Earnings ·
Namib Minerals subsidiary secures $13.2M term loan from BancABC for Redwing Mine
NAMMNamib Minerals
Namib Minerals reported a loss of $4.8 million for the six months ended June 30, 2026, compared to an $11.9 million loss in the prior year period. Revenue increased 40% to $50.8 million, driven by a 48% rise in net realized gold prices to $4,195 per ounce, while production costs decreased slightly to $17.9 million. The company generated $9.3 million in operating cash flow and held $1.8 million in cash equivalents as of June 30, 2026. On September 23, 2026, the Company's subsidiary secured a consolidated term loan facility with BancABC totaling $13.2 million, including a new $6.5 million tranche, to fund resource definition and bankability efforts at the Redwing Mine. The company operates in the gold mining industry.