Oracle shares spike on deal with Chinese partners
Published by Jonathan Rowland,
Editor
World Coal,
Oracle Coalfields shares have spiked on news that it has signed a Shareholder Framework Agreement with a consortium of new and existing Chinese partners.
Under the agreement, the Chinese partners will take a 70% equity stake in Oracles subsidiaries in Pakistan.
Shares in the company ended the day on 3 June at £3.20 - their highest level since mid-2012 – before hitting £3.49 after trading opened on 6 June.
The UK-based company is developing an integrating lignite mine and power plant in the Thar desert of southeast Sindh Province in Pakistan.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/06062016/oracle-shares-spike-on-deal-with-chinese-partners-2016-901/
You might also like
EIA reduces its forecast for US coal exports following Port of Baltimore closure
The US EIA has decreased its forecast for US coal exports following the collapse of the Francis Scott Key Bridge and the resulting closure of the Port of Baltimore.