Oracle Power raises £500,000 to accelerate gold and energy development plans (ORCP)

Oracle Power PLC (LSE:ORCP) has secured £500,000 through a placing of 1.25 billion new ordinary shares at 0.04 pence each. The issue price represents a 20% discount to the previous closing share price but remains well above the level of the company’s last fundraising in August 2025. The proceeds will be used to advance its Australian gold assets, following the award of a mining lease for the Northern Zone Gold Project, while also supporting its energy projects in Pakistan and providing additional working capital. Admission of the new shares to AIM is expected on or around 9 July 2026.

The fundraising provides additional financial support as Oracle advances towards potential gold production through its partnership with Riversgold Limited and its funding and production partner, while continuing to develop its energy portfolio in Pakistan. The enlarged share capital and updated voting rights also provide greater transparency for shareholders under UK disclosure requirements as the company works to move its gold operations closer to generating revenue.

Oracle Power’s outlook remains constrained by weak financial performance, with the company continuing to report no revenue, ongoing losses and persistent cash outflows, although its relatively low debt position offers some balance sheet support. Technical indicators remain favourable, with the shares trading above major moving averages, but overbought momentum signals point to the possibility of increased short-term volatility. Valuation remains difficult to assess due to negative earnings and the absence of a dividend.

More about Oracle Power PLC

Oracle Power PLC is an AIM-listed international project developer with operations centred in Western Australia and Pakistan. The company is progressing a portfolio of energy projects in Pakistan, including plans for one of the region’s largest green hydrogen production facilities, while also advancing the Northern Zone Gold Project near Kalgoorlie in Western Australia as it seeks to expand its resource development activities.