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Hamak Gold Limited
(LSE:HAMA)
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Rating:42Neutral
Price Target:
0.58 p
▼(-17.00% Downside)
Action:Reiterated
Date:09/23/26
The score is primarily constrained by weak financial performance: no revenue, ongoing losses, negative free cash flow, and increased 2025 leverage that heightens external funding risk. Technicals also pressure the score as the price is below key moving averages with negative MACD, while valuation provides limited support given a negative P/E and no dividend yield data.
Positive Factors
Exploration Asset Base
A focused West African exploration portfolio gives Hamak a defined pathway to create value through discovery and evaluation. Successful geological work could advance prospects toward economic viability, although the company remains at an early exploration stage.
Negative Factors
No Revenue Base
The absence of reported revenue means Hamak has not demonstrated a commercial operating base or recurring income stream. Its financial outlook therefore remains dependent on exploration progress and access to external capital rather than internally generated sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Exploration Asset Base
A focused West African exploration portfolio gives Hamak a defined pathway to create value through discovery and evaluation. Successful geological work could advance prospects toward economic viability, although the company remains at an early exploration stage.
Read all positive factors
Hamak Gold Limited (HAMA) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.63M
Dividend YieldN/A
Average Volume (3M)2.23M
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue GrowthN/A
EPS Growth46.23%
CountryUK
Employees6
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding506,538,900
10 Day Avg. Volume3,105,792
30 Day Avg. Volume2,225,602
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 Strategy Limited is a mining exploration and development company that operates in Liberia, exploring for gold deposits. The company holds mineral exploration licenses in areas including Nimba. It also has business operations in digital treas...
How the Company Makes Money
Hamak Gold Limited does not have publicly available information indicating ongoing revenue from gold production or operating mines; therefore, its current revenue model is not clearly disclosed. null...
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 Technical Analysis
Negative
0.70
Price Trends
0.64
Negative
0.70
Negative
0.90
Negative
Market Momentum
-0.03
Positive
47.28
Neutral
34.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HAMA, the sentiment is Negative. The current price of 0.7 is above the 20-day moving average (MA) of 0.62, above the 50-day MA of 0.64, and below the 200-day MA of 0.90, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 47.28 is Neutral, neither overbought nor oversold. The STOCH value of 34.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HAMA.
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% | |
50 Neutral | £17.26M | -6.21 | -62.33% | ― | ― | 54.38% | |
44 Neutral | £13.65M | -4.17 | -11.84% | ― | -100.00% | -130.00% | |
44 Neutral | £7.47M | -37.21 | -0.55% | ― | ― | 77.01% | |
43 Neutral | £6.78M | -4.13 | -23.57% | ― | ― | ― | |
42 Neutral | £2.63M | -0.63 | -116.27% | ― | ― | 46.23% |
* Basic Materials Sector Average
GB:HAMA
Hamak Gold Limited
0.61
-2.75
-81.94%
GB:ECR
ECR Minerals
0.16
-0.13
-44.83%
GB:XTR
Xtract Resources
1.00
0.10
11.11%
GB:CGNR
Conroy Gold and Natural Resources
8.00
-2.50
-23.81%
GB:PALM
Panther Metals Plc
155.00
77.50
100.00%
Hamak Gold Limited Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Hamak Sells Bitcoin to Drive Akoko Gold Assessment and Cut Debt
Positive
Sep 21, 2026
Hamak Strategy Limited has sold 8 Bitcoin for gross proceeds of £482,516, capitalising on recent price appreciation to fund work on the Preliminary Economic Assessment at its Akoko Gold Project in Ghana, reduce short-term debt and bolster wor...
Business Operations and StrategyDelistings and Listing Changes
Hamak Strategy Corrects Warrant Exchange Figures, Lifts Share Count
Neutral
Sep 9, 2026
Hamak Strategy Limited has corrected figures tied to its ongoing warrant exchange offer, which converts eligible warrants into new ordinary shares. The company now reports that 192,370,375 warrants will be cancelled and exchanged for 38,474,075 ne...
Business Operations and StrategyDelistings and Listing Changes
Hamak Strategy Exits OTCQB to Focus on Gold Projects and Crypto Treasury
Negative
Sep 1, 2026
Hamak Strategy Limited has withdrawn its shares from trading on the U.S. OTCQB Market after determining that the costs of maintaining the quotation were not justified by the low level of trading activity. The company will continue to focus resourc...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Hamak Strategy Expands Share Capital Through Subscription and Warrant Exchange
Neutral
Aug 27, 2026
Hamak Strategy Limited has applied for admission to trading on the London Stock Exchange of 58,474,075 new ordinary shares, expanding its issued share capital to 510,612,474 shares. The new stock includes 25,000,000 shares from a £200,000 sub...
