Member Info for mrsas

Loss for the year after taxation of £570K = £47500 / month

During the last year, the Company's main focus has been in Australia

Mining Lease, which is expected to be granted imminently.

Anticipate first gold production during the second half of 2026

Cash at the end of 2026

Oracle Power PLC reported £697,085 in cash and cash equivalents at end of 2025 = 14 and 2/3rd months at £47500 / month

So they have about 9 months left of cash at current rate.

it’s not switching arguments – it’s called adapting to reality.

when gold was $1,800 and nz was unfunded, thar and other project were priority.

now gold is $4,700+, mega is paying for nz, and ****stan is desperate for domestic coal.

so the optimal path changes.

you can:

sell thar at a better price once nz cash flow proves credibility.

keep it on ice while gold prints money, then develop it without dilution.

let a partner pay for it while oracle takes a royalty.

those aren’t contradictions – they’re options. a rigid plan is what gets small caps killed. being opportunistic is what keeps them alive.

the laughable thing would be sticking to one narrative no matter how the world changes.

Re: your quotes

Backburner? Since Sept 2025, Oracle has put out 8+ updates on Northern Zone.

How many on Thar or hydrogen? Zero. That's a backburner.

"No RNS says projects on hold" – they don't need to say it. The news flow does the talking.

Projects should still be advanced in parallel. Desk‑based work should advance with Thar and hydrogen, not a drain on the balance sheet.

Northern Zone is fully funded by MEGA, so it's not consuming Oracle's cash either.

Currently real drain isn't the projects themselves – it's the corporate overhead.

So yes, they can keep ticking things over without burning millions

Facts are facts. Check the RNS feed yourself.

sorry, but you're using old news to judge the current position.

the facts now:

northern zone appears to be the sole focus. not coal. not hydrogen. but gold.

mega pays 100% of development and mining costs. oracle's stake is free‑carried. zero cash calls for the gold project.

heritage clearance is done. mining lease is "well advanced" – company says weeks, not years.

drill results are exceptional. 71 g/t, 8m at 9.90 g/t, 15m at 5.62 g/t. that's not speculation – that's data.

thar and hydrogen appear to have been parked. they're not burning cash today. the company does not appear to be allocating funding to other projects.

so your argument about "running multiple international projects with no cash" is outdated. that does not appear to be current focus.

as for the mining lease – yes, it's not granted yet. could it be delayed again? possibly. that's a risk. but the company has cleared every regulatory hurdle so far. native title signed. objections resolved. heritage cleared. the only thing left is paperwork.

more raises before revenue? finals due in late june, we will be able to get an indication on what cash has been used how long they can go before raise, if needed.

your criticism applies to the old oracle. judge the company on what it's doing now, not the past.

the facts today say they're involved in a disciplined, fully funded gold project.

the geopolitical landscape could be changing in their favour.

the middle east crisis is reshaping ****stan's entire energy calculus, and oracle's thar asset is sitting right in the middle of it.

the strait of hormuz is effectively choked. ****stan gets roughly two-thirds of its lng and a huge chunk of its oil through that narrow waterway. with shipments disrupted and prices spiking, the country has been forced into a full-scale pivot toward domestic energy. thar coal is now being called ****stan's "single most strategic asset" – not just rhetoric, but a national security imperative.

the numbers back it up. thar already generates 2,640 mw from blocks i and ii, and officials are scrambling to expand capacity. the government is actively converting imported-coal plants to run on thar lignite. they're building a dedicated railway to move the coal out of the desert. block ii is expanding to 11.2 million tonnes per year. this isn't talk – it's happening right now.

where does oracle's block vi fit? it's one of the last undeveloped blocks with cpec status, sitting on the same fuel that ****stan now desperately needs. the macro environment has never been more favourable.

for me the current order of operations hasn't changed: gold first, then focus on other projects.

let gold production build the balance sheet. then develop thar from a position of strength, or sell it when the asset is worth maximum value.

re: that q2 2024 interview – a different perspective

i hear what you're saying, she sounded uncomfortable. but listen to what she was actually saying, not just how she said it.

she was being pressed on timelines for ****stani coal and hydrogen – projects that were always going to take years, dependent on government approvals and financing. her answers weren't "scripted". they were honest: we need buy‑back agreements, we need partners, we can't build this alone. that's just reality for a small aim company.

but here's the thing – she also kept coming back to one core idea: we need one project to become cash generative. that's the key.

