Company
LON:ORCP
Oracle Power PLC is an international power and natural resource project developer listed on London’s AIM market. The company is focussed on delivering reliable power in high growth markets and unlocking the value of highly accretive natural resource assets in prospective regions.
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Oracle expressed its gratitude to the Pakistani authorities at both the federal and provincial levels for the constructive way in which they have supported and continue to support the Thar project.
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Britain's blue-chip benchmark closed up nearly 86 points at 7,443, while the FTSE 250 added over 154 points at 19,311
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The development will now be an 8mln tonnes of coal per year operation feeding a single 2x660 MW unit.
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
A look at the day's major movers, including Karelian, UniVision, Cambria Africa, Bagir, Nautilus Marine, Stride Gaming and Patagonia Gold
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Naheed Memon, CEO of Oracle Power, said: "Significant progress has been made as per recent updates and we expect the funds under this Loan Agreement will be sufficient to reach Definitive Agreements with the Chinese Partners later this year
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The Dow Jones suffered a 300 point fall in the first half hour of trading
A look at the day's major movers, including RA International, Genus, LiDCO, Just Group, Yu Group and Thomas Cook
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A glance at some of the day's highlights from the Proactive Investors newswire
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Oracle said today it had now received assurances from both partners - Beijing Jingneng and PowerChina - that the memorandum of understanding (MOU) is intact.
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A glance at some of the day's highlights from the Proactive Investors newswire
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The company and its partners continue to advance the coal mine and power plant project in the Sindh province.
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A glance at some of the day's highlights from the Proactive Investors newswire
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A look at some of the biggest risers and fallers in London on Monday
It comes after latest data showed that core inflation in the US was flat last month (March) while consumer spending rose
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Some of the main news-driven risers and fallers in London on Wednesday…
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A glance at some of the day's highlights from the Proactive Investors newswire
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Changes in equity holdings reflect the confidence that Powerchina has in the project, says chief executive Ms Naheed Memon
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Mrs May reportedly told MPs that she will resign before the next phase of the Brexit negotiations.
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A glance at some of the day's highlights from the Proactive Investors newswire
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Along with Chinese energy giant Beijing Jingneng Power Company and its other joint venture partner, PowerChina, Oracle is developing a 700Mw coal-fired electricity plant in Pakistan’s Thar province
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A glance at the week’s top news from junior miners
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The energy developer said the consortium had agreed to provide a minimum of US$2.5mln in funding, in proportion to their intended stake in the project
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
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Ms Memon was previously Chair of the Sindh Board of Investment (Government of Sindh), the province where Thar is located
Investments and investor services
A look at the day's major movers, including PetroNeft, RTC Group, Hydrogen, Lekoil, Oracle Power, Fuller's and Mountfield.
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The UK's premier share index finished almost ten points down. It was also lower on the week as a whole
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A look back at the top news from London’s junior miners this week…
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A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
A look at the day's major movers, including N Brown, Range Resources, Arena Events, Origo Partners, Associated British Foods and Sage Group
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The Thar power station project was re-affirmed as a priority for the Pakistani government.
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
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Beijing Jingneng Power Company is replacing Sichuan Provincial as one of the three project partners and will assume its 78% ownership of the electricity plant
Investments and investor services
A look at the day's maor movers, including Carnival, EKF, Chamberlin, Panthera, NetScientific and Yu Group
"Investors aren’t willing to forgive Fed Chair Jeremy Powell yet; a soft open on Wall Street threatens to drag the FTSE lower into the close," said Fiona Cincotta at City Index
Investments and investor services
A look at the day's shiners and whiners, including Gaming Realms, Flybe, Interserve, Future, Galantas, Directa Plus and Mobile Streams
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A glance at some of the day's highlights from the Proactive Investors newswire
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Once all the approvals, permits and tariffs are in place, Oracle’s partners will arrange the finance with Sinosure and Chinese banks.
Investments and investor services
A look at day's gliders and sliders, including Integumen, MC Mining, Intermediate Capital, Bovis Homes and other house-builders, Dart Group,Flybe, easyJet, IAG, Learning Technologies and Oilex.
