Those images highlight why this area was an ideal choice for Provaris. Previously a forestry plantation this area has been in industrial use before. Hence the existing port there also.
This project will take time though. Quite rightly the Tiwi people want to be assured that what will happen will not damage their land. This is why the EIS has been stretched out. Look at how Santos tried to rush progress on their project and it came back to bite them. They lacked consultation and the community perspectives of new gas projects has changed. Provaris have given themselves time to build strong community relationships and properly outline what this 'green project' will entail. The NT government has backed it with lead agency status. It's also only one of a few NT hydrogen projects.
While this delay means FID is stretched out, the current near term focus as stated by others is Europe and in particular Norway. Hydrogen legislation and action is far ahead of what Australia is. FID for Green hydrogen projects are so much sooner, and what comes with this is FID on export options.
We have strong management that knows Europe. Look at the directors relevant experiences as well as our European management. Our IP suits what Europe requires (especially near term export options). We have heard Per Roed explain the competitive prices of what our solution can deliver. The economics are available to see from management interviews as well as the recent presentation slides. it's more than just a lovely narrative. The EU commission included Provaris IP in their research report that demonstrated the options available for European export. The company has credibility.
It's now up to Governments to back the industry and for companies to make FID.
PV1 Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
