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Nasdaq warns Namib Minerals (NASDAQ: NAMM) on value, 1.75M resale

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
424B3

Rhea-AI Filing Summary

Namib Minerals has filed a prospectus supplement covering the potential resale by Cohen & Company Securities of up to 1,750,000 ordinary shares that may be issued under a $3.5 million amended and restated promissory note.

The company also reports receiving a Nasdaq deficiency letter, noting its market value of publicly held shares was below the $15,000,000 requirement between December 5, 2025 and January 20, 2026. Namib Minerals has until July 29, 2026 to regain compliance, or its securities may be subject to delisting, though trading continues in the meantime.

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Insights

Nasdaq deficiency raises listing risk despite continued trading period.

Namib Minerals discloses a Nasdaq notice that its market value of publicly held shares failed to meet the $15,000,000 minimum from December 5, 2025 to January 20, 2026. This places the company in a defined compliance window rather than triggering an immediate delisting.

Nasdaq has granted a 180-day compliance period, until July 29, 2026, during which the company must achieve at least ten consecutive business days with market value at or above $15,000,000. Nasdaq rules also allow Staff to extend the required consecutive-day period up to 20 days.

If compliance is not regained by July 29, 2026, Nasdaq may move toward delisting, subject to appeal, or the company could seek transfer to the Nasdaq Capital Market if it meets those standards. The filing also maintains a resale registration for up to 1,750,000 ordinary shares tied to a $3.5 million promissory note, which could influence trading dynamics depending on holder decisions.

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-290714

 

PROSPECTUS SUPPLEMENT NO. 2

(to Prospectus dated October 23, 2025)

 

NAMIB MINERALS

 

PROSPECTUS FOR
Up to 1,750,000 Ordinary Shares

 

This Prospectus Supplement No. 2 (this “Supplement”) updates and supplements the prospectus dated October 23, 2025 (the “Prospectus”), which forms a part of our Registration Statement on Form F-1 (File No. 333-290714) (the “Registration Statement”), related to offer and sale from time to time by Cohen & Company Securities, LLC (the “Selling Shareholder”) of up to 1,750,000 ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), of Namib Minerals (the “Company”) that may be issued pursuant to the Amended and Restated Promissory Note with a face value of $3.5 million (the “Promissory Note”), dated as of December 9, 2025, issued by the Company to the Selling Shareholder. Capitalized terms used in this Supplement and not otherwise defined herein have the respective meanings ascribed to them in the Prospectus.

 

The purpose of this Supplement is to update and supplement the information included in the Prospectus with the information contained in our Report on Form 6-K which was submitted to the U.S. Securities and Exchange Commission (the “SEC”) on February 5, 2026 and is included immediately following the cover page of this Supplement. This Supplement is not complete without, and may not be utilized except in connection with, the Prospectus, including any supplements and amendments thereto.

 

We may further amend or supplement the Prospectus and information in this Supplement from time to time by filing amendments to the Registration Statement or other supplements to the Prospectus, as required. You should read the entire Prospectus, this Supplement, any amendments to the Registration Statement, or subsequent supplements to the Prospectus (to the extent information therein is not superseded by more up to date information in subsequent supplements or amendments to the Prospectus) carefully before you make your investment decision.

 

Our Ordinary Shares are listed on the Nasdaq Global Market under the symbol “NAMM,” and our Warrants are listed on the Nasdaq Capital Market under the symbol “NAMMW.” On February 4, 2026, the closing trading prices of our Ordinary Shares and Warrants were $3.67 and $0.2323, respectively.

 

YOU SHOULD CAREFULLY CONSIDER THE MATTERS DISCUSSED UNDER “RISK FACTORS” BEGINNING ON PAGE 7 OF THE PROSPECTUS.

 

NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS, AS SUPPLEMENTED BY THIS SUPPLEMENT, IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.


 

The date of this Supplement is February 5, 2026.

