Liberia-focused gold explorer Hamak Gold (LON: HAMA) was the best performer on Monday after it reported positive results from its first drill hole at the Nimba licence. There were 1.34 million shares traded on the day, which is treble the number traded on the previous record day.
The share price jumped 60% to 12p. Hamak Gold joined the standard list on 1 March when it raised £955,000 at 10p a share. This is the first time the share price has been above the placing price since March.
British Virgin Islands-registered Hamak Gold’s main assets are two gold licences in Liberia that cover 1,752 square kilometres and it has the option to acquire fiver other licences. The Nimba licence is next to the border and near to the Ity gold mine in the Ivory Coast. The Gozohn licence has significant gold diggings and is near to the Kokya mine in the centre of the country.
The drill hole at the Ziatoyah prospect intersected 20 metres at 7g/t. This suggests that there could be a significant mineralised system that is similar to the one at the Ity gold mine.
