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Polo Resources boosts stake in Australian gold explorer

Commodity investor issues shares to pay for bigger stake in Blackham Resources
Polo Resources boosts stake in Australian gold explorer
The deal will give Polo an 8.11% stake in Blackham

Commodity investor Polo Resources Limited (LON:POL) is issuing 9,832,358 new ordinary shares to pay for increasing its stake in Australian gold explorer Blackham Resources Limited (ASX:BLK).

It said on Friday that it had applied to get the consideration shares admitted to trading on AIM on Monday July 25, after which Polo's enlarged issued share capital will amount to 311,789,151 ordinary shares.

Polo has interests in oil, gold, coal, copper, phosphate, iron and vanadium.

The deal will result in its undiluted interest in Blackham rising to about 8.11% from its current combined direct and indirect holding of about 6.97%.

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