Oracle Power Advances Kalgoorlie Gold Project Permitting with Favorable Geotechnical and Environmental Study Outcomes

Location and Development Strategy for Oracle Power's Kalgoorlie Gold Project

Oracle Power PLC is advancing the Kalgoorlie Gold Project, a greenfield mining venture located 25 kilometres east of Kalgoorlie town centre in Western Australia. The site is near established mining infrastructure including the Kalgoorlie Super Pit and the Golden Mile mining district, positioning it within one of Australia’s richest gold-producing regions. Oracle Power’s business model focuses on advancing exploration and development assets through regulatory approvals and operational readiness to create value via asset monetisation or mining operations.

The company’s approach includes thorough environmental and technical assessments to secure all required statutory approvals before initiating open pit mining. This phased permitting process, standard in Western Australia, involves separate applications for native vegetation clearing, mine development and closure planning, and ultimately an operating licence. Oracle Power has engaged Resources WA, specialist mining consultants, to manage these technical studies, leveraging external expertise to navigate Western Australia’s regulatory framework and ensure compliance with mining and environmental laws.

Soil and Waste Rock Analysis Confirms Low Acid Mine Drainage Potential

The soil and waste rock characterisation, a key part of the Mine Development and Closure Plan, found that waste rock from the proposed open pit is predominantly non-acid forming (NAF) with strong acid-neutralising capacity. This is critical as acid mine drainage (AMD) is a major long-term environmental risk in metalliferous mining, potentially harming surface and groundwater quality for decades or longer post-mining. The assessment highlighted low sulphur content and elevated pH values across waste rock, indicating minimal potential for acid generation.

Furthermore, geological drillhole log reviews revealed no mineralogical or alteration features linked to fibrous minerals, suggesting a low chance of asbestos-type fibrous material presence. This eliminates occupational health risks and regulatory challenges related to fibrous mineral handling. The low AMD risk classification benefits permitting by reducing the need for extensive long-term water treatment infrastructure and ongoing environmental monitoring, which typically extend beyond mine life. These findings bolster the regulatory case by showing acid generation and geochemical risks can be managed with standard industry practices.

Geotechnical Stability of Waste Dumps and Pit Slopes Confirmed with High Safety Margins

Geotechnical assessments validate the stability of waste dump designs and pit slope configurations for the Kalgoorlie Gold Project. Waste dump stability analyses at a global scale demonstrate the design achieves high safety factors with very low failure probabilities, ensuring engineered waste rock stockpile slopes remain stable during normal operations and extreme weather. This is vital to prevent catastrophic consequences such as loss of life, environmental damage, operational halts, and financial liabilities.

Pit slope designs have been validated at bench scale and overall inter-ramp scale, all exceeding safety factors of 1.33. Industry standards require a minimum of 1.3 for competent rock slopes, so these results indicate robust engineering. The pit configuration is geotechnically stable and suitable for current site conditions. These positive outcomes reduce operational risk and support regulatory approval by demonstrating safe mine operation without costly engineering modifications.

Hydrogeological Study Shows Low Groundwater Impact on Mining Operations

Hydrogeological investigations reveal the groundwater table lies approximately 37 metres below surface with low permeability, indicating limited water flow through rock and soil layers. This suggests groundwater inflows are unlikely to pose significant operational or geotechnical risks. This is important as uncontrolled groundwater can hinder mining productivity, increase pumping costs, and complicate slope stability calculations.

Flood modelling is underway, with early indications that only minor culvert infrastructure may be needed on access routes. This implies surface water and flooding risks can be managed with conventional engineering rather than costly water management systems. The combination of deep groundwater, low permeability, and minimal flood risk suggests water management will be straightforward and cost-effective, reducing operational uncertainty and long-term environmental obligations, thereby enhancing the project’s financial and regulatory profile.

Native Vegetation Clearing Permit Application Nears Submission

The Native Vegetation Clearing Permit (NVCP) application, one of two key regulatory submissions before mining can start, is in final preparation and expected to be submitted within weeks after minor outstanding inputs are incorporated. Western Australia’s vegetation clearing laws restrict native vegetation removal to ensure alignment with conservation and environmental goals. Mining requires clearing across the open pit, waste dumps, infrastructure corridors, and operational zones, necessitating formal approval and possibly environmental offsets.

Submitting the NVCP is a significant regulatory milestone. Once submitted, it undergoes assessment by the Department of Biodiversity, Conservation and Attractions, typically taking several months. The imminent submission indicates Resources WA’s work is advanced and no major technical or compliance issues have arisen to delay or block submission. This progress is important for shareholders as it moves the project closer to securing the two critical permits—the NVCP and the Mine Development and Closure Proposal—that enable the operating permit for mining commencement.

