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Pin to quick picksOracle Power Share News (ORCP)

Share Price Information for Oracle Power (ORCP)

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IN BRIEF: Oracle Power progresses in Australia amid delay in Pakistan

Tue, 13th Jul 2021 12:57

Oracle Power PLC - coal resource developer with assets in Australia and Pakistan - Says activity has intensified over the past three months at its Northern Zone and Jundee East gold projects in Western Australia. Continues geochemical testing programme at Jundee East in second quarter after receiving "extremely encouraging results" to date. Anticipates the start of drilling in the at Northern Zone within weeks.

The shift in attention to Australia comes as Oracle notes a "frustrating delay" at Thar Block VI project in Pakistan. The company awaits receipt of the Private Power & Infrastructure Board's letter of intent, which was expected a year ago. Says the delay is partially due to Covid-19 and the changing energy "landscape" in Pakistan regarding coal. Adds, that there is a "great deal of political sensitivity" around its Pakistan power project.

"We continue to evaluate a number of other opportunities globally to enhance our asset portfolio but in the near-term, we are looking forward to a highly active second half of the year with our maiden drilling campaign at Northern Zone due to commence in late July or August, and then drilling expected at Jundee East thereafter...Similarly, we will continue to keep shareholders abreast of major developments in Pakistan as we work with the authorities in the rationalisation of the power generation plan for the country, promoting Thar Block VI as an exceptionally large and attractive source of domestic power for decades to come," says Chief Executive Naheed Memon.

Current stock price: 0.45 pence, down 6.0% on Tuesday afternoon

Year-to-date change: down 16%

By Scarlett Butler; scarlettbutler@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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15 Jan 2024 10:20

Oracle Power optimistic as projects advance in Pakistan and Australia

(Alliance News) - Oracle Power PLC on Monday said that it is nearing and "extending" its goal to build a portfolio of project development opportunities, as a study in Pakistan neared completion.

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11 Jan 2024 19:51

IN BRIEF: Oracle Power says further drilling planned in Australian jv

Oracle Power PLC - Pakistan and Australia-focused natural resources project developer - Updates shareholders on the farm-in by Riversgold Ltd on the Northern Zone Intrusive Hosted Gold Project, in Western Australia. Notes Riversgold has spent AUD273,299 to date on the exploratory works undertaken post farm in agreement. A heritage survey assessment is to be completed shortly and a programme of works is ready to be submitted thereafter. Further drilling is planned to expand the target cross section and advance the project towards a targeted maiden mineral resource estimate in 2024. Explains Riversgold now has the option to withdraw as it has spent in excess of AUD200,000 but is not expected to do so. States the planned POW will move RGL towards the aggregate AUD600,000 expenditure trigger, whereby the intended 80:20 joint venture structure between RGL and Oracle will be activated.

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11 Jan 2024 14:15

Oracle Power partner makes progress with Northern Zone exploration

(Sharecast News) - Oracle Power updated the market on the progress of the farm-in agreement by Riversgold for the Northern Zone intrusive-hosted gold project, 25 kilometres east of Kalgoorlie in Western Australia, on Thursday.

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12 Dec 2023 14:24

IN BRIEF: Gold intercepts found at Northern Zone project, says Oracle

Oracle Power PLC - Texas-based computer technology firm - Says farm-in partner Riversgold Ltd receives assay results from diamond drilling programme at the Northern Zone gold project in Western Australia. Says 5.26 grams of gold per tonne from 262 metres found. Chief Executive Officer Naheed Memon says: "With the Australian dollar gold price now pushing through AUD3,100 an ounce, the commerciality of these types of large-scale lower grade gold deposits becomes significantly more viable. The potential scale of this project linked to its good indicative conventional gold recoveries and its great location, being so close to Kalgoorlie, makes Northern Zone a highly attractive project to drill out."

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20 Oct 2023 09:46

IN BRIEF: Oracle Power hails green hydrogen project progress

Oracle Power PLC - Pakistan and Australia-focused natural resources project developer - Progresses towards commercial viability of its green hydrogen project in Pakistan. Notes completion of 28 kilometres squared topography survey report using advanced drone technology to gather vital mapping data, adding that it revealed no significant obstructions to the development of the green hydrogen project. Says survey's findings will play a "crucial role" in "optimising the planning, design and construction costs for the proposed future 1.2 [gigawatt] hybrid wind and solar plants, along with the intended 400 [megawatt] green hydrogen facility." Says that it now aims for firm offtake agreements with partners and front-end engineering and design work for the planned plant.

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16 Oct 2023 15:46

UK shareholder meetings calendar - next 7 days

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4 Oct 2023 10:43

AIM WINNERS & LOSERS: Oracle Power raises funds at steep discount

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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4 Oct 2023 10:42

IN BRIEF: Oracle Power shares plunge on fundraise for hydrogen project

Oracle Power PLC - Pakistan and Australia-focused natural resources project developer - Enters into placing agreement to raise GBP350,000 through the placing of 1.0 billion shares at a price of 0.035 pence each. Notes agreement is conditional on the passing of related resolutions due to be proposed at a general meeting. The proceeds of the placing will primarily be used to support the advancement of the company's green hydrogen project in Pakistan. They will also help provide the company with sufficient working capital to develop its other projects.

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25 Sep 2023 10:18

Oracle Power fist half loss widens on increased overheads

(Alliance News) - Oracle Power PLC on Monday said its loss nearly doubled in the first half as costs rise.

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12 Sep 2023 10:44

AIM WINNERS & LOSERS: Ocean Harvest falls as loss widens

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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12 Sep 2023 10:22

Oracle Power completes feasibility study for green hydrogen project

(Alliance News) - Oracle Power PLC on Tuesday said it completed a technical and commercial feasibility study for its green hydrogen and green ammonia project in Pakistan.

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21 Aug 2023 13:49

Oracle Power reports progress at Northern Zone gold project

(Sharecast News) - International project developer Oracle Power updated the market on the ongoing development of the Northern Zone project by Riversgold on Monday.

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21 Aug 2023 09:51

Oracle Power notes Riversgold completes drilling at Australia project

(Alliance News) - Oracle Power PLC on Monday said that Riversgold Ltd completed its maiden diamond drilling programme at the Northern Zone gold project in Western Australia.

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28 Jul 2023 14:19

IN BRIEF: Oracle Power notes successful survey at green hydrogen plant

Oracle Power PLC - Pakistan-focused energy projects developer - Successfully raises GBP363,000 gross in June via a placing of shares at 0.1p. Says net proceeds will be used to advance its green hydrogen project in Sindh, Pakistan. Adds survey at green hydrogen project has revealed no obstructions, noting that the second quarter of the year has been "extremely productive."

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19 Jul 2023 14:36

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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