Primary Hydrogen Balances Land Grab and Drill Permits as Wicheeda North Countdown Starts

Primary Hydrogen expands natural hydrogen and rare earths ground while scheduling a 1,500-metre maiden drill program at Wicheeda North.

Primary Hydrogen has spent the past month doing two things at once: stitching together new ground for natural hydrogen and rare earths, and steering its flagship British Columbia target toward a maiden drill test. The dual track has kept the explorer in the headlines even as the broader market turned hostile to speculative names.

A 37.7% Single-Session Slide Sets the Tone

Geopolitical friction around Iran rippled through international commodity markets early in the month, according to media reports. Rising crude prices and climbing bond yields pushed investors toward risk-off positioning, and junior explorers bore the brunt. Primary Hydrogen shed 37.698% in a single trading day — a reminder of how heavily small development companies depend on general risk appetite. Bounce-back sessions followed, with intraday gains exceeding 14% at points, but the trading range stayed wide.

Ground Position Grows on Two Fronts

Operationally, the company kept adding to its portfolio. Roughly a month ago it picked up the Seagull-North project in northwestern Ontario, a parcel sitting directly adjacent to active drilling for natural hydrogen and helium. A few weeks later came a second addition in the Cumberland Basin of Nova Scotia: the Wallace project, covering 68 claims across approximately 1,101 hectares. That marks Primary Hydrogen's second venture in the natural hydrogen exploration area, following its existing Northumberland project. The moves broaden the company's footprint in regions drawing increasing geological attention, with the aim of widening the base and improving the odds of encountering commercially viable deposits.

Wicheeda North: A 1,500-Metre Test of 2025 Anomalies

The rare earths side of the business now commands the operational calendar. At Wicheeda North, preparatory field work is essentially wrapped up, and the company has scheduled its first-ever drill program for approximately 1,500 metres. The campaign is set to begin on 01.10.2026 and run through 01.11.2026, targeting surface anomalies identified on the property. Those anomalies were discovered in 2025, and the upcoming program will test them underground for the first time. Primary Hydrogen has completed the initial phase of soil sampling and has contracted the necessary service providers. Precision GeoSurveys Inc. has been engaged for an airborne radiometric survey, meaning every component of the Wicheeda North work program is either already in the field or contractually locked in.

Shareholders Sign Off on Board, Auditor and Pay Overhaul

Management secured investor backing at the annual and special meeting held about a week ago. All resolutions passed. Four directors were re-elected, and shareholders approved the reappointment of the existing auditor, preserving continuity on the oversight side. Investors also greenlit a new compensation framework for executives and staff, comprising a rolling component of up to 10% alongside a fixed component of up to 10%. Since the votes were confirmed, the stock has added 4.9%.

Where the Share Price Stands

In Monday's session the paper gave back 2.0%, closing at EUR 0.7450 — below its 50-day average of EUR 0.8585. In today's trading on German venues the stock is quoted at EUR 0.7300, a gain of 5.0%, though it remains under that same 50-day line of EUR 0.8587. What happens next hinges largely on the drill results and the radiometric survey data from Wicheeda North.