The first phase of this strategy is to finalise all permissions and licences relating to its Thar Project in Pakistan to meet the conditional precedents for securing and arranging financing under the China-Pakistan Economic Corridor (‘CPEC’) and to take the Thar Project to commercial operation in mining and power supply.
The Board and the Company’s partners are advancing the Thar Project under the CPEC initiative, where it has been awarded priority status. It is anticipated that the Thar Project’s position within the prominent CPEC initiative will assist in accelerating development and deliver further support both nationally and internationally.
In parallel Oracle is actively evaluating a coal gasification to urea project, further utilising the 1.4 billion tonnes of coal at the Thar Project which will further advance the inherent value of the Company and its assets and provide further contribution to the economy of Pakistan.
Contemporaneously the Company aims to leverage its expertise, corporate network and international connections to become a vehicle to acquire and develop energy and natural resource projects primarily in the emerging developing markets.