Hamelin Gold (ASX: HMG) – Tanami greenfield gold project

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
	Strong top shareholders and directors funding support	Single greenfield project	Market cap gets bigger

ABOUT COMPANY

Hamelin Gold (HMG) (https://hamelingold.com.au/) explores gold in Western Australia. Its flagship is the West Tanami Gold Project in the Kimberley region.

The company was spun-out from ENR in November 2021 by raising $10m@20c.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
HMG	0.08	157500000		12600000	5.1/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
1505	63.49%	56.10%	8.93%		last raise $4.75m@10c

Gold Field and SLR hold 11m shares each by participating in the IPO.

The board is made of the ENR directors.

FLAGSHIP ASSETS

West Tanami Gold Project WA (2,277km2)

Tanami - Gold, REE - NTU, BC8, PVW, HMG, C1X

Project Data

The project is an absolute greenfield.

During the 2022 field season, 10 diamond drill holes (4,117m) were completed across six separate prospects, nothing exciting was found.

SUMMARY

It is expensive to go for the deep blind drilling strategy at the moment.