Developing Pakistan's First Large Scale Open Pit Coal Mine


Oracle Coalfields is an AIM listed (AIM:ORCP) lignite coal explorer and developer of a 1.4 billion tonne JORC resource deposit, with 371 million tonnes in the proven reserve category. The company’s primary interest is the Thar Coalfield Block VI license area located in the Sindh Province, South Eastern Pakistan

Oracle Coalfields is a UK based company with coal projects in Pakistan. The Directors identified and are now developing Block VI of the Thar Coalfields asset with initial production targeted for 2013. The Company’s Directors will continue to evaluate global opportunities for investment which have the potential to increase shareholder value, as well as identifying strategic partnerships for coal mining and production.

The company signed Memorandums of Understanding (MOU) for an offtake of its coal, with both Karachi Electricity Company (KESC) and Lucky Cement. KESC is a public listed power company which intends to build a power plant(s) at the mouth of the Block VI Thar Coalfield in order to address the power cuts and load shedding in Pakistan. Lucky Cement is a public listed major cement producer in Pakistan.



July 2006, Oracle Coalfields engaged Dargo Associates Limited, an international coal consultancy based in the UK, to assist with its investigation of prospective areas of interest and to evaluate coal prospects in the Sindh Province.

In 2007, Oracle Coalfields’ 80% owned subsidiary, Sindh Carbon Energy Limited, was granted two licences for coal development by the Sindh Coal Authority and Mines and Minerals Development, Government of Sindh. The first licence, Indus East, was granted on 8th February, 2007, and the license for Block VI of the Thar Coalfield, was granted on 14th November, 2007. Sindh Carbon Energy Limited’s, primary focus is the development of Block VI of the Thar Coalfield. The Indus license is currently held in abeyance as the company focuses on Thar Coalfield Project.

Oracle Coalfields listed on the PLUS Markets primary exchange in August 2007 following a placing with three cornerstone investors. In order to aid liquidity, additional fundraising was completed in September 2007 and June 2008.

The first licence granted, Indus East, covers 100 square kilometres of semi-arid land. The work programme at Indus East commenced in early November 2007. The second licence granted, Block VI of the Thar Coalfield, covers 66.1 square kilometers. Oracle Coalfields completed further drilling to take the project to JORC standard 1.4billion tonne resource with 371million tonnes proven reserve.

In December 2009 Oracle Coalfields signed Memorandums of Understanding (MOU) for an offtake of its coal, with both Karachi Electricity Company (KESC) and Lucky Cement. KESC is a public listed power company which intends to build a power plant(s) at the mouth of the Block VI Thar Coalfield in order to address the power cuts and load shedding in Pakistan. Lucky Cement is a public listed major cement producer in Pakistan.

Project Timeline
1.Successful AIM listing
2.Strengthen management team
3.Progress on the Thar Coalfield Block VI to:
DFS in 3rd quarter 2011 followed by BFS
4.Project Finance to be completed by H1 2012
5.Mine Development H2 2012
6.First Production 2013





Volume: 3,442 pcs.

Market Cap: GBP 14.73M


http://www.oraclecoalfields.com/index.php

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Oracle recovering nicely from recent lows and 1.5 placing 22% up today not bad..

Shahrukh Khan, Chief Executive Officer discusses Oracle has now put in place the building blocks for project implementation and is in active discussions with potential strategic partners, developers and potential contractors to develop both the mine and a mine mouth power plant with support of the Provincial and National Governments.

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