Naheed Memon, the Oracle Power (LSE:ORCP) CEO joined us from Pakistan to discuss progress on the Jundee East gold project in Western Australia, and the development of the Thar Coal Project which is ongoing in the Sindh Province of Pakistan.

To summarise, a gravity survey has revealed the existence of a previously undiscovered greenstone belt located close to the existing Jundee East mine in the Eastern Goaldfields region of Western Australia, which has previously produced 7 million ounces of gold.

Greenstone is the key host rock for gold mineralisation in the Jundee area.

Naheed Memon told us she is ”super, super excited about having been able to confirm this through gravity magnetic surveys and modelling”. She went on to explain:

“We are setting ourselves up to become an internationally renowned, respected project developer in the natural resource space.”

Thar is 30 year coal mining lease and remains the flagship project. “We have 1.4 billion tonnes of lignite coal and we envisage the development of large industrial park which includes a power project, and now we have also included a coal to gas and a coal to liquid project, a coal processing set-up. That’s a phased project which runs to between 6-8 billion dollars on completion of the various elements.”

Thar Block VI is part of CPEC, the China Pakistan Economic Corridor, and funding of Thar comes from Chinese Government backed state companies such as China Coal, and also Sheikh Maktoum from Saudi Arabia.