Namib Minerals – Operational Update

Core Insights - Namib Minerals has entered into a strategic partnership with Bitumen World Mining for the retreatment of sands at How Mine in Zimbabwe, which contains an inferred resource of 213 Koz of gold [3][4] - BW Mining has mobilized equipment and begun preparatory work for the initial testing phase of the sands, with expectations to leverage firm gold prices for efficient extraction [4][5] - The project aims to enhance overall EBITDA and deliver stronger returns to shareholders, contingent upon successful testing and market conditions [5][6] Group 1 - The partnership with BW Mining is a strategic move to capitalize on existing resources and improve operational efficiency [3][4] - How Mine's surface sands resource is significant, with 213 Koz of gold identified in the inferred resource category [3] - The initial phase of testing has commenced, with BW Mining's operational capacity expected to facilitate effective gold extraction [4][5] Group 2 - The project is designed to increase EBITDA and provide additional value from current resources, aligning with the company's long-term value strategy [5][6] - The partnership complements ongoing capital projects aimed at higher-return opportunities within the company's portfolio [6]