Namib Minerals Reports Progress in Dewatering at Redwing Mine
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 19 2026
0mins
Source: Newsfilter
- Dewatering Progress: Since the commencement of dewatering on January 29, 2026, Namib Minerals has pumped approximately 544,570 cubic meters of water, resulting in a water level decline of about 21.9 meters, indicating significant progress in the restart process at Redwing Mine and reinforcing confidence in upcoming technical work.
- Increased Pumping Capacity: The current pumping capacity is approximately 640 cubic meters per hour, exceeding requirements and providing flexibility for the next phase of underground access development, ensuring consistent operation of dewatering infrastructure without interruptions.
- Strategic Development Goals: Redwing Mine has historically produced 650,000 ounces of gold and currently holds 1.18 million ounces of measured and indicated resources, making it a central component of Namib's long-term strategy to build a scaled multi-asset African gold platform and drive future growth.
- Equipment Upgrade Plans: High-capacity submersible pumps are expected on-site next week to further enhance pumping capacity, ensuring uninterrupted dewatering operations and facilitating the planned restart of the Redwing Mine.
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Analyst Views on NAMM
Wall Street analysts forecast NAMM stock price to rise
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Current: 1.450
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Current: 1.450
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About NAMM
Namib Minerals is a gold producer, developer and explorer with operations focused on Zimbabwe. The Company and its subsidiaries (including Greenstone Corporation) operate in Zimbabwe’s mining industry. It operates an underground mine in Zimbabwe, with additional exploration assets in Zimbabwe and the Democratic Republic of Congo (DRC). The How Mine is located in the Bulawayo Greenstone Belt and consists of several gold-bearing pods within a sigmoidal structure. The mineralization is mainly pyrite (>90%), with chalcopyrite, pyrrhotite, and associated silification and carbonation. Its other assets are Mazowe Mine and Redwing Mine. Mazowe Mine is situated in the Harare Greenstone Belt. Mazowe Mine has gold-bearing sulfides and quartz in shear zones. The mine has two underground sections and over 247 claims, spanning over 2,939 hectares. In the DRC, it has an interest in 13 exploration permits, which include six initial drilling holes with identified copper and cobalt potential.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Namib Minerals Reports Progress in Dewatering at Redwing Mine
- Dewatering Progress: Since the commencement of dewatering on January 29, 2026, Namib Minerals has pumped approximately 544,570 cubic meters of water, resulting in a water level decline of about 21.9 meters, indicating significant progress in the restart process at Redwing Mine and reinforcing confidence in upcoming technical work.
- Increased Pumping Capacity: The current pumping capacity is approximately 640 cubic meters per hour, exceeding requirements and providing flexibility for the next phase of underground access development, ensuring consistent operation of dewatering infrastructure without interruptions.
- Strategic Development Goals: Redwing Mine has historically produced 650,000 ounces of gold and currently holds 1.18 million ounces of measured and indicated resources, making it a central component of Namib's long-term strategy to build a scaled multi-asset African gold platform and drive future growth.
- Equipment Upgrade Plans: High-capacity submersible pumps are expected on-site next week to further enhance pumping capacity, ensuring uninterrupted dewatering operations and facilitating the planned restart of the Redwing Mine.
See More
Namib Minerals Reports FY Revenue Decline
- Fiscal Year Revenue: Namib Minerals reported FY revenue of $82.6 million, a 3.8% year-over-year decline that missed expectations by $60.6 million, indicating pressure in market competition and sluggish revenue growth.
- Asset Growth: Total assets increased from $51.0 million in 2024 to $62.8 million, suggesting that despite the revenue drop, the balance sheet remains robust, potentially supporting future investments and expansions.
- Adjusted EBITDA Improvement: Adjusted EBITDA rose by 18% to $29.0 million, reflecting improvements in cost control and operational efficiency, which, despite the overall revenue decline, enhanced profitability.
- Cash Flow Status: Operating cash flow totaled $13.8 million, demonstrating effective cash management, allowing the company to maintain positive cash flow to support daily operations and investment needs despite revenue challenges.
See More
Namib Minerals Appoints New CEO
- Executive Transition: Namib Minerals announced the appointment of Tulani Sikwila as CEO effective March 18, 2026, succeeding Ibrahima Sory Tall, indicating a strategic leadership shift to align with future growth objectives.
