Oracle Coalfields – rally should continue based on the back of pricing deal
Shares in long-unfavoured Oracle Coalfields (ORCP) have been winning some new friends in the wake of acceptance by government of Pakistan’s Sindh province of the company’s pricing petition for its 1.4 billion tonne brown coal (lignite) project in the province’s Thar desert. Shahrukh Khan, entrepreneurial Chief executive officer of AIM-quoted Oracle, argues this acceptance, which will still needs federal ratification if the Sindh government approves, amounts to a ‘green light’ for the projected first phase of the project, which envisages producing four million tonnes a year to feed a 600-megawatt power station for the electricity-hungry region, at an initial price for the lignite of $76.48c (£49) a tonne, subject to later annual review.
- By Robert Tyerman
- 2015-08-23 00:07:02