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NAMIBIA CRITICAL METALS - NMREF STOCK NEWS

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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 its partner, JOGMEC, has committed an additional C$300,000 to the ongoing Lofdal joint venture exploration program. This brings JOGMEC's total approved expenditures to C$10,375,000, fulfilling the Term 2 Expenditure requirement of C$10 million needed to acquire a 40% interest in the Lofdal Project by May 31, 2023. The company is restructuring to facilitate this interest and is preparing to present a Preliminary Economic Assessment and Preliminary Feasibility Study to Japanese companies in late June 2023. The Lofdal project has a projected life of mine cash flow of USD$1.1 billion over 16 years, targeting the production of valuable heavy rare earth elements like dysprosium and terbium. Namibia Critical Metals owns a 95% interest in the project, which is fully permitted and under a joint venture with JOGMEC.

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Namibia Critical Metals Inc. (NMREF) has successfully secured approval for its common shares to trade on the OTCQB Venture Market, enhancing access for U.S. investors. This transition from the Pinks listing to OTCQB significantly increases global visibility and simplifies trading. The company’s Lofdal Project, notable for its heavy rare earth elements, is fully permitted with a robust post-tax NPV of USD $391 million and an annual IRR of 28%. The non-dilutive nature of this move ensures that existing shareholders will not face share dilution. As a result, Namibia Critical Metals aims to deepen investor engagement amidst rising interest in the rare earth sector.

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Namibia Critical Metals Inc. (OTC: NMREF) announced a Letter of Intent with SGS Canada to begin pilot plant testing on a 5-tonne sample from the Lofdal HREE Deposit in Q3 2023. This testing aims to scale up laboratory flotation tests and confirm engineering design criteria for capital and operating cost estimation. President Darrin Campbell highlighted the year as pivotal for corporate development, forecasting advancements in pilot plant testing and project progress. The Lofdal Project, focusing on heavy rare earth metals like dysprosium and terbium, has a strong financial outlook with a post-tax NPV of USD$391 million and an annual IRR of 28% based on its updated PEA.

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Namibia Critical Metals has initiated resource in-fill drilling at its expanded Lofdal 2B-4 Heavy Rare Earth Project as part of a Pre-Feasibility Study (PFS). The drilling campaign will include 35 RC holes totaling 4,930 meters and is expected to conclude by mid-March 2023. The project has significant potential for producing valuable elements like dysprosium and terbium. An updated PEA filed in November 2022 projected a post-tax NPV of USD $391 million and an annual IRR of 28%. The project is fully permitted and operates under a joint venture with JOGMEC, which aims to bolster resource security for Japan.

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Namibia Critical Metals is advancing its Lofdal Heavy Rare Earth project in partnership with JOGMEC. A public tender process is underway to transfer JOGMEC's position to Japanese partners, initiated due to increased interest following a resource boost and the issuance of a 25-year mining license. The recent Preliminary Economic Assessment (PEA) revealed a pre-tax NPV of USD$632.7 million and a life-of-mine cash flow of USD$1.1 billion. The tender process closes on March 13, 2023, while development activities for the larger project, Lofdal 2B-4, continue unaffected.

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Namibia Critical Metals has filed an updated NI 43-101 Preliminary Economic Assessment for its Lofdal Heavy Rare Earth Project in Namibia. This assessment indicates a pre-tax Net Present Value (NPV) of US$632.7 million and an after-tax NPV of US$391 million, with an internal rate of return of 34% pre-tax and 28% after-tax. The project targets significant production of dysprosium and terbium, crucial rare earth elements. The assessment is preliminary, and future economic viability remains uncertain.

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Namibia Critical Metals has announced the granting of 4,000,000 stock options as part of its incentive program for employees and management. The options, exercisable at $0.14 per share over five years, come in accordance with TSX Venture Exchange regulations. The company focuses on sustainable metal production from its projects in Namibia, including the joint venture with JOGMEC at the Lofdal Dysprosium-Terbium Project. This development is crucial for the battery and electric vehicle sectors, enhancing international resource supply chains.

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Namibia Critical Metals has released a Preliminary Economic Assessment (PEA) for its Lofdal Heavy Rare Earth Project, reporting a pre-tax NPV of $632.7 million and an internal rate of return (IRR) of 34%. The project, featuring a simplified processing flow and significant potential for dysprosium and terbium production, aims for an annual throughput of 2 million tonnes. Key figures include a planned capital cost of $207 million and a payback period of 3.2 years. The PEA is based on only 50% of the current resource estimate, suggesting significant upside potential as exploration continues.

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Namibia Critical Metals has announced significant advancements in its Lofdal Heavy Rare Earth project. The project, developed in partnership with Japan Oil, Gas and Metals National Corporation (JOGMEC), aims to supply valuable heavy rare earths to Japan. Recent tests conducted by SGS Minerals Services revealed a recovery rate exceeding 94% for dysprosium and terbium, confirming the project's viability for large-scale production. The Lofdal Project is fully permitted and expected to create local jobs while facilitating exports of rare earth products.

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Namibia Critical Metals has provided an update on its Lofdal Heavy Rare Earth project, highlighting successful flotation tests resulting in over a 20x upgrade of heavy rare earths. In partnership with JOGMEC, the project aims to sustainably supply dysprosium and terbium for high-tech applications. The recent flotation program involved more than 110 tests, achieving a recovery of 67-70% TREO from low-grade samples. The project’s resource estimate has increased to 44.76 million tonnes at an average grade of 0.17% TREO. The simplified processing flowsheet is undergoing economic evaluation, with further test work planned.

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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

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4.76M
70.71M
66.38%
0.99%
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