RE: Projects6 Feb 2025 14:10
Green Hydrogen Project:
Completed the Transmission & Grid Interconnection Study funded by State Grid China and submitted it to the National Transmission and Dispatch Company for review and approval by the Pakistan Government.
Northern Zone:
Submitted a Mining Lease (M25/389) application to the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS), which is expected for approval during 2025.
· During the Mining Lease application period, the Company intends to focus on undertaking more drilling to advance the project before proceeding with a maiden Mineral Resource Estimate.
Blue Rock Valley copper and Silver:
Appointed APEX Geoscience Ltd, a geochemical consultant, to advance exploration and refine drill targets, with a geochemical sampling programme expected to start shortly.
Thar Block VI
In line with Oracle's heightened focus on clean energy initiatives in Pakistan, the Board intends to divest, wholly or partially, its mining interests and is engaged in discussions to that end.
· The Company aims to advance its coal-to-power and coal-to-gas/liquid plans under its project status within the China Pakistan Economic Corridor (CPEC).
"We also remain committed to developing our flagship Green Hydrogen and Renewable Power Project in Pakistan, which made significant strides in 2024. With a planned 1.3 GW hybrid renewable power facility incorporating solar, wind, and battery storage, the project is designed to be a cornerstone of green hydrogen production in the region and is gaining notable traction with interest from several state-owned companies."