Sector: Basic Materials
Industry: Renewable energy
Type: Speculative Stock
Province Resources is natural resources company currently focused on the mineral exploration and development of copper, gold, nickel, cobalt, vanadium and other mineral opportunities.
The Company aims to take advantage of the growing usage of these commodities in the growing green energy market.
Furthermore, Province is investing the world class wind and solar resources of the Gascoyne Region at the HyEnergy Project, located within close proximity to key infrastructure such as the Dampier Bunbury Gas Pipeline, which may provide potential for the establishment of a Renewable Green Hydrogen Project capable of supplying domestic and international markets.
The company’s main focus according to the last investor presentation is Green Hydrogen. We always enforce anyone that is looking at trading or investing a specific stock, to understand the scope of the industry. If you don’t know what green hydrogen is all about, it worth looking at the following slide.
Province resources are focused on the Green way to produce Hydrogen Energy.
Key Macro-Economic Facts
- Potential for a Hydrogen energy boom
- Storage renewable power for long period of time compared to battery storage.
- By 2050, U.S. demand for hydrogen could increase anywhere from 22 million to 41 million metric tons per year, up from 10 million today, according to a study released this month by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL).
- Bank of America believes hydrogen technology will generate $2.5 trillion in direct revenue — or $4 trillion if revenue from associated products such as fuel cell vehicles is counted — with the total market potential reaching $11 trillion by 2050.
- The Advanced Clean Energy Storage project in Utah aims to build the world’s largest storage facility for 1,000 megawatts of clean power, partly by putting hydrogen into underground salt caverns.
- The concept is quickly gaining momentum in Europe.
- Unlike to surpass battery electricity to domestic vehicles however, Hydrogen is proven to be a great solution for large, commercial vehicles, such as trucks, ships and trains.
- Government support and incentives will be catalyst for the success of Green Hydrogen adoption, as well as for stock prices boom on Green hydrogen stocks such as Province resources to outperform. And that is exactly what is happening in Australia.
- Northern Australia Infrastructure Facility (NAIF) has released a $5B development financier that provides loans to infrastructure projects in North Territory, Queensland and Western Australia, in the last financial year.
HyEnergy Project – Green Hydrogen
The HyEnergy Project is a potential ‘Renewable Green Hydrogen Project’ that is located in Western Australia’s Gascoyne Region.
✅ Company has already received Funding from Government on both a State and Federal level directed at developing the Hydrogen Industry include:
- Western Australian Renewable Hydrogen Strategy $10m.
- Australian Renewable Energy Agency (ARENA) $70m.
- Australian Government Advancing Hydrogen Fund $300m.
✅ Fortescue Metal has been potentially looking into hydrogen energy for their mines, provided that FMG owns a considerable amount of land around the project, Province resources could well benefit from a potential partnering or offtake agreement .
✅ Binding MoU with Total Eren, a potential partner to build the project.
Next Steps of the Project
Gnama Nickel – Copper Project
The Gnama Nickel Project is located at the southern end of the Fraser Range, host to numerous recent nickel discoveries.
✅ Company recently announced that has lodged applications of Programme of Works for Air Core drilling activities at Gnama North.
- Gascoyne Project – Salt and Potash, which offers an attractive financial returns for more than 60 years, potentially making it one of the longest life projects developed in Australia for decades.
- Gascoyne Project – Heavy Minerals, which include heavy minerals such as heavy minerals, such as zircon, titanium; which are Critical Minerals’, vital to the economic well-being of the world’s major and emerging economies.
- Skane Vanadium Project in South Sweden. Vanadium is used in many objects, the primary application is in reinforcement of steel for construction, industrial tools, automotive parts, medical devices, air frames and much more. What makes vanadium valuable for this project is once again, green energy, with Vanadium Redox Battery. This project offers exposure to Vanadium and battery metals sector. The use of Vanadium in battery is an alternative to Li2O battery and could be closely checked if the market adopt and develops technology based on Vanadium
Technical Analysis and Share price
The Stock price has gained momentum since February 2021, when it has risen 985% in 3 months, with correction of 40% and 11% and 20% we also saw multiple opportunities to trade with trading ranges as wide as 35% SP swings. The stock price is currently sideways, in consolidation phase and potentially looking at new highs as the company movers forward with Green Hydrogen energy project in WA.
The current Chart formation shows the following points:
✅ Bullish intersection level 2
✅ Bullish intersection level 1
✅ Trading range of from 13c to 18c.
✅ Descent momentum on the market for Green Energy.
✅ Green candle on Heiken Ashi chart
✅ High Volume on the upside.
Key Catalyst Information (SP Sensitive) to Watch (this area is restricted to VIP Members only)
Entry details: (this area is restricted to VIP Members only)
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