REG - Oracle Power PLC - Q4 2024 Overview and Shareholder Q&A

Oracle PowerAnnouncement

14/01/2025 07:00

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RNS Number : 1544T  Oracle Power PLC  14 January 2025

14 January 2025

Oracle Power PLC

("Oracle" or the "Company")

 

Q4 2024 Overview and Shareholder Q&A

 

Oracle Power PLC (AIM: ORCP), an international project developer, is pleased
to provide the following update in respect of its activities during Q4 2024 as
it progresses the development of its project portfolio across Western
Australia and Pakistan.

 

Green Hydrogen and Renewable Power Project, Pakistan

·    Ongoing work towards advancing proposed 1.3 GW hybrid renewable power
facility.

·    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.

o  This is expected to enable a detailed front-end engineering design (FEED)
study in the next phase.

o  Provides a solid foundation for securing potential power off-take
agreements.

·    Advanced discussions with various state-owned companies regarding
potential equity investments and joint development opportunities in the
project.

 

Northern Zone Intrusive Hosted Gold Project ("Northern Zone"), Australia

·    Completed 1,545m drill programme in November, bringing the total
drilled in 2024 to 8,971m of air core (AC) drilling and 1,363m of reverse
circulation (RC) drilling.

·    Further expanded the continuation of the high-grade oxide zone within
the 600m wide porphyry system, which is open in multiple directions.

·    Integrated drill results into an updated Leapfrog gold mineralisation
model, which will be used to inform and guide future drilling campaigns.

·    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 Project ("Blue Rock"), Australia

·    Confirmed multiple gravity targets for follow up work along the main
mineralised trend of approximately 2km strike.

·    Appointed APEX Geoscience Ltd, a geochemical consultant, to advance
exploration and refine drill targets, with a geochemical sampling programme
expected to start shortly.

·    Continued assessment for potential gold and uranium mineralisation.

 

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).

 

Corporate

·    The CEO attended the 4th Global Energy Week 2024 at the House of
Lords in London in October 2024, an event that brings together key players in
the energy industry;

·    Raised gross proceeds of £150,000 by way of a subscription through a
single investor in November;

·    Raised proceeds of £416,667 through the exercise of warrants in
December to support further development of the Company's portfolio.

Naheed Memon, CEO of Oracle, commented: "I'm pleased to report that the final
quarter of 2024 marked a period of continued progress for Oracle. At the
Northern Zone and Blue Rock Valley projects, we achieved encouraging results
that underscore their potential. The notable gold intersections at Northern
Zone highlight the prospects of this project as we continue to expand the
prospective gold system. Meanwhile, the high-grade copper assays at Blue Rock
reinforce our confidence in the future value of this asset.

 

"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."

 

A shareholder Q&A session will be published on the Company's website later
in the month. To submit questions, please email oracle@stbridespartners.co.uk
(mailto:oracle@stbridespartners.co.uk) with "Q4 2024 Shareholder Q&A" in
the subject line; the deadline for submission of questions is 5pm on Tuesday
21( )January 2025.

 

*ENDS*

 

For further information visit www.oraclepower.co.uk
(http://www.oraclepower.co.uk/) or contact:

 

 Oracle Power PLC                                        +44 (0) 203 580 4314

 Naheed Memon - CEO
 Strand Hanson Limited (Nominated Adviser & Broker)      +44 (0) 20 7409 3494

 Rory Murphy, Matthew Chandler, Rob Patrick
 St Brides Partners Limited (Financial PR)               +44 (0) 20 7236 1177

 Susie Geliher, Isabel de Salis

 

 

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