REG - Hamak Gold Limited - Update on Gold Joint Venture

Hamak GoldAnnouncement

24/07/2025 07:00

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RNS Number : 3226S  Hamak Gold Limited  24 July 2025

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24 July 2025

Hamak Gold Limited

("Hamak Gold" or the "Company")

 

Update on Gold Joint Venture

Hamak Gold Limited (LSE: HAMA) notes the press release issued yesterday by its
joint venture partner, ASX-listed First Au Limited (ASX: FAU), announcing the
commencement of a 3,000m drilling programme on the Nimba project in Liberia,
which is under joint venture with Hamak Gold.

Read more on the FAU announcement, here
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02969953-3A672071?access_token=83ff96335c2d45a094df02a206a39ff4)
.

Both Hamak Gold and FAU announced the terms of the joint venture on 21 May
2025. As part of the progressive earn-in rights by FAU over the Nimba licence,
FAU will make a first payment to Hamak Gold in early August of 100 million
fully paid ordinary shares in FAU (currently valued at A$600,000) and
A$250,000 in cash, subject to FAU shareholder approval at their AGM on 30 July
2025. In return, Hamak Gold will issue FAU a 35% interest in its subsidiary
company 79 Resources Inc that holds the Nimba licence.

Nick Thurlow, Chairman of Hamak Gold Ltd, commented:

"The FAU announcement, and the very marked increase in FAU's share price over
recent weeks, means that Hamak is now due to receive double the value in new
FAU shares it was initially due. Not only does this further boost the
Company's balance sheet, after our very successful fundraise two weeks ago,
but also provides additional cash resources for the Board to deploy on our new
Bitcoin as Treasury Management strategy.

"As FAU advances our fully-funded gold exploration activities on the ground,
we remain committed to complementing this with our forward-looking digital
asset policy designed to enhance capital efficiency and provide shareholders
with diversified exposure to value. Shareholders can look forward to a number
of material developments in this area of our activities in the near future."

For further information you are invited to view the Company's website at
www.hamakgold.com or please contact:

 Hamak Gold Limited

 James Lawrence                                 j.lawrence@hamakgold.com

 Nick Thurlow                                   n.thurlow@hamakgold.com

 Karl Smithson                                  k.smithson@hamakgold.com
 Peterhouse Capital Limited (Corporate Broker)  +44 (0) 20 7469 0930

 Yellow Jersey PR

 Annabelle Wills                                +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 Bitcoin (BTC) and
crypto treasury management policy. Through its listing on the main market of
the London Stock Exchange, the Company offers investors a professionally
managed vehicle to gain exposure to the cryptocurrency asset class.

 

 

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