Any doubts...read RNS again13 Jun 2025 10:24
Karl Smithson, Executive Director of Hamak Gold commented:
"We are delighted to form this partnership with First Au Limited so we can rapidly advance the development of the Nimba exploration programme through efficient, cost-effective owner operated drilling.
"FAU has an excellent technical team that can lead the programme with the objective of further defining the extent of the high-grade Ziatoyah gold discovery with the ultimate aim of progressing towards a maiden resource declaration. The exploration expenditure will be fully funded by FAU, whilst Hamak Gold will simultaneously accrue value through the progressive issue of FAU shares over the next 12 months. The Company will also have possible future value accretion events in the event of a resource declaration at Nimba.
"The Board of Hamak Gold believes that, considering the persistently poor capital markets for small-cap resource companies, this deal with FAU represents value for shareholders both in the immediate and longer term.
"We also believe that this Agreement will be beneficial to Liberia, which actively seeks foreign direct investment, particularly in the resources sector, to bring to account its potential mineral wealth for the benefit of the country. Indeed