Province Resources (ASX:PRL) completes acquisition of Ozexco

• Province Resources (PRL) has completed the acquisition of Ozexco, securing seven exploration licence applications in WA’s Gascoyne region
• Some of the tenements are considered prospective for salt, potash and mineral sands while others could become home to renewable energy projects
• Earlier this month, the company inked an MOU with French renewable power producer Total Eren to complete a feasibility study for the HyEnergy Zero Carbon Hydrogen Project near Carnarvon
• The multi-project, multi-commodity acquisition set Province back $750,000 in shares, 50 million performance shares and $80,000 cash
• Province last traded at 21.5 cents on April 27, 2021

Province Resources (PRL) has completed the acquisition of Ozexco, securing seven exploration licence applications in WA’s Gascoyne region.

Some of the tenements are considered prospective for salt, potash and mineral sands while others could become home to a renewable green hydrogen project.

The multi-project, multi-commodity acquisition was first announced in February and would set Province back $750,000 in shares, 50 million performance shares and $80,000 in works already completed on the projects.

“We are very happy to have completed this acquisition so quickly and smoothly,” said Province Managing Director David Frances.

“It is now full steam ahead for Province in our partnership with Total Eren in the assessment of the HyEnergy Zero Carbon Hydrogen Project for development as well as continuing to develop our suite of other exciting projects.”

Earlier this month, the company inked a memorandum of understanding with French renewable independent power producer Total Eren to complete a feasibility for HyEnergy Zero Carbon Hydrogen Project near Carnarvon.

This is with the view on then developing in two stages at the project with up to eight gigawatts in installed renewable energy capacity, which would be equally owned by the two companies.

The new tenements also include an area of mudflats in a salt-producing region, potentially amenable to a large-scale solar salt and potash development.

Province last traded at 21.5 cents on April 27, 2021.