Province Resources (PRL) Q4 2024 TU earnings summary

Executive summary

• HyEnergy® project remains on hold pending satisfactory tenure resolution with the State government; all work limited until a clear path forward is established.

• Company is exploring options to restore share trading on the ASX.

Financial highlights

• Cash balance at quarter end was $10.16 million.

• Net cash used in operating activities for the quarter was $710,000; year-to-date net cash used was $5.34 million.

• Exploration and evaluation expenditure during the quarter was $3,000.

• Payments to related parties (directors' fees and salaries) totaled $136,000 for the quarter.

Outlook and guidance

• Estimated quarters of funding available is 14.31, indicating strong liquidity for ongoing operations.