Nimba Joint Venture Update
Summary by AI BETAClose X
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26 August 2025
Hamak Gold Limited
("Hamak Gold" or the "Company")
Nimba Joint Venture Update
Hamak Gold Limited (LSE: HAMA), a company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy, is pleased to announce an update on its Liberia Nimba project joint venture with ASX Listed First Au Limited ("FAU").
Highlights
· Stage1 payment of A$250,000 and issue of 100 million FAU shares (currently valued at A$500,000) completed in return for a 35% interest in the Nimba project
· A 3,000m drilling programme is underway at Nimba, with two holes (520m) completed
· FAU to fund the continued drilling and exploration programme and make further shares/cash payments as part of the progressive joint venture earn-in
Nick Thurlow, Executive Chairman of Hamak Gold, commented:
"The joint venture with FAU over our Nimba project has made good progress with the onset of the 3,000m drilling campaign. The programme is being fully funded by FAU and therefore preserves cash within the Company to simultaneously continue with its digital asset treasury management strategy. The Stage-1 funds and shares received from FAU will further strengthen our balance sheet.
"The FAU shares are subject to a voluntary six month lock in as Hamak Gold sees the accretive value of the shares if the drilling and exploration programme at Nimba are successful, as we fully expect.
"We will continue to assess additional gold projects that can be acquired and contribute to our stated duel strategy of being a significant gold and bitcoin treasury management Company."
For further information you are invited to view the Company's website at www.hamakgold.com or please contact:
|
Hamak Gold Limited Nick Thurlow Karl Smithson |
n.thurlow@hamakgold.com k.smithson@hamakgold.com |
|
Peterhouse Capital Limited (Corporate Broker) Yellow Jersey PR Annabelle Wills |
+44 (0) 20 7469 0930
+44 (0) 20 3004 9512 |
About Hamak Gold Limited
Hamak Gold Limited (LSE: HAMA) is a UK listed company focussed on gold exploration in Africa and with a strategy of pursuing a BTC/ crypto treasury management policy. Through its LSE main board listing investors underweight crypto can get professional exposure to this asset class.
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