Namib Minerals Commences Dewatering at Redwing Mine in Support of Restart Project
Rhea-AI Summary
Namib Minerals (Nasdaq: NAMM) announced that dewatering at its Redwing Mine in Zimbabwe began on January 29, 2026, consistent with the Company’s November 2025 work plan. The dewatering phase will allow access for feasibility studies, underground condition assessments, and detailed engineering to inform restart decisions.
The Company said progress matches planned enabling works and emphasizes a safety-focused approach as it pursues its goal of becoming a mid-tier gold producer and targeting reserve growth with Redwing’s restart.
Positive
- Dewatering commenced at Redwing on January 29, 2026
- Enabling works progress consistent with plan
- Dewatering enables feasibility studies and detailed engineering access
Negative
- Restart remains conditional on feasibility, underground assessments, and engineering outcomes
Market Reaction
Following this news, NAMM has gained 6.25%, reflecting a notable positive market reaction. Our momentum scanner has triggered 5 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $2.38. This price movement has added approximately $7M to the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
Gold peers like GORO -1.86%, TRX -7.10%, VGZ -11.74%, and USAU -8.18% were generally weak, but momentum scanners did not flag a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 05 | Nasdaq deficiency notice | Negative | -16.9% | Nasdaq notified company of failing $15M MVPHS listing requirement and compliance deadline. |
| Dec 15 | Operational update | Positive | -5.1% | Reported improved operational stability and lower AISC toward financial year-end at How Mine. |
| Nov 24 | Business update | Positive | -10.7% | Outlined plans to expand milling capacity and advance Redwing and Mazowe feasibility work. |
| Nov 20 | Call announcement | Neutral | -1.1% | Scheduled a webcast and conference call to review developments and take shareholder questions. |
| Nov 14 | Strategic partnership | Positive | +15.7% | Announced BW Mining partnership to retreat 213 Koz inferred gold sands at How Mine. |
Recent history shows multiple instances where operational or growth-focused updates were followed by share price declines, while a strategic partnership announcement drew a strong positive reaction.
Over the past few months, Namib Minerals has focused on operational improvements and growth plans while facing listing pressure. A Nov 24, 2025 business update detailed expansion at How Mine and an ~8-month Redwing dewatering program, yet the stock fell 10.71%. A Dec 15, 2025 operational update highlighting lower AISC also saw a 5.08% drop. In contrast, a Nov 14, 2025 strategic sand-retreatment partnership led to a 15.67% gain. The recent Feb 5, 2026 Nasdaq MVPHS deficiency notice coincided with a 16.89% decline, underscoring listing risk alongside today’s restart progress at Redwing.
Market Pulse Summary
The stock is up +6.3% following this news. A strong positive reaction aligns with Redwing’s dewatering milestone, which unlocks feasibility studies and detailed engineering work. Historically, Namib’s stock has sometimes sold off on operational updates despite constructive content, while a strategic partnership on Nov 14, 2025 drew a 15.67% gain. Investors have also contended with Nasdaq MVPHS deficiency notices and large registered resales, factors that could influence how durable any move proves.
AI-generated analysis. Not financial advice.
NEW YORK, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Namib Minerals (“Namib Minerals” or “the Company”), (Nasdaq: NAMM), today provided an update on progress at its Redwing Mine in Zimbabwe, confirming that dewatering activities commenced on January 29, 2026, in line with the work plan outlined in the Company’s November 2025 business update. The dewatering phase will enable access to the mine for feasibility studies, including underground condition assessments and detailed engineering evaluations, which will inform the next stages of the restart project at Redwing.
The Company noted that progress to date is consistent with the planned enabling works and reflects the Company’s disciplined, safety-focused approach to restarting production at the Redwing Mine.
“Dewatering at Redwing is progressing as planned and represents an important milestone in the restart process,” said Ibrahima Tall, Chief Executive Officer of Namib Minerals. “We are focused on building Namib Minerals into a mid-tier gold producer, targeting meaningful reserve growth, with Redwing’s future restart representing an important step toward that goal.”
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About Namib Minerals
Namib Minerals (NASDAQ: NAMM) is a gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals is a significant player in Africa’s mining industry, driving sustainable growth and innovation across the sector. Currently Namib Minerals operates the How Mine, an underground gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe. For additional information, please visit namibminerals.com.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward-looking statements. Any statements that refer to estimates or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. Forward-looking statements include, without limitation, the prospects of the restart project at the Redwing Mine including related feasibility studies. The forward-looking statements are based on our current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks and uncertainties which include the Company’s ability to execute on its plans and raise required capital for the restart. The foregoing list is not exhaustive. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the filings we make with Securities and Exchange Commission. We caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made.
Contacts:
Investor Relations:
ir@namibminerals.com
FAQ
When did Namib Minerals (NAMM) start dewatering the Redwing Mine?
What is the purpose of the dewatering at Redwing announced on Feb 12, 2026 by NAMM?
Does Namib Minerals say the Redwing restart is guaranteed after dewatering?
How did Namib Minerals describe progress at Redwing in the Feb 12, 2026 update?
What investor objective did Namib Minerals restate in the Redwing update (NASD: NAMM)?
