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Province Resources (ASX:PRL) plans re-compliance submission with ASX in July

Australian mining company Province Resources (ASX:PRL) has reported that it continued to progress the HyEnergy project, its main undertaking, during Q1 2023 after the expiration of a binding term sheet with Total Eren Australia.

Province Resources says its paused trading now that engineering firm GHD will undertake the downstream component of the pre-feasibility study, and the upstream component of the study is expected to be awarded by the end of April.

The company says its commenced negotiation of an Indigenous Land Use Agreement with the Yingaarda native title holders over the footprint of the project.

Province Resources says at the end of the quarter it had a cash balance of $16.58M, and will undertake a re-compliance listing with the ASX once the study is completed in July.