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Oracle Coalfields ( (GB:ORCP) ) has shared an announcement.
Oracle Power has received a preliminary heritage survey report for the Northern Zone Gold Project near Kalgoorlie, indicating no heritage sites were identified across the key tenements and that the entire area has been cleared from a heritage perspective. The final heritage report, expected in around four weeks, will support the Mine Development and Closure Plan, a prerequisite for mining activities once the Mining Lease is granted.
The project is being advanced in partnership with Riversgold and under a Right to Mine and Co-Operation Agreement with MEGA Resources, which will fund all development and mining in return for a 50/50 profit share with the joint venture. The heritage clearance significantly de-risks the permitting pathway, allowing Oracle and its partners to progress planned mining and drilling programmes in a strategically important gold district adjacent to Kalgoorlie’s major operations.
Spark’s Take on ORCP Stock
According to Spark, TipRanks’ AI Analyst, 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 ORCP stock, click here.
More about Oracle Coalfields
Oracle Power PLC is an international project developer focused on natural resources, with current activity centred on the Northern Zone Intrusive Hosted Gold Project in Western Australia. The project lies 25 km east of Kalgoorlie and targets porphyry-hosted gold mineralisation within the Canon Shear zone, positioning Oracle within a prolific gold-producing region.
Average Trading Volume: 184,891,740
Technical Sentiment Signal: Buy
Current Market Cap: £9.43M
For detailed information about ORCP stock, go to TipRanks’ Stock Analysis page.