REG - Hamak Strategy Ltd. - Operational Update

Hamak StrategyAnnouncement

30/01/2026 07:00

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RNS Number : 0018R  Hamak Strategy Limited  30 January 2026

 

 

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30 January 2026

Hamak Strategy Limited

("Hamak" or the "Company")

 

Operational Update

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) a company combining
traditional gold exploration in Africa with a Digital Asset Treasury
Management strategy, announces an update on its gold exploration operations.

Summary

·    Final due diligence on the 250,000oz gold Akoko project in Ghana
progressing well

·    Nimba Joint Venture (JV) with First Au Limited (FAU) restructured
following announcement by  FAU refocusing its strategy exclusively on Western
Australia

o  Hamak to resume 100% of Nimba gold project in Liberia for zero initial
payment, having benefitted from over A$600,000 of exploration expenditure by
FAU on the project.

·     Advanced discussions with potential new partner for Nimba are
ongoing

Executive Director Karl Smithson commented:

"Hamak has had a busy start to 2026 operations on multiple fronts, involving a
site visit and due diligence on the Akoko project in Ghana and geochemical
soil sampling on the Nimba project in Liberia.  However, the decision by our
JV partner FAU to withdraw from all international activities provides the
opportunity for Hamak to resume 100% ownership of the highly prospective Nimba
gold project, for zero cost, at a time of record gold prices, and it
undoubtedly enhances our differentiated gold and bitcoin strategy.

"We will now restructure the Nimba project, against a backdrop of a 68%
increase in the spot gold price since the creation of the FAU JV last year,
whilst also actively pursuing the due diligence on the high priority Akoko
gold project in Ghana, which we look forward to providing further updates on
in due course.

"As a result of the rapid and intendend build-up of our activities, we are
also formulating a new board and management team to take the business strategy
forward, and will announce these changes in the near future."

Nimba Project

Hamak and ASX listed First Au Limited (ASX:FAU) have mutually agreed to
terminate the Nimba JV agreement entered into in May 2025, and Hamak will
re-acquire 100% of the project with immediate effect, for nil initial
payment,. FAU has announced, earlier today, its intention to exclusively focus
its efforts on domestic, Western Australia activities and has therefore made
the strategic decision to withdraw from all its overseas projects, including
the Nimba project in Liberia.

During the initial nine months of the JV, FAU has significantly advanced the
understanding of the structural geology of the Nimba project, through
geological mapping, sampling and the drilling of eleven holes for 1,570
metres. The first two holes drilled intersected wide zones of gold
mineralisation of 29m at 1g/t Au and 8m at 2.6g/t Au*, which supported Hamak's
previous best intersection of 20m at 7g/t Au. Subsequent holes targeting
certain structural features have however failed to intersect any meaningful
mineralsation with low tenure gold returns only. The defined 5km x 1km strong
gold in soil anomaly remains to be explained by the limited drilling
undertaken to date and further work is required.  Detailed geochemical soil
sampling is ongoing by Hamak over the area of interest to better define future
drill targets.

During the JV, FAU has expended over A$600,000 on the project. In addition,
Hamak has received 100m shares in FAU as well as A$250,000 in cash, in return
for issuing FAU a 35% interest in the Nimba project. Both Hamak and FAU have
agreed that the 35% interest in Nimba will be returned to Hamak in return for
a future Net Smelter Royalty of 2%, which Hamak can repurchase at the
production stage for US$1 million for each percentage. Hamak has agreed to
sell its 100m shares in FAU off market for A$750,000, being a 17% discount to
the 15 day VWAP of the FAU share price. Hamak wil receive the full A$750,000
cash receipts when shares are released from escrow on the 26 February 2026.

Hamak is currently in advanced discussions with a potential new joint venture
partner to further advance the Nimba project and updates will be announced on
this in the near future.

*refer to announcement dated 8 October 2025

Akoko Gold Project; Ghana

After a successful site visit to the Akoko project in early January by
executive Director Karl Smithson, the due diligence process has progressed
well and should conclude in the near future. This includes engagement of an
independent legal firm to confirm the validity of the licence tenure.
Furthermore, following meetings with a number of drilling companies, Hamak is
in the process of appointing an experienced drilling company to undertake a
planned 4,250m of reverse circulation drillilng to not only confirm but also
enhance the confidence in the geological resource, which is currently declared
at in excess of 250,000 ounces gold near surface, and which it is believed is
amenable to a potential low-cost low-strip ratio open pit heap leach mining
operation.

Presently a detailed topographical survey is being conducted across the main
areas of gold interest and engagements with the local communities and
chiefdoms are ongoing, all in advance of the onset of drilling operations
should the due diligence be successfully concluded.

Board and Management Changes

During January the Company has been actively working towards implementing
numerous appointments and changes to its board, advisory board and management
team to provide a coherent and effective team to drive the corporate strategy
over the coming months and years.  These appointments and changes will be
announced to the market in the near future.

For the purposes of UK MAR, the person responsible for arranging release of
this announcement on behalf of Hamak is Karl Smithson, Executive Director.

For further information on Hamak you are invited to view the company's website
at https://hamakstrategy.com/ (https://hamakstrategy.com/) or please contact:

 

 Hamak Strategy Limited

 Karl Smithson                            k.smithson@hamakstrategy.com (mailto:k.smithson@hamakstrategy.com)
 AlbR Capital Limited (Corporate Broker)  +44 (0) 20 7469 0930

 Yellow Jersey PR

 Annabelle Wills                          +44 (0) 20 3004 9512

About Hamak Strategy Limited

 

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) is a UK listed company
focussed on gold exploration in Africa and with a strategy of pursuing an
appropriate and compliant BTC/ crypto treasury management policy.

Important Notice

The Company maintains some of its treasury reserves and surplus cash in
Bitcoin, a form of cryptocurrency. The Company is not authorised or regulated
by The Financial Conduct Authority (FCA) and Bitcoin investments are generally
not subject to regulation by the FCA or otherwise in the United Kingdom.
Neither the Company nor investors in the Company's shares are protected by the
UK's Financial Ombudsman Service or the Financial Services Compensation
Scheme.

However the FCA considers Bitcoin investments to be high-risk. The value of
Bitcoin can go up as well as down, leading to fluctuations in the value of the
Company's Bitcoin holdings, and the Company may not be able to realise its
Bitcoin holdings for the same amount it paid to acquire them, or even for the
value the Company currently attributes to its Bitcoin positions.

The Company's Board of Directors have identified the following risks in
relation to the holding of Bitcoin, which are not exhaustive:

•        The value of Bitcoin can be highly volatile, with its value
falling as quickly as it rises. Investors in Bitcoin must be prepared to lose
all money invested.

•        The Bitcoin market is largely unregulated. There is a risk of
losing money due to factors such as cyber-attacks, financial crime, and
counterparty failure.

•        The Company may not be able to sell its Bitcoin at will. The
ability to sell Bitcoin depends on various factors, including the supply and
demand in the market at the relevant time. Operational failings such as
technology outages, cyber-attacks, and comingling of funds could cause
unwanted delays.

•         Cryptoassets carry a perception of fraud, money laundering,
and financial crime.

An investment in the Company is not an investment in Bitcoin itself, but
prospective investors in the Company are encouraged to conduct their own
research before investing and should be aware that they will have indirect
exposure to the high-risk nature of cryptoassets, including their volatility,
and could therefore sustain large or total losses of their investment.

 

 

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