Province Resources September 2024 update

Province Resources (ASX:PRL) has released its quarterly report for September 2024. The company is in talks with the State Government about the HyEnergy project. It is also evaluating gold and mineral projects to relist shares. Financially, it ended the quarter with $9.75 million in cash.

Summary of Province Resources' quarterly report

Province Resources' September 2024 quarterly report highlights discussions with the State Government regarding the HyEnergy project. The company is evaluating gold and mineral projects domestically and internationally for potential relisting. Financially, Province Resources reported a cash balance of $9.75 million and an exploration expenditure of $52,000. No significant mining activities occurred during the quarter. The company updated its ESG reporting to align with GRI Standards and stated it has sufficient funding for about 23 quarters based on current cash outflows. The company maintains focus on strategic project development and financial stability.

Executive commentary on quarterly activities

Province Resources is actively engaging with the State Government to secure tenure for the HyEnergy project. Our strategic evaluations of gold and mineral projects both in Australia and internationally demonstrate our commitment to identifying suitable projects for relisting. Financial stability remains a priority, as evidenced by our cash balance of $9.75 million.