Welcome to our dedicated page for Namibia Critical Metals news (Ticker: NMREF), a resource for investors and traders seeking the latest updates and insights on Namibia Critical Metals stock.
Namibia Critical Metals Inc. (NMREF) drives innovation in heavy rare earth extraction through its flagship Lofdal Project in Namibia. This page serves as the definitive source for corporate announcements, operational updates, and strategic developments essential for tracking progress in this critical minerals sector.
Investors and industry observers will find curated updates on resource expansion, process optimization breakthroughs, and partnership milestones with entities like JOGMEC. Content spans drilling results, metallurgical advancements, and sustainability initiatives shaping the company's role in clean energy supply chains.
All materials adhere to strict disclosure standards, providing reliable insights into NMREF's progress without speculative commentary. Regular updates ensure stakeholders maintain current awareness of this strategically positioned rare earth developer.
Bookmark this resource for streamlined access to NMREF's evolving story as it advances one of the world's most significant heavy rare earth deposits. Check back frequently for authoritative reporting on technical achievements and market positioning.
Namibia Critical Metals (NMREF) reports significant progress in its Lofdal heavy rare earth project, highlighting JOGMEC and Iwatani 's 110 million euro investment in Caremag SAS, a heavy rare earth separation plant. The company is conducting value engineering for its Prefeasibility Study on the expanded Lofdal 2B-4 Project.
Key developments include:
- Plans to increase feed grade to flotation by 50% through XRT and XRF sorting
- Expansion of run-of-mine from 2.1 Mt/a to 3.0 Mt/a
- Ongoing geotechnical drilling to optimize pit slope angles
- Implementation of sustainable water supply solutions
- Development of power supply through photovoltaic systems with battery backup
The company has extracted over 2,100 tonnes of bulk samples from Area 4 pit for extended sorting tests, positioning itself as a significant source of heavy rare earths dysprosium and terbium amid supply chain concerns following Myanmar disruptions and Chinese export restrictions.
Namibia Critical Metals (NMREF) announces an additional $1.154 million CDN budget increase from its joint venture partner JOGMEC for the fiscal year ending March 31, 2025. This follows a previous $550,000 increase announced on January 22, 2025, bringing JOGMEC's total expenditure commitments to $16.245 million.
The additional funding will accelerate several work programs at the Lofdal Heavy Rare Earth project, including:
- Bulk sampling of 1,000t fresh ore samples from 4 ore blocks
- Pilot plant XRF and XRT sorting tests on low and medium grade ore blocks
- Additional geotechnical drilling and detailed pit footwall studies
- Ultra high-resolution topographic drone survey of the mine site
The company will extend the completion timeline of its ongoing Pre-Feasibility Study to incorporate results from this accelerated program.
Namibia Critical Metals (NMREF) has announced successful completion of hydrometallurgical pilot plant testing for its Lofdal Heavy Rare Earth project. The test work, conducted at SGS Lakefield, resulted in a simplified flow sheet with reduced reagent consumption. Key achievements include:
- High-purity rare earth element (REE) carbonate production
- 90-94% dissolution rates for terbium and dysprosium
- Production of REE carbonate containing 3.24% dysprosium, 0.44% terbium, and 19.3% yttrium
- Thorium impurities below 0.5 g/t
Additionally, JOGMEC, the company's joint venture partner, has approved an additional $550,000 CDN budget, bringing total expenditure commitments to $15,091,000. The company expects to complete its PFS report later this year, addressing increased inflationary costs from their November 2022 PEA.
Namibia Critical Metals has completed a non-brokered private placement raising CDN$450,000 through the issuance of 12,857,143 units at $0.035 per unit. Each unit includes one common share and one-half warrant, with whole warrants exercisable at $0.05 until November 28, 2025. Two company insiders participated with $266,495 in the placement. The proceeds will fund general corporate purposes. Securities are subject to a four-month hold period until March 29, 2025, and a $1,260 finder's fee was paid.
Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) has announced a non-brokered private placement of up to CDN $450,000 at $0.035 per unit. Each unit includes one common share and one-half warrant, with whole warrants exercisable at $0.05 for 12 months. The placement will issue up to 19,285,714 common shares. Bannerman Energy intends to participate with $189,450, maintaining their 42.1% ownership. The proceeds will fund general corporate purposes, with shares subject to a four-month hold period.
Namibia Critical Metals Inc. (TSXV:NMI)(OTCQB:NMREF) has received a renewed Environmental Clearance Certificate for mining activities on its Lofdal Heavy Rare Earth Project, valid until September 2027. The certificate allows for exploration, processing, and mining on the Mining License 200 area.
The company is making significant progress on its Pre-Feasibility Study (PFS) for the expanded "Lofdal 2B-4" project, with completion scheduled for Q1 2025. The PFS scope has been extended to include sorting test work using advanced XRF and XRT technologies to upgrade lower grade run-of-mine material. Additionally, trade-off studies are being conducted to determine the optimal sustainable power mix for the mining operation.
President Darrin Campbell expressed excitement about the potential of new sorting technologies, which may allow for the processing of previously considered 'stockpile' material, improving overall sustainability.
Namibia Critical Metals Inc. (TSXV:NMI)(OTCQB:NMREF) has mutually terminated the share purchase agreement with Sylla Gold Corp. to divest four non-material gold properties in Namibia. This termination affects the previously announced transaction on March 19, 2024, which was updated on June 13, 2024. The decision to end the agreement suggests a change in strategy or market conditions for both companies. This development may impact Namibia Critical Metals' portfolio management and future plans for these gold properties.
Namibia Critical Metals (TSXV:NMI)(OTCQB:NMREF) announced on July 3, 2024, the signing of a non-binding, non-exclusive Memorandum of Understanding (MoU) with Copenhagen Atomics for the sale of thorium from the Lofdal Heavy Rare Earth Project.
This agreement outlines the negotiation framework for a binding commercial offtake agreement, with an expected annual production of around 100 tonnes of thorium oxide at full production.
The MoU, effective for 12 months, provides a potential revenue stream from what was previously considered waste. A conditional purchase order specifying quantity, delivery date, and quality is expected from Copenhagen Atomics by January 2025.
The move aligns with Namibia Critical Metals' strategy to enhance shareholder value and diversify revenue sources.
Namibia Critical Metals (NCMI) has revised its share purchase agreement with Sylla Gold Corp. to divest four non-material gold properties in Namibia. The properties include Grootfontein, Erongo, Otjiwarongo, and Kaoko licences.
As part of the agreement, Sylla will acquire a 95% interest in NCMI's Namibian subsidiaries. The terms include the issuance of 3,000,000 common shares at $0.05 per share and a cash payment of $100,000 to NCMI. The transaction's closing date has been extended to August 31, 2024, and remains subject to regulatory approvals and TSX Venture Exchange acceptance.
This transaction is classified as Non-Arm's Length due to Darrin Campbell, President and director of NCMI, also being a director of Sylla.
Namibia Critical Metals (NCMI) announced the results of its Annual General Meeting (AGM) held on May 16, 2024. Shareholders owning 61.92% of the shares were represented. All proposals, including the election of directors and approval of the stock option plan, were passed.
Adrian Hickey, Darrin Campbell, Steve Herlihy, and William Price were re-elected as directors with over 99% of votes in favor. PricewaterhouseCoopers LLP was reappointed as auditors for the year.
