The Province Resources Limited (ASX: PRL) share price remains frozen today after being placed in a trading halt last Thursday.
Shares in green hydrogen company are standing still at 14.5 cents each.
As reported by my Foolish colleague Aaron Teboneras, Province shares were frozen last week to give the company time to finalise the terms of a joint development agreement with French renewable energy company Total Eren.
Today, Province requested a further extension of the halt.
Province Resources makes voluntary suspension request
Province asked the ASX to suspend its shares from quotation this morning.
The company asked for more time to finalise its joint venture terms with Total Eren for the HyEnergy green hydrogen project in Western Australia.
Province requested the suspension remains in place until the terms are finalised, or the commencement of trading on Friday this week.
The HyEnergy venture aims to produce 550,000 tonnes of green hydrogen annually at the project site in WA’s Gascoyne region. Green hydrogen is produced using renewable energy.
Currently, the project is in the detailed planning stage and is expected to be built in two stages. This includes using a mix of wind turbines and a solar farm.
Province Resources share price snapshot
The Province Resources share price is holding steady year to date although it’s down 17% over the last 12 months.
That’s an underperformance of the S&P/ASX 200 Materials Index (ASX: XMJ) over the past year. It’s down around 10% in the same time period.
The company has a market capitalisation of $171 million.
The post Why is the Province Resources share price still halted? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Province Resources Ltd right now?
Before you consider Province Resources Ltd, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Province Resources Ltd wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
See The 5 Stocks
*Returns as of August 4 2022
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/2icrHlI
Leave a Reply