Commodities
Namib Minerals Sets Out Development Timelines and Milestones for Redwing Mine; Technical Programme of the Definitive Feasibility Study Fully Funded Through to Completion
A defined five-step restart pathway on a targeted schedule: dewatering expected to be completed in Q4 2026, the fully funded DFS technical programme expected to conclude in early Q1 2027, and resource definition drilling to follow under the Company’s sequenced financing plan, advancing Redwing Mine toward the restart decision. 20 July 2026 New York, July 20, 2026 (GLOBE NEWSWIRE) -- Namib Minerals (“Namib Minerals” or “the Company”) (Nasdaq: NAMM), an established African gold producer with a por
About this update from Namib Minerals
A defined five-step restart pathway on a targeted schedule: dewatering expected to be completed in Q4 2026, the fully funded DFS technical programme expected to conclude in early Q1 2027, and resource definition drilling to follow under the Company's sequenced financing plan, advancing Redwing Mine toward the restart decision. 20 July 2026 New York, July 20, 2026 (GLOBE NEWSWIRE) -- Namib Minerals ("Namib Minerals" or "the Company") (Nasdaq: NAMM), an established African gold producer with a portfolio of mining assets in Zimbabwe, today set out the defined pathway and targeted milestone schedule for the restart of Redwing Mine, and announced that the technical programme of its Definitive Feasibility Study ("DFS") is fully funded through to completion. The DFS comprises the SEC S-K 1300 compliant definitive feasibility study for Redwing Mine being conducted by WSP Global, as announced at the Company's full year 2025 results. The Redwing Restart Pathway The restart of Redwing Mine follows five sequential steps. Each step gates the next, and the Company will report progress against each step in its operational updates. In parallel with the pathway, and not gated by it, two site workstreams are underway at Redwing which are enablers to the execution and implementation of the 5 Step approach outlined above: Achievement of these milestones is expected to unlock further funding for subsequent steps of the pathway and represents the gating sequence toward the larger, staged capital required to bring Redwing Mine back into production. Step 3 – Resource Definition and Bankability: The Next Funding Stage With Step 2 fully funded, Step 3 is the Company's next funding stage. The Company continues to engage with strategic investors, lenders, and development finance institutions to secure funding for Step 3, consistent with the phased and systematic funding approach set out in the Company's full year 2025 results announcement. Step 3 will advance the DFS to full bankability through the following workstreams: The Company regards Step 3 as a critical milestone. Its purpose is to assess whether Redwing's mineral resource base, together with its significant strike extent and potential down-dip extensions, support a redesign of the operation from its current configuration to a larger-scale, sustainable mining operation. The Company reiterates that it intends to advance its g...