Namib Minerals Sets Restart Timeline for Redwing Mine, Fully Funds Feasibility Study

Corporate Action
โดย GlobeNewswire·Read original
Summary · why it matters

Namib Minerals has outlined a five-step restart pathway for its Redwing Mine in Zimbabwe and announced that the technical programme of its Definitive Feasibility Study is fully funded through to completion. Dewatering is expected to finish in the fourth quarter of 2026, with the fully funded DFS technical programme concluding in early first quarter of 2027. The next funding stage, Step 3, will involve an 8,750-metre surface exploration drilling programme and associated workstreams to advance the DFS to full bankability, expected to conclude in the fourth quarter of 2027. Funding for the DFS technical programme was secured after the company's subsidiary, Bulawayo Mining Company, obtained a US$5.0 million, 36-month non-dilutive term facility from Ecobank Zimbabwe Limited, freeing up internally generated cash flow previously used for capital works at the producing How Mine. The company continues to engage with strategic investors, lenders, and development finance institutions to secure funding for Step 3, consistent with its phased and systematic funding approach.

Impact on stocks 1

Critical Materials & Supply Chain▲ · 1 stocks
Namib Minerals Ordinary Shares
NAMM
▲ PositiveCapitalrelevance

Namib Minerals fully funds DFS technical programme and outlines restart pathway for Redwing Mine, advancing project development.

Off-coverage companies 2

Bulawayo Mining Company LimitedPrivate▲ Positive
Capitalrelevance

Subsidiary Bulawayo Mining Company secures US$5M non-dilutive facility from Ecobank, enabling funding for DFS and freeing up cash flow.

Ecobank Zimbabwe LimitedPrivate▲ Positive
Capitalrelevance

Ecobank Zimbabwe provides a US$5M term facility to Bulawayo Mining Company, generating lending business.

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