New Risk • Apr 24
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.0m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (CA$59.6m market cap, or US$43.6m). Recent Insider Transactions Derivative • Apr 07
President exercised options to buy CA$580k worth of stock. On the 1st of April, Darrin Campbell exercised options to buy 2m shares at a strike price of around CA$0.26, costing a total of CA$520k. This transaction amounted to 929% of their direct individual holding at the time of the trade. Since June 2025, Darrin's direct individual holding has increased from 1.08m shares to 2.22m. Company insiders have collectively bought CA$527k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Mar 10
Namibia Critical Metals Inc., Annual General Meeting, May 14, 2026 Namibia Critical Metals Inc., Annual General Meeting, May 14, 2026. Location: bedford, nova scotia, Canada Annuncio • Jan 14
Namibia Critical Metals Inc. Announces the Filing of the Independent Ni 43-101 Pre-Feasibility Study for the Lofdal Heavy Rare Earths Project 2B-4 in Namibia Namibia Critical Metals Inc. announced the filing of the independent NI 43-101 Pre-Feasibility Study ("PFS") for the Lofdal Heavy Rare Earths Project "2B-4" ("Lofdal" or the "Project") in Namibia. The Lofdal deposit has the potential for significant production of dysprosium ("Dy"), terbium ("Tb") and yttrium ("Y") which are the main economic drivers for the Lofdal project. The Project is being developed in joint venture with Japan Organization for Metals and Energy Security ("JOGMEC") targeting a long term, sustainable supply of heavy rare earth s to Japan. As previously reported on December 3, 2025, the NI 43-101 compliant report entitled Lofdal Heavy rare Earths Project 2B-4 Pre-Feasibility Study (PFS) Namibia was independently prepared by SGS Bateman (Pty) Ltd. as the principal author under the supervision of Joseph Keane who is a Qualified Person in accordance with NI 43-101 - Standards of Disclosure for Mineral Projects. New Risk • Mar 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$914k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$914k free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 4.9% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$12.0m market cap, or US$8.37m). Annuncio • Mar 11
Namibia Critical Metals Inc., Annual General Meeting, May 15, 2025 Namibia Critical Metals Inc., Annual General Meeting, May 15, 2025. Location: nova scotia, bedford Canada Annuncio • Jan 23
Namibia Critical Metals Inc. Announces Key Results of the Hydrometallurgical Scale-Up and Mini Pilot Plant Test Work Namibia Critical Metals Inc. announced key results of the hydrometallurgical scale-up and mini pilot plant test work leading to the production of a high purity rare earth element (REE) carbonate product for its "Lofdal 2B-4" heavy rare earth (HREE) project. Pilot-scale test work at SGS Lakefield resulted in a simplified flow sheet. The removal of crude REE precipitation, re-leach and thorium solvent extraction forms a significant simplification and is leading to reduced overall reagent consumption. The Company also announces that its joint venture partner, JOGMEC, has approved an additional $550,000 budget for JOGMEC's fiscal year ended March 31, 2025. This brings JOGMEC's total expenditure commitments to $15,091,000. Hydrometallurgical Test Work. Tests were conducted using a 93 kg pilot plant flotation concentrate sample with an average grade of 2.65% TREO produced at SGS Lakefield, using run-of-mine material from the Lofdal Area 4 starter pit. Bench scale hydrometallurgical tests were conducted showing recoveries of around 94% terbium (Tb) and dysprosium (Dy) using a two-stage acid bake process at 300degC and 650degC. The SGS pilot rotary kiln was used to scale up from static acid baking to continuous testing in short 6-8 h commissioning campaigns and a longer 72-84 h pilot campaign. The calcines produced in the acid bake campaigns were combined and water leached batch-wise. The pregnant leach solution (PLS) was subsequently used in a series of bench scale and continuous liquor treatment tests. Test Results. The original flowsheet consisted of Impurity Removal (IR), Crude Rare Earth Carbonate Precipitation (RP), Re-Leaching (RL) of the crude carbonate precipitate to produce a concentrated REE liquor followed by Uranium IX and Thorium SX, and final REE recovery as calcined oxalate or carbonate. Current test work has shown that a significantly simplified flowsheet consisting of two stage (primary and secondary) impurity removal/neutralization, followed by Uranium IX and two stages (primary and secondary) of REE carbonate precipitation is able to produce high grade HREE carbonate. Under optimum operating conditions, continuous high temperature (600degC) sulphation in the SGS rotary kiln yielded high HREE dissolution (90-94% Tb and Dy). A composite water leach liquor was produced containing around 1.6 g/L REE and co-extracted impurities such as thorium, uranium, scandium, iron and aluminium testwork was used to show