Executive Summary
Oracle Coalfields plc is an independent coal exploration and development company focused on investment development opportunities in the coal sector. Oracle is currently focussing on a coal development project in the Sindh Province, Pakistan. The Company owns 80% of Sindh Carbon Energy Limited which has been granted a license in the Thar coal field for coal development. The licence is in the Thar Desert located in South East Pakistan, owning exclusive rights to Block VI, a 66.1 square kilometres area. Following a pre-feasibility study conducted by Dargo Associates, Block VI is believed to have deposits of 1.4 billion tonnes JORC measured lignite coal with 371Mt net attributable to proven reserve. The Company intends to begin production from 2013, with initial sales of 0.75Mt p.a. onwards for cement industry increasing to sales of 1.75Mt p.a. to a new power plant by 2015. A definitive feasibility study (DFS) currently underway is based on a production of 4Mt p.a. from 2015 with a minimum mine life of 20 years.
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