News blog
Oracle Coalfields
- BY: Andrew Hore |
- POSTED: 24/04/2012 |
Oracle Coalfields has completed the feasibility study on its lignite asset in Sindh Province in Pakistan.
Oracle had £1.6m in the bank at the end of 2011 and this will be enough working capital for the time being but more cash will be required later this year. Oracle lost £948,000 in 2011, while the cash outflow from operations was £645,000.
The environmental study should be completed in the middle of this year. Mine development should begin next year with production commencing in 2014.
At 5.25p a share, Oracle is valued at £11.3m.
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