Gold Hydrogen (GHY) Q2 2026 earnings summary

Executive summary

• Successful drilling and completion of Ramsay 3 and Ramsay 4 wells, confirming elevated levels of Natural Hydrogen and Helium in key formations.

• Initial lab results from Ramsay 3 show up to 97% air-corrected Natural Hydrogen purity; full results for both wells are pending.

• The 2025/26 campaign features larger well bores to enhance well testing flexibility and inform future pilot project design.

• The Ramsay Project is positioned as a potential world-class source of Natural Hydrogen and Helium, with significant prospective resources.

Financial highlights

• Exploration expenditures for the quarter totaled $6,595,937, primarily for the Ramsay Project.

• Payments to directors for the quarter amounted to $213,565.

• Net cash used in operating activities for the quarter was $7,174,000, with a closing cash balance of $16,706,000.

• No substantive production or development expenditures were incurred during the quarter.

Outlook and guidance

• Well testing for Ramsay 3 and potentially Ramsay 4 is planned for 2026, with preparations underway and commencement targeted for Q1 2026, pending approvals.

• Feasibility studies for green methanol production and Helium engineering are in progress, with updates to follow as assessments advance.

• The company estimates 2.33 quarters of funding available at current expenditure rates.