Hamak Gold interim loss widens as highlights Nimba project
Hamak Gold Ltd on Monday announced a widened loss as it highlighted that drilling was underway at the Nimba project in Liberia.
The gold exploration firm with licences in Liberia said pretax loss widened to $397,000 in the first half of 2025 from $306,000 a year prior.
Executive Chair Nick Thurlow said: ‘Alongside significant progress at Nimba, where drilling is now underway following our joint venture with First Au Ltd [FAU], we have also launched a bitcoin treasury strategy, designed to strengthen and diversity our balance sheet. These combined initiatives position the company for accelerated growth through the remainder of 2025, with the dual focus of our gold assets and new bitcoin treasury strategy to deliver value to Hamak Gold and its shareholders.’
Separately, last week Tuesday, Hamak Gold announced that a stage 1 payment of A$250,000 was completed in return for a 35% stake in the Liberia Nimba project.
Further, a 3,000 metre drilling programme is underway at Nimba, with two holes completed. The company expects the programme to complete in 2025.
Thurlow said: ‘The joint venture with FAU over our Nimba project has made good progress with the onset of the 3,000 metre 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.’
Hamak Gold shares fell 18% to 3.43 pence each late Monday morning in London.
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