Namib Minerals Reports Full Year 2025 Results and Provides Business Update

Namib Minerals announced its audited financial results for the year ended December 31, 2025. The company produced approximately 25,000 ounces of gold and generated $82.6 million in revenue, a slight decrease from 2024. However, Adjusted EBITDA increased by 18% to $29.0 million, and operating cash flow was $13.8 million. The company reported a significant increase in profit to $101.2 million, largely due to non-cash items including a $158.8 million gain from the revaluation of earnout liabilities and a $5.7 million gain from warrant liabilities. Production costs were down 4% to $37 million, though C1 costs per ounce increased to $1,653 due to lower production volumes. The How Mine expansion is on track, with milling capacity expected to increase in the second half of 2026. The Redwing Mine restart is progressing with dewatering activities underway. Tulani Sikwila has been appointed CEO, and the leadership team has been expanded. For 2026, the company guides to 28,000-31,500 ounces of gold production and an Adjusted EBITDA of $50m to $62m.