Business
Results for the Year ended 31 December 2010
Results for the Year ended 31 December 2010.
About this update from Oracle Power Plc
[{"type":"text","content":"\n \n\n 19th April 2011\n GB00B23JN426/GBP/PLUS-exn\n\n Oracle Coalfields PLC\n\n (\"Oracle\" or the \"Company\")\n\n Results for the Year ended 31 December 2010\n\nOracle Coalfields (PLUS: ORCP), the UK developer of an estimtaed 1.4 billion tonne coal resource in the south-\neastern desert of Sindh Province, Pakistan, today announces results of the Company and the Group for the year\nended 31 December 2010.\n\nPeriod Highlights\n\n * Placing raised £2 million during the course of 2010. This includes an investment of over £1 million by\n Regency Mines PLC (AIM:RGM), a mining explorer and developer with interests in Western Australia,\n Queensland and Papua New Guinea, which now holds approximately 10% of the enlarged share capital of\n Oracle Coalfields.\n\n * Work continued throughout the year on the studies for the Bankable Feasibility Study (BFS) on the Block\n VI licence, including the Environmental & Social Impact Assessment (ESIA).\n\n * Appointment of internationally reputed independent consultants to oversee drilling programme and\n completion of feasibility study to bankable standard.\n\n * License extended by the Coal and Energy Development Department for an additional year.\n\nPost Period Highlights\n\n * Listing on the London Stock Exchange's Alternative Investment Market (AIM) on Wednesday 20th April 2011\n\n * Successful Placing of £3 million.\n\nShahrukh Khan, Chairman and CEO of Oracle Coalfields, commented: \"It has been a significant year for us where we\nhave continued to make good progress in the development of Block VI coal deposit in the Thar Coalfield of Southern\nPakistan. As a PLUS listed company we managed to raise funds and attract supporters of the stock and our vision\nof building Pakistan's first coal producing mine. To this end, we have appointed internationally recognised and\nrespected consultants to work towards the Bankable Feasibility Study.\n\n\"In addition, and post results we have announced our intention to list on the Alternative Investment Market. This\nhas been one of our goals and we are delighted at the support we received, culminating in the company being\noversubscribed and raising £3 million. We look forward to the forthcoming year with optimism.\"\n\nFor further information contact:\n\nOracle Coalfields PLC\nShahrukh Khan, Chairman and CEO\nTelephone: +44 (0) 1366500722\n\nSt H...