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Namib Minerals Reports First - Half 2026 Financial Results and Provides Business Update 2026-10-01T08 : 00 : 00 October 01 , 2026 8:00 am EDT Related Documents Earnings WebcastAudio • Revenue Up 40 % and Adjusted EBITDA Up 76 % on Stronger Gold Price and Improved Cost Discipline • Expanded Milling Plant at How Mine Substantially Complete ; Commissioning Expected Mid - October , Increasing Monthly Processing Capacity by ~ 36 % • Redwing Mine Dewatering Completed Ahead of Schedule ; Three - Month Restart Program Commencing October with First Gold Targeted No Later Than January 2027 • Full - Year 2026 Production Guidance Revised to 26,500-27,000 Ounces ; C1 Cost Guidance Maintained • Management to Host Business Update Conference Call on October 1st at 8.30am NEW YORK , Oct. 01 , 2026 ( GLOBE NEWSWIRE ) -- Namib Minerals ( " Namib " or " the Company " ) , ( Nasdaq : NAMM ) , the African mining platform capitalizing on strategic resource opportunities , today announced its financial results for the six months ended June 30 , 2026 , and provided a business update on operational progress , the commissioning of the expanded milling plant at How Mine , and the accelerated restart of Redwing Mine . - " The first half of 2026 was a period of both progress and continued investment across Namib Minerals , " said Tulani Sikwila , Chief Executive Officer . " The company delivered a step change in underlying earnings ― revenue up 40 % , gross profit doubled , and Adjusted EBITDA up 76 % — achieved with production costs that were lower in absolute terms than a year ago . The installation of our expanded milling capacity at How Mine is substantially complete , and commissioning in mid - October will lift our processing capacity by more than a third . We completed dewatering at Redwing ahead of schedule and are bringing forward the restart , with first gold targeted no later than January 2027. We have a producing mine whose capacity is about to increase by more than a third , a second mine returning to production earlier than planned , and we have funded both in a non - dilutive manner . " Financial and Operational Highlights The first half of 2026 demonstrated a major improvement in the underlying financial performance of Namib Minerals , driven by a significantly stronger gold price environment and the cost and efficiency initiatives we implemented across the organization . Revenue for the six months ended June 30 was $ 50.8 million , an increase of 40 % from $ 36.4 million from the first half of 2025. The primary driver was the gold price : the average net realized price , stated after royalties , increased 48 % to $ 4,195 per ounce from $ 2,827 per ounce . Volumes decreased of 7 % but price improvements more than compensated for the reduction . Gross profit doubled to $ 27.0 million from $ 13.5 million , representing a gross margin of 53 % compared with 37 % in the prior year period . Adjusted EBITDA was $ 19.0 million , an increase of 76 % from $ 10.8 million , with an Adjusted EBITDA margin of 37 % compared with 30 % . Net cash generated from operating activities was $ 9.3 million , up 61 % from $ 5.8 million . The Company reinvested all operating cash flow into capital projects : net cash 1/5 15