Welcome to our dedicated page for Namibia Critical Metals news (Ticker: NMREF), a resource for investors and traders seeking the latest updates and insights on Namibia Critical Metals stock.
Namibia Critical Metals Inc. (NMREF) drives innovation in heavy rare earth extraction through its flagship Lofdal Project in Namibia. This page serves as the definitive source for corporate announcements, operational updates, and strategic developments essential for tracking progress in this critical minerals sector.
Investors and industry observers will find curated updates on resource expansion, process optimization breakthroughs, and partnership milestones with entities like JOGMEC. Content spans drilling results, metallurgical advancements, and sustainability initiatives shaping the company's role in clean energy supply chains.
All materials adhere to strict disclosure standards, providing reliable insights into NMREF's progress without speculative commentary. Regular updates ensure stakeholders maintain current awareness of this strategically positioned rare earth developer.
Bookmark this resource for streamlined access to NMREF's evolving story as it advances one of the world's most significant heavy rare earth deposits. Check back frequently for authoritative reporting on technical achievements and market positioning.
Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) announced on July 3, 2024, the signing of a non-binding, non-exclusive Memorandum of Understanding (MoU) with Copenhagen Atomics for the sale of thorium from the Lofdal Heavy Rare Earth Project.
This agreement outlines the negotiation framework for a binding commercial offtake agreement, with an expected annual production of around 100 tonnes of thorium oxide at full production.
The MoU, effective for 12 months, provides a potential revenue stream from what was previously considered waste. A conditional purchase order specifying quantity, delivery date, and quality is expected from Copenhagen Atomics by January 2025.
The move aligns with Namibia Critical Metals' strategy to enhance shareholder value and diversify revenue sources.
Namibia Critical Metals (NCMI) has revised its share purchase agreement with Sylla Gold Corp. to divest four non-material gold properties in Namibia. The properties include Grootfontein, Erongo, Otjiwarongo, and Kaoko licences.
As part of the agreement, Sylla will acquire a 95% interest in NCMI's Namibian subsidiaries. The terms include the issuance of 3,000,000 common shares at $0.05 per share and a cash payment of $100,000 to NCMI. The transaction's closing date has been extended to August 31, 2024, and remains subject to regulatory approvals and TSX Venture Exchange acceptance.
This transaction is classified as Non-Arm's Length due to Darrin Campbell, President and director of NCMI, also being a director of Sylla.
Namibia Critical Metals (NCMI) announced the results of its Annual General Meeting (AGM) held on May 16, 2024. Shareholders owning 61.92% of the shares were represented. All proposals, including the election of directors and approval of the stock option plan, were passed.
Adrian Hickey, Darrin Campbell, Steve Herlihy, and William Price were re-elected as directors with over 99% of votes in favor. PricewaterhouseCoopers LLP was reappointed as auditors for the year.
Namibia Critical Metals successfully completed optimization on the hydrometallurgical flowsheet for the Lofdal Heavy Rare Earth Deposit. The company conducted tests on a concentrate sample from the Lofdal Area 4 starter pit, demonstrating the ability to produce an upgrade mineral concentrate. Key results include high REE dissolution at different sulphation temperatures, successful impurity removal, and reduction in iron dissolution. President Darrin Campbell expressed satisfaction with the positive results and potential cost reductions.
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