Hamak Strategy (LSE:HAMA) has selected Snowden Optiro as independent consultant for the Preliminary Economic Assessment (PEA) of its Akoko oxide gold project in southwest Ghana.
The company combines West African gold exploration with a Digital Asset Treasury strategy that holds part of its cash reserves in Bitcoin.
Snowden Optiro, with 35 years of experience and more than 14,000 completed technical assignments, will assess a conceptual open-pit mining operation using heap-leach processing on Akoko's near-surface oxide mineralisation.
The oxide zone hosts more than 120,000 ounces of gold within 50 metres of surface, largely classified in the measured and indicated resource category.
The NI 43-101 compliant study will cover mining, processing and infrastructure design, alongside capital and operating cost estimates and a financial model to gauge project returns. It will also include a review of the existing resource estimate, environmental and closure concepts, and an assessment of principal technical risks.
"We expect the PEA findings to determine the pathway to project financing and ultimate development of the asset," said CEO and Executive Director Karl Smithson.
Snowden's technical team will conduct a site visit to Akoko in early September, with the PEA results expected within three months of project start-up.
News Intelligence what this means for the company
Hamak Strategy has engaged Snowden Optiro to conduct a Preliminary Economic Assessment on its Akoko oxide gold project in Ghana, with results expected within three months. This is a routine but necessary step: the company declared a maiden 210,430 oz resource in July and said the PEA would examine a low-capex operation targeting at least 20,000 oz annual production; appointing an independent consultant to validate that concept and model project economics is standard practice for a junior explorer moving from exploration toward development.
The PEA is a gating milestone for project financing and development, but it is not a value-creating event in itself—it is a de-risking step that tests whether the oxide zone (which hosts more than 120,000 ounces within 50 metres of surface) can support an economically viable operation. Execution risk remains: the company must still secure financing and exercise its option to acquire 100% of Akoko by 14 December for US$1.9m cash plus £1m in shares, and no financing transaction has been finalised.
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