Primary Hydrogen Stakes 68 Claims in Nova Scotia While Wicheeda North Counts Down to Spud
Published on 09/12/2026 at 08:20 | Editorial boerse-global.de
Primary Hydrogen Corp. has widened its footprint in Atlantic Canada, picking up four exploration licences covering 68 claims and roughly 1,101 hectares at the Wallace Natural Hydrogen Project in Nova Scotia. The late-August acquisition lifts the company's holdings in the Cumberland Basin to six licences and 140 claims spanning about 2,267 hectares — nearly doubling its licence count in the region.
Wallace follows the Northumberland Project, which Primary Hydrogen had billed as its first venture in the Cumberland Basin. Together the two properties give the explorer a second geological target area alongside its flagship British Columbia asset, Wicheeda North.
Wicheeda North prep work stays on schedule
At Wicheeda North, the first round of soil sampling is finished and the samples have been sent to the lab. A second sampling phase is already under way and should wrap up by September 23.
Precision GeoSurveys has been handed the contract for a 738-line-kilometre airborne radiometric survey, due for completion on September 20, with initial results expected before the month is out. Radius Drilling will handle the main event: a maiden drill program of about 1,500 metres starting October 1 and finishing by November 1. It would be the first drilling ever carried out on the property.
Should investors sell immediately? Or is it worth buying PRIMARY HYDROGEN?
The confirmed start date matters for investors because the stretch between a program's announcement and the first turn of the bit is traditionally a period of elevated uncertainty. Completed preparatory work trims at least some of the operational risk of a delay.
Share price gives back recent gains
The market has not mirrored the operational momentum. The stock closed Friday at EUR 0.8300, down 2.9% on the day from Thursday's EUR 0.8550 close, leaving it lower on the week despite a 14% gain over the same period in the primary report's framing. Over 30 days the shares are off 6.7%.
The paper sits roughly 48% below its 52-week high of EUR 1.59, touched at the end of August, while still well above its 52-week low of EUR 0.45 from March. That leaves the stock oscillating in a volatile band between spring lows and late-summer highs, without a clear near-term direction.
Sector tailwind builds behind the story
The Nova Scotia expansion lands in an industry drawing heavy investment interest. The Hydrogen Council's latest Global Hydrogen Compass 2026 puts committed worldwide investment in the hydrogen sector at more than USD 130 billion, spread across over 570 projects. For a small explorer like Primary Hydrogen, that backdrop could mean friendlier terms for future financing rounds — provided the drill results at Wicheeda North deliver.
Several dates now cluster on the calendar: the radiometric survey's completion on September 20, the end of the second sampling phase on September 23, and the October 1 spud. Each milestone feeds fresh data, and each is likely to shape how the shares trade in the weeks ahead.
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