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Oracle Coalfields ( (GB:ORCP) ) has shared an update.
Oracle Power PLC and its joint venture partner Riversgold have signed a Deed for Grant of Mining Tenement and a Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group, covering key tenements at the Kalgoorlie Gold Project’s Northern Zone and surrounding areas. The agreements establish protocols for heritage surveys, cultural site protection and streamlined mining lease and clearance procedures, clearing a major regulatory and social milestone toward converting the ground to a mining lease and targeting first gold production at Northern Zone in 2026. In parallel, Oracle and Riversgold have confirmed a Right to Mine and Co-Operation Agreement under which MEGA Resources will fund 100% of development, mining, haulage and processing costs at Northern Zone in exchange for a 50/50 profit share with the project owners, leaving the existing ownership structure unchanged at Riversgold 80% and Oracle 20%.
More about Oracle Coalfields
Oracle Power PLC is an international project developer listed on AIM, focused on advancing resource and energy projects, including its interest in the Northern Zone Gold Project near Kalgoorlie in Western Australia, in partnership with Riversgold Limited.
Average Trading Volume: 829,310,002
Technical Sentiment Signal: Hold
Current Market Cap: £6.29M
For a thorough assessment of ORCP stock, go to TipRanks’ Stock Analysis page.