Namib Minerals provides 2025 guidance, appoints WSP for feasibility studies

Namib Minerals (NASDAQ: NAMM) issued 2025 operational guidance and announced the appointment of WSP Global Inc. to conduct feasibility studies for its Redwing Mine and Mazowe Mine restart projects.

The company expects to produce 24,000 to 25,000 ounces in 2025, with adjusted EBITDA projected between $22 million and $26 million. All-in sustaining costs are forecast at $2,700 to $2,800 per ounce. The guidance reflects continued grade consolidation and optimization at the How Mine operation.

WSP has been mandated to execute SK-1300 compliant feasibility studies for both the Redwing and Mazowe mines over a 12 to 18-month period. These studies will validate exploration programs to increase, convert and upgrade resources, providing technical foundation for reserve conversion, permitting and financing discussions.

Concurrent with the feasibility studies, dewatering at Redwing is scheduled to begin and is expected to take approximately eight months to reach targeted mining levels. Surface infrastructure and power supply upgrades will be planned to align with the restart timeline.

The company estimates total funding requirements for the expansion program will range from $300 million to $400 million, with the majority allocated to Redwing Mine. This estimate remains preliminary and subject to feasibility study completion and final engineering outcomes.

Namib Minerals plans to pursue a funding mix that may include project debt, strategic partnerships and internally-generated cash flows. The company continues advancing early-stage restart preparation work at both Redwing and Mazowe mines as part of its strategy to transform from a single-asset producer into a multi-asset operator.

You May Also Be Interested In

• Boeing names Ryan Shedd as new SVP and controller
• Nuvectis Pharma (NVCT) files $200M mixed shelf
• Lazard Global Total Return fund declares $0.1534 monthly distribution