Mine Development and Closure Plan on Track for Submission

The Mine Development and Closure Plan (MDCP) is about 60% complete and remains on schedule for submission to the Department of Mines, Petroleum and Exploration (DMPE). The MDCP is a comprehensive technical document outlining mine development, operation, monitoring, closure, and rehabilitation. It integrates specialist reports from Resources WA—including geotechnical, hydrological, soil characterisation, and environmental studies—into a unified framework demonstrating compliance with Western Australian mining regulations and environmental best practices.

The 60% completion indicates foundational technical work is largely finished. Remaining tasks include compiling and refining findings, regulatory compliance checks, and incorporating final specialist inputs. Staying on schedule suggests no significant technical challenges or scope changes have emerged. Submitting the MDCP will be the final major administrative step before the operating permit decision, positioning Oracle Power and shareholders to observe regulatory outcomes in the coming months.

Regulatory Approval Process and Project Timeline Outlook

The Kalgoorlie Gold Project’s regulatory process involves sequential submission and approval of the NVCP and MDCP, followed by issuance of the mining operating licence. Both applications are near completion or final preparation, with the NVCP expected within weeks and the MDCP about 60% complete and on track. Regulatory reviews of both applications may overlap, with the DMPE assessing the MDCP while the vegetation authority reviews the NVCP concurrently.

Approval timelines typically span several months, involving formal assessments, information requests, and decisions. Once both permits are granted, Oracle Power can apply for the final operating licence authorizing mining start. CEO Naheed Memon’s remarks that the company "continues to get much closer to breaking ground" and anticipates further shareholder updates reflect the permitting stage where submissions are imminent but pre-construction activities remain months away. Investors should monitor regulatory timelines and communications from Western Australian agencies, as delays or conditions could affect project economics and start dates.

CEO Insights and Confidence in Technical Outcomes

Oracle Power CEO Naheed Memon stated that "the reports necessary for the NVCP and the MDCP show no material issues on soils, geotechnical and water studies for our Kalgoorlie Gold Project, which is a great result." This underscores management’s view that technical studies present no barriers to regulatory approval or project advancement. Describing the findings as "a great result" highlights the reduction of regulatory risk and potential cost drivers related to engineering or environmental controls.

Memon added, "we continue to tick the boxes necessary for the submission of the NVCP and MDCP, which will then lead to the provision of the operating permit for the start of mining operations," expressing confidence in meeting sequential regulatory requirements. His commitment to "updating shareholders on progress as we move forward" signals ongoing communication as permitting milestones are reached. Investors should consider this commentary alongside the technical data supporting optimistic regulatory and operational prospects.

Market Background and Strategic Location in Western Australia’s Gold Belt

The Kalgoorlie Gold Project lies within Western Australia’s Eastern Goldfields, one of the world’s most productive gold-mining regions. Its proximity to the Kalgoorlie Super Pit—one of Australia’s largest gold mines—and the historic Golden Mile district highlights the area’s geological potential. This location offers operational advantages including access to skilled labour, mining contractors, power infrastructure, and established supply chains. The presence of large-scale active mines indicates regulatory acceptance and infrastructure availability for new developments.

The Eastern Goldfields have been mined for over 130 years, with modern operations proving the region’s geological and regulatory suitability for profitable gold mining. Oracle Power’s decision to develop the Kalgoorlie project reflects this strong market context and the company’s assessment of geological opportunity and operational feasibility. Proximity to existing mines and infrastructure reduces development risks compared to remote sites, supporting the project’s regulatory and economic case and management’s confidence in its viability and timeline.

Key Regulatory Milestones and Investor Considerations

Investors should monitor critical developments as the project advances through final regulatory stages. The imminent submission of the Native Vegetation Clearing Permit is the first major milestone, with announcements expected confirming submission and updates from the Department of Biodiversity, Conservation and Attractions. The subsequent submission of the Mine Development and Closure Plan to the Department of Mines, Petroleum and Exploration, currently about 60% complete, is the second key milestone.

Following submissions, investors should watch regulatory review timelines, information requests, and any permit conditions, which may require additional work or project modifications. The final operating permit issuance by Western Australian authorities will mark the last pre-operational regulatory step, likely triggering announcements on project mobilisation, capital deployment, workforce hiring, and mining start dates. Delays, adverse conditions, or significant additional requirements could extend timelines and impact project risk and valuation.