Gold Hydrogen (GHY) H2 2024 earnings summary

Executive summary

• Completed Australia's first hydrogen-purposed drilling program, confirming high-purity natural hydrogen and helium at the Ramsay Project on Yorke Peninsula, South Australia.

• Conducted two-stage exploration well testing, with world-leading hydrogen (up to 95.8%) and helium (up to 25%) purities confirmed at surface.

• Signed non-binding MOUs with Wasco Energy, H2Site, and Mizuho Securities to advance pilot plant development and international partnerships.

• Raised $14.8 million in December 2023 to fund ongoing exploration and development.

Financial highlights

• Net loss after tax of $1.86 million for FY2024, a significant improvement from $5.19 million loss in FY2023.

• Cash and cash equivalents at 30 June 2024 were $4.72 million, with $10 million in term deposits.

• Exploration and evaluation assets increased to $21.2 million from $7.0 million year-over-year.

• Equity raised through institutional placement ($14.8 million at $0.75/share) and no dividends declared.

Outlook and guidance

• Focus remains on further exploration, appraisal, and development of natural hydrogen and helium resources in South Australia.

• Plans to progress pilot plant design and commercialisation, leveraging recent technical successes and partnerships.

• Ongoing evaluation of additional tenement applications and gas storage licenses.