Province Resources (PRL) H2 2025 earnings summary

Executive summary

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

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

• Despite setbacks, the group remains committed to renewable energy and is planning a major HVDC transmission link.

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

• No dividends were paid or declared for the year.

Financial highlights

• Net loss after tax: $2,637,122 (FY24: $2,663,993).

• Revenue: $411,861 (FY24: $558,459).

• Cash at bank: $8,252,091 (FY24: $10,162,888).

• Net assets: $8,122,765 (FY24: $10,664,017).

• Basic EPS: (0.223) cents (FY24: (0.225) cents).

Outlook and guidance

• HyEnergy® Project remains in a state of readiness for future hydrogen market cycles.

• Early-stage planning for a 2,800 km HVDC transmission link to connect renewable energy to the East Coast.

• Black Horse Mining spin-out and IPO planned for October/November 2025, with PRL retaining a significant equity stake.