Gold Hydrogen's Ramsay Project Shows Promising Helium and Hydrogen Purity Levels
GOLD HYDROGEN LIMITED (GHY) Share Update August 2024 Thursday 1st
Gold Hydrogen Reports High Helium Purity in Ramsay Project
Gold Hydrogen Limited (ASX: GHY) has announced groundbreaking results from its Ramsay Project, revealing some of the highest helium purity levels ever reported, along with significant natural hydrogen concentrations.
Instant Summary:
- Hydrogen and Helium concentrations detected at surface, an international first for a non-petroleum system.
- Helium purity levels of 20% to 25%, among the highest reported.
- Promising results from Stage 2 exploration testing at Ramsay 1 and 2 wells.
- Completion of Ramsay 2D seismic program acquisition phase.
- Non-binding MOU signed with Mizuho Bank to promote Natural Hydrogen and Helium usage.
Introduction to the Ramsay Project
Gold Hydrogen Limited has made a significant breakthrough in its Ramsay Project, located on the Yorke Peninsula. The company has reported hydrogen and helium concentrations at surface, marking an international first for a non-petroleum system. This discovery is a major milestone in the exploration of natural hydrogen and helium resources.
The preliminary laboratory results have shown helium purity levels of up to 25%, which is 50,000 times the concentration found in the atmosphere. These levels are among the highest ever reported, and testing is ongoing to confirm these findings.
Stage 2 Exploration Testing
The initial results from Stage 2 exploration testing at the Ramsay 1 and 2 wells are highly promising. The tests indicate increasing purities of both natural hydrogen and helium at the surface. The Ramsay 2 well, in particular, has shown a significant increase in hydrogen levels as dewatering continues.
The Ramsay 2D seismic program's acquisition phase has been completed, with initial results showing that the data is suitable for selecting future well locations. This data will be crucial for the ongoing drilling program and future exploration efforts.
Partnership with Mizuho Bank
Gold Hydrogen has also signed a non-binding Memorandum of Understanding (MOU) with Mizuho Bank, a leading global Japanese corporate bank. This MOU aims to establish a framework for the development of their relationship, including future advisory assignments and the promotion of natural hydrogen and helium usage. Mizuho Bank has several Japanese energy industry clients interested in the sustainability benefits of these gases.
Future Prospects and Commercialization
The Ramsay Project has significant potential for both natural hydrogen and helium resources. The company believes that the promising results from the current exploration phase will lead to further discoveries in more optimal locations. The project's future wells are expected to demonstrate improved gas flow and purity levels.
Gold Hydrogen is committed to managing the environmental impact of its operations, including the handling of produced formation water in line with state government approval conditions. The company is optimistic about the long-term commercial prospects of the Ramsay Project, given the high value of helium and the energy content of natural hydrogen.
The announcement of high helium purity levels and significant hydrogen concentrations is likely to positively impact Gold Hydrogen's stock. The collaboration with Mizuho Bank further strengthens the company's position in the market. Investors may see this as a strong indicator of future growth and potential commercialization opportunities.
Investor Reaction:
Analysts are likely to view this announcement favorably, given the high purity levels of helium and the potential for significant natural hydrogen resources. The partnership with Mizuho Bank adds credibility and opens up new avenues for investment and collaboration. However, investors will be cautious about the inherent risks associated with the exploration and development of these resources.
Conclusion:
Gold Hydrogen's recent discoveries in the Ramsay Project represent a significant milestone in the exploration of natural hydrogen and helium. Investors should keep a close watch on further developments and consider the long-term potential of these resources. The company's strategic partnerships and ongoing exploration efforts are likely to yield valuable insights and opportunities for growth.