Total
0
Shares
Source: Shutterstock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Province Resources (PRL) releases its June quarterly, recaps the two key memorandums of understanding it signed during the period
  • PRL signed agreements with Total Eren and the Shire of Carnarvon to develop the HyEnergy ZERO CARBON HYDROGEN Project
  • The company also raised $18 million in April, to help support a scoping study for HyEnergy and expand its mineral portfolio
  • The materials stock ended June with a cash position of $23.6 million and bolstered its board with the appointment of Roger Martin and Kyla Morrison
  • PRL shares are trading up 5.56 per cent at 14.3 cents each

Province Resources (PRL) released its June quarterly, recapping the two key memorandums of understanding (MOUs) it signed during the period.

The mineral exploration company spent the three-month period focussed on its HyEnergy ZERO CARBON HYDROGEN Project in WA’s Gascoyne Region.

PRL signed an MOU with the Shire of Carnarvon to collaborate on the potential development of the renewable green hydrogen asset.

The business also signed an MOU with Total Eren for the development of the project, with a scoping study now underway.

PRL raised $18 million in additional cash during the quarter to help support the scoping study, as well as a feasibility study.

The funds from the cap raise also went towards expanding the company’s mineral exploration portfolio across WA.

Additionally, the company acquired Ozexco in April, securing another seven exploration licence applications in the Gascoyne region

The materials stock ended June with a cash position of $23.6 million, having spent $130,000 on HyEnergy and $174,000 on its exploration projects.

Subsequent to the end of the quarter, Roger Martin was appointed as a Non-Executive Director, with plans to work in corporate affairs consulting style role as well.

PRL also appointed Kylah Morrison as a Non-Executive Director during the June period, while Thomas Langley stepped down from his role.

Shares in Province Resources were trading up 5.56 per cent at 14.3 cents per share at 11:29 am AEST.

PRL by the numbers
More From The Market Herald

" Beacon Minerals (ASX:BCN) declares fully franked dividend

Beacon Minerals (BCN) has declared a fully franked dividend of 0.125 cents per share.

" Alchemy’s (ASX:ALY) subsidiary wins tenement ballots at Lake Rebecca

Alchemy Resources’ (ALY) subsidiary, Goldtribe Corporation, has won ballots for three exploration licence applications within ALY’s Lake Rebecca Project in Western Australia.

" Tigers Realm Coal (ASX:TIG) recounts positive September quarter

Tigers Realm Coal (TIG) has released its quarterly report for the three months ending September 30.

" Chase Mining’s (ASX:CML) Red Fox applies for more tenements in Queensland

Chase Mining’s (CML) 40 per cent-owned company Red Fox Resources has applied for another three exploration permits in northwest Queensland.