Gold Hydrogen (ASX:GHY) shares have seen a notable increase of up to 7.3%, reaching A$0.220.

This signifies the company’s best performance since September 12th, assuming the gains persist.

The surge comes after Gold Hydrogen (ASX:GHY) announced that it received approval from the South Australian government to commence operations and construction at their Ramsay natural hydrogen project in South Australia.

Additionally, they have obtained clearance for operations at the Ramsay 1 well site drilling pad.

The construction of the well pad is projected to initiate on September 28th at the Ramsay 1 site.

The principal aim of the Ramsay 1 well is to verify the existence of hydrogen in subsurface geological formations, according to Gold Hydrogen (ASX:GHY).

However, despite the encouraging news, the stock continues to struggle, down 60% since it was first listed on January 13th.

Gold Hydrogen (ASX:GHY) is a hydrogen explorer company focused on uncovering natural hydrogen deposits.