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Oracle Coalfields ( (GB:ORCP) ) has shared an announcement.
Oracle Power PLC has advanced development of its Northern Zone gold project near Kalgoorlie, completing 31 shallow drill holes totalling 2,013 metres between the central and eastern mineralised zones and submitting 1,475 samples for assay. The latest campaign targets a largely untested area, with results due in the coming weeks and geological models to be updated as data is received.
The company is also progressing its Mine Development and Closure Plan and related environmental studies, including geotechnical drilling, water bore completion, flora and fauna surveys, and ore and topsoil characterisation. With all objections to the Northern Zone Mining Lease resolved and grant expected shortly, Oracle aims to commence gold mining later this year under its funding and profit-share agreement with MEGA Resources, marking a key step towards near-term production and cash flow.
The most recent analyst rating on (GB:ORCP) stock is a Hold with a £0.06 price target. To see the full list of analyst forecasts on Oracle Coalfields stock, see the GB:ORCP Stock Forecast page.
Spark’s Take on GB:ORCP Stock
According to Spark, TipRanks’ AI Analyst, GB:ORCP is a Neutral.
The score is held down primarily by the lack of revenue, continued losses, and negative cash flow implying ongoing reliance on external funding. Technicals provide some support via a strong uptrend, but overbought momentum (high RSI) and high volatility increase pullback risk; valuation is constrained by negative earnings and no dividend data.
To see Spark’s full report on GB:ORCP stock, click here.
More about Oracle Coalfields
Oracle Power PLC is an international project developer focused on natural resources, with a significant presence in Western Australia’s gold sector through its Kalgoorlie Gold Project. The company is advancing the Northern Zone intrusive-hosted gold deposit, working with joint venture partner MEGA Resources, which will fund development and mining on a 50/50 profit-share basis.
Average Trading Volume: 298,420,305
Technical Sentiment Signal: Buy
Current Market Cap: £9.43M
Learn more about ORCP stock on TipRanks’ Stock Analysis page.