Namib Minerals – Operational Update
Rhea-AI Summary
Namib Minerals (Nasdaq: NAMM) announced a strategic partnership with BW Mining to retreat sands at How Mine in Zimbabwe.
The Company says How Mine holds a 213 Koz gold surface sands resource in the Inferred category per its SK-1300 report. BW Mining has mobilized equipment on site and begun preparatory work for initial testing of sands.
Upon successful testing, Namib Minerals expects to leverage firm gold prices and BW Mining’s operational capacity to extract additional value and potentially increase EBITDA, but results are subject to testing outcomes, market conditions, and other risks including Nasdaq listing risk and identified internal control weaknesses.
Positive
- Signed partnership with BW Mining for sands retreatment at How Mine
- BW Mining mobilized equipment and commenced preparatory testing work
- How Mine reports a 213 Koz inferred surface sands gold resource
Negative
- Project outcomes contingent on successful testing and assumptions
- Exposure to gold price volatility could affect project returns
- Unremediated material weaknesses in internal financial controls remain
News Market Reaction
On the day this news was published, NAMM gained 15.67%, reflecting a significant positive market reaction. Argus tracked a peak move of +31.9% during that session. Our momentum scanner triggered 23 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $11M to the company's valuation, bringing the market cap to $84M at that time. Trading volume was elevated at 2.6x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Namib Minerals (Nasdaq: NAMM) (“Namib Minerals” or the “Company”) today provided an operational update on its recent conclusion of an agreement with Bitumen World Mining (“BW”) for the treatment of sands at How Mine.
The Company is pleased to announce that it has entered into a new strategic partnership with BW Mining, a reputable mining and civil works contractor, for the retreatment of sands at How Mine in Zimbabwe. How Mine holds a surface sands resource of 213 Koz of Gold in the Inferred Resource category, as set out in the Company’s SK-1300 Report.
BW Mining has mobilized equipment on site and commenced preparatory work, to begin the initial phase of the testing of sands. Upon successful completion of testing, the Company expects to capitalize on firm gold prices, leveraging the proven competencies and operational capacity of BW Mining to efficiently extract gold from the How Mine sands.
The project is intended to increase overall EBITDA and extract additional value from existing resources, positioning the Company to deliver stronger returns to shareholders. However, such expectations are subject to the completion of the testing phase along with various assumptions, risks and uncertainties, including market conditions, many of which are beyond the Company’s control.
This partnership serves as a complementary initiative to Namib Minerals’ ongoing capital projects, which remain focused on delivering higher-return opportunities and long-term value across the portfolio.
Forward-Looking Statements
This update 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, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. Forward-looking statements include, without limitation, our management team’s expectations concerning the sands project partnership with BW Mining. 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, but are not limited to, (i) market risks, including the price of gold; (ii) the inability to maintain the listing of Namib Minerals’ securities on Nasdaq; (iv) the inability to remediate the identified material weaknesses in the Company’s internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Namib Minerals’ financial reporting. We caution you against placing undue reliance on forward-looking statements.
Contacts:
Investor Relations:
IR@namibminerals.com
Lamiaa Maniar
VP of Communications
lmaniar@namibminerals.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f17540ab-2cc4-4fb0-b424-5ee1e6a54508
FAQ
What did Namib Minerals (NAMM) announce on November 14, 2025 about How Mine?
How much gold does How Mine hold according to Namib Minerals' SK-1300 report?
Has BW Mining started work at How Mine and what is the next step for NAMM?
What are the main risks Namib Minerals (NAMM) highlighted for the sands project?
Could the How Mine sands project increase Namib Minerals' EBITDA and shareholder returns?
