Oracle Power plc
Oracle Power Plc is a London-headquartered, AIM-listed natural resource project development company with no current revenue. It is developing an energy project in Pakistan (a coal resource and mine-mouth power plant at Block VI, Thar, plus a green hydrogen/green ammonia project), and two exploration projects in Western Australia (the Northern Zone gold project, now under a mine development/right-to-mine agreement with a mining contractor, and the Blue Rock Valley copper-silver project). The group's strategy is to advance projects to the point of partnering, joint venture or sale rather than self-funding construction.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 1 Jul 2027
- Open the reportJSONComing soonSixty seconds on the FY2025 report
Oracle Power Plc develops energy projects in Pakistan and gold and copper exploration projects in Western Australia, and has no revenue yet. In the year to 31 December 2025 it made a loss of £570k, smaller than the £712k loss the year before. Most of the loss came from running the head office. Central administration costs were £540,097, down from £634,146, while the projects themselves cost little in the year. The report shows no large one-off costs or gains distorting the result. The company ended the year with £697k in cash, up from £619k, and no borrowings. It raised £877k by selling new shares to investors and paid no dividend. Management expects first gold production in the second half of 2026 at its Northern Zone project, where a partner pays for the mining, and expects revenue in 2026. The auditors flagged a "material uncertainty" over whether the company can keep going, because it needs to raise more money within the next 12 months. Their opinion was otherwise clean.
From the reportevery line sits on the page it namesWhat drove revenueNo revenue currently generated; Group is pre-revenue project developer
"These segments are not yet revenue generating"
page 45AndNorthern Zone gold project moving toward production under MEGA/BGR right-to-mine deal
Mining Lease application made; first gold production anticipated second half of 2026; MEGA funds mining, profits split 50/50 project owners/MEGA, Oracle 20% of project owners' share, Riversgold 80%
page 4What moved the marginheadwindCentral administration costs
Central administration costs of £540,097 (2024: £634,146) dominate the Group loss, versus total reportable segment loss of only £57,058
page 45AndtailwindMEGA Resources full funding of Northern Zone mining
MEGA Resources will fund all mining operations/costs; no upfront funding required from Oracle or Riversgold, removing capital funding burden from Oracle
page 4One-offs in the year£3k charge: Impairment loss recognised on loans to associates/intercompany loans
page 38What management saidChairman: believes the MEGA/BGR right-to-mine deal accelerates Northern Zone development at a time of rising gold prices, removes funding liability from the Company, and anticipates first gold production during H2 2026
page 4After the year endNo events after the reporting period requiring disclosure per Note 22, though the CEO/Chairman reports (dated 24 June 2026) reference post-period developments: First SMG Infrastructure LLC submitted a proposal in April 2026
page 63The dividendNo dividends paid or proposed for FY2025 (2024: none); Group is pre-revenue and loss-making
page 15Going concern and the auditAuditors (Price Bailey LLP) issued an unmodified/unqualified opinion but drew attention to a material uncertainty related to going concern (Group's net cash operating outflows financed by existing resources and new equity; additional funding required over next 12 months, creating material uncertainty, but Directors consider going concern basis appropriate). Key Audit Matters: (1) going concern, (2) project feasibility/impact on carrying value of intangibles, (3) valuation of investments in subsidiaries and associate, (4) recoverability of intercompany loans. Auditor: Adam Norman FCCA for Price Bailey LLP, dated 24 June 2026.
page 24The risks it names first- Financing risk – ability to secure financial close for Green Hydrogen (reliant on commercial terms/market development) and coal-to-power project (reliant on Chinese Sinosure export financing support)p.9
- Project completion risk – delays in electrolyser supply/storage-transport infrastructure for GH project; power plant performance guarantee encashment risk; Block VI phased development delay risk from government infrastructure provisionp.10
- Operating risk – technical/infrastructure issues (water, transmission, storage, transport) at Thar and GH project; new-technology risk in green hydrogen storage/transportp.10
- Economic risk – exchange rate volatility, US dollar inflation, gold price volatility, renewable component shortages/cost, ability to raise finance in adverse capital marketsp.11
Read from C000947-AR-2025-ch.
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