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9 September 2010

Oracle funds feasibility study

20/03/2009 Robert Tyerman

Pakistan-focused Oracle Coalfields has raised £150,000 at 3p for a bankable feasibility study on its massive Thar lignite project.

The PLUS-quoted company, headed by entrepreneur Sharukh Khan, hopes to start the study next month into Block V1 of the Thar coalfield in Pakistan’s Sindh province, holding an estimated 1.4 billion tonnes of lignite (‘brown coal’). Its conclusions will determine the project’s technical and financial possibilities.

Floated in 2007 at 3.25p, Oracle’s shares now trade at 6.25p. An encouraging feasibility study could provide another fillip.

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Sector: Mining

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