Oracle Power PLC (LSE:ORCP) has reached another milestone in the development of its Northern Zone Kalgoorlie Gold Project in Western Australia, reporting substantial progress on the technical studies required to secure key operating permits. Working alongside Resources WA, the company has completed a range of assessments that support both its Native Vegetation Clearing Permit application and the Mine Development and Closure Plan for the proposed open-pit gold operation near the renowned Kalgoorlie “Super Pit”.
Engineering studies have confirmed that the planned pit slopes and waste dump designs meet high safety standards and are expected to remain stable under current site conditions. Environmental testing also found that the site’s waste rock is largely non-acid forming and has a strong capacity to neutralise acidity, reducing the likelihood of acid mine drainage while identifying no evidence of hazardous fibrous minerals.
Hydrological and hydrogeological investigations indicate groundwater is located around 37 metres below the surface and that the surrounding rock has low permeability, suggesting limited groundwater inflows during mining. Initial flood modelling also points to only modest infrastructure requirements, with minor culvert installations expected along access roads. Oracle Power said the Native Vegetation Clearing Permit application is nearing completion, while the Mine Development and Closure Plan is around 60% finished, keeping the project on track for future permitting approvals and the commencement of mining activities in the Kalgoorlie gold region.
Despite the operational progress, the company’s investment outlook continues to be weighed down by its financial profile, with no current revenue, ongoing losses and sustained cash outflows. Technical indicators remain broadly neutral to weak, offering only limited support for the share price. Valuation also remains challenging as the company is loss-making and does not currently provide a dividend yield.
More about Oracle Power PLC
Oracle Power PLC is an AIM-listed natural resources developer focused on advancing mining projects with long-term production potential. Its flagship Northern Zone Kalgoorlie Gold Project is located approximately 25 kilometres east of Kalgoorlie in Western Australia, one of the world’s most established gold mining districts.
Positioned close to the famous Kalgoorlie “Super Pit” and the Golden Mile/Fimiston goldfield, the project benefits from access to existing mining infrastructure and an established regulatory environment. Oracle Power is currently focused on securing the environmental and mining approvals required to advance the project from the development stage toward construction and future gold production.
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