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
News Market Reaction – NAMM
In the Feb 13 session, NAMM gained 17.41%, reflecting a significant positive market reaction. Argus tracked a peak move of +6.9% during that session. Argus tracked a trough of -17.6% from its starting point during tracking. Our momentum scanner triggered 39 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h 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. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
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.
Key Terms
dewatering technical
feasibility studies technical
engineering evaluations technical
AI-generated analysis. How Rhea-AI works. 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
