**Summary**
Oracle Power PLC has entered into a binding **Right to Mine and Co-Operation Agreement** with **MEGA Resources Pty Limited** and **BGR Pty Limited** for the **Northern Zone Gold Project** in Western Australia. The project, owned 80% by **Riversgold Limited** and 20% by Oracle, is located near the Kalgoorlie Super Pit. Under the agreement
**MEGA Resources** will fully fund the project, including mining, haulage, and ancillary activities, through its partnership with **BGR Mining & Infra Limited**.
**Project Owners** (Riversgold and Oracle) will receive **50% of the profits**, with no upfront funding required.
**10% of monthly profits** will be reinvested into grade control and step-out drilling.
MEGA Resources aims to commence operations in **Q1 2026**, pending final approvals and an Ore Purchase Agreement.
Drilling has identified significant gold mineralization, with plans for further exploration to expand known zones.
Oracle’s CEO, **Naheed Memon**, highlighted the deal’s benefits, including accelerated mining, removed funding requirements, and profit-sharing potential. The project’s geological model remains valid, with an exploration target of **2.5–4.8 million ounces of gold**.
**Key Partners**
**MEGA Resources**Western Australian mining company providing funding, expertise, and services.
**BGR Mining & Infra Limited**Indian mining giant with a net worth of AUD 500 million, providing financial backing.
This agreement marks a significant step forward for Oracle Power in monetizing its gold assets while minimizing financial risk.