- Financial Leadership Continuity: Sikwila, previously the Chief Financial Officer, reflects the company's recognition of his financial management skills, providing continuity in financial strategy aimed at enhancing overall operational efficiency.
- Management Recruitment Initiative: The company has initiated a search for an interim CFO while also recruiting for a Chief Operating Officer, demonstrating Namib Minerals' proactive approach to optimizing its management team to support future business expansion and operational needs.
- Market Reaction: Following the announcement, Namib Minerals' stock rose 0.88% in after-hours trading to $2.29, indicating a positive market sentiment towards the new CEO appointment, which may bolster investor confidence.
See More
Comfort Systems Reports Strong Earnings Beat
- Earnings Beat: Comfort Systems reported earnings of $9.37 per share, surpassing the analyst consensus estimate of $6.75, indicating a significant improvement in profitability and boosting investor confidence.
- Sales Growth: The company achieved quarterly sales of $2.646 billion, exceeding the analyst consensus estimate of $2.337 billion, reflecting strong market demand and driving overall performance.
- Positive Stock Reaction: Comfort Systems shares jumped 4.6% to $1,436.25 in pre-market trading, indicating a favorable market response to the earnings report, which may attract more investor interest.
- Optimistic Market Outlook: The strong earnings data not only enhances the company's short-term stock price but also lays the groundwork for future growth, increasing market attractiveness for long-term investments in Comfort Systems.
See More
Namib Minerals Regains Nasdaq Compliance
- Compliance Restoration: Namib Minerals announced it has regained compliance with Nasdaq listing requirements by meeting the minimum public float market value of $15 million, demonstrating the company's stability and credibility in the market.
- Notification Timeline: The company received confirmation from Nasdaq on February 18 that it met the requirement, after being notified of non-compliance on January 30, reflecting swift actions taken to restore compliance.
- Market Performance: Following the compliance restoration, Namib Minerals' ordinary shares rose 2.20% in after-hours trading to $3.54 per share, indicating a positive market reaction to the news.
- Continued Listing: The company will remain listed on the Nasdaq Global Market, ensuring liquidity for its shares and bolstering investor confidence, further solidifying its market position in the mining sector.
See More
Namib Minerals Updates Progress at Redwing Mine
- Dewatering Initiated: Namib Minerals commenced dewatering activities at the Redwing Mine on January 29, 2026, in accordance with the work plan outlined in the November 2025 business update, marking a significant milestone in the restart project.
- Feasibility Study Access: The dewatering phase will enable access for feasibility studies, including underground condition assessments and detailed engineering evaluations, which are critical for informing the next stages of the Redwing Mine restart project.
- Safety-First Approach: The company noted that progress to date aligns with the planned enabling works, reflecting Namib Minerals' disciplined and safety-focused approach to restarting production, ensuring future operational safety.
- Mid-Tier Gold Producer Goal: CEO Ibrahima Tall stated that the restart of Redwing represents an important step toward building Namib Minerals into a mid-tier gold producer, targeting meaningful reserve growth and driving sustainable development in Africa's mining sector.
See More
Namib Minerals Reports Progress in Dewatering at Redwing Mine
- Dewatering Progress: Since the commencement of dewatering on January 29, 2026, Namib Minerals has pumped approximately 544,570 cubic meters of water, resulting in a water level decline of about 21.9 meters, indicating significant progress in the restart process at Redwing Mine and reinforcing confidence in upcoming technical work.
- Increased Pumping Capacity: The current pumping capacity is approximately 640 cubic meters per hour, exceeding requirements and providing flexibility for the next phase of underground access development, ensuring consistent operation of dewatering infrastructure without interruptions.
- Strategic Development Goals: Redwing Mine has historically produced 650,000 ounces of gold and currently holds 1.18 million ounces of measured and indicated resources, making it a central component of Namib's long-term strategy to build a scaled multi-asset African gold platform and drive future growth.
- Equipment Upgrade Plans: High-capacity submersible pumps are expected on-site next week to further enhance pumping capacity, ensuring uninterrupted dewatering operations and facilitating the planned restart of the Redwing Mine.
