Hamak Gold Limited (GB:HAMA)
LSE:HAMA
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Hamak Gold Limited
(LSE:HAMA)
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Rating:41Neutral
Price Target:
0.76 p
▼(-45.43% Downside)
Action:Reiterated
Date:05/07/26
The score is driven primarily by weak financial performance: a pre-revenue profile with recurring losses, ongoing cash burn, and higher leverage in 2025 that increases funding risk. Technicals also weigh on the score as the stock trades below major moving averages with a negative MACD. Valuation provides limited support because the company is loss-making (negative P/E) and no dividend yield is indicated.
Positive Factors
Focused exploration business model
Hamak’s clear early-stage exploration focus (acquisition, surveys, drilling) concentrates capital and technical efforts on advancing targets to development or transaction outcomes. This business model preserves optionality: successful discoveries can be monetized via partners or development, a durable value-creation route for resource explorers.
Negative Factors
Pre-revenue profile
No revenue across multiple years leaves Hamak fully dependent on external capital or partner transactions to fund operations. Without operating cash inflows, progress and valuation hinge on discovery outcomes or successful financing, a structural fragility that persists until commercial resources or recurring revenue are established.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused exploration business model
Hamak’s clear early-stage exploration focus (acquisition, surveys, drilling) concentrates capital and technical efforts on advancing targets to development or transaction outcomes. This business model preserves optionality: successful discoveries can be monetized via partners or development, a durable value-creation route for resource explorers.
Read all positive factors
Hamak Gold Limited (HAMA) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.73M
Dividend YieldN/A
Average Volume (3M)11.55M
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue GrowthN/A
EPS Growth28.30%
CountryUK
Employees8
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding452,134,500
10 Day Avg. Volume15,797,949
30 Day Avg. Volume11,553,240
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.93
Price to Sales (P/S)0.00
P/FCF Ratio-3.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hamak Gold Limited Business Overview & Revenue Model
Company Description
Hamak Gold Limited operates as a mining exploration and development company in Liberia. It owns interests in two gold mineral exploration licenses that cover an area of 1,752 square kilometers located in Nimba and Gozohn. The company was incorpora...
How the Company Makes Money
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Hamak Gold Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | ― | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.22M | -673.00K | ― | -3.70M | -147.52K |
| Net Income | -1.87M | -1.08M | -536.55K | -3.73M | -393.77K |
Balance Sheet | |||||
| Total Assets | 7.66M | 2.00M | 2.00M | 1.55M | 1.90K |
| Cash, Cash Equivalents and Short-Term Investments | 3.11M | 27.00K | 2.00K | 12.00K | 1.00K |
| Total Debt | 3.45M | 318.00K | 9.00K | 59.00K | 70.00K |
| Total Liabilities | 4.29M | 1.06M | 456.00K | 411.00K | 357.28K |
| Stockholders Equity | 3.38M | 930.00K | 1.55M | 1.14M | -355.38K |
Cash Flow | |||||
| Free Cash Flow | -904.59K | -382.00K | -715.00K | -1.16M | -77.00 |
| Operating Cash Flow | -880.08K | -359.00K | -302.00K | -567.00K | -77.00 |
| Investing Cash Flow | -2.35M | -23.00K | -413.00K | -590.00K | 0.00 |
| Financing Cash Flow | 6.40M | 407.00K | 705.00K | 1.17M | 78.00 |
Hamak Gold Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | £10.71M | -1.51 | -10.29% | ― | ― | ― | |
51 Neutral | £8.08M | 5.22 | -2.46% | ― | ― | 77.01% | |
49 Neutral | £10.22M | -4.29 | -110.53% | ― | ― | 54.38% | |
45 Neutral | £7.79M | -1.35 | -24.33% | ― | ― | 14.29% | |
41 Neutral | £3.73M | -1.67 | -86.67% | ― | ― | 28.30% |
* Basic Materials Sector Average
GB:HAMA
Hamak Gold Limited
0.83
0.32
65.00%
GB:ECR
ECR Minerals
0.24
0.01
6.82%
GB:XTR
Xtract Resources
0.90
0.08
9.76%
GB:CGNR
Conroy Gold and Natural Resources
10.50
6.50
162.50%
GB:PALM
Panther Metals Plc
117.50
79.50
209.21%
Hamak Gold Limited Corporate Events
Business Operations and Strategy
Hamak Strategy Hits High-Grade Near-Surface Gold at Ghana’s Akoko Project
Positive
May 11, 2026
Hamak Strategy Limited reported initial reverse circulation drilling results from the Akoko oxide gold project in southwest Ghana, with the first four holes intersecting high-grade, near-surface mineralisation, including 29.53 g/t of gold over 4 m...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Hamak Strategy pivots to dual gold and Bitcoin model after transformational year
Positive
Apr 30, 2026
Hamak Strategy Limited, formerly Hamak Gold, has repositioned itself as a West African gold explorer with an innovative treasury model that combines Bitcoin and physical gold holdings. The company operates the Nimba licence in Liberia and is advan...
Business Operations and Strategy
Hamak launches key drilling campaign at Akoko gold project in Ghana
Positive
Apr 15, 2026
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 oxid...
Business Operations and Strategy
Hamak Strategy Director Increases Stake as Company Reiterates Bitcoin-Linked Risk Profile
Neutral
Mar 26, 2026
Hamak Strategy Limited reported that Executive Director and Chief Strategy Officer Mike Murphy purchased 750,000 ordinary shares on 23 March 2026 at 0.769 pence per share, taking his total beneficial holding to 750,000 shares, or 0.17% of the comp...
Business Operations and Strategy
Hamak Strategy Signs Drilling Deal to Advance Akoko Gold Project in Ghana
Positive
Mar 23, 2026
Hamak Strategy Limited, a UK-listed gold exploration company active in Africa and operating a Bitcoin-linked treasury strategy, is advancing its Akoko oxide gold project in southwest Ghana on the Ashanti belt, near several multi-million ounce depo...
Business Operations and Strategy
Hamak Strategy Expands Bitcoin Treasury With New Purchases and Stake in Vaultz Capital
Positive
Mar 18, 2026
Hamak Strategy Limited has expanded its Bitcoin-focused treasury strategy with the purchase of three additional Bitcoin for £150,000, bringing its total holdings to 26 Bitcoin. The assets were acquired via FCA-regulated exchange and custodian...
Business Operations and StrategyM&A Transactions
Hamak Strategy Advances Akoko Gold Acquisition After Completing Due Diligence
Positive
Mar 3, 2026
Hamak Strategy Limited has completed due diligence on the Akoko Gold Project in Ghana’s prolific Ashanti belt and will move immediately toward finalising its acquisition, securing an option over a near-surface oxide resource that it believes...
Business Operations and StrategyExecutive/Board Changes
Hamak Strategy Names MBS Global CIO Billy Daly to Advisory Board to Bolster Gold and Bitcoin Strategy
Positive
Feb 19, 2026
Hamak Strategy Limited has appointed Billy Daly, Group Chief Investment Officer of Dubai-based MBS Global Investments, to its Advisory Board as it seeks to strengthen both its African gold exploration portfolio and its diversified Bitcoin treasury...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.