Each one in plain English, with the numbers worked through for a shareholder.
23 Apr 2021security holder rights change● Neutral
After shareholder approval at the 22 April general meeting, 50,000,000 performance shares (PRLAG) were cancelled. This suggests the Ozexco acquisition resolutions passed, though the notice does not say so (inference).
19 Apr 2021joint venture update▲ GoodMajor
Province signs a binding four-month MoU with France's Total Eren to study a potential green hydrogen project at Gascoyne of up to 8 GW, owned 50/50, with Total Eren leading the renewable development. Definitive agreements targeted within four months; each side bears own costs.
7 Apr 2021asset acquisition disposition▲ Good
Province has applied for a further 864km2 of Gascoyne coastal tenure, prospective for mineral sands, salt, gypsum and potash, lifting the combined project area to 2,272km2. These are applications only, not yet granted.
29 Mar 2021regulatory community update▲ Good
The first Fulcrum3D SODAR station is installed at HyEnergy and is collecting wind and solar data for feasibility studies, delivering on the 2 March announcement. A shareholder meeting on the Ozexco acquisition will be held shortly.
24 Mar 2021contract award▲ Good
ERM is appointed lead approvals consultant for the HyEnergy hydrogen project, to build an approvals strategy covering environmental, social and planning requirements. Practical step towards permitting the Gascoyne project; no fee or timeline stated in the readable text.
22 Mar 2021director officer appointment● Neutral
Kylah Morrison joins as non-executive director, with performance rights (1.67m each of Classes A, B and C) subject to shareholder approval. Thomas Langley steps down as director on 30 April to become full-time Chief Operating Officer, focused on the HyEnergy hydrogen project.
15 Mar 2021other● Neutral
Province will adopt World Economic Forum ESG reporting metrics and has engaged Socialsuite to produce regular ESG dashboards. No financial or project result; Frances is now described as CEO.
12 Mar 2021half year report● Neutral
Half-year to 31 December 2020 shows a loss of A$708,317 versus A$1,158,965 a year earlier. It restates known work at Pascalle and Paterson South, the A$2.1m raising and the Ozexco deal; Burke is now chairman and Frances managing director.
2 Mar 2021regulatory community update▲ Good
Province has secured a Fulcrum3D SODAR wind monitoring station, due on site at the HyEnergy hydrogen project within four weeks, to collect data for feasibility studies. It is also reviewing further renewable consultants. Early groundwork on the new Gascoyne hydrogen thread.
17 Feb 2021asset acquisition disposition▲ GoodMajor
Province agrees conditionally to buy Ozexco, holder of seven licence applications (1,408km2) in WA's Gascoyne region, for salt, potash, mineral sands and a green hydrogen project. Alongside, a A$1.35m placement lifts cash to A$5.2m; Frances becomes Managing Director. A strategy shift from vanadium and gold.
17 Feb 2021investor presentation● Neutral
Presentation repeating the Ozexco acquisition and the Gascoyne salt, potash and green hydrogen projects (1,408km2) announced the same day. No new figures shown in the readable text.
11 Feb 2021resource reserve update▼ BadMajor
Swedish metallurgical pre-study found pressure oxygen leaching recovered only about 30% of vanadium from Skåne shale, lower than expected, because the vanadium is locked in illite clay. Further testwork on other methods is needed, a setback for the Skåne vanadium case.
21 Jan 2021capital raising announcement▲ Good
Underwriter has placed the full shortfall, completing the A$2,129,917 raising. Underwriter options were issued after shareholders approved them at the 18 January meeting. Resolves the raising thread.
21 Dec 2020capital raising announcement● Neutral
Rights issue closed with 51% take-up: 96.9m shares raising A$775,519 of the A$1.53m sought, leaving a A$755,364 shortfall for the underwriter. Total raising of A$2,129,917 at 0.8 cents, including the A$599,039 placement.
What it means for a shareholder
96.9m new shares at about A$0.008 to raise about A$775,519. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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7 Dec 2020capital raising announcement● Neutral
Entitlement offer documents and acceptance forms posted to shareholders; the offer closes 16 December 2020. Administrative step in the A$2.1m raising.
