Sale of 8 Bitcoin Supports Advancing of Akoko PEA
Summary by AI BETAClose X
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
21 September 2026
Hamak Strategy Limited
(“Hamak” or the “Company”)
Sale of 8 Bitcoin Supports Advancing of Akoko PEA
Hamak Strategy Limited (LSE: HAMA), a Company pursuing a dual strategy of gold exploration in West Africa and disciplined Bitcoin treasury management, is pleased to announce that, following the recent price appreciation of Bitcoin (“BTC”) it has completed the sale of 8 BTC on 18 September 2026 at a price of £60,314.54 (approximately $80,671) per BTC, generating gross proceeds of £482,516.32.
The proceeds will be used to progress the Preliminary Economic Assessment (“PEA”) at its Akoko Gold Project in Ghana as well as retire a portion of the Company’s existing debt, and for general working capital purposes. The sale is solely intended to address these short-term funding objectives and leaves Hamak’s longer-term commitment to both gold and Bitcoin unchanged.
Highlights
- £482,516 raised through sale of 8 BTC
- 18 BTC, valued at approximately £1,075,000, retained in treasury
- Funding will support the advancement of the Akoko PEA as well as retire some short-term debt
Akoko PEA Progress
Several Snowden Optiro (“Snowden”) technical consultants have recently completed a site visit to the Akoko gold project where they reviewed the project, site logistics and mineral resource areas that will be included in the overall study for an open-pit, heap-leach gold mining operation. Following on from this visit, Snowden will now generate proposed open pit mining shells and determine an appropriate mine schedule for possibly two open pits at Akoko North and South respectively. The pit shells will primarily be focused on the 124,000-ounce gold oxide resource contained from surface to a depth of 50m.
A detailed drone survey is scheduled to be flown to provide a centimeter accurate topographic profile, which will assist Snowden in determining the optimum infrastructure footprint to support the recommended open pit, to include access and haul roads, location of ore and waste dumps, heap leach pads and processing and recovery plants.
Snowden will also be recommending further metallurgical test work on material contained within these proposed pits, utilizing a combination of Hamak’s recent drill samples as well as collecting material from mineralized pit faces exposed from certain artisanal gold mining activity. Previous metallurgical test work on fine bottle roll test work returned between 85-95% gold recovery rates.
Gold and Bitcoin strategy reaffirmed
Hamak’s dual strategy combines the advancement of its gold assets with long-term exposure to Bitcoin through its treasury. The sale represents a targeted use of part of that treasury to meet current funding requirements and support progress at the key Akoko Gold Project in Ghana.
Hamak retains 18 BTC, currently valued at £1,075,000, under its existing custody and security arrangements.
Mike Murphy, Chief Strategy Officer and Executive Director of Hamak, commented:
“This is a purposeful step forward for Hamak. Our Bitcoin treasury gives us financial flexibility, and we are using a measured portion of it to support advancing the Akoko PEA as well as reduce debt and provide short-term working capital. We retain 18 BTC and remain firmly committed to Bitcoin as a core part of our strategy.
“Akoko is a priority of Hamak. Supporting the PEA will help us assess the project’s development potential and make informed decisions about its future.
“I am very positive about Hamak’s future. We have a clear direction: advance our gold assets and maintain a meaningful Bitcoin treasury. Both remain central to our ambition for the Company. Our focus now is on turning that strategy into progress for shareholders, with disciplined financial management and delivery at Akoko.”
For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of Hamak is Karl Smithson, CEO and Executive Director.
For further information on Hamak, please visit https://hamakstrategy.com/ or contact:
|
Hamak Strategy Limited |
k.smithson@hamakstrategy.com |
|
AlbR Capital Limited (Corporate Broker) |
+44 (0) 20 7469 0930 |
|
Yellow Jersey PR |
+44 (0) 20 3004 9512 |
About Hamak Strategy Limited
Hamak Strategy Limited (LSE: HAMA) is a UK-listed company pursuing a dual strategy of gold exploration in Africa and disciplined Bitcoin treasury management.
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 has 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 supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and commingling 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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 52 minutes ago Frasers Group
- 52 minutes ago Cavendish Financial
- 52 minutes ago Diaceutics
- 52 minutes ago AB Dynamics
- 14 hours ago Johnson Matthey