Oracle Power (ORCP)

Sector:

Mining

Index:

FTSE AIM All-Share

0.65p
   
  • Change Today:
    -0.025p
  • 52 Week High: 1.38
  • 52 Week Low: 0.19
  • Currency: UK Pounds
  • Shares Issued: 1,858.91m
  • Volume: 20,860,815
  • Market Cap: £12.08m

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Oracle Power's losses shrink but more funding required

By Duncan Ferris

Date: Tuesday 18 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Oracle Power on Tuesday reported a narrowed full-year loss after clamping down on costs, though admitted that it will require more funding when it exhausts a new short-term working capital loan facility.
The AIM traded company, which is developing a combined lignite mineral resource and mine mouth power plant in the Thar desert, Pakistan, recorded a loss before tax of £0.9m for 2018, marking an improvement of 16% on the year before.

Boosting its bottom linem Oracle, which has yet to generate any revenue, saw administrative expenses drop by 14% to £0.9m.

The company had cash and cash equivalents of £49,000 at the end of the year and although it secured a short-term working capital loan facility with Brandon Hill Capital Limited for up to £250,000 in May, the energy developer said further funding will be required before the end of 2019.

Equity placings in March 2018 and August 2018 raised £550,000 and £450,000 respectively, while a post-period end placing in February 2019 raised a further £500,000.

Oracle also inked a non-binding memorandum of understanding with two Chinese power companies to develop and operate the Pakistani mine and power plant and for financing.

Post period end, the company's focus has been on formalising detailed agreements with its Chinese partners, some pre-development work to finalise detailed technical work programmes and moving to fulfil requirements for permissions, licences and other approvals that need to be obtained from the relevant Pakistani Government bodies.

Oracle Power's shares were down 0.06% at 0.33p at 1242 BST.

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Oracle Power Market Data

Currency UK Pounds
Share Price 0.65p
Change Today -0.025p
% Change -3.70 %
52 Week High 1.38
52 Week Low 0.19
Volume 20,860,815
Shares Issued 1,858.91m
Market Cap £12.08m

Oracle Power Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
12.8% below the market average12.8% below the market average12.8% below the market average12.8% below the market average12.8% below the market average
11.3% below the sector average11.3% below the sector average11.3% below the sector average11.3% below the sector average11.3% below the sector average
Price Trend
51.28% above the market average51.28% above the market average51.28% above the market average51.28% above the market average51.28% above the market average
47.97% above the sector average47.97% above the sector average47.97% above the sector average47.97% above the sector average47.97% above the sector average
Income Not Available
Growth Not Available

Oracle Power Dividends

No dividends found

Trades for 02-Jun-2020

Time Volume / Share Price
16:36 4,109,113 @ 0.65p
16:35 1,004,999 @ 0.65p
16:17 13,546 @ 0.65p
16:08 46,705 @ 0.65p
16:06 150,000 @ 0.65p

Oracle Power Key Personnel

Chair Mark Steed

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