Australia's Gold Hydrogen at record high on project funding

Gold Hydrogen

07/12/2023 01:48

** Shares of Gold Hydrogen  GHY.AX  rise as much as 52% to
A$1.100, their highest since IPO debut
    ** The natural hydrogen gas developer completes
institutional placement raising A$14.8 mln ($9.70 million)
    ** Co adds placement was conducted at an issue price of
A$0.75 per share, a 5.1% discount to stock's last closing price
    ** Co says funds will be used to develop co's Ramsay project
    ** Co receives A$25 mln cash plus R&D tax refunds
    ** Stock set to post the biggest intraday pct gain since Nov
1
    ** About 1.5 mln shares change hands, compared with the
30-day average volume of 830,147

    ($1 = 1.5256 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))