Downer’s Gold Hydrogen makes a debut on ASX
The Brisbane headquartered Gold Hydrogen hit the ASX on Friday after a $20 million capital raising.
Former Foreign Minister Alexander Downer chairs Gold Hydrogen
The stock spiked early from its listing price of 50 cents to 53 cents but dropped back quickly.
The company, which has former Foreign Minister Alexander Downer as chair, is exploring for naturally occurring hydrogen in South Australia and will carry out an airborne gravity magnetic survey in March.
The combined permit area is about 75 sq km and it is the preferred applicant for four gas storage exploration licences in the Yorke Peninsula of South Australia.
Gold Hydrogen is initially focussing on natural hydrogen exploration in the Stansbury Basin, Kanmantoo Trough and the Kanmantoo Platform regions of South 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,” Downer said.
Gold Hydrogen’s IPO of 40 million shares was oversubscribed.
