In October 2009 Micromine Consulting evaluated the results of the drilling for Polo and defined a NI 43-101 compliant resource estimated at 254 Mt in the Indicated category and at 553 Mt in the Inferred category.

• The Erds Coal Project adjoins a tenement to the west owned by Gulfside Minerals Ltd, who recently announced NI 43-101 compliant resources of 1,185 Mt of thermal coal at the Onjuul coal deposit. The strip ratio is low and the coal is lignite (brown coal), a low rank thermal coal suitable for power generation. Polo, through its joint venture company with Peabody Energy, also has tenements (Altanshiree) immediately south of the Gulfside resource and adjoins the Erds resource to the east. The geology of the coal basin, combined with the large thicknesses of coal reported at Onjuul and Erds, strongly indicates that additional coal resources will be discovered at Altanshiree.

• The project is approximately 430km south-east of the capital city, Ulaanbaatar. It is close to rail and power infrastructure and is around 260km from the nearest border crossing into China.
  
  
  • The deposit style for the project is a rift basin, which coincides with the Jurassic–Cretaceous intracontinental rift evolution.
    
    
  • Deposits in the project area are hosted in the Huhteeg Formation, which contains thick coal seams. The area has undergone a series of exploration campaigns and the results indicate potential for large scale, multi bench, and open-cut operations.