that two stages of impurity removal using magnesium carbonate was able to remove practically all (below analytical detection limits) thorium, scandium, iron, aluminium, and some of the uranium at minimum losses of HREE (~ 2%). Uranium was removed by ion exchange (UIX) using a conventional strong base anion resin with negligible co-extraction of HREE. The UIX barren liquor was used in a mini pilot plant where REE-carbonate was recovered in two stages (primary and secondary") of precipitation using sodium carbonate. Overall recovery of REE was almost quantitative and around 0.5 kg of REE carbonate precipitate was produced containing 3.24% dysprosium, 0.44% terbium and 19.3% yttrium. Thorium impurities of the product are <0.5 g/t Th. A detailed composition is shown below. Standalone re-leach tests confirmed that any HREE co-precipitated in the Secondary Neutralization (SN) stage and Secondary Rare Earth Precipitation were easily recovered. Annuncio • Nov 29
Namibia Critical Metals Inc. announced that it has received CAD 0.45 million in funding from Bannerman Energy Ltd On November 28, 2024, Namibia Critical Metals Inc. closed the transaction. The common shares and warrants of the Company issued pursuant to the Private Placement are subject to a four-month hold period expiring March 29, 2025. A total of CAD 1,260 in finder’s fee was paid to one arm’s length finder in respect of this financing Two insiders of the Company acquired CAD 266,495 of the Private Placement Annuncio • Nov 02
Namibia Critical Metals Inc. announced that it expects to receive CAD 0.45 million in funding Namibia Critical Metals Inc. announced a non-brokered private placement that it will issue up to 12,857,143 units at an issue price of CAD 0.035 per unit for the gross proceeds of up to CAD 450,000 on November 1, 2024. Each unit will consist of one common share and one-half warrant. Each whole warrant will be exercisable for one common share at a price of CAD 0.05 for a period of 12 months. The Private Placement is subject to the approval of the TSX Venture Exchange. The common shares and warrants of the Company issued pursuant to the Private Placement will be subject to a four-month hold period. New Risk • Jul 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.1m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 10% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$6.15m market cap, or US$4.44m). Minor Risk Shareholders have been diluted in the past year (4.2% increase in shares outstanding). New Risk • Jul 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.1m free cash flow). Earnings have declined by 10% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$7.17m market cap, or US$5.19m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Buy Or Sell Opportunity • Jul 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 33% to CA$0.03. The fair value is estimated to be CA$0.038, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Jul 02
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at CA$0.045. The fair value is estimated to be CA$0.037, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Jun 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to CA$0.045. The fair value is estimated to be CA$0.037, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Jun 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 10% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$9.22m market cap, or US$6.70m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Annuncio • May 15
Namibia Critical Metals Inc. Successfully Completes Optimization on Hydrometallurgical Flowsheet for the Lofdal Heavy Rare Earth Deposit Namibia Critical Metals Inc. announced key results of the optimization test program in preparation for scale-up hydrometallurgical tests for its "Lofdal 2B-4" heavy rare earth project. Tests were conducted on a 93 kg concentrate sample produced by a flotation pilot plant at SGS Lakefield, using run-of-mine material from the Lofdal Area 4 starter pit. The pilot plant flotation program confirmed the performance of the Lofdal beneficiation flowsheet in a continuous operation and demonstrated the ability to produce an upgrade mineral concentrate. Previous test on bulk flotation concentrate showed promising results in terms of REE extraction and reduced reagent consumption. The current hydrometallurgical testing aims to replicate the previous result using the concentrate produced from the flotation pilot plant. Preliminary confirmatory tests showed consistent high REE dissolution and established a relation between sulphation temperature, REE extraction and iron co-extraction. Key results include: Low (~ 300degC) temperature sulphation yields higher REE dissolution, but also higher iron dissolution. High iron dissolution leads to high reagent consumption to remove the iron in the leach solution. High (~ 600degC) temperature sulphation proved to be beneficial in suppressing iron dissolution into the leach solution. The process was able to reduce iron dissolution from around 60% (low temperature