Namib Minerals – Production and Operational Update

Core Viewpoint - Namib Minerals is focusing on operational improvements and expansion plans for 2025, including production guidance and feasibility studies for its mines [1][2][3]. Operational Guidance - The company anticipates production for 2025 to be between 24,000 and 25,000 ounces, with an adjusted EBITDA forecast of $22 million to $26 million and all-in sustaining costs (AISC) projected at $2,700 to $2,800 per ounce [2]. Expansion Plans - Namib Minerals aims to transition from a single-asset producer to a multi-asset operator, with plans to restart operations at Mazowe Mine and Redwing Mine as the first phase of its growth strategy [3][4]. - WSP Global Inc. has been appointed to conduct feasibility studies for both mines, which will help align production levels with resource sizes [4][6]. Feasibility Studies - The feasibility studies are expected to take 12 to 18 months and will include dewatering and infrastructure preparation at Redwing Mine, with an estimated funding requirement of $300 million to $400 million for the expansion program [5][6][7]. - The studies will validate the exploration program aimed at increasing and upgrading resources, with dewatering expected to take approximately eight months [6]. Funding Strategy - The company plans to pursue a balanced funding mix for its expansion, which may include project debt, strategic partnerships, and internally-generated cash flows to minimize shareholder dilution [7].