Namib Minerals

Namib Minerals has presented a five-point roadmap to recommission the Redwing mine in Zimbabwe, with dewatering to be completed by the end of Q4 2026. The technical program for the final feasibility study, prepared by WSP Global to SEC S-K 1300 standards, is fully funded through the start of Q1 2027. The company secured a USD 5 million loan facility via Bulawayo Mining Company at Ecobank Zimbabwe to fund the technical program, but has a current ratio of 0.3 and is seeking additional funds for the planned 8,750‑metre drilling program and the subsequent construction and commissioning phases (drilling program completion expected Q4 2027). » Więcej na de.investing.com

Namib Minerals has appointed Tulani Sikwila as chairman, a role he will take on alongside his duties as CEO. Sphe Mchunu moves from general counsel to chief financial officer, and Wendy Luhabe has been named a non-executive, independent director and lead independent director. The board cites the restart of the Redwing mine and the execution of the financing strategy as reasons for the changes; the stock is trading at $1.67, up 85% over six months, with a market capitalization of about $98.6m. » Więcej na de.investing.com

Namib Minerals reports progress on the mill expansion at the How Mine: slab foundation, mill base and tower foundations are complete, major mechanical components have been delivered and civil excavation work is well advanced. On site, construction, assembly and electrical installations are underway, along with engineering, procurement and contractor management; acceptance tests for the transformer and starter have been completed. The company remains on schedule for construction and commissioning in the second half of 2026. Investor reaction: share price recently +40% on the week and >+105% year-to-date; gross profit margin 50% and market capitalization about USD 113 million. » Więcej na de.investing.com