1st Dec 2020 19:45
Oracle Power PLC - power and natural resource project developer - Notes firm and The Office of His Highness Sheikh Ahmed Dalmook Al Maktoum 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, Oracle and HH Private Office have together reached the agreement that they will not pursue this project further.
Chief Executive Naheed Memon adds: "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."
Current stock price: 0.59 pence
Year-to-date change: down 52%
By Paul McGowan; [email protected]
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