Gold Hydrogen (GHY) Q1 2026 earnings summary

Executive summary

• Secured a $14.5 million strategic investment from Toyota, Mitsubishi Gas Chemical, and ENEOS Xplora at a 22% premium to market price, supporting further drilling and commercialisation of the Ramsay Project.

• Expanded management and technical teams, including the appointment of a Chief Commercial Officer and additional geologists and operations managers.

• Focused on advancing Natural Hydrogen and Helium exploration in South Australia, with a significant permit area exceeding 75,000 km².

Financial highlights

• Exploration expenditures for the quarter totaled $1,779,224, primarily for the Ramsay Project.

• Payments to directors for the quarter were $201,929.

• Cash and cash equivalents at quarter-end were $23.9 million, up from $12.4 million in the previous quarter, mainly due to the strategic investment.

• Net cash used in operating activities was $2.26 million for the quarter.

• Estimated quarters of funding available is 10.57, indicating strong liquidity.

Outlook and guidance

• Drilling at Ramsay 3 is scheduled for early November 2025, with plans for two or three wells to appraise target zones.

• Well testing for Ramsay 3, and potentially Ramsay 4 and 5, is planned for Q1 2026 to inform pilot project viability.

• Feasibility assessment for green methanol production is underway, leveraging local biomass and renewable energy.