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.

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

• Raised $14.8 million in December 2023 to accelerate exploration and development activities.

• Focused on progressing exploration, appraisal, and potential commercial production of natural hydrogen and helium.

Financial highlights

• Net loss after tax for FY2024 was $1,861,788, a significant improvement from the $5,185,783 loss in FY2023.

• Cash and cash equivalents at year-end were $4,724,629, with $10,000,000 in term deposits.

• Total assets increased to $37,385,186 from $23,639,099 the previous year.

• No dividends were paid, recommended, or declared for the year.

Outlook and guidance

• Ongoing focus on exploration, evaluation, and development of South Australian project footprint.

• Plans to validate commercial production potential of natural hydrogen and helium, with pilot plant design contingent on further successful drilling.

• Continued engagement with international partners and investors, especially in Japan.