Gold Hydrogen (GHY) Q3 2026 earnings summary

Executive summary

• Mobilisation for the Ramsay flow test program is imminent, with equipment scheduled for late May and testing to begin by late June 2026.

• The Ramsay Project is the first dedicated Natural Hydrogen and Helium well test operation in Australia, aiming to demonstrate commercial flow potential for both gases.

• Exceptional soil gas results and fluid inclusion studies indicate widespread Natural Hydrogen and Helium potential across the company’s 77,292 km² tenement portfolio.

• The company is advancing feasibility studies for green methanol production and fast-tracked Helium development to supply the domestic market.

Financial highlights

• Exploration expenditures for the quarter totaled $5,141,674, primarily for the Ramsay Project.

• R&D tax incentive refund of $2,708,806 was received during the quarter.

• Payments to directors for the quarter amounted to $276,930.

• Net cash used in operating activities was $3,060,000 for the quarter, with $13,646,000 in cash and cash equivalents at period end.

• Estimated quarters of funding available is 4.46 based on current cash burn.

Outlook and guidance

• Flow testing at Ramsay is expected to commence by late June 2026, targeting both Natural Hydrogen and Helium zones.

• Feasibility assessments for green methanol and Helium commercialisation are underway, with pilot plant consideration pending results.

• The company is working with Worley to assess early Helium development pathways.