bake) to around 30%. This leads to a net reduction in MgCO3 consumption. However, some REE losses were observed at these high temperature bake conditions. Impurity removal process was shown to be successful in removing the iron and thorium and at minimum REE losses whether from high temperature or low temperature sulphation conditions. Optimization of Hydrometallurgical Flowsheet: Test-work was conducted at SGS Lakefield from October 2023 to April 2024 in preparation of acid sulphation scale-up test-work planned for second quarter 2024. Flotation concentrate samples with varying iron levels (by applying magnetic separation) were used in hydrometallurgical tests. JOGMEC can also purchase another 1% for CAD 5,000,000 and has first right of refusal to fully fund the project through to commercial production and to purchase all production at market prices. The collective interests of NCMI and historically disadvantaged Namibians cannot be diluted below a 26% carried working interest upon payment of CAD 5,000,000 to JOGMEC for the dilution protection. NMI may elect to participate up to a maximum of 44% by funding pro rata after the earn in period is completed. To date, JOGMEC has completed Term 2 and earned a 40% interest by reaching the CAD 10 million expenditure requirement. Total approved project funding to date is CAD 14,541,000 of the $20,000,000 Earn-In requirement to reach 50% interest. James Brown, Peng. of SGS is a Qualified Person and has reviewed and approved the sections on hydrometallurgical test work in this press release. Buy Or Sell Opportunity • Apr 23
Now 22% overvalued Over the last 90 days, the stock has fallen 10.0% to CA$0.045. The fair value is estimated to be CA$0.037, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Annuncio • Apr 11
Namibia Critical Metals Inc., Annual General Meeting, May 16, 2024 Namibia Critical Metals Inc., Annual General Meeting, May 16, 2024, at 10:00 Atlantic Daylight. Location: theofficesofNamibiaCriticalMetalsInc.,at SunTower,Suite802, 1550 Bedford Highway, Halifax, NSB4A1E6, Halifax Nova Scotia Canada Agenda: To receive the consolidated financial statements of the Company for the year ended November 30, 2023, together with the report of the auditor thereon; to elect directors of the Company for the forth coming year; to appoint the auditor of the Company for the forthcoming year and to authorize the directors to fix the auditor's remuneration; to consider and, if deemed advisable, to pass an ordinary resolution approving the Company's Incentive Stock Option Plan, ,as amended as more particularly described in the accompanying management in formation circular("Circular");and to consider other matters. Annuncio • Apr 10
Namibia Critical Metals Inc. Announces an Updated NI 43-101 Mineral Resource Estimate for the Large-Scale "Lofdal 2B-4" Heavy Rare Earth Project Namibia Critical Metals Inc. announced an updated NI 43-101 Mineral Resource Estimate for the large-scale "Lofdal 2B-4" heavy rare earth project. The Company conducted a two-stage infill drilling campaign for the subprojects Area 4 and Area 2B with the purpose of increasing the confidence of the resources for the planned open pits of Area 4 and Area 2B. The MSA Group provided an NI 43-101 Mineral Resource Estimate which includes the new data. Contained tonnages of Dysprosium and Terbium - the most valuable heavy rare earth elements - amount to 4,503 tonnes Dysprosium oxide and 693 tonnes Terbium oxide in the combined Measured and Indicated Resource categories which represents an increase of 11% and 12%, respectively, compared to the previous Mineral Resource Statement; 38% increase in contained Dysprosium oxide and 39% increase in contained Terbium oxide in the Inferred Resources for the combined Area 4 and Area 2B deposits; 31% increase in contained Total Rare Earth Oxide (TREO1) tonnage in the combined Measured and Indicated Resource categories from 72,680 tonnes to 93,731 tonnes; The combined Measured and Indicated Mineral Resources increased from 44.8 million tonnes at 0.17% TREO to 58.5 million tonnes at 0.16% TREO for the combined Area 4 and Area 2B deposits based on the same cut-off of 0.1 % TREO as in the previous PEA. The final drill program was worked out by the Company with support by The MSA Group to increase the level of resource categories as required for the PFS for the expanded project "Lofdal 2B-4". Samples were collected at the drill rig's cyclone ("A-sample") and submitted to Actlab's preparatory laboratory in Windhoek, Namibia, in batches of 200 to 300 samples. The samples were dried and crushed to 2 mm, split using a riffle splitter and pulverised to 105 µm. Pulverised sub-samples were homogenised in a stainless-steel riffle splitter and a 15 g sample and duplicate were drawn for analysis. The pulverised sample aliquots were shipped to the ISO/IEC 17025 accredited Actlabs analytical facility in Ancaster, Ontario, Canada. The samples were assayed using lithium metaborate-tetraborate fusion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Actlab's