Stocktube video
22/03/2012

Oracle Coalfields CEO talks about the move from exploration to development

View full size
Additional Information
Market: AIM
Sector: General Mining - Coal
EPIC: ORCP
Latest Price: 3.75p  (0,00%)
52-week High: 10.50p
52-week Low: 3.63p
Market Cap: 8.03M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Oracle Coalfields
www.oraclecoalfields.com

Oracle Coalfields is a UK based company with its primary coal projects in Pakistan. It will in time evaluate global opportunities for investment and strategic partnership for coal mining and production.

Pdf

Oracle Coalfields submits mining lease for 1.4-billion tonne Thar project

8th Nov 2011, 9:01 am by Jon Mainwaring An independent coal consultant has defined a 1.4 billion JORC resource and proved JORC reserve of 371 million tonnes

Pakistan-focused Oracle Coalfields (LON:ORCP) announced this morning that its 80-per cent owned subsidiary  in the country has submitted an application for a 30-year mining lease for the company’s Block VI Thar Coalfield project.

Oracle plans to be a pioneering developer of the Thar Coalfield, which is located 380 kilometres from Karachi and covers a total area of 9,100 square kilometres. It has a total lignite coal resource that is in excess of 175 billion tonnes, and an independent coal consultant has defined a 1.4 billion JORC resource and proved JORC reserve of 371 million tonnes across the prospective mine area.

The coalfield is also in close proximity to good infrastructure, with ongoing development of a road and power network in the region, according to the company.

“The successful application for a mining lease would give the company full mining concession status and will demonstrate the strong continuing support of the Sindh Government for the project”, said Shahrukh Khan, Oracle’s chief executive. “This is another important step by Oracle Coalfields as we work towards bringing Pakistan's first coal mine into production and thereby contributing a major foundation for the future economic well-being of the country.”

Shares in Oracle were down 0.2 per cent at 7.36 pence each during early trading this morning.


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.