Deep Value: cash covers more than 100% of the stock price

This company holds roughly $3M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Hamak Gold Limited

HAMA.L

Gold · Basic Materials

Price

0.65 GBp

+0.00 (+0.00%)

Market Cap

2.9M GBp

Exchange

London Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+366116.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 50K (2021) → 183.1M (2025)

Hamak Gold Limited is a small gold exploration and development company. It focuses on finding and developing gold deposits, with its primary asset being exploration projects in West Africa. The company is in the early stages of building a gold mining operation and does not yet produce or sell gold commercially.

Hamak Gold makes no revenue at this stage — it spends money on drilling, geological surveys, and feasibility work to prove that gold exists in the ground in economically viable quantities. It is a micro-cap company listed on the London Stock Exchange, and its negative ROIC reflects the cash it burns while exploring. The main risk is that exploration-stage mining companies frequently fail to find enough gold to justify building a mine, and they must continually raise new capital from investors just to keep operating, which can dilute existing shareholders over time.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+1.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

Research and development spending

Insider Activity

27.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~9 months

$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Hamak Gold Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

N/A

—

Data not available

Operating Margin

N/A

—

Data not available

ROCE

-13.0%

Weak — -13.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

—

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

N/A

—

Data not available

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Stability

Debt / Equity

1.02

Elevated debt (1.02)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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