Namib Minerals H1 Revenue Jumps 40% to $50.8M, Redwing Restart Pulled Forward to January
NAMM is trading near its 52-week low of $0.914 (15% above the low) on elevated volume (4.1× avg).
Summary
Namib Minerals reported H1 2026 revenue of $50.8M, up 40% year-over-year, with gross profit doubling to $27.0M and Adjusted EBITDA up 76% to $19.0M. The improvement was driven by a 48% increase in realized gold price to $4,195/oz, offsetting a 7% decline in volumes. The company also accelerated the Redwing Mine restart, targeting first gold by January 2027, ahead of the previously communicated DFS-based timeline, and confirmed the How Mine mill expansion will be commissioned in mid-October, lifting processing capacity by 36%. Full-year production guidance was revised down to 26,500–27,000 oz from 28,000–31,500 oz, reflecting the timing of the mill ramp-up, while group AISC guidance was raised to $2,650–$2,850/oz. The balance sheet shows a $42.9M working capital deficit, but management projects positive cash flow through June 2027 and has secured additional debt facilities. This follows the September 30 6-K that disclosed the $6.5M BancABC loan and the revenue figure, but today's release provides the full income statement, updated guidance, and the Redwing acceleration—material new information for traders.
At the time of this announcement, NAMM was trading at $1.05 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $53.5M. The 52-week trading range was $0.91 to $7.42. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.