Business
Signs Binding Term Sheet for Gold Project in Ghana
Hamak Strategy Limited has entered into a binding term sheet to acquire the Akoko gold licence in Ghana, which holds an inferred gold resource of 276,500 ounces, with potential for low-cost open pit mining. Hamak will pay £20,000 for a 120-day exclusivity period to conduct due diligence, after which a minimum expenditure of £500,000 is committed for further exploration in 2026. If due diligence is satisfactory, the acquisition involves a £50,000 cash payment, £1 million in Hamak shares, and a US$1.9 million payment to Topago. The proposed acquisition price is estimated at US$8 to US$10 per ounce of gold. Disclaimer*
About this update from Hamak Strategy Limited
[{"type":"text","content":"\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n3 December 2025\n\nHamak Strategy Limited\n\n(\"Hamak\" or the \"Company\")\n \nHamak Signs Binding Term Sheet for 276,500 ounce Gold Project in Ghana\n \nHamak Strategy Ltd. (LSE: HAMA / OTCQB: HASTF), a company combining traditional gold exploration in Africa with a Digital Asset Treasury Management strategy, is pleased to announce that it has entered into a Binding Term Sheet (\"Term Sheet\") with UK registered private company, CAA Mining Limited (\"CAA\"), which holds a purchase option with a private Ghanian company, Topago Mining Limited (\"Topago\"), to acquire the highly prospective Akoko gold licence in Ghana (\"Akoko\"). Significant historical work on Akoko led to the definition of an Inferred gold resource of 276,500 ounces, much of which is hosted in surficial and highly weathered oxide material that may be amenable to low-cost open pit mining and heap leach gold recovery. \n \nHighlights:\n \n· Historical work by CAA and others has identified an Inferred gold resource at Akoko of 276,500 ounces of contained gold at a grade of 1.6 grammes per tonne (\"g/t\").\n· Initial due diligence conducted by Hamak, based upon the CAA data room, has returned very positive results, even using a more conservative modelling approach, to define a robust, indicated gold resource of 252,659 ounces of contained gold at an average grade of 0.58g/t.\n· Hamak will pay CAA £20,000 for a 120-day exclusivity period to conclude technical and legal due diligence on Akoko.\n· Subject to a successful outcome of the due diligence, Hamak will commit to spend a minimum of £500,000 on further exploration and confirmatory work at Akoko during 2026 with the objective to define, with enhanced confidence and potentially increase, the gold resource at Akoko, and conduct an economic scoping study for an open pit, heap-leach gold mining operation.\n· Subject to satisfa...