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Gold Hydrogen Limited (ASX:GHY)

ALERT: Price-sensitive ASX Announcement for GHY
Current share price for GHY : $0.430 -0.085 (-16.50%)+
Announcement
Release
2 Nov 2026 9:07AM
Price at Release
$0.515
Full Release
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Summary
Gold Hydrogen Limited (ASX: GHY) announced that renowned resources investor Eric Sprott, through 2176423 Ontario Ltd, will invest $4 million as the cornerstone of a $7.94 million institutional placement, under which 18,045,429 shares will be issued at A$0.44 each together with one option for every two shares exercisable at A$0.66 within 24 months, potentially raising a further A$5.95 million if fully exercised. The company said the funds, alongside recently announced R&D financing and additional capital, will support final design and procurement for a modular helium plant at its Ramsay Project on South Australia’s Yorke Peninsula using Quantum Technology Corporation’s skid-mounted purification system already proven on Ramsay gas, with the aim of establishing Australia’s first helium production since the Darwin plant closure in late 2023. The announcement highlights strong Ramsay appraisal results, including average stabilised air-corrected helium concentrations of about 15.2%, helium gas rate potential of up to about 37 Mscf/day per well, and natural hydrogen potential of about 100 kg/day per well with concentrations up to 97% at Ramsay 3, supporting separate commercial pathways in helium and natural hydrogen. Gold Hydrogen also linked the placement to the strategic significance of helium following its designation as a critical material by the U.S. Department of Energy on 23 October 2026 and said it is in ongoing discussions with the Australian Federal Government about restoring helium to Australia’s Critical Minerals List.
Key Points
  • Eric Sprott committed A$4 million to Gold Hydrogen as part of a A$7.94 million institutional placement.
  • The placement is priced at A$0.44 per share with one option for every two shares at an exercise price of A$0.66 and a 24 month term.
  • If all options are exercised, Gold Hydrogen could raise an additional approximately A$5.95 million.
  • Funds are intended to help advance final design and procurement of a modular helium plant at the Ramsay Project in South Australia.
  • The helium plant is planned to use Quantum Technology Corporation purification technology already tested on Ramsay gas.
  • Gold Hydrogen said the project could lead to Australia’s first helium production since the Darwin plant closed in late 2023.
  • The initial helium purification train has a vendor design basis of about 17 Mscf/day of purified helium, upgradeable to 99.999% purity.
  • Ramsay appraisal testing reported average stabilised air-corrected helium concentrations of approximately 15.2% across Ramsay 1, 2 and 3.
  • Project-wide modelling indicates helium gas rate potential of up to approximately 37 Mscf/day per well.
  • Natural hydrogen appraisal testing indicated potential production of approximately 100 kg per day per well, with up to 97% hydrogen recorded at Ramsay 3 during drilling.
  • Gold Hydrogen is assessing dual commercial opportunities at Ramsay in helium development and natural hydrogen, including possible green methanol applications.
  • The company noted the U.S. Department of Energy designated helium a critical material on 23 October 2026 and said it is in dialogue with the Federal Government to restore helium to Australia’s Critical Minerals List.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.