Liberian Firm Gets Listing on London Stock Exchange
The London Stock Exchange has accepted the application of HAMAK Gold Limited, a gold exploration, and development company in Liberia.
The move means the company is now listed on the London Stock exchange — giving it the ability to trade, and raise funds on the exchange. The company holds two highly prospective mineral exploration licenses (MELs) and also holds an option to acquire a further five in Liberia, which is considered highly prospective for gold.
“The funds raised on admission will enable us to deliver on our short term exploration strategies to identify significant occurrences of gold in high priority areas of the Nimba and Gozohn licenses,” Executive Chairman of HAMAK Gold Limited, Amara Kamara said. “This is the first time in Liberia’s mining history to have a company, with Liberian controlling shareholders, registered and HAMAK is a Liberian UK partnership company that focuses on highly prospective gold Licenses in Liberia."
In a statement, London Stock Exchange said that the company has been listed on the standard segment of the official list of the Financial Conduct Authority and to trade on the London Stock Exchange main market for listed securities with its ordinary shares trading under the ticker symbol “HAMA."
"Hamak Gold’s Board and senior management, led by Executive Director, Nicholas Karl Smithson, and Executive Chairman, Amara Kamara, have extensive experience in the resources and mining sector in Africa. Hamak Gold holds two highly prospective MELs and also holds an option to acquire a further which is considered highly prospective for gold and is geologically similar to neighboring gold-producing countries such as Guinea, Mali, Ivory Coast, and Ghana. With an experienced Board and excellent operational history in the region, Hamak Gold is well placed to implement its strategy too quickly, efficiently, and safely explore its licenses to lead to early exploration success," the statement added.
For Kamara, Liberia's admission into the UK stock exchange is a milestone for the country, “Today’s Admission in London is a very significant, and exciting news for all of us at HAMAK and Liberia at large."
At a day-long meeting between the Government of Liberia and the company, Kamara noted that the admission of the company marks a good beginning of Liberia's unexplored mineral sector.
HAMAK Gold’s Ltd. Board and Senior Management, led by Executive Director, Nicholas Karl Smithson, and Executive Chairman, Amara Kamara, have Extensive Experience in the Resources and Mining sector in Africa.
The company is a 100% Liberian registered company that focuses on the exploration, discovery, and development of mineral properties in Liberia and being managed by a group of highly experienced professionals that possesses a unique blend of mining managers with operation and geological capabilities.
He noted that the listing process has been a difficult and Expensive process, “But we believe it demonstrates that Liberian-led and majority owned Companies have the capability to transact on major international stock Exchanges,” he noted.
Kamara however noted that the achievement By HAMAK Gold LTD is an opportunity to highlight the potential of Liberia as a safe and well-regulated destination for Exploration and Mining for both local and international investors.
He expressed gratitude to the HAMAK team for their hard work and for not giving up on Liberia.
“I would Like to take this time to extend our heartfelt thanks and appreciation to the Government and people of Liberia, particularly the ministries of finance, the National Investment Commissions, the Ministry of Mines & Energy, and all of our friends and well-wishers," he said.
Speaking earlier, HAMAK Executive Director, Nicholas Karl Smithson, described Liberia as a safe place to do business. He said partnering with a Liberian entrepreneur like Amara to surface on the London Stock Exchange market should be an eye-opener for other Liberian entrepreneurs that Librarians can do better.
“I met Amara on a diamond venture three years ago and since those three years we have had a good working relationship that has led us to found a company which surfaced Liberia on the stock list of the UK,” Smithson added. "I am going back home and will tell the whole world that Liberia is safe to do business."
Meanwhile, Gesler E. Murray, Minister, Ministry of Mines and Energy has disclosed that the Company, HAMAK, is exploring in the southern part of Liberia, saying the company is currently mining gold with the hope of expanding in other areas.
For his part, National Investment Commission on Chair, Molewvleh B. Gray described the venture as a milestone for Liberia. Gray said this should set the stage for every other Liberian to muster the courage to venture and partner with international investigators.