Nimba sold for milestones and a royalty, not cash
Summary
Hamak has given up its Nimba gold project in Liberia to BMMC, a subsidiary of Avesoro, for up to US$2 million in milestone payments and a 2% production royalty that BMMC can halve for US$2.5 million. The US$4.5 million headline is all contingent: nothing is paid on completion and the treasury does not move.
Why it matters
Nimba was Hamak's second gold project and the one its chief executive described in February as a free carry: a partner funds the work and Hamak keeps the equity. Hamak keeps no equity under this deal. It has given up the licence, and new licences over the same ground have gone to entities related to BMMC, which runs the New Liberty mine and pays for all further exploration. What Hamak keeps is a claim on success: US$1 million if a resource of at least 500,000 ounces is declared, US$1 million if a Mineral Development Agreement is granted, and a royalty once a mine produces. Nimba has no declared resource today, so none of those payments is near. The deal leaves Akoko as Hamak's only gold project, and the company says that is the point.
What happens next
The Akoko PEA, which the announcement says remains on track for completion in late November 2026. For Nimba itself, the next thing to watch is whether BMMC declares a resource on the new licences, because that is what triggers the first US$1 million.
Risks or unresolved questions
Every dollar of the headline depends on BMMC's exploration succeeding, and the timing is BMMC's, not Hamak's. The royalty is worth nothing until a mine is built, and the buy-back caps its upside. Nothing in the announcement values Nimba on Hamak's balance sheet or says whether the sale changes the carrying value of exploration assets.
This article separates source-reported facts from Golden Bitcoin explanation. Always read the underlying announcement or research.
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