Oracle Power PLC (LSE:ORCP) has resolved all objections related to its application for Mining Lease M25/389, covering the Northern Zone gold project within its broader Kalgoorlie Gold Project in Western Australia. The site is located roughly 25 kilometres east of Kalgoorlie. With objections cleared, the company is now coordinating with legal advisers to obtain a formal recommendation and final approval of the lease from the Department of Mines, Petroleum and Exploration.
Key progress includes finalising native title agreements with the Marlinyu Ghoorlie Native Title Claimant Group, alongside addressing remaining third-party concerns. The removal of these barriers is expected to support the formal granting of the mining lease in the near term. Securing tenure represents an important step in advancing development plans at Kalgoorlie, including ongoing collaboration with MEGA Resources, and could reinforce Oracle’s footprint in Western Australia’s established gold sector.
From a financial standpoint, the company remains pre-revenue and continues to report losses and negative cash flow, underscoring its dependence on external capital. While the share price trend has been positive, elevated RSI readings and volatility point to potential near-term pullback risk. Valuation metrics are limited by the absence of earnings and dividend data.
More about Oracle Power PLC
Oracle Power PLC is an AIM-listed international project developer focused on natural resources, particularly gold and energy assets. Its portfolio includes the Kalgoorlie Gold Project in Western Australia, where it is advancing the Northern Zone Intrusive Hosted Gold Project within close proximity to the historic Kalgoorlie mining district.
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