Gold Hydrogen (GHY) floats on the ASX
January 13, 2023New frontier energy developer Gold Hydrogen stocks has opened at 50c following its maiden entry on the Australian Stock Exchange today.
With an eye on growing domestic and global demand for hydrogen as an alternative energy source, the company is using modern technology to develop South Australia as a new natural hydrogen gas province.
Oversubscribed IPO funds totalling $20 million will be put into exploration, starting with an airborne gravity-magnetic survey to confirm additional prospects at the end of the quarter.
Company chair and former federal Liberal leader Alexander Downer said real solutions are needed to decarbonise in ways that keep the lights on.
The Gold Hydrogen team (former federal Liberal leader Alexander Downer far right)
“To know we have the support of so many people in the hunt for low carbon energy sources, and that the search starts in my state, is incredibly humbling.
“This is an Australian first, and very exciting for South Australia and Australia.”
Price Action
The Company’s ASX-listed shares have risen 5 per cent to 52.5c in its first early morning of trade.
About the Project
The combined natural hydrogen permit area of the Gold Hydrogen group is approximately 75,332 km2. Gold Hydrogen holds one granted petroleum exploration license (PEL 687). It’s two 100% owned subsidiary companies (White Hydrogen Australia and Byrock Resources) have seven applications for natural hydrogen exploration within South Australia.
Gold Hydrogen is also the preferred applicant for four (4) gas storage exploration license applications (GSELA) covering an additional 8,107km2 within the renewable energy zone of PEL 687 of the Yorke Peninsula region of South Australia.
The group’s permit areas are characterised by low population densities, cooperative stakeholders and aspects of the natural environment suited to the exploration and development of a future natural hydrogen gas province.
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