Member Info for AG1989

Good News, next step hopefully a Resource Estimation, maybe over 1Moz, maybe below but good to put a number on it all finally to keep it growing

https://x.com/plancom****stan/status/1793921619166900593

"🇵🇰🇨🇳#13thjcc: ****stan looks forward to transforming huge coal deposits into green energy through coal gasification

planning minister prof ahsan iqbal highlights that mining in #thar has significantly contributed to ****stan's #energy_security and economic growth. he said ****stan now looks forward to transforming huge coal deposits into #green_energy through coal gasification.

the development highlights the commitment of both nations to sustainable and mutually beneficial development.

#cpecphase2 #pakchinafriendship"

the 13th jcc today

it's just been extremely vague from the companies perspective, i understand they're governed by regulations, so whilst there are external issues (ie nepra approval), there's limited to what can be reported to the market. but there does look like some movement in the background. how remotely vague or progressive this is, we're yet to see?

in the initial mou, it talks about the power plant being relocated to k electrics land at port qasim, karachi. the thar coal fields to port qasim, karachi is around a 5 hour drive for my initial thoughts were is it too far? would k electric just get a seperate supply, closer to the port?

but this article seems to insinuate the coal would still be coming from thar and our block, with the relocation 5 hours away

https://www.brecorder.com/news/40245581

"according to the letter, this is the last cpec coal to power project, and considering the increased restrictions imposed by the global financial institutions to develop coal power plants, this cooperation arrangement to develop the project presents the best opportunity for ****stan, to further develop and utilize thar coal to generate inexpensive power.

both companies are of the view that the inexpensive base load power generated from the indigenous coal power plants is a pivotal requirement to curtail the burgeoning electricity price and stem the outward flow of foreign currency from the country. ke stands to be the largest power buyer in province of sindh, as well as the most favourable off-taker for chinese financiers, for supporting new power projects.

ke is currently in the process of finalizing its long-term business plan to cater for the ever-increasing demand in its system. in order to meet this rising power need of the city of karachi, ke plans to optimize its fuel mix through inducting a combination of renewables and base load plants, based on indigenous resources including local coal. it is projected that the requirement for new base load power will arise from the financial year of 2028-29."

and when you consider the level they currently import from other countries, transporting it from thar i don't see as an issue.

Definitely LTH. The NEPRA approval for KE, would tie in with other pretty significant projects for them, but if a deal for Block 6 could be inclusive within that (PAP), it would be pretty ground breaking for Oracle Power, and it’s shareholders.

If so, you’d imagine to see some kind of MoU extension in the near future, otherwise it would amount to nothing. Interestingly, Power China (also involved with the MoU), were executed in an MoU extension at GCM resources recently, prior to them committing $1Billion for a coal mine

just been having a discussion on the twitter group

since may last year, when we signed the mou for thar block 6 with: gos, k-electric, power china

it really has been quiet and nothing reported since (from oracle)

https://www.lse.co.uk/rns/orcp/mou-for-132-gw-coal-power-plant-8211-thar-block-vi-x4zw3vntwjbds3r.html

but going down something of a rabbit hole, i found the following links for the last couple of months

https://www.power-technology.com/data-insights/power-plant-profile-thar-block-vi-power-plant-****stan/

https://www.gem.wiki/thar_block_vi_power_station

“in july 2023, the thar block vi coal plant was listed as an "upcoming ipp" by the private power & infrastructure board (ppib) of the government of ****stan's ministry of energy. the proposal was labeled as an indicative generation capacity expansion plan "candidate project" through 2032.[34]

in november 2023, the ppib's "upcoming ipps" listings indicated that the proposed power station was "under review" and the expected completion date was now december 2028.[35]“

two entirely separate articles, both alluding to further developments, and that the project has an equal equity holding of (33.4%,33.3%,33.3%) - k electric| oracle power| power china respectively.

now it’s either very lazy journalism, or there’s actual meat on the bones to this. alludes to project construction 2027, with completion date 2028, which admittedly seems a very short turn around but that’s that.

then moving onto k electric, rummaging through their latest news events on their website. an enormous company with plenty of work ongoing. they submitted a pap (planned acquisition programme) to nepra (national electric power regulatory authority) in 2023. this plan outlined their intentions to invest 484 billion ****stani rupees (£1.36b) into these different projects, with a big aim to invest in renewables.

nepra officially approved k electrics plans only 2 days ago which could be significant

https://www.ke.com.pk/nepra-approves-k-electrics-power-acquisition-program-for-fy-2024-2028/

also adding

“additionally, the pap includes capacity addition on local coal which will diversify the energy mix and reduce reliance on imported fuels.”

which could potentially tie into block 6. still nothing official from oracle but cards being played by powers far above oracles station currently. could there actually be developments finally for block 6, is it a saga destined to continue into nothingness. following k electric very closely for further announcements

Https://www.lse.co.uk/rns/ORCP/option-to-acquire-copper-silver-project-j6bpjpgo3zmuqqy.html

Would be when the 45 day option expires ?

