Oracle Power (LSE:ORCP) has obtained an initial heritage survey outcome for its Northern Zone Gold Project near Kalgoorlie, confirming that no heritage sites were identified across the main tenements. The findings indicate the area is clear from a heritage standpoint, with a final report expected within roughly four weeks. This report will feed into the Mine Development and Closure Plan, a key requirement before mining can proceed once the Mining Lease is approved.
Development of the project is being carried out alongside Riversgold, under a Right to Mine and Co-Operation Agreement with MEGA Resources. Under this arrangement, MEGA will finance all development and mining activities in exchange for an equal 50% share of profits from the joint venture. The positive heritage outcome reduces regulatory risk and supports continued progress on planned drilling and mining programmes in a region strategically located near major Kalgoorlie gold operations.
Despite this operational progress, Oracle Power’s broader outlook remains pressured by the absence of revenue, ongoing losses, and negative cash flow, highlighting its dependence on external funding. From a market perspective, technical indicators suggest a strong upward trend, though elevated RSI levels point to overbought conditions, and volatility raises the likelihood of a near-term pullback. Valuation remains limited by negative earnings and the lack of dividend visibility.
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Oracle Power PLC is a global natural resources project developer, currently focused on its Northern Zone Intrusive Hosted Gold Project in Western Australia. Located approximately 25 km east of Kalgoorlie, the project targets porphyry-style gold mineralisation within the Canon Shear zone, placing the company in one of the world’s most productive gold regions.
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