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Oracle Power posts final results, as progress at Thar continues 

The company has entered into a consortium agreement to develop a lignite mine and a 1.3MW mine-mouth power station

Oracle Power PLC -

Oracle Power PLC (LON:ORCP) booked losses of just under £1.1mln for the past calendar year, which it called “a year of significant progress” as it looks to develop one of the largest power projects in Pakistan.  

The Thar Block VI project has been awarded priority status under the China-Pakistan Economic Corridor (CPEC) initiative within the 'Power' and 'Oil & Gas' working groups. 

During the year the company also welcomed a new and supportive shareholder, the private office of His Highness Sheikh Ahmed Dalmook Juma Al Maktoum. 

The company is now awaiting the results of its Letter of Intent application.  

Cash at year end was just over £400,000. 

Quick facts: Oracle Power PLC

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AIM:ORCP

Price: 0.345 GBX

Market Cap: £7.79 m

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