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Province Resources (ASX:PRL) secures first Licence for HyEnergy Project

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ASX:PRL      MCAP $48.44M
10 September 2021 09:00 (AEST)
Province Resources (ASX:PRL) - Managing Director David Frances

Source: Business News

Province Resources (PRL) has secured its first round of approvals for its HyEnergy green hydrogen project in WA.

The company has been granted a section 91 licence under the Land Administration Act, which allows Province to kick off environmental and on-ground studies across almost 100 square kilometres north of Carnavon. This ground analysis will be used to support Province’s broader feasibility study for the project.

“This approval allows us to get on the ground to commence our environmental, heritage, geo technical and other survey work,” said Province Resources Managing Director, David Frances.

“It means we get can get a better understanding of the physical properties of the location to support our concept selection process.”

The 98.6 square kilometre site, known as the Town Common, has been pegged as the production site for the HyEnergy Project, as well as the potential home to some upsteam generation assets. The company says talks are underway with the State Government and the Shire of Carnarvon to secure a long-term lease of the area.

Once complete, Province says the green hydrogen project could have a capacity of up to around 8 gigawatts, although an initial phase may be developed with a smaller capacity.

Meanwhile, discussions are also underway with the state government, Traditional Owners, and pastoralists over a broader area of the Gascoyne region to support large-scale wind and solar generation assets.

Province Resources last traded at 15 cents on September 9.

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