Business Operations and Strategy
Hamak Strategy Hires Snowden Optiro for Akoko Gold Project PEA
Positive
Aug 13, 2026
Hamak Strategy Limited, a UK-listed gold exploration company active in West Africa with a Bitcoin-based digital asset treasury policy, is advancing its flagship Akoko oxide gold project in southwest Ghana. The firm’s portfolio combines early...
Business Operations and StrategyFinancial Disclosures
Hamak Strategy Unveils Maiden NI 43-101 Resource at Ghana Akoko Gold Project
Positive
Jul 29, 2026
Hamak Strategy Limited has reported a maiden independent NI 43-101 mineral resource estimate for its Akoko Oxide Gold Project in Ghana, outlining 210,430 ounces of gold at an average grade of 0.76 g/t. Nearly half of this inventory is in the highe...
Business Operations and StrategyPrivate Placements and Financing
Hamak Strategy Slashes Warrant Overhang with 80% Cut to Potential Shares
Positive
Jul 27, 2026
Hamak Strategy Limited has completed a voluntary warrant exchange offer, with shareholders tendering 179,906,090 eligible warrants for surrender and cancellation, far above the 100,000,000 minimum threshold. At the agreed one-for-five exchange rat...
Business Operations and Strategy
Hamak Strategy Clears Key Threshold in Warrant Exchange to Streamline Capital Structure
Positive
Jul 20, 2026
Hamak Strategy Limited has surpassed the minimum acceptance threshold for its voluntary warrant exchange offer, receiving elections for more than 100 million eligible warrants. These surrendered warrants are expected to be cancelled and converted ...
Business Operations and Strategy
Hamak Strategy Moves to Slash Warrant Overhang and Future Dilution
Positive
Jul 15, 2026
Hamak Strategy Limited has launched a voluntary warrant exchange offer to holders of its 0.8p warrants, allowing investors to swap five eligible warrants for one new ordinary share. The board aims to address shareholder concerns about an overhang ...
Business Operations and StrategyShareholder Meetings
Hamak Strategy backs Vaultz Capital’s shift from Bitcoin focus while warning on crypto risk
Positive
Jul 14, 2026
Hamak Strategy Limited has disclosed that it holds 6.5 million shares in Vaultz Capital and views this stake as both a financial and strategic investment, offering exposure to a listed vehicle whose assets have been significantly backed by Bitcoin...
Business Operations and Strategy
Hamak Strategy Moves to Slash Warrant Overhang With Voluntary Exchange Offer
Positive
Jul 13, 2026
Hamak Strategy Limited has launched a voluntary warrant exchange offer for holders of its 0.8p warrants, aiming to simplify its capital structure and address shareholder concerns about a large warrant overhang that has weighed on sentiment. The of...
Business Operations and StrategyPrivate Placements and Financing
Hamak seals £200,000 Verdant stake and appoints adviser for Akoko financing push
Positive
Jul 9, 2026
Hamak Strategy Limited has secured a £200,000 strategic subscription from Verdant International Limited at 0.8 pence per share, a 23% premium to its latest closing price, giving Verdant a 5.24% stake. The deal deepens ties with a major Africa...
Business Operations and Strategy
Hamak Strategy Posts High-Grade Gold Hits as Akoko Resource Nears Completion
Positive
Jul 8, 2026
Hamak Strategy Limited has reported further high-grade reverse circulation drilling results from the Akoko South licence area in Ghana, including 4 metres at 6.46 grams per tonne gold with a 1-metre interval at 20.03 grams per tonne. The latest as...
Business Operations and StrategyPrivate Placements and Financing
Hamak Restructures £1.66m Loan to Remove Convertible Debt and Boost Flexibility
Positive
Jul 2, 2026
Hamak Strategy Limited has restructured its financing with institutional investor Yorkville Advisors by converting the remaining balance of a prior £2.5 million convertible loan note into a £1.66 million non-convertible loan. The facilit...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
Hamak Strategy Wins AGM Backing as Akoko Gold Results Bolster Growth Plans
Positive
Jun 25, 2026
Hamak Strategy Limited, which combines West African gold exploration with a Bitcoin-based digital asset treasury strategy, reported that all resolutions at its 25 June 2026 Annual General Meeting were passed on a poll, with around 21% of the issue...
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.