Each one in plain English, with the numbers worked through for a shareholder.
20 Dec 2021regulatory community update▲ GoodMajor
The WA Government awards HyEnergy lead agency status, with the jobs and innovation department to guide approvals. This resolves the open lead-agency application. Province says the scoping study with Total Eren is close to complete, and it has opened a Carnarvon office.
20 Dec 2021admin correction● Neutral
Share registry Automic has moved its Perth office to 191 St Georges Terrace. Administrative notice only; no business information about Province.
14 Dec 2021drilling spud● Neutral
Phase 1 air core drilling begins at Gnama North, about 2,000m on one tenement, smaller than the roughly 3,200m originally planned. Results are expected Q1 2022. Gnama South drilling is now expected in the first half of 2022 after approvals.
14 Dec 2021joint venture update● Neutral
GEV reports its HyEnergy export study design phase is complete, engineering starts January 2022 and completion is due in the June 2022 quarter. The A$300,000 grant agreement is signed. Province led the application for the new Gascoyne hydrogen innovation cluster.
9 Dec 2021resource reserve update● Neutral
Province restarts work on its Skåne vanadium project in Sweden, with metallurgical testwork then a Micon scoping-level economic study. Testwork is due Q1 2022 and the study Q2 2022. The existing resource of 116.9Mt at 0.39% V2O5 is unchanged; no new drilling.
23 Nov 2021director officer appointment▲ Good
Province appoints Cameron Bateman as Chief Development Officer. He is an engineer with 30 years' experience, including 2006 to 2020 at Woodside Energy, and will help drive development of HyEnergy.
18 Nov 2021regulatory community update▲ Good
Province welcomes the WA Government's proposed new 'diversification lease' for green hydrogen projects, which would add a tenure option for HyEnergy. The changes are proposed and the government will consult stakeholders. Province will keep pursuing tenure under existing law.
8 Oct 2021drilling scheduled● Neutral
Fauna survey fieldwork at Gnama South is finished. The Programme of Work still awaits the flora report, and heritage surveys with the Ngadju are being planned. An RC and diamond program targets nickel-copper below historic holes such as 20m @ 0.57% Ni; no start date.
7 Oct 2021joint venture update● Neutral
Global Energy Ventures says its HyEnergy export feasibility study has started, with WSP as lead, ERM on environment and Oropesa on offshore terminal design. Completion is expected in the June 2022 quarter. It follows the August MoU and the WA grant.
1 Oct 2021other● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2021, pointing to the governance statement on the company website. Administrative filing with no new business information.
1 Oct 2021annual report▼ Bad
Annual report for the year to 30 June 2021 shows a loss of A$14.5m, against A$1.7m the prior year. It confirms the Ozexco purchase for 50m shares at A$0.015 (A$750,000) plus 50m performance shares tied to HyEnergy milestones.
16 Sept 2021asset acquisition disposition● NeutralMajor
Province agrees to sell its Pascalle gold project in the Paterson to Greatland Gold for a total of A$400,000: A$50,000 for one licence and an option for A$350,000 over the rest. This resolves the open question over Pascalle and lets the company focus on HyEnergy, Fraser Range and Sweden.
13 Sept 2021drilling scheduled● Neutral
Flora survey is done at Gnama South and a fauna survey is about to start. An RC and diamond program is planned to test for nickel-copper below historic holes such as 20m @ 0.57% Ni. The Programme of Work awaits the flora report; no drilling date is set.
10 Sept 2021regulatory community update▲ GoodMajor
Province secures its first HyEnergy approval, a Section 91 licence over the 98.6 sq km Town Common site north of Carnarvon, allowing environmental and survey work to begin. The company calls it only a preliminary step; a long-term lease is still under discussion.
8 Sept 2021joint venture update▲ Good
Global Energy Ventures won a WA Government grant of up to A$300,000 to fund its HyEnergy hydrogen export feasibility study, targeted for completion in the first half of 2022. The grant goes to GEV, not Province, but supports the study set up under the August MoU.
