Hamak launches key drilling campaign at Akoko gold project in Ghana

Hamak Gold Limited ( (GB:HAMA) ) has provided an announcement.

Hamak Strategy Limited has begun a 4,125-metre reverse circulation drilling programme at its Akoko oxide gold project in southwest Ghana, targeting 72 holes across the Akoko North and South areas. The work is focused on the upper 80 metres of oxide material, with results to feed into the project’s first JORC-compliant mineral resource estimate and support studies for a low-cost open pit mine.

Independent consultants, including geologist Dr. Colin Andrew, will integrate new drilling with 16,000 metres of historical data to update the non-JORC 2016 estimate of 270,000 ounces of contained gold. Hamak is also engaging engineering groups to scope a preliminary economic assessment, which will examine mining and processing options, capital and operating costs, and cash flow, potentially advancing Akoko toward development and enhancing the company’s West African gold portfolio.

Spark’s Take on HAMA Stock

According to Spark, TipRanks’ AI Analyst, HAMA is a Neutral.

The score is primarily held back by weak financial performance (no revenue, ongoing losses, and negative cash flow), with only partial offset from a currently improved near-term technical setup. Valuation signals are also constrained by a negative P/E and the absence of a dividend yield.

To see Spark’s full report on HAMA stock, click here.

More about Hamak Gold Limited

Hamak Strategy Limited is a UK-listed gold exploration company focused on projects in Africa, notably Ghana, while also operating a digital asset treasury strategy that includes holding part of its reserves in Bitcoin. The company is not FCA-regulated, and its indirect crypto exposure adds volatility and high risk for shareholders, who are not covered by UK investor protection schemes.

Average Trading Volume: 2,108,569

Technical Sentiment Signal: Sell

Current Market Cap: £4.3M

Find detailed analytics on HAMA stock on TipRanks’ Stock Analysis page.