Namib Minerals sees FY25 production 24,000 oz – 25,000 oz

The Company expects 2025 to continue as a year of grade consolidation and optimization at its flagship How Mine operation. The 2025 focus at How Mine remains on stabilizing grade performance and completing throughput-capacity improvements. These improvements are expected to yield geared production and grades in the upcoming year. Furthermore, the Company continues advancing early-stage restart preparation work at Redwing Mine and Mazowe Mine. Namib Minerals (NAMM) is pursuing a phased, technically driven growth plan designed to transform the Company from a single-asset producer into a multi-asset operator. The Company has in the past informed investors of its objective to recommence operations at Mazowe Mine and Redwing Mine. These restarts represent the first phase of the Company’s pathway to expansion and have commenced with the appointment of WSP. WSP has been appointed to begin feasibility studies at both mines simultaneously. The Company appointed WSP not only for its expertise but also the firm’s understanding and familiarity with the Company’s assets. The Company’s objective is to align the future production levels of Redwing Mine and Mazowe Mine with their respective resource sizes therein increasing their production capacities. WSP have been mandated to verify the Company’s ability to meet this strategic objective. WSP have been mandated to execute a SK-1300 compliant feasibility study on the following terms, amongst others. Feasibility Studies – 12 to 18 Months These studies will validate our exploration program to increase, convert and upgrade these resources. The program is expected to be completed over 12 to 18 months and will provide the technical foundation for reserve conversion, permitting, and financing discussions. In conjunction with the feasibility studies, the Company shall execute on phase two, namely the following strategic objectives – Dewatering and Infrastructure Preparation Dewatering at Redwing is scheduled to commence during the Feasibility-study phase and is expected to take approximately eight months to reach the targeted mining levels. Concurrently, surface-infrastructure and power-supply upgrades will be planned to align with the restart timeline. The third phase of the Company’s expansion will be to proceed with financing of its CAPEX.