Province Resources (PRL) Q1 2025 TU earnings summary

Executive summary

• Ongoing discussions with the State Government regarding tenure for the HyEnergy® project.

• Actively evaluating gold and mineral projects in Australia and overseas for potential relisting.

Financial highlights

• Cash balance at quarter end was $9.75 million, down from $10.16 million in the previous quarter.

• Exploration and evaluation expenditure for the quarter totaled $52,000.

• Net cash used in operating activities was $424,000 for the quarter.

• Interest income for the quarter was $99,000.

• Payments to related parties (directors' fees and salaries) amounted to $129,000.

Outlook and guidance

• Estimated quarters of funding available is 23, indicating strong liquidity for ongoing operations.

• Intends to identify suitable projects for relisting on a recognised exchange.