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the main news-driven risers and fallers in London on Tuesday...
"Global stocks have swung sharply lower, amid growing fears about the health of the Chinese economy and a slew of geopolitical concerns – UK, Italy and Saudi Arabia."
A round-up of the week’s top news from the junior miners
A look at some of the biggest risers and fallers in the UK market on Thursday.
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A glance at some of the day's highlights from the Proactive Investors newswire
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The update was provided alongside the company's interim results
The UK's premier index closed up around 36 points at 7,367.
A look at the news releases this week from London's junior miners
A look at some of the top risers and fallers in London today
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A glance at some of the day's highlights from the Proactive Investors newswire
"We are pleased to confirm this equity placing, which will strengthen the company's balance sheet and provide working capital taking the company forward with its Chinese partners.”
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Footsie closed the day up over 83 points at 7,659, but over the week as a whole it was down 0.54%
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A glance at some of the day's highlights from the Proactive Investors newswire
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One of the highlights for Oracle last year was signing a memorandum of understanding with Sichuan Provincial Investment and Power China for the Thar project
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
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Shares will be issued at 1.4p. Brandon Hill Capital will own 20.08% of the shares following the placing
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A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the biggest risers and fallers in London on Friday
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A glance at some of the day's highlights from the Proactive Investors newswire
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The MoU was originally signed in November between Oracle and SCIG and PowerChina, its two co-developers
The Footsie perked up after US jobs growth in February was way off the charts
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A glance at this week's top stories from London's junior miners
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A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of today's top risers and fallers in London
Investments and investor services
The index of blue-chip shares ended the day down 0.1% or points at 7,178.01 points after the CPI data
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A glance at some of the day's highlights from the Proactive Investors newswire
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Approvals are for the development of a 700MW coal-based power plant
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The index of blue-chip shares eased off a little in the final half-hour
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A glance at some of the day's highlights from the Proactive Investors newswire
Premaitha is given a fillip by permission to appeal against High Court's decision on patent dispute
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Oracle is working towards the financial sign-off of its Thar thermal power station project in Pakistan
Investments and investor services
“If he intended it, Treasury Secretary Steven Mnuchin has done a first class job of whacking the dollar,” declared Neil Wilson at ETX Capital. .
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Proactive takes a look at some of the highlight news stories from the small cap mining sector
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A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the top risers and fallers in London today
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"The move to 100% ownership of SCEL is a material development for Oracle"
The Footsie set another record closing level but it was not entirely storming ahead; most of the gain was down to bid stock GKN's 25% rise
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Oracle Power is moving towards financial close on a memorandum of understanding with two major Chinese state-owned companies
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A glance at this week's headlines from London's junior miners
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The coal mine and mine mouth power station developer expects 2018 will be a game changer as its Pakistan project takes shape
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A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
A look at some of the biggest risers and fallers in the London market today
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“This development is a transformational step for Oracle," said chief executive Shahrukh Khan
The FTSE 100 managed to turn away from earlier losses to edge slightly higher at the close
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A look at some of the day's highlights from the Proactive Investors newswire
Some of the main news-driven risers and fallers in London on Wednesday ...
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The company extended its thanks to the Pakistani Authorities who have continued to support its efforts in bringing this sizeable project to financial close.
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A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the top risers and fallers in London today
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"I am delighted that we have reached this important milestone in the development of our project,” said Shahrukh Khan, Oracle chief executive
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At around 3.55pm, the UK blue chip index was up 5 points to 7,498
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A glance at some of the day's highlights from the Proactive Investors newswire
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The AIM-listed energy developer of a combined lignite coal mine and mine mouth power plant said the MOU will see the Chinese parties take a significant majority equity holding in return for arranging debt finance and providing Engineering,
"We continue to believe that in order for an organisation to build and sustain a business-critical innovation ethos and competency, technology and consultancy need to be implemented in a joined-up way," said Imaginatik