"as soon as one of our projects – and the northern zone project, for example, is very close to now reaching that end ... that would immediately translate to realising higher value for ourselves and for all shareholders."

that's exactly what's happening.

since that interview, oracle has:

pivoted hard into a fully funded gold project (mega deal)

delivered high‑grade drill results including 71g/t over 1m and 8m at 9.90g/t

cleared heritage, progressed the mining lease, and is weeks away from the final permit.

she had a vision then, and it's starting to come together now.

it made sense to put the coal and hydrogen projects on the backburner. they were always longer‑dated options – years away from revenue and hungry for capital. why burn cash on them now when all resources can go into getting northern zone over the line first? once gold is delivering profit, those other projects can be picked up again without dilution or desperation. that's just sensible capital allocation.

the strategy was to get something across the line first, and that something is northern zone. gold at $4,700/oz, funded by mega, free‑carried for oracle. that's not "no progress". that's execution.

this could be the start of the snowball. one project succeeds, then another. northern zone could be life‑changing for early holders. and if thar or hydrogen follow – that's generational.

she was honest, she was under pressure, and she didn't give false promises. but she laid out the blueprint. now we're watching it being built.

on thar – things have changed completely.

yes, naheed said a year ago they were looking to sell thar. that was before mega funded northern zone. back then, oracle needed cash. now? northern zone is fully funded and advancing toward production this year. once gold cash flow starts, oracle no longer needs a fire sale. they can sit tight, develop thar using gold profits, or wait for a buyer who has to pay a fair price.

and the macro environment for thar has shifted dramatically. middle east turmoil has choked imported fuel supplies – ****stan gets ~80% of its energy through the strait of hormuz. the government is now pushing thar coal harder than ever as a strategic domestic resource. a dawn article last month quoted industry leaders calling to "harness thar coal to mitigate reliance on imported fuels." the power division launched reforms in early april to cut costs and boost efficiency. thar is back on the agenda – not because oracle announced anything, but because ****stan has no choice.

so no fresh oracle news on thar? that's fine. the asset is now an option, not a liability. northern zone is the engine. once it's producing, thar becomes a completely different conversation.

patience. the lease will land, the drills will keep turning, and the cash flow will follow.

I get the frustration. Waiting on bureaucratic paperwork can be maddening, especially when the market is laser-focused on the Mining Lease.

However, I think you're missing the most important signal right now. The delay is frustrating, but the ground truth tells a completely different story from the "still some way to go" narrative. They are not waiting on the government; they are moving forward regardless.

MEGA is already paying to drill. The geotechnical diamond drilling program that started this week isn't free. A mining contractor of MEGA's scale doesn't sink even a hundred grand into the ground if they aren't absolutely certain the lease is coming. They are doing the detailed engineering required for a Mine Development and Closure Plan (MDCP) before the ink is dry. That's not a company hoping for the best; it's a company preparing to fire on all cylinders the moment the final green light is given.

The paperwork is almost done. The first critical step—the heritage clearance. That report is now feeding directly into the MDCP application. You don't clear heritage unless you are at the final desk.

"Continue to advance" sounds slow, but in reality, it signals a project that is clearing its final hurdles and moving into the execution phase. The MDCP is the final operational blueprint; once it is submitted and approved, the path is clear. MEGA funding that work now shows confidence in project.

The lease will be granted. The frustration with the timeline is understandable, but the confidence from MEGA should outweigh that concern.

Re: Another bloodbath for stocks today and soon will be Oracle if they can't deliver the gold

The cash concern is valid—any pre-revenue junior has to answer this. Let's look at the numbers with all the moving parts included.

First, the cash position needs context

At 30 June 2025, Oracle reported cash of £557,986, with a half-year administrative burn of approximately £281,000 . The August 2025 £500,000 raise added runway.

The warrant situation needs to be factored in correctly

At 30 June 2025, there were 113,544,706 warrants outstanding at 0.07p . In October 2025, 107,142,857 of those were exercised at an amended price of 0.05467p, adding £58,575 to the treasury.

Simple math gives them breathing space into late 2026 to Mid 2027 dependent on cash burn.

The bigger picture: Who's actually funding the gold project?