£200,000 payable in shares.

Challenging myself how many times I can say the word “see”

I see the Loi has been extended too, good news but a necessity in continuing the process

I see this MoU is now out of date, regarding THAR BLOCK 6. 16th may - Hoping to see a delayed extension in the near future, something GCM did not long ago before receiving a $1 Billion commitment

https://www.lse.co.uk/rns/ORCP/mou-for-132-gw-coal-power-plant-8211-thar-block-vi-x4zw3vntwjbds3r.html

It used to be weeks, but post covid you were talking 3-6 months in some cases with such a high backlog

Probably would have eased off a little since

To be fair our point of call was Ed Mead, our Geologist in Australia with bags full of experience in the field. I think we held our own. We've raised money for GH on some shocking terms, but we've probably raised north of £3m so far, so it is possible. I'd have like to have seen a few more drill campaigns, delineate our own resource and potentially get a stronger JV but it's not the end of the world, and, NZ is being progressed

I sold out for Pennies when we were still sticking holes into the Eclipse project and it was going nowhere. But talk about a mineralised system, 40 KM in strike, 8km in width? and every Hole ending in mineralisation? It's a no brainer that the board here are fast tracking this

To be fair, it kind of was gifted to ORCP, £90,000 + plus a share package, and to retain 20% moving forward is better than moving the project on Completely. Its in a brilliant jurisdiction and i think with the current drill Campaigns, Riversgold will have completed their earn in, or not far off it, establishing the 80:20 JV

And I'm not against a JV at all, i was all in favour of one, i just felt it was a little premature and not done on the best terms, terms we could have amplified with a little more progress on our end. But everyone has an opinion i guess

I'm not saying lets not do anything of it, but NZ was the reason i bought into Oracle a couple of years back. The signs were all there, and the data provided on the projects page clearly pointed to a large system that delivered positive results with historical drilling, and a couple of drill campaigns wouldn't have broke the bank

It's all hindsight, i just feel the millions pumped into Green Hydrogen over the years, if that money went into NZ, i believe we'd have 100% ownership of a pretty advanced project. But thats the way it goes, Naheed has hung her hat on Green Hydrogen and this is where we are. The milestones are being ticked off, lets hope the end results overcompensate the 95% loss we've incurred over the years. I don't buy into the Market conditions Naheed always alludes to, they simply don't have confidence in her delivering. I somewhat do, but it's been a very harsh ride in something that investors could have been extremely happy about

Great Interview, should have bought in months back, and been tracking the progress, it's undeniable that Pitfield looks to be an absolute monster which constantly delivers Blockbuster results

Get a good, calm, but optimistic feeling from Shaun too, bought in this morning. GLA, sets to be an exciting couple of years ahead.

NZ has bags full of potential, just a shame we gave (or have nearly gave), 80% up

That said, lets hope this next Campaign yields positive results and a JORC Resource 1Moz+

With the Price of an Ounce of Gold sitting just under an all time high at £1880, you can soon see how such a deposit, so close to surface can become lucrative (Under the right management and Direction that is)

Still a huge gamble. Make a loss on your £300k investment for a 12 month option on warrants 40% above todays price.

Especially when you consider the historical share price trend after a raise. It’s obviously that gamble of news being mega close and if this ever saw 0.1p/0.2p etc in the next 12 months then those warrants are a license to print money.

Time will tell but a huge gamble:investment for those involved.

I think finally something needs to be done. Ever since the introduction of this project, the share price has bled and bled and bled, and continues to do so

Unless a £100m buyout comes in once we secure financing, I can’t see this getting much better. How far down will she take the share price before we finally get the news and timelines she has promised us ? We were probably sat on a £20-£30m MCAP when she introduced this 18 months ago, and this is our flagship project 😂

She’s out of her depth. These terms for Oracle Energy after all of this better be mouth watering, block busting, Wall Street smashing terms.

If we knew those terms, or a had an inkling what we were expecting it may ease a few concerns, but we have no idea

She said that she was expecting a 3 month turnaround on this, so one month is pleasing.

That 10p a share not too long ago would have to equate to a £350m MCAP. Now it’s £700m.