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Namibia Critical Metals Inc. (NMREF) is a leading company focused on developing the Tier-1 Heavy Rare Earth Project, Lofdal, a significant deposit of dysprosium and terbium essential for electric vehicles, wind turbines, and electronics. With the geopolitical importance of these metals on the rise, the Company's exploration and mining activities in Namibia offer stable supply chains. The strategic Joint Venture Agreement with Japan Organization for Metals and Energy Security (JOGMEC) provides financial support and market access for rare earth elements, securing a prosperous future for the Company and its partners.
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Namibia Critical Metals Inc. announced that it received all laboratory assays of the RC drilling campaign for its PFS study on the large-scale 'Lofdal 2B-4' heavy rare earth project. The final infill drilling campaign entailed 7 very deep reverse circulation boreholes for a total of 2,597 m in the Area 4 main deposit. The company confirmed the continuation of rare earth mineralization at depth with an increase in grade and width, and the mineralization is open in the southwesterly direction and at the depth of the Area 4 main deposit. The company appointed Qubeka, a Namibian consultancy, to develop the mine model and schedule for the planned Lofdal mines '2B pit' and '4 pit'. The final infill drilling program at Area 4 deposit was worked out to increase the level of resource categories required for the PFS for the expanded project 'Lofdal 2B-4'.
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Namibia Critical Metals Inc. (NMREF) announces that its joint venture partner, JOGMEC, has approved an additional $1,250,000 in funding, bringing the total budget for the period until March 31, 2024, to $13,050,000. The accelerated funding aims to fast-track the progression of crucial projects, ensuring timely execution and achieving key milestones ahead of schedule. NCMI intends to leverage advanced technologies and innovative methodologies to optimize processes and enhance the efficiency of mineral extraction and refining. The partnership with JOGMEC demonstrates the shared vision to capitalize on the immense potential of Lofdal and unlock significant value.
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Namibia Critical Metals Inc. (NCMI) announces the successful completion of the pilot plant flotation test work for its 'Lofdal 2B-4' heavy rare earth project. The pilot plant program confirms the reproducibility of the grinding and flotation regime for the Lofdal flowsheet and the ability to scale-up the design with confirmation of engineering design criteria. The company's President, Darrin Campbell, expressed satisfaction with the results, highlighting the substantial reduction in operating expenditures and increased recovery of heavy rare earth minerals. The company's partner, JOGMEC, has continued funding commitments, demonstrating confidence in the project's progress. The project aims to meet the growing demand for heavy rare earth metals due to their pivotal role in various technological applications.
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Namibia Critical Metals Inc. (NCMI) closed a non-brokered private placement, issuing 8,333,333 units at $0.06 per unit, consisting of one common share and one warrant each. The proceeds will fund marketing and general corporate purposes, with insiders acquiring $257,000 of the placement. The common shares and warrants are subject to a four-month hold period, expiring April 23, 2024.
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Namibia Critical Metals Inc. (NCMI) completes the final phase of drilling for its Pre-Feasibility Study (PFS) on the 'Lofdal 2B-4' heavy rare earth project, with 10,823 m drilled in 56 boreholes. The company expects to receive assays in January 2024 and an updated resource statement in February 2024.
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Namibia Critical Metals Inc. (TSXV:NMI)(OTCQB:NMREF) intends to complete a non-brokered private placement of up to $500,000, with each unit offered at a price of $0.06. The private placement represents a 7.7% discount to the closing price of the common shares on November 17, 2023. Bannerman Energy Ltd. has confirmed their intent to participate in the private placement up to a minimum amount of $209,000, representing their current pro rata ownership of the company of 41.8%. The private placement is subject to the approval of the TSX Venture Exchange and the proceeds will be used primarily to fund marketing and general corporate purposes.
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Namibia Critical Metals grants 4.3 million incentive stock options
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Namibia Critical Metals completes RC drilling campaign for PFS study on Lofdal 2B-4 project, confirms mineralized zones and discovers larger zone in western periphery, test work continues at SGS Lakefield, optimistic to deliver competitive PFS by mid next year.
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FAQ
What is the current stock price of NAMIBIA CRITICAL METALS (NMREF)?
The current stock price of NAMIBIA CRITICAL METALS (NMREF) is $0.0182 as of December 23, 2024.
What is the market cap of NAMIBIA CRITICAL METALS (NMREF)?
The market cap of NAMIBIA CRITICAL METALS (NMREF) is approximately 4.8M.
What is Namibia Critical Metals Inc. focused on?
NMREF concentrates on developing the Tier-1 Heavy Rare Earth Project, Lofdal, a crucial deposit of rare earth metals dysprosium and terbium.
What are the applications of dysprosium and terbium?
These critical metals are used in permanent magnets for electric vehicles, wind turbines, and other electronic applications.
Who is Namibia Critical Metals' strategic partner?
The Company has a Joint Venture Agreement with Japan Organization for Metals and Energy Security (JOGMEC) to support its mining projects and secure market access.
What is the significance of Namibia as a mining jurisdiction?
Namibia offers a proven and stable environment for mining activities, reducing geopolitical risks associated with metal sourcing.
What is the ownership structure of Namibia Critical Metals' Lofdal project?
NMREF owns a 95% interest in the Lofdal project, with the remaining 5% held for the benefit of historically disadvantaged Namibians.
What are the key terms of the Joint Venture Agreement with JOGMEC?
JOGMEC provides financial support for the Lofdal project, with various funding stages and the option to purchase production at market prices.
How does NMREF ensure dilution protection and local participation?
The agreement with JOGMEC safeguards against dilution of interests and allows for local investment to a maximum of 44% by funding pro rata.
What is the Company's latest transaction with Sylla Gold Corp.?
NMREF has amended the share purchase agreement with Sylla to divest non-material gold properties in Namibia, exchanging shares and cash consideration.
When is the closing date for the transaction with Sylla?
The closing date has been extended to no later than August 31, 2024, allowing both parties more time to complete the acquisition.
NAMIBIA CRITICAL METALS
OTC:NMREF
NMREF Rankings
NMREF Stock Data
4.76M
70.71M
66.38%
0.99%
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