26 Nov 2020security holder rights change● Neutral
56,250,000 Class A performance shares expired and consolidated, converting into just seven ordinary shares. The earlier-flagged escrowed shares were quoted. Part of the performance share structure from the Vanatech deal has lapsed.
25 Nov 2020capital raising announcement● NeutralMajor
Raising about A$2.1m at 0.8 cents a share: A$599,000 placement of 74.9m shares plus a 1-for-3 entitlement offer of up to A$1.5m, underwritten by Vert Capital for a 6% fee. Funds go to Pascalle, Gnama, new acquisitions and working capital.
What it means for a shareholder
74.9m new shares at about A$0.028 to raise about A$2.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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23 Nov 2020regulatory community update▼ Bad
Fieldwork has stopped for 2020 because of bushfire risk and extreme heat, resuming once conditions ease. Any drilling or ground surveys targeted for second half of 2020 appear delayed (inference).
10 Nov 2020director officer appointment● NeutralMajor
Company renames to Province Resources (ticker to become PRL). Patrick Burke, a lawyer and corporate adviser, joins the board; directors cut fees to A$36,000 a year each, Frances reverts to non-executive chairman and David Minchin resigns. Name change implied by header (inference).
4 Nov 2020other● Neutral
50,892,856 shares and 58,000,000 options at A$0.04 expiring 13 November 2022 are to be released from escrow on 26 November 2020. Administrative notice.
4 Nov 2020director officer appointment● Neutral
Brandon Munro will retire as a director at the 6 November AGM. Executive Chairman David Frances gives up the 25m performance rights announced in August, so that approval resolution is withdrawn. Closes an open thread on the rights.
30 Sept 2020drilling result● Neutral
Initial helicopter survey at Pascalle shows no clear massive sulphides, though 14 subtle anomalies and disseminated gold-copper style targets remain untested. At the 950km2 Paterson South applications, the Tabletop 2 magnetic/gravity bullseye is flagged as a priority. Resolves the pending survey; no drilling yet.
25 Sept 2020other● Neutral
Share registry moves from Computershare to Automic from 28 September 2020. Administrative notice only.
23 Sept 2020annual report● Neutral
Annual report for year to 30 June 2020, filed under the ScandiVanadium name. It restates the Hörby maiden resource of 116.9Mt @ 0.39% V2O5 and notes the WA tenement acquisition completed after year end. Text is truncated, so financial figures are not covered here.
23 Sept 2020other● Neutral
Appendix 4G and corporate governance key lodged with the annual report, pointing to the company website for the governance statement. Compliance paperwork only; no substance.
8 Sept 2020regulatory community update● Neutral
Review of 2005 ground electromagnetic data at Gnama found five anomalies that look like shallow sedimentary conductors. A deeper SQUID survey, to about 550m, is planned for the second half of 2020 to find the source of historic nickel-copper oxide intersections.
25 Aug 2020drilling progress report● Neutral
The helicopter electromagnetic survey over Pascalle has begun and should take 6-7 days. No results yet; it feeds planning for the maiden drill campaign targeted for the second half of 2020.
10 Aug 2020asset acquisition disposition● Neutral
Company pegged three licence applications covering 950km2 in the southern Paterson Province, about 120km southeast of Pascalle, under 400-500m of cover. These are applications only, not yet granted, so the land position is not secured.
3 Aug 2020director officer appointment● NeutralMajor
David Frances, a veteran WA mining executive, becomes Executive Chairman at A$19,909 a month plus 25m performance rights subject to shareholder approval. Brandon Munro moves to non-executive director and David Minchin to half-time executive director. Leadership shifts to a WA gold focus.
27 July 2020contract award● Neutral
New Resolution Geophysics is hired for a helicopter electromagnetic survey over Pascalle at 100m line spacing, mobilising mid-August. It is the first exploration step on the new asset, feeding planning for a maiden drill programme in the second half of 2020.
