Oracle Power (ORCP) Q4 2024 TU earnings summary

Executive summary

• Advanced the 1.3 GW hybrid renewable power project in Pakistan, completing a key grid interconnection study and progressing toward detailed engineering design.

• Expanded drilling and exploration at the Northern Zone gold project in Australia, with significant high-grade oxide zone extensions and a mining lease application submitted.

• Identified new gravity targets and initiated geochemical sampling at the Blue Rock Valley copper and silver project, with ongoing assessment for gold and uranium.

• Board intends to divest, wholly or partially, mining interests in Thar Block VI to focus on clean energy initiatives.

Significant events and developments

• Completed Transmission & Grid Interconnection Study for the Pakistan renewable project, enabling the next phase of engineering and potential power off-take agreements.

• Engaged in advanced discussions with state-owned companies for equity investment and joint development in the green hydrogen project.

• Completed 1,545m of drilling at Northern Zone in Q4, totaling 8,971m AC and 1,363m RC drilling for 2024.

• Submitted Mining Lease application for Northern Zone, with approval expected in 2025.

• Raised £150,000 via subscription and £416,667 through warrant exercises in Q4 to support project development.

Outlook and guidance

• Plans to undertake further drilling at Northern Zone during the mining lease application period, aiming for a maiden Mineral Resource Estimate.

• Green hydrogen project expected to be a regional cornerstone, with growing interest from state-owned entities.

• Continued focus on advancing coal-to-power and coal-to-gas/liquid projects under CPEC status.