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LONDON - Oracle Power PLC (AIM:ORCP) confirmed Friday it is in discussions with its partner Riversgold Limited regarding a material contract with an unnamed firm to advance operations at their Northern Zone Gold Project.
The announcement follows Riversgold’s trading halt on the Australian Securities Exchange (ASX) pending disclosure about a capital raising and a material contract related to the Northern Zone project. The trading halt will remain in effect until Tuesday, September 30, or until Riversgold releases its announcement.
Oracle Power, an international project developer, indicated that further details about the potential contract would be disclosed "in due course as appropriate," according to the company’s press release statement.
The Northern Zone Gold Project represents a joint venture between Oracle Power and Riversgold, though specific ownership percentages and project details were not included in the announcement.
No information was provided about the identity of the third-party firm involved in the potential contract or the nature of the operations to be advanced at the Northern Zone.
Oracle Power is listed on London’s AIM market, while Riversgold trades on the ASX.
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