Oracle Power (ORCP) Q2 2024 TU earnings summary

Executive summary

• Advanced drilling at the Northern Zone gold project in Australia, confirming high-grade gold intercepts and expanding the mineralised footprint.

• Completed acquisition of 100% interest in Blue Rock Valley Copper and Silver Project, with assays confirming high-grade copper mineralisation.

• Progressed the green hydrogen and renewable power project in Pakistan, securing key environmental approvals and extending the Letter of Intent validity.

• Raised £300,000 through equity subscription to fund project development and working capital.

• Appointed a new Non-Executive Director with significant mining and financial sector experience.

Segment performance

• Northern Zone: Completed RC and AC drilling, expanding the gold system's footprint and confirming significant mineralisation; further drilling underway.

• Blue Rock: Initiated on-site assessments, confirmed high-grade copper samples, and planning further geophysical surveys and drilling.

• Green Hydrogen Project: Completed ESIA, received NOC for 1.3 GW plant, and advanced grid interconnection studies.

Significant events and developments

• Secured environmental and regulatory approvals for the Pakistan renewable energy project.

• Acquisition of Blue Rock Valley Copper and Silver Project completed.

• Appointment of Emma Priestley as Non-Executive Director post period end.