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Share Watch – 15 August 2021

Share Watch –  Province Resources (ASX:PRL)

Province Resources is aiming to develop Australia’s first truly Zero Carbon Green Hydrogen project. Green Hydrogen is a clean energy source, widely tipped to play a massive role in the world’s energy mix over the coming century (think transport, aviation, energy storage).

In April, PRL announced a binding MoU with renewable energy experts Total Eren and are currently undertaking a feasibility study on their HyEnergy Project.

PRL’s HyEnergy project is located on the WA coastal town of Carnarvon, a place with lots of sun and wind, perfect for renewable energy generation.

PRL and energy transport company Global Energy Ventures (ASX:GEV) have just entered into a non-binding MoU to evaluate the commercial viability of exporting PRL’s future hydrogen production to nominated countries in Asia.

There is a lot that both GEV and PRL will need to accomplish before any hydrogen is sold and exported, but the announcement shows positive signs of PRL’s ambition to export hydrogen in addition to domestic hydrogen supply.

GEV is an ASX listed company that is developing shipping solutions for transporting hydrogen to regional markets.

One of the biggest challenges facing the hydrogen industry is the ability to transport hydrogen over long distances. Current solutions involve either liquifying hydrogen or converting it into ammonia for transport. Both processes are inefficient and expensive.

GEV intends to build and develop a compressed hydrogen shipping solution to provide large scale marine transport for hydrogen between regional markets.

Financial indicators

The VIX fear gauge down by 0.70 of a point since 8 August to 15.45.

The Dow Jones Industrial Average up 306.87 points or 0.87% since 8 August to 35,208.51, the STOXX 600 up 5.86 points or 1.25% to 475.83 and the Shanghai Composite index up 58.07 points or 1.68% to 3,516.30.

Gold up to 1,781.50. US 10-year Treasury Bonds down to 1.286 and oil up to 68.03. Cryptos Bitcoin up by 1,262 points or 2.79% to 46,538.

ASX 200 up 90.50 points or 1.20% since 8 August to 7,628.90. The Aussie dollar up to 73.71 US cents.

Carbon Market Spot Prices

LGC $35.00                                                                 STC $38.90

ESC $36.55                                                                 VEEC $67.25

ACCU $22.35                                                              EU ETS €56.26 (up €0.28 this week)

NZU $NZ49.70 (up $1.20 this week)                            UK ETS GBP48.50 (up 0.65 this week)

Sources: RenewEconomy, demandmanager,  Reuters, SMH, Market Watch, Ieta, Recharge

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