Hamak Strategy (LSE:HAMA), the London-listed junior miner pursuing a dual strategy of West African gold exploration and Bitcoin treasury management, reported interim results for the six months to 30 June covering a period in which it completed due diligence on its Akoko gold project in Ghana and drilled 48 reverse circulation holes totalling 2,514 metres.
That drilling, combined with historical data, underpinned a maiden NI 43-101 compliant mineral resource estimate of 210,430 ounces of gold at 0.76 g/t, with 49% classified in the measured and indicated category and 124,000 ounces hosted in oxide material within 50 metres of surface at 0.81 g/t.
Initial metallurgical work indicated gold recoveries of between 85% and 94%, and the resource remains open at depth and along strike.
The company also resumed 100% ownership of its Nimba gold project in Liberia after partner First Au withdrew in the first quarter, retaining a future 2% production royalty, and sold its First Au shareholding for A$750,000.
On its treasury strategy, Hamak purchased six Bitcoin during the period, taking holdings to 26 BTC, alongside 1.65 kilograms of physical gold and 6.5 million shares in listed Bitcoin company Vaultz Plc.
"The first half of 2026 proved to be a very active and productive period for Hamak," said Nicola Horlick, non-executive chair, adding that the company expects results from its Preliminary Economic Assessment at Akoko "before year end."
Since the period end, Hamak restructured its convertible loan with Yorkville Advisors into a £1.66 million non-convertible amortising loan, now reduced to £1.43 million following partial repayment, and sold 8 Bitcoin for gross proceeds of £482,516.32 to fund the PEA, retire debt and support working capital, retaining 18 BTC.
Snowden Optiro has been engaged to conduct the PEA on a shallow open-pit, heap-leach operation at Akoko.