- Oracle Power’s interim losses narrow as it continues to develop projects in Australia and Pakistan
- Oracle Power’s Thar project could double in size, with the potential addition of a gas-to-urea capability
- Oracle Power is granted the exploration tenement for Jundee East Gold Project
Quick facts: Oracle Power PLC
Oracle Power is an international power and natural resource project developer listed on London’s AIM market.
In November 2020, Oracle added diversification with the acquisition of gold projects in Australia where subsequent work has provide excitement, new catalysts and the prospect of discoveries in the same neighbourhood as some major mining operations.
The company remains focussed on delivering reliable and affordable power in emerging developing markets, unlocking the value of underutilised and undeveloped natural resources to provide energy security and support economic growth and development.
21 Sep 2021
() saw its interim losses narrow as it continued to focus on developing its natural resource projects in Australia and Pakistan.
The AIM-traded developer said its losses shrank to GBP301,971 for the six months to end June from GBP364,300 in the year-earlier period. The company, which has no revenue, ended the period with cash and cash equivalents of GBP975,820.
Oracle is a multi-project company with two gold tenements in Western Australia and the Thar coal project in Pakistan.
“Whilst global conditions remain uncertain, Oracle’s projects in Pakistan and Australia are focused on the development of assets which provide a hedge against economic insecurity,” said chief executive Naheed Memon.
15 Sep 2021
() announced it started drilling at the Northern Zone Gold Project, located near Kalgoorlie in Western Australia.
The first phase is to complete seven reverse circulation drillholes up to 260 metres deep, for a total of around 1,500 metres specifically targeting gold mineralisation within a series of stacked porphyry intrusions.
31 Aug 2021
() said it has defined five drill target areas at its Jundee East gold project in the Eastern Goldfields region of Western Australia.
The target areas were defined after an expanded geochemical soil sampling programme highlighted positive responses for copper and gold.
03 Dec 2020
The scope of the energy development projects that are likely to be undertaken by () in Pakistan could be about to get significantly larger, if a plan to augment the existing coal-to-power offering with a coal-to-gas and urea project comes to fruition.
Exactly when or how such a development in Oracle’s plans comes to be formalised remains to be seen, as there has been a certain amount of bureaucratic flux in Pakistan lately, as the coronavirus crisis has had a deepening impact on the economy there.
24 May 2021
Oracle Power’s () CEO Naheed Memon joins Proactive London with the news that the exploration tenement has been granted for their Jundee East Gold Project.
The project now has a whole new team of geologists on the ground preparing to get to work at the site, which is located in the Eastern Goldfields region of Western Australia.
Memon says ‘it’s all moving forwards now’.
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