Gold Explorer joins Bitcoin Treasury Bandwagon

Hamak Gold, a mineral exploration company at an early stage that focuses on discovering orogenous and gold deposits hosted by Greenstone, West Africa, shifts part of his treasury to Bitcoin.

Since 2022 mentioned on the London Stock Exchange, the company announced on Thursday that it had collected £ 2.47 million through a share placement, although it did not specify when the funds were protected.

The “Injection of New Capital” makes Hamak Gold “well positioned to pursue two core objectives in parallel,” said Nick Thurlow, the newly appointed chairman, in a statement published by the London Stock Exchange.

Maximize those objectives ” [our] Existing existing gold survey and development opportunities “and” seize transforming opportunities […] To lead the UK in Bitcoin Treasury Management, “said Thurlow.

Although it remains pre-income and has no active mining activities, Hamak Gold has licenses over more than 1,700 square kilometers of prospective grounds.

The same playbook, different players

Bitcoin Treasury -Pivots have always become well -known strategies, especially among companies that want to reinvent themselves.

Michael Saylor’s strategy shifted to Bitcoin in 2020 after years of stagnating performance. Semler Scientific, a health care company, was confronted with falling income and legal issues before he adopted his Bitcoin strategy last year. It now aims to acquire 105,000 BTC by 2027.

Others, such as Gamestop, coordinated in the trend in the midst of pressure from road winds and activist investors, whereby the board approves Bitcoin purchases earlier in March. Since then it has taken over more than 4,710 BTC and collected $ 450 million last month, which may have been protected.

More recent movements include those Van Opyl, an Australian biotech company with less than a month of runway in cash, and Vanadi Coffee, a Spanish café chain with only six locations, seems to work from the same playbook: Pivot to Bitcoin, reset the story.

Structure and discipline

Yet not all Bitcoin -Treasury strategies are built up.

The difference, according to Saul Rejwan, managing partner at Crypto Daring capital company at an early stage, amounts to structure and discipline.

With reference to Tokyo-raised metaplanet, Rejwan said Decrypt That the company “first refinanced hotel debt with high coupon and older secure bonds bought”, later issued nul-coupon paper to add 1,005 more bitcoin.

But because the operational engine of Metaplanet can already cover the liabilities, the Bitcoin position “is a cleaner balance instead of replacing one,” explained Rejwan, and emphasized how a Bitcoin Treasury model could serve as a kind of “Litmus test” for companies.

Rejwan contrasted that with companies as twenty-one capital, which he characterized as a “spac-born” vehicle. Twenty -one capital had previously announced in April that it is a public debut plant with 42,000 BTC on its treasury, of which Rejwan noted, is “largely financed by new equity and convertible debts” by backers such as Softbank and Tether.

“Here, the equity counting balloons before a single Satoshi is earned; Bitcoin volatility is expected to do the heavy work for the stock price, not to protect the withheld profit,” said Rejwan, comparing the big players with the newer participants.

“The dividing line is risk discipline,” he argued. Although a bullish market tends to “flatter” such reserve strategies, history could prove differently, he claimed.

Companies that “rely on serial equality increases, oversized positions or one-off portfolios” are apparently “using shareholders to a four-year tree-and-bust cycle,” remarked Rejwan.