Oracle Power PLC Update on Non-Binding MoU with HH Private Office (0170H)
2020年12月1日 - 4:00PM
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RNS Number : 0170H
Oracle Power PLC
01 December 2020
1 December 2020
Oracle Power PLC
("Oracle", the "Company")
Update on Non-Binding MoU with HH Private Office
Oracle Power PLC, the AIM listed international natural resource
and power project developer (AIM:ORCP), announces that further to
the announcement on 29 July 2020, the Board of Oracle and The
Office of His Highness Sheikh Ahmed Dalmook Al Maktoum ('HH Private
Office') continue to work closely on the evaluation of potential
mining opportunities in Africa.
Following the completion of initial assessments on the iron ore
asset in Guinea which was referred to in the announcement of 29
July 2020, the Board of Oracle and HH Private Office have together
reached the agreement that they will not pursue this project
further and instead will jointly focus on additional opportunities
within the natural resources sector in Africa. The Company will
provide further updates regarding these opportunities as they
arise.
Naheed Memon, CEO of Oracle, commented :
"We continue to work with The Private Office of His Highness
Sheikh Ahmed Dalmook Al Maktoum to generate interesting
opportunities which merit further evaluation. The ongoing support
of HH Private Office, both in terms of our flagship Thar Block VI
Project and this potential collaboration in new mining projects in
Africa, strengthens our fundamentals as an international natural
resources and power project developer. I am greatly encouraged by
the shared motivation and engagement, amongst all parties, as we
continue to build Oracle Power PLC."
*ENDS*
For further information visit the Company's website at
www.oraclepower.co.uk or contact:
Oracle Power PLC +44 (0) 203 580
Naheed Memon 4314
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited (Joint
Broker) +44 (0) 203 463
Oliver Stansfield 5000
Shard Capital (Joint Broker)
Damon Heath +44 (0) 20 7186
Isabella Pierre 9952
St Brides Partners Limited (Financial
PR)
Susie Geliher +44 (0) 20 7236
Catherine Leftley 1177
About Oracle Power PLC:
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 and affordable power in emerging
developing markets, unlocking the value of underutilised and
undeveloped natural resources to provide energy security and
support economic growth and development. Its initial project is the
Thar Block VI Project in the Thar desert in the south-east of the
Sindh province of Pakistan. The Thar Project is a 66.1 sq km
licence containing 1.4 billion tonnes of coal, where the Company,
in tandem with its partners China National Coal Development Company
Ltd. (CNCDC) and the private office of His Highness Sheikh Ahmed
Bin Dalmook Juma Al Maktoum, is advancing a combined lignite coal
mine, a 1,320MW mine mouth power plant and a proposed coal
gasification to urea project.
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END
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