Gold Hydrogen has officially been listed on the ASX, raising proceeds of $20 million via the issue of 40 million fully paid ordinary shares at an issue price of 50 cents each. The oversubscribed IPO raising was fully underwritten by Morgans Corporate Limited.
Related article: Search for naturally occurring hydrogen begins in South Australia
Gold Hydrogen is chaired by Alexander Downer, who was the sitting member for the federal seat of Mayo in South Australia from 1984 to 2008. The seat of Mayo is within the company’s granted and application tenure footprint.
Commenting on the company’s ASX debut, Downer said, “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 own state, is incredibly humbling. This is an Australian first, and very exciting for South Australia and Australia.
“We need real solutions to decarbonise in ways that keep the lights on, and innovators like Gold Hydrogen will be essential to those goals.’’
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Gold Hydrogen is focused on the discovery and development of world class natural hydrogen gas. The company is the preferred applicant for four gas storage exploration licenses applications covering an additional 8,107km2 within the renewable energy zone of PEL 687 of the Yorke Peninsula region of South Australia.
