Each one in plain English, with the numbers worked through for a shareholder.
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.
30 July 2021quarterly activities report● Neutral
June quarter report recaps the Total Eren MoU for up to 8GW of renewables and a 50:50 downstream hydrogen facility, the Shire of Carnarvon MoU, the A$18m raising and A$23.6m cash. Scoping studies are 'progressing well' and Gnama drilling awaits environmental surveys; no new results.
30 July 2021quarterly activities report▲ Good
June quarter cash flow shows cash of A$23.6m after the A$18m raising, with A$1.0m from option exercises. Operating cash outflow was A$713k, and no debt is reported. The company estimates 33.1 quarters of funding at the current spend rate.
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.
17 June 2021agm notice● Neutral
Letter to shareholders notifying a general meeting on 20 July 2021 at 10am WST, with virtual attendance and proxy deadlines. The letter does not say what resolutions will be considered.
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.
30 Apr 2021quarterly activities report● Neutral
March quarter report recaps the Ozexco completion, Total Eren MoU, further 864km2 of applications, and board and adviser changes. It adds hydrogen market background but no new results; the HyEnergy project remains at feasibility stage.
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.
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.
