Province raises cash for hydrogen studies
PERTH (miningweekly.com) – Junior Province Resources will raise A$18-million in a share placement to professional and sophisticated investors to fund scoping and feasibility studies at its HyEnergy Zero Carbon Hydrogen project.
The company on Thursday said that it would issue some 120-million shares, at a price of 15c each, under its existing placement capacity.
“The strong support demonstrated by the equity capital market and, in particular environmental and social governance and other institutional funds, of our vision to be a significant green hydrogen producer and mineral explorer is highly encouraging and allows us to aggressively pursue these goals,” said Province MD Davin Frances.
Province, France-based independent power producer (IPP) Total Eren previously inked a memorandum of understanding (MoU) to potentially develop a green hydrogen project in the Gascoyne region of Western Australia.
The proposed project would be developed in two stages, and would total up to 8 GW of installed renewable energy capacity, which would be jointly owned by Province and Total Eren.
Under the terms of the MoU, the partners would complete a scoping study on the proposed hydrogen project and are targeting the execution of definitive agreements within the next four months.
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