RE: These 10 million red block are what? sell or buy???3 Oct 2025 09:48
Do new holders understand the agreement between Riversgold and Oracle? The agreement there split 80/20 the 80 to Riversgold and is dependent on getting a mining license for the project and the date as in RNS is end of December. Now there is no surety that the Western Australia authorities will grant it. No licence no agreement it’s that simple. Many hurdles to overcome yet re the deep protracted rules and regulations that are imposed. Remember GEX who this time last year were saying licence by December 24. You need to look at the situation rather than just assume here. Everything’s never as cut and dried or black and white as people and the company make out! And if by miracle they do get it signed off by end of December 25 there’s nothing going on until est early 2026 (could mean Jan-April) as noted by the company and Naheed and DL! IMHO DYOR
Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to announce that further to its announcement of 9 May 2023 regarding the binding Heads of Agreement ("HOA") with ASX-listed Riversgold Limited ("Riversgold"), Riversgold has advised that it has now surpassed the minimum expenditure required to earn up to an 80% beneficial interest in the Northern Zone Project, located 25km east of Kalgoorlie in Western Australia (the "Northern Zone" or the "Project"). As a result, Riversgold has exercised its option to acquire the 80% interest in the Project. Oracle will retain a 20% interest and will receive a free carry until the joint venture agreements are formalised and signed (the "Joint Venture" or "JV"), which is expected by 31 December 2025.