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Oracle Coalfields
- BY: Andrew Hore |
- POSTED: 26/06/2012 |
Oracle Coalfields has signed a joint development agreement with Karachi Electric Supply Company, which will lead to 80%-owned subsidiary Sindh Carbon Energy supply the electricity company coal and water.
The coal and water will be used by a 300MW coal-fired power station which will be built near to the mine in Block VI of the Thar coalfield in Pakistan. The power station capacity could be increased to 1,100MW.
The mining lease was granted on 12 April.
At 4p a share, Oracle is valued at £8.57m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf
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