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Oracle gets its licence back

By Robert Tyerman | Wednesday 25 February 2015

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Shares in bombed-out Oracle Coalfields (ORCP) have bounced on confirmation that the company has had its mining lease over a lignite (brown coal) deposit in south-east Pakistan’s Thar coalfield potentially holding more than a billion tonnes reinstated by the government of Sindh Province. Entrepreneurial chief executive Shahrukh Khan says AIM-quoted Oracle, whose shares fell from a 10p float price in 2011 to a recent low of 0.37p before rallying to 0.9p, is now talking to major potential Pakistani and Chinese partners about putting together a $1.3 billion (£840 million) project funding package.

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