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Oracle Power

  • BY: Andrew Hore |
  • POSTED: 22/02/2019 |

Lignite coal mine and power plant developer Oracle Power has raised £500,000 at 0.425p a share. 

Each placing share comes with a warrant exercisable at 0.85p a share and this warrant lasts for 24 months.

The cash will fund pre-development work with Chinese partners for the proposed mine in the south east of Sindh Province in Pakistan. A pre-development funding plan for Thar Block VI suggests that Oracle will retain 12.1% of the project and it has to provide pre-development funding of at least $300,000.

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