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Oracle Coalfields ( (GB:ORCP) ) has issued an announcement.
Oracle Power has begun geotechnical diamond drilling at its Northern Zone gold project, located 25km east of Kalgoorlie, as it progresses the asset towards a Mine Development and Closure Plan. The programme, comprising four holes to depths of around 100–150 metres, aims to collect whole-core samples from the porphyry-hosted deposit to analyse rock strength and structural data critical for pit slope stability and final pit design.
Data from laboratory tests, including unconfined compressive strength and direct shear analyses, will underpin optimised pit slope design and ongoing mine planning studies that support mine development. The work comes as conversion of the Northern Zone tenement to a mining lease nears completion and, together with MEGA’s commitment to fund development on a profit-share basis, is expected to strengthen long-term project tenure and de-risk the pathway to potential production for Oracle and its partners.
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 advancing the Northern Zone gold project near Kalgoorlie in Western Australia. The company is working alongside Riversgold Limited and funding partner MEGA Resources, which has agreed to provide development and mining capital for Northern Zone on a 50/50 profit-share basis.
Average Trading Volume: 178,091,487
Technical Sentiment Signal: Hold
Current Market Cap: £7.78M
Find detailed analytics on ORCP stock on TipRanks’ Stock Analysis page.