.
For further information, please contact:
Polo Resources Limited
- Kudzayi Denenga, Investor Relations +27 (0) 787 312 919
Allenby Capital Limited (Nominated
adviser & broker)
- John Depasquale +44 (0)20 3328 5657
Blytheweigh (Public relations)
- Julia Tilley, Fergus Cowan +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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