Follow the money!This morning we woke up to see that aspiring...

Follow the money!

This morning we woke up to see that aspiring green energy moguland Australia’s richest man Andrew “Twiggy” Forrest’s FMG Resources Pty Ltd hasjust pegged every single bit of land surrounding Province Resources (ASXRL)’s proposed green hydrogen project - and more beyond.

ASX: PRL

Look at the map below - we didn’t believe the scale when we sawit and we don’t know why he’s doing it...

In March, FMG Resources grabbed a few bits of land around PRL,but today’s land grab is many multiples of this...

We have seen all sorts of scrambles to peg ground surrounding anew valuable discovery in the past, but never to such an outrageous scale asthis, with no real basis other than what to us looks like a renewable energyland grab…

The blue land is PRL’s prime sea-side sunny and windy landperfect for renewable energy.

The red shows all the land that Forrest’s FMG Resources Pty Ltdhas just pegged in recent days:

We estimate it would cost ~ $3M to peg this area of ground - andholding costs would be huge - we would estimate ~ $5M a year.

PRL is developing Australia’s first truly “Zero Carbon” GreenHydrogen project near Carnarvon in the Gascoyne and is one of our biggestholdings.

PRL has an enviable land position of 2,272 km2 right on thecoast near Carnarvon - a region which is extremely windy (4th windiest place inAustralia) and sunny - the perfect conditions for renewable energy generation.Being on the coast means easier access to the Asian market via shippingcompared to inland ground.

Twiggy is at it again - and at a scale we never would have imagined.

Here is Round #1 -Back in March, Twiggy’s FMG Resources Pty Ltd pegged this bit of land next toPRL:

Here is round #2 of Twiggy’s pegging adventures:

THIS MORNING we have discovered that Twiggy pegged the biggestamount of land we have ever seen in one go.

He has literally pegged almost the entire Gascoyne regionsurrounding PRL’s proposed renewable energy / hydrogen project - and we don’tknow why...

We are going to let this picture do the talking: