Namib Minerals Surges on Gold Expansion and Operational Wins

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•  21 Jan 2026
 

•   NAMM  
   
  +50.67%

$NAMM is making waves in the market with a remarkable surge, attracting attention from traders, investors, and gold mining enthusiasts. The jump comes after a series of strategic and operational updates, signaling that Namib Minerals is transitioning from a single-mine operator to a multi-asset gold producer in Africa. With active projects in Zimbabwe and additional exploration sites across the continent, the company is positioning itself as a high-potential player in the gold mining sector.

Investors are closely watching Namib Minerals renewed partnership with international engineering firm WSP. The collaboration focuses on feasibility studies for the Redwing and Mazowe mines, both currently under care and maintenance. WSP familiarity with the operations and Zimbabwe geological landscape allows for faster, data-driven decisions. CEO Ibrahima Sory Tal emphasizes that these studies form the technical and financial basis for restarting production, securing financing, and moving toward full operational capacity.

Operational stability is another factor driving market confidence. The How Mine site reports consistent processing rates and improved operational efficiency after a period of volatility. Costs have decreased significantly, with the all-in sustaining cost (AISC) dropping 8% at the mine and 11% across the company, now totaling $2,140 per ounce. Management stresses that maintaining steady operations, disciplined cash management, and clear cost visibility is key during this growth phase. Safety performance has also improved, with no reported workplace injuries over the past three months—a strong signal to investors about operational reliability.

Preparations for reactivating dormant mines are underway. At Redwing, preliminary pumping and drainage work will last approximately eight months, ensuring underground infrastructure is ready for phased production. Mazowe is undergoing surface-level upgrades, including electricity, water, and waste management, with detailed engineering to optimize efficiency and minimize capital costs. Additionally, How Mine plans to expand processing capacity by 36%, expected in the second half of 2026, helping the company counter declining ore grades and maintain output.

Looking at the long-term vision, Namib Minerals aims to produce up to 300,000 ounces of gold annually. While this target is not yet supported by final feasibility studies, management estimates that $300 - 400 million will be required, primarily for Redwing development. The company plans to use a mix of project debt, strategic partnerships, and internal cash flow to fund growth while limiting shareholder dilution.

The stock recent performance reflects market optimism around growth potential, operational improvements, and confidence in management strategy. However, challenges remain, including regulatory approvals, operational execution, and financing in the African mining context. Valued at $105 million, NAMM has gained 82% year-to-date but remains down 89% over the past 12 months, highlighting both volatility and potential opportunity.

Investors looking for growth in gold mining stocks may find NAMM attractive, especially as updates on feasibility studies, operational metrics, and cost efficiency will likely influence its trajectory in the months ahead. Monitoring these developments can provide insights into both short-term trading opportunities and long-term investment potential in African gold production.

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