This is the part that changes the usual junior mining cash calculus. Under the MEGA Resources agreement, MEGA pays 100% of all development and mining costs at Northern Zone . Not Oracle. So:

Every geotech drill hole, water bore, environmental survey—MEGA's cost

The path to production doesn't burn Oracle's cash

Oracle's cash is for corporate overhead, not mine development

Are they on track?

The work program is visible and funded:

January 2026 drill results: 8m @ 5.81 g/t, 7m @ 3.48 g/t

Mining lease "well advanced," expected weeks away

Geotech, water bore, environmental work all underway (MEGA-funded)

Native title signed December 2025—regulatory path cleared

CEO maintains H2 2026 production target. Could it slip? Possibly—mining timelines always can. But the funding risk to get there has been engineered out.

The other projects

If it comes to preserving cash, Thar and Green Hydrogen sit on the back burner until gold revenue flows. That's just sensible capital allocation. The market isn't pricing them yet anyway.

Bottom line

The cash concern is rational, but the difference between Oracle currently and a typical cash-burning junior is that their main asset is fully funded by a partner already spending money on the ground. Income by late 2026 is the target, and the pieces are moving that direction. If delays happen, they'll raise—but they'll be raising with a Mining Lease in hand and a funded partner in place. That's a stronger position than most.

The real story is operational progress, not just the bank balance.

Stepping back from the noise, the last 48 hours have quietly locked in everything a project needs before mining starts.

Oracle's update yesterday confirmed real on‑ground progress: 31 new drill holes completed, 1,475 samples submitted, and critical MDCP work underway with MEGA Resources. That includes geotechnical drilling for pit stability, a water bore already tested, flora/fauna surveys, ore characterisation, and topsoil analysis. All essential steps. All funded by MEGA. And critically, the mining lease is now "well advanced" – expected in weeks.

Then today Riversgold drops its own update. Tenement footprint expanded 820% to 6.75km² – more than enough space for waste dumps, processing infrastructure, and offices. The mining lease timeline reiterated. The MEGA deal front and centre: 100% funding, 50/50 profit share. And Oracle explicitly named as a partner who benefits from all of this.

So what's actually in place now?

Land for large‑scale mining – ✅ 6.75km² secured.

Mining permit – ✅ weeks away.

Development funding – ✅ MEGA, at their risk.

Oracle's stake – ✅ Free‑carried, zero cost.

Production timeline – ✅ H2 2026, with MDCP work confirming the path.

This isn't an exploration story any more.

It's shovel‑ready development.

MEGA wouldn't be spending hundreds of thousands on geotech, water bores, and environmental studies if the numbers didn't work. They've done their homework.

The market may still be asleep, but the foundational pieces are now locked in.

At $5,000 gold, with zero cost to Oracle and production targeted this year, the asymmetry speaks for itself.

DYOR – this is just my read of the announcements.

Timeline vs. Cash: The Key Distinction

You've asked the million-dollar question: Will Oracle have cash to last 2 years in an optimistic operational scenario?

Here's the thing—the company's own guidance suggests we're not looking at a 2-year wait for revenue.

The Official Timeline:

- H1 2026 target for start of mining – Multiple RNS confirm this

- Mining Lease – Final objections cleared Feb 2026, formal grant imminent

- Native Title Agreements – Signed Dec 2025, major hurdle cleared

- Drilling – Ongoing, feeding into mine planning NOW

The Fully Funded Structure (Crucial Point):

MEGA Resources is funding 100% of development and mining costs at Northern Zone .

What does this mean for Oracle's cash?

- Oracle pays zero toward mining, processing, haulage

- Oracle's cash burn remains corporate overhead only (~£45-60k/month)

So back to your question:

If mining starts H1 2026, revenue in 2026 is highly probable—not 2-3 years away. The cash runway isn't designed to fund operations for years; it's designed to keep the lights on until the JV structure delivers.

The realistic risk isn't "can they survive 2 years of pre-revenue?" It's "does the mining start on schedule?"

If it slips? They've still got runway into 2027. If it hits? Cash question becomes moot.

Good discussion.

Not advice. DYOR.

Interesting post. Thanks for laying out the bear case. Always good to have balance.

I’m trying to square some of your numbers with the recent RNSs. If we have the cash runway wrong, it changes the urgency of a raise. A few questions if you don't mind:

1. The £200k cash figure?

You say they have about £200k left as of Feb 2026.

