Gold Hydrogen (GHY) Q4 2026 earnings summary

Executive summary

• Advanced preparations for flow testing of Ramsay 1, 2, and 3 wells to assess Natural Hydrogen and Helium potential, with testing to commence imminently.

• Non-binding MOU signed with Mitsubishi Gas Chemical for a green methanol feasibility study using Natural Hydrogen from the Ramsay Project.

• Worley Consulting completed a high-level commercial assessment indicating potential commercial viability for Helium production at Ramsay with as few as two wells.

• No substantive production or development activities occurred during the quarter; focus remained on exploration and technical evaluation.

Financial highlights

• Exploration expenditures for the quarter totaled $1,970,958, primarily related to the Ramsay Project.

• Payments to directors for the quarter amounted to $253,064.

• Cash and cash equivalents at quarter end were $10,963,000, with an estimated 4.09 quarters of funding available.

Outlook and guidance

• Flow testing results from Ramsay wells will be pivotal for defining contingent resources and advancing commercialisation pathways.

• Pending successful outcomes, the company plans to accelerate FEED for Helium and Natural Hydrogen developments.

• The green methanol feasibility study is scheduled to commence in H2 2026, with decision points at the end of 2026 and following feasibility.