20 Aug 2021drilling scheduled● Neutral
Province has lodged Programmes of Work for a first-phase air core program of about 3,200m at Gnama North in the Fraser Range. Drilling starts after DMIRS and Ngadju heritage approvals. It tests regional geochemical targets, not a resource; historic 20m @ 0.57% Ni is cited.
18 Aug 2021material agreement▲ Good
Province appoints PwC to assist across legal, integrated infrastructure and tax for the HyEnergy project. No fees or terms are disclosed; it adds to the adviser team around the project.
13 Aug 2021joint venture update● Neutral
HyEnergy update: scoping study data collection and Phase 1 modelling are proceeding, and the partners are seeking State Government Lead Agency Status. Heritage and environmental studies start shortly, and domestic offtake talks are under way. The CEO flags no certainty yet on land tenure or legislation.
9 Aug 2021material agreement▲ Good
Province and Total Eren sign a non-binding, non-exclusive MoU with Global Energy Ventures, which will study exporting HyEnergy green hydrogen to Asia-Pacific by compressed hydrogen ship, at GEV's own cost. It could inform the export method chosen in the next engineering phase.
9 Aug 2021material agreement● Neutral
Global Energy Ventures' own announcement of the same non-binding MoU with Province and Total Eren on HyEnergy hydrogen export. It adds that the MoU expires 31 December 2022 and that the HyEnergy scoping study is aimed for completion in 2021.
27 July 2021director officer appointment▲ Good
Roger Martin, formerly chief of staff to the WA Treasurer and a former Woodside corporate affairs vice president, joins as non-executive director and consultant at A$5,000 a month for six months. He gets 5m performance shares, subject to shareholder approval, tied to HyEnergy milestones.
22 July 2021other● Neutral
Following the 20 July meeting, Frances received a further 15m performance rights (30m total) and Morrison 5m performance rights. These are the incentive securities previously flagged as needing shareholder approval.
15 June 2021regulatory community update▲ Good
Province held a community meeting in Carnarvon and received letters of support from the Gascoyne Development Commission and the Shire of Carnarvon for HyEnergy. It also hired Greg Walker (access and approvals) and Burke Maslen (local company representative).
28 May 2021regulatory community update▲ Good
Province has lodged a Programme of Works to drill the Gnama nickel-copper prospect in the Fraser Range, targeting depth below historic intercepts such as 20m at 0.57% nickel. Approval is pending, and no drilling has yet occurred.
20 May 2021capital raising announcement▲ GoodMajor
Province raises A$18m at A$0.15 per share through a placement of 120m shares, led by Canaccord Genuity and Inyati Capital, bringing cash to over A$23m. Far larger than the earlier A$0.008 and A$0.015 raisings, it funds HyEnergy scoping and feasibility studies and mineral exploration.
18 May 2021other● Neutral
ASX pauses trading in Province shares pending a further announcement. No reason is given in the notice; the 20 May raising announcement followed two days later.
5 May 2021investor presentation● Neutral
May 2021 company presentation on green hydrogen and the HyEnergy project. The readable text is only disclaimers and introductory slides, with no new figures or results.
4 May 2021material agreement▲ Good
Province signs a non-binding-style MoU with the Shire of Carnarvon to investigate a 12,311 hectare area north of Carnarvon for part of the HyEnergy infrastructure. It runs six months from 1 May 2021, extendable, with a long-form agreement to be negotiated if the area suits.
27 Apr 2021other● Neutral
Director interest notices show Burke took 6.67m shares at A$0.015 plus 7.5m options (A$0.04 strike, expiring Nov 2022). Frances took 10m shares at A$0.015 plus 15m performance rights. All approved at the 22 April meeting; text for a third notice is truncated.
27 Apr 2021asset acquisition disposition▲ GoodMajor
Province completes its purchase of Ozexco, holder of seven Gascoyne licence applications, which the 17 February deal made conditional. The company reports cash at bank of A$7m and says it is now working with Total Eren on the HyEnergy hydrogen assessment.
