Hamak Gold Signs Term Sheet for Ghana Gold License Purchase

05:17 AM EST, 12/03/2025 (MT Newswires) -- Hamak Gold (HAMA.L) signed a binding term sheet to acquire a gold license in Ghana from CAA Mining, according to a Wednesday filing. The gold exploration company will pay 20,000 pounds sterling to CAA Mining, which holds an option with local company Topago Mining to acquire the Akoko gold license, for a 120-day exclusivity period to conclude technical and legal due diligence on the license. Subject to successful due diligence and a 500,000 pound confirmatory work at the license by Hamak, it will have the right to acquire the license before Dec. 14, 2026, by paying 50,000 pounds in cash to CAA Mining, issuing 1 million pounds of new shares to CAA Mining, and paying $1.9 million to Topago. Historic studies at Akoko identified an inferred gold resource of 276,500 ounces of contained gold, Hamak noted in the filing.