"Province Resources Ltd (ASX: PRL) speaking of tax loss selling,
our 2021 Small Cap Pick of the Year has seen some share price pressure from a couple of factors, including tax loss selling after spending some time above 20c in April combined with digestion from a recent $18M placement at 15c.We are really excited about PRL
and are waiting for the current selling to wash out before our next note and reminder that PRL is our 2021 small cap pick of the year. Remember for every seller there is a buyer. We just happily hold and watch the ups and downs as we count down to the 12 months CGT discount.
We also noted in the media this week that the government rejected plans for the Asian Renewable Energy Hub (a $36 billion wind, solar and hydrogen project in the Pilbara) on environmental concerns. PRL is working very closely with all stakeholders and all levels of governments to ensure all approvals are met.
We think this news is a net positive as it increases the value of any hydrogen projects that DO gain approval in Australia."
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small caps update
(20min delay)