forwardloop
06 May 2016
Legendary sell [link] of Stakes in Oracle Coalfields PLC and Sula Iron & Gold PLCLegendary Investments PLC (AIM: LEG) announces that is has disposed of its stakes in Oracle Coalfields PLC and Sula Iron & Gold PLC. While the disposals have only raised limited additional funds of circa £25,000, they indicate the Company's intention to focus on its core investments, Virtual Stock, Bosques Energeticos SA de CV, Manas Resources LLP and Amedeo Resources plc and to seek additional promising investments of which a number are currently under review.
forwardloop
19 Mar 2016
info [link]
Tempestas
02 Mar 2016
Re: News? Thanks. I didn't think we were expecting news but appears to have been a bit more interest of late regards buying.Thanks Bernie.
Boring Bernie
02 Mar 2016
Re: News? Short term, not much mate. Presumably we'll get the finals next month, but it's the medium term which interests me more, when we start to here about how the next stage will be funded.At the moment. I'm more than happy just to sit on my holding here and see how it turns out.
Tempestas
02 Mar 2016
News? What news are we expecting in the short term?
Tempestas
05 Nov 2015
News. News getting better and better.
Boring Bernie
19 Oct 2015
Re: Not Complaining but why? There seems to have been a fair amount of buying pressure again today, maybe brought about by three early trades of 500,000 shares ? A fair amount of trades of 500k and a million shares have gone through today and on Friday, most of which have been delayed so it's hard to say categorically they're buys.The really big recent trades were16-Oct-1515:38:312.002,163,094Sell* 1.952.1043.26kO 16-Oct-1511:25:111.8010,735,795Sell* 1.952.00193.24kBoth were delayed, so are marked as sells because they've been judged at the time they were published rather than at the time the trade went through. Looking at the trades at that time I'd say the 2.1 million trade was a Buy. The 10.7 million trade isn't an obvious buy, but it's hard to believe it was a sell, otherwise surely the sp would have dropped like a stone ?Puzzled but holding describes my position at the moment !
Tempestas
17 Oct 2015
Re: Not Complaining but why? [link] good post.The plan is coming together and reading the above getting bigger.Friday trading, some very good trades, suggests to me news is coming.
skeaman
17 Oct 2015
Not Complaining but why? I am definitely not complaining about the 50% increase in the value of our shares over the last week but can anyone explain why?
forwardloop
24 Sep 2015
Re: more info [link]
Boring Bernie
11 Aug 2015
Re: more info It's slowly coming together.Still a tough call to judge how we'll fare when the new equity is issued, but I'm still hopeful and hold
forwardloop
11 Aug 2015
more info [link]
WingCommander2
17 Jun 2015
Re: info what is interesting is even SRK is not aware of why the license was cancelled and by whom. The fact that this is not clear is a bit disconcerting, but if you understand Pakistan like I do. There are many unexplained issues which remain a mystery!
forwardloop
13 Jun 2015
info [link] Thar Coalfield is 380km east of Karachi, and covers 9,100 sq km with a total lignite coal resource in excess of 175bn tonnesThe cancellation of Oracle Coalfield's (LON:ORPC) mining lease for its huge coal and power project late last year could hardly be described as a minor blip, but the firm appears to have moved on and it's now full steam ahead.A 300% upsurge in the share price since the lease was reinstated by the Pakistan authorities suggests the market believes so too.There is much work afoot but the real glint on the horizon the firm is heading towards is a letter of intent from Chinese credit giant Sinosure confirming its underwriting of the 70% debt element of the coal and power project in Sindh province.It is, and has been, a lengthy road but Oracle is inching closer to developing a coal mine with a power station at its mouth to serve Pakistan's energy needs.At its first stage an eye-watering 4 mln tonnes of coal a year will feed a 600MW power station.The cost of bringing it into fruition is put at US$1.5bn including the cost of financing, of which around US$1bn will be debt.The remainder, or 30%, will be funded via equity investment, and garnering investor interest is already going very well and will be boosted by getting the Sinosure letter, said Oracle CEO Shahrukh Khan, not least as that will mean zero risk for any lender (because Sinosure will give money back in the event of a problem).Obviously, Oracle will not be able to maintain 30% of the project itself, raising the best part of US$500mln and shareholders will face dilution as new investors come in but the value of the project will still mean it's worth it for shareholders, reckons Khan.Chinese partner SEPCO, which is leading the EPC (engineering, contracting and construction) term sheets has talked about ending up with around a 10% ownership in the project, for example.Having a big investor come in on the project does not worry Khan, however."We can live with that because Oracle itself will not be compromised because the upside is very much there," he told Proactive.The fact a big player may well step in was made all the more likely by the fact the project is now included in the China-Pakistan economic corridor (CPEC) - meaning the Chinese government and banks can make “fast-track” money available to approved projects, Khan explained.Financing available for energy projects from is expected to be around US$33.8bn. So the jigsaw is now starting to come together for Oracle. In terms of a timeline of necessary milestones, it is currently working on the EPC documents along with a coal supply agreement and power purchase agreement, whereby the coal price supply cost will be agreed with the Thar coal and Energy board, which will then be fed into the electricity agreement.The firm hopes to agree the electricity tariff Pricing Regulatory Authority (NEPRA) in Pakistan in the fourth quarter this year, and the numbers are already compelling, said Khan.He says electricity on Pakistan's National Grid is currently selling for 18-20 cents per KW/h. "We know we can significantly reduce that," he said.A final decision on debt from Sinosure and a final investment decision is earmarked for the fourth quarter - a point to which the firm says it is now fully funded.First power delivery is targeted for late 2018, but mine opening and power plant construction could start as early as in the first half of next year.That Pakistan is going through an energy crisis is not in doubt.It has suffered cuts and outages since 2008, which has hampered GDP growth but Oracle reckons with a resource like Thar, at 1.4bn tonnes, the country can develop low-cost domestic generation capacity at a si
WingCommander2
29 May 2015
[link] generation through Thar coal starts Hanif KhalidFriday, May 29, 2015 ISLAMABAD: Pakistan successfully produced electricity through the Thar Coal on Thursday (May 28), the day of Youm-e-Takbeer. This will help in mitigating the electricity crisis in the country. The Underground Coal Gasification Project in Tharparkar has started producing power from May 28. Prime Minister Nawaz Sharif is very happy to hear this good news and will visit Tharparkar to see production of electricity through coal there. Some 50,000MW power can be produced through coal in Tharparkar for 150 years. The pilot project has started producing 5MW electricity with the cooperation of Chinese companies there.The head of the project, Dr Samar Mubarakmand, engineers and staff have thanked Allah on this success. Dr Samar Mubarakmand said the electricity would be provided to nearby villages free of cost. The people celebrated this success there.