The Jun '25 interims showed £558k cash.

Since then: £500k raise (Aug) + £58k warrants (Oct).

That's over £1.1M total since June.

Admin costs for 6m were ~£280k.

Even after burning that, they'd be left with a lot more than £200k.

What costs am I missing that takes the balance down to £200k so fast?

2. The urgency to raise?

You say a raise is urgent.

With £1.1M in the bank and a monthly burn of £45k-£60k...

...that gives them until late 2026 or mid-2027.

The big catalyst (Northern Zone mining lease) should land before that.

If they have 12-18 months of cash, why is a raise urgent before that permit drops?

3. Funding the $1.6bn projects?

You are right—10% of Northern Zone (£60M best case) doesn't pay for a $1.6bn coal plant.

But does Oracle actually have to write a cheque for that full amount right now?

Aren't these massive projects usually funded by JV partners, govt deals, or project finance?

Is there an RNS saying Oracle has to fund the $1.6bn themselves immediately, or is that liability further down the road/dilutable?

Genuinely curious where the numbers come from. Cheers.

Not financial advice. DYOR.

When are you expecting them to do a fund raise?

From Interim Results for the 6 months to 30 June 2025

(Unaudited) 6 Months to 30 June 2025 LOSS FOR THE PERIOD Loss for period £267,715 Monthly burn £44619.16667

(Unaudited) 6 Months to 30 June 2024 LOSS FOR THE PERIOD Loss for period £264,942 Monthly burn 44157

(Audited) Year ended 31 Dec 2024 LOSS FOR THE PERIOD Loss for period £711,875 Monthly burn 59322.91667

CASH AND CASH EQUIVALENTS

(Unaudited) 6 Months to 30 June 2025 £557,986

Placing to Raise £500,000 14 Aug 2025 £500,000

Exercise of Warrants 2nd Oct 2025 £58,575

Total Cash = 1,116,561

At £60000 cash burn per month 18.60935 months

At £45000 cash burn per month 24.81246667 months

So from 30 June 2025 they have cash for about 18 months (late 2026) at £60000 per month and 24 months (Mid 2027) at £45,000 per month.

Will they need to raise funds before Northern Zone - Permitting - Mining Lease Grant?

For me this is the single biggest de-risking event. It proves the project can proceed to mining and allows Mega Resources to start work. It would be a company-transforming announcement.

This is likely to be a Bed and SIPP transaction. £40,000 max pension allowance for new tax year.
Suggests some has confidence in this share.

Below link has a podcast with Tom Kelly & Gaz Bisht talking about drilling of Jade Prospect, other nearby producing oil fields, fill to spill, and bit at the end about Mako.

https://www.share-talk.com/tom-kelly-ceo-director-gaz-bisht-executive-director-china-of-empyrean-energy-plc-eme-l-interview/#gs.uh8tp2

Have a look at below link from 2018.

https://www.energy-pedia.com/news/china/empyrean-energy-completes-oil-migration-study-for-block-29-11--offshore-china-173898

Diagram show other discoveries near block.

It appears there are many greedy LTH that cant sit on their hands, like myself, and keep buying into the dip.
Time will tell if it works out for us dreamers.
Good luck to Gaz and Tom as I expect it is not easy doing this in the current climate.

May be worth watching Gaz Bisht's interview with Proactive's Andrew Scott from August to see where today's RNS fits in with plans.

Empyrean Energy maps out path to spudding of 'world-class' Jade prospect

https://www.youtube.com/watch?v=_3f_IXaXXjM

If the short link does not work, below is the full link.

https://www.alignresearch.co.uk/wp-content/uploads/2020/12/Coro_Energy_Align_Initiation_of_Coverage_December_2020.pdf

From
alignresearch

For those trying to value Duyung.

Below will be worth reading again.

shorturl.at/iAHIS

It is an old (17th December 2020) research note for Coro but has a lot of Duyung info.

Remember, it is old and unlikely to account for current significant increase in gas prices.

Spudton the breakeven point for the warrant holders if they have not sold their original shares.

2 shares at 6p = 12p
1 share at 12p = 12p
Hence, 3 shares at 24p

Break even would be 8p per share.

Hence, I would expect more warrants to be exercised.