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of January 2026

 

Commission File Number 001-42685

 

Namib Minerals

(Translation of registrant’s name into English)

 

71 Fort Street, PO Box 500,

Grand Cayman, Cayman Islands, KY1-1106

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒               Form 40-F ☐

 

 

 

 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

Receipt of Nasdaq Deficiency Letter

 

On January 30, 2026, Namib Minerals (the “Company”) received a letter (the “Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) notifying the Company that during the period from December 5, 2025 to January 20, 2026 the Company’s ordinary shares, par value $0.0001 (the “Ordinary Shares”), did not meet the minimum market value of publicly held shares of $15,000,000 (the “MVPHS”) requirement for continued listing on the Nasdaq Global Market (“Nasdaq”) pursuant to Nasdaq Listing Rule 5450(b)(2)(C) (the “Rule”).

 

The Letter further stated that, in accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has 180 calendar days, or until July 29, 2026 (the “Compliance Period”), to regain compliance with the Rule. If at any time during the Compliance Period the Company’s MVPHS equals or exceeds $15,000,000 for a minimum of ten consecutive business days, the Staff will provide the Company with a written confirmation of compliance with the Rule and the matter will be closed. Nasdaq Listing Rule 5810(c)(3)(H) states, in part, that the Staff may, in its discretion, require the Company to satisfy the MVPHS requirement for more than ten consecutive business days, but generally not more than 20 consecutive business days, in order to demonstrate an ability to maintain long-term compliance with the listing rules. If the Company does not regain compliance with the Rule by July 29, 2026, the Company will receive written notification from the Staff that its securities are subject to delisting, which notification is subject to appeal by the Company. As an alternative, the Company has the ability to apply to transfer its securities to the Nasdaq Capital Market, assuming it could then meet the applicable continued listing requirements.

 

The Letter does not have an immediate effect on the Company’s Nasdaq listing or the trading of its Ordinary Shares and warrants. During the Compliance Period, the Ordinary Shares will continue to trade on Nasdaq under the symbol “NAMM,” and the Company’s warrants will continue to trade on the Nasdaq Capital Market under the symbol “NAMMW.”

 

The Company furnishes this report on Form 6-K to satisfy its obligation under Listing Rule 5810(b) to make public disclosure of the subject deficiency within four business days after receipt of the Letter.

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

NAMIB MINERALS  
     
By: /s/ Ibrahima Tall  
Name:  Ibrahima Tall  
Title: Chief Executive Officer  

 

Date: February 5, 2026

 

2

FAQ

What does Namib Minerals (NAMM) disclose about the new share registration?

Namib Minerals updates its prospectus for the resale of up to 1,750,000 ordinary shares. These shares may be issued under an amended and restated promissory note with a face value of $3.5 million held by Cohen & Company Securities as the selling shareholder.

Why did Namib Minerals (NAMM) receive a Nasdaq deficiency letter?

Nasdaq notified Namib Minerals that between December 5, 2025 and January 20, 2026 its market value of publicly held shares was below the $15,000,000 minimum required for Nasdaq Global Market listing under Listing Rule 5450(b)(2)(C), triggering a formal deficiency notice.

How long does Namib Minerals have to regain Nasdaq compliance?

Namib Minerals has a 180-day compliance period, until July 29, 2026, to regain compliance. If its market value of publicly held shares equals or exceeds $15,000,000 for at least ten consecutive business days, Nasdaq Staff will confirm compliance and close the matter.

What happens if Namib Minerals does not meet Nasdaq’s MVPHS requirement?

If Namib Minerals does not regain compliance by July 29, 2026, Nasdaq Staff may notify the company that its securities are subject to delisting. The company could appeal this determination or apply to transfer its listing to the Nasdaq Capital Market, subject to meeting those standards.

Does the Nasdaq deficiency letter immediately affect Namib Minerals’ trading?

The letter does not immediately affect Namib Minerals’ listing status. During the compliance period, its ordinary shares continue trading on the Nasdaq Global Market and its warrants continue trading on the Nasdaq Capital Market under the existing symbols disclosed in the filing.

What recent market prices does Namib Minerals report for its securities?

Namib Minerals notes that on February 4, 2026, its ordinary shares closed at $3.67 and its warrants closed at $0.2323. These quoted prices provide context for investors reviewing the resale registration and Nasdaq compliance disclosure in the supplement.
Namib Minerals

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