Province Resources (PRL) H2 2025 earnings summary

Executive summary

• Principal activities included project evaluation for acquisitions and lobbying for the HyEnergy® project, with no dividends paid or declared for the year.

• The year saw significant regulatory delays for the HyEnergy® Project, resulting in lost initial opportunities and coinciding with reduced investor confidence in green hydrogen.

• Despite setbacks, the group remains committed to renewable energy, maintaining project readiness and advancing planning for a major HVDC transmission link.

• The company was removed from the ASX and admitted to the NSX in March 2025.

Financial highlights

• Net loss after tax was $2,637,122 for FY25, compared to $2,663,993 in FY24.

• Cash at bank at 30 June 2025 was $8,252,091, down from $10,162,888 at 30 June 2024.

• Net assets at year-end were $8,122,765, compared to $10,664,017 the previous year.

• Total income for FY25 was $411,861, with total expenses of $3,048,983.

• Basic and diluted EPS were both $(0.223) for FY25, compared to $(0.225) in FY24.

Outlook and guidance

• The company intends to keep the HyEnergy® Project ready for future cycles in renewable hydrogen development.

• Early-stage planning for a 2,800 km HVDC transmission link is underway, aiming to connect up to 6 GW of renewable power to the East Coast.

• The company continues to seek enhanced government support and is advancing discussions with state and federal authorities.