See More
Namib Minerals Reports FY Revenue Decline
- Fiscal Year Revenue: Namib Minerals reported FY revenue of $82.6 million, a 3.8% year-over-year decline that missed expectations by $60.6 million, indicating pressure in market competition and sluggish revenue growth.
- Asset Growth: Total assets increased from $51.0 million in 2024 to $62.8 million, suggesting that despite the revenue drop, the balance sheet remains robust, potentially supporting future investments and expansions.
- Adjusted EBITDA Improvement: Adjusted EBITDA rose by 18% to $29.0 million, reflecting improvements in cost control and operational efficiency, which, despite the overall revenue decline, enhanced profitability.
- Cash Flow Status: Operating cash flow totaled $13.8 million, demonstrating effective cash management, allowing the company to maintain positive cash flow to support daily operations and investment needs despite revenue challenges.
See More
Namib Minerals Appoints New CEO
- Executive Transition: Namib Minerals announced the appointment of Tulani Sikwila as CEO effective March 18, 2026, succeeding Ibrahima Sory Tall, indicating a strategic leadership shift to align with future growth objectives.
- Financial Leadership Continuity: Sikwila, previously the Chief Financial Officer, reflects the company's recognition of his financial management skills, providing continuity in financial strategy aimed at enhancing overall operational efficiency.
- Management Recruitment Initiative: The company has initiated a search for an interim CFO while also recruiting for a Chief Operating Officer, demonstrating Namib Minerals' proactive approach to optimizing its management team to support future business expansion and operational needs.
- Market Reaction: Following the announcement, Namib Minerals' stock rose 0.88% in after-hours trading to $2.29, indicating a positive market sentiment towards the new CEO appointment, which may bolster investor confidence.
See More
Comfort Systems Reports Strong Earnings Beat
- Earnings Beat: Comfort Systems reported earnings of $9.37 per share, surpassing the analyst consensus estimate of $6.75, indicating a significant improvement in profitability and boosting investor confidence.
- Sales Growth: The company achieved quarterly sales of $2.646 billion, exceeding the analyst consensus estimate of $2.337 billion, reflecting strong market demand and driving overall performance.
- Positive Stock Reaction: Comfort Systems shares jumped 4.6% to $1,436.25 in pre-market trading, indicating a favorable market response to the earnings report, which may attract more investor interest.
- Optimistic Market Outlook: The strong earnings data not only enhances the company's short-term stock price but also lays the groundwork for future growth, increasing market attractiveness for long-term investments in Comfort Systems.
See More
Namib Minerals Regains Nasdaq Compliance
- Compliance Restoration: Namib Minerals announced it has regained compliance with Nasdaq listing requirements by meeting the minimum public float market value of $15 million, demonstrating the company's stability and credibility in the market.
- Notification Timeline: The company received confirmation from Nasdaq on February 18 that it met the requirement, after being notified of non-compliance on January 30, reflecting swift actions taken to restore compliance.
- Market Performance: Following the compliance restoration, Namib Minerals' ordinary shares rose 2.20% in after-hours trading to $3.54 per share, indicating a positive market reaction to the news.
- Continued Listing: The company will remain listed on the Nasdaq Global Market, ensuring liquidity for its shares and bolstering investor confidence, further solidifying its market position in the mining sector.
See More
Namib Minerals Updates Progress at Redwing Mine
- Dewatering Initiated: Namib Minerals commenced dewatering activities at the Redwing Mine on January 29, 2026, in accordance with the work plan outlined in the November 2025 business update, marking a significant milestone in the restart project.
- Feasibility Study Access: The dewatering phase will enable access for feasibility studies, including underground condition assessments and detailed engineering evaluations, which are critical for informing the next stages of the Redwing Mine restart project.
- Safety-First Approach: The company noted that progress to date aligns with the planned enabling works, reflecting Namib Minerals' disciplined and safety-focused approach to restarting production, ensuring future operational safety.
- Mid-Tier Gold Producer Goal: CEO Ibrahima Tall stated that the restart of Redwing represents an important step toward building Namib Minerals into a mid-tier gold producer, targeting meaningful reserve growth and driving sustainable development in Africa's mining sector.
See More
