PRL: HyEnergy Upstream Pre-feasibility Study commenced

Our 2021 Small Cap Pick of the Year, Province Resources Limited (ASX: PRL), has just announced that it has begun the upstream Pre-feasibility Study (PFS) on its HyEnergy project.

The company has assigned Aurecon, a top engineering and design firm, for its upstream PFS - with another firm, GHD engineering, responsible for the downstream aspect of the PFS.

PRL is currently in suspension with the company working with the ASX to change its primary business activities and re-comply with the listing rules.

PRL expects to come out of suspension some time in Q3 once the PFS has been completed.

The scope of the study will cover the wind and solar energy generation units to be placed on pastoral stations (upstream renewable power generation).

PRL holds multiple Section 91 licences over these pastoral stations, which cover more than 4,000 square kilometres.

What’s next for PRL?

As before, we expect the company to complete the PFS and come out of suspension in Q3.