Province Resources (PRL) H1 2025 earnings summary

Executive summary

• Principal activities included project evaluation for acquisitions and lobbying for the HyEnergy® green hydrogen project.

• Loss after income tax for the half-year was $1,199,628, compared to $1,075,816 for the same period last year.

• The HyEnergy® project faced delays due to government tenure issues, resulting in reduced investor interest and deferred sector projects.

• The company remains optimistic about long-term prospects for green hydrogen and continues to collect project data and engage with government.

• Several subsidiaries were deregistered or are in the process of deregistration.

Financial highlights

• Revenue from interest and other income totaled $239,610 for the half-year.

• Total comprehensive loss for the half-year was $1,100,541, compared to $1,072,008 in the prior year.

• Basic and diluted loss per share was 0.10 cents for the half-year.

• Cash and cash equivalents at period end were $9,270,137, down from $10,162,888 at the start of the period.

• Net cash used in operating activities was $873,999, a decrease from $3,673,171 in the prior year.

Outlook and guidance

• The company intends to maintain the HyEnergy® project in readiness for future renewable hydrogen demand cycles.

• Ongoing efforts to secure enhanced government support and monitor market conditions for renewed investor interest.