analytical code "8-REE" includes 45 trace elements, 10 major oxides, Loss on Ignition, and mass balance. The samples were subjected to a quality assurance and quality control (QAQC) program consisting of the insertion of blank samples, field duplicates and certified reference materials at Lofdal and the preparation of a laboratory duplicate at the sample preparation facility in Windhoek. The Mineral Resource was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and is reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference into National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101). The Mineral Resource is classified into the Measured, Indicated and Inferred categories and is reported at a cut-off grade of 0.1% total rare earth oxides (TREO). NCMI is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals used in permanent magnets for electric vehicles, wind turbines and other electronics is driven by innovations linked to energy and technology transformations. The geopolitical risks associated with sourcing many of these metals has become a repeated concern for manufacturers and end users. Namibia is a proven and stable mining jurisdiction. Annuncio • Feb 02
Namibia Critical Metals Inc. Reports Final Assays for Infill Resource Drilling on Lofdal Area 4 Dysprosium-Terbium Project in Namibia Namibia Critical Metals Inc. announce that it received all laboratory assays of the RC drilling campaign for its PFS study on the large-scale "Lofdal 2B-4" heavy rare earth project. The final infill drilling campaign entailed 7 very deep (end of hole between 325 and 401 meters) reverse circulation boreholes for a total of 2,597 m in the Area 4 main deposit. Assays were received from Actlabs, Canada. Continuation of the rare earth mineralization at depth was confirmed by all infill drill holes in grade and width in accordance with the geological model. The last borehole drilled (L4R0218) showed an increase in grade and width of the heavy rare earth mineralization and confirmed that the rare earth mineralization is open in southwesterly direction and at depth of the Area 4 main deposit. 1234 samples of average 1.8 kg per sample were collected at the drill rig's cyclone ("A-sample") and submitted to Actlab's preparatory laboratory in Windhoek, Namibia, in batches of 200 to 300 samples. The samples were dried and crushed to 2 mm, split using a riffle splitter and pulverised to 105 µm. Pulverised sub-samples were homogenised in a stainless-steel riffle splitter and a 15 g sample and duplicate were drawn for analysis. The pulverised sample aliquots were shipped to the ISO/IEC 17025 accredited Actlabs analytical facility in Ancaster, Ontario, Canada. The samples were assayed using lithium metaborate-tetraborate fusion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Actlab's analytical code "8-REE" includes 45 trace elements, 10 major oxides, Loss on Ignition, and mass balance. New Risk • Jan 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$11.3m market cap, or US$8.44m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Annuncio • Dec 23
Namibia Critical Metals Inc. announced that it has received CAD 0.5 million in funding from Bannerman Energy Ltd On December 22, 2023, Namibia Critical Metals Inc., closed the transaction. Insiders of the company acquired CAD 257,000 of the private placement. Each whole warrant is exercisable for one common share at a price of CAD 0.10 until December 22, 2025. Annuncio • Dec 06
Namibia Critical Metals Inc. Completes Infill and Resource Expansion Drilling for the Pfs Phase of Its Lofdal 2B-4 Heavy Rare Earth Project Namibia Critical Metals Inc. announced the completion of the final phase of drilling for its Pre-Feasibility Study (PFS) on the "Lofdal 2B-4" heavy rare earth project. In total, infill and resource expansion drilling for the PFS phase amounts to 10,823 m in 56 boreholes drilled over the last months. The final drill phase entailed seven very deep reverse circulation (RC) boreholes for 2,597 m in the Area 4 main deposit. While five boreholes represent infill boreholes in the deeper part of the central Area 4 deposit, two of the boreholes aimed at resource expansion at the newly established mineralized zone in the western part of the Area 4 deposit. The main aim of the drilling campaign was to significantly increase the measured and indicated resource categories to comply with the requirements of a PFS. Beyond this, field logging supports concept of an extension of the orebody in the southwestern part of Area 4 which demonstrates the potential to unlock further mineralization in future. The company expects to receive the assays in January 2024 and an updated resource statement in February 2024. Drilling was conducted at both, Area 2B and Area 4, in two phases between February and November 2023. In total, 10,823 m were drilled by reverse circulation (RC drilling) in 56 boreholes. The last 7 boreholes, completed in November 2023, were drilled into the deeper western part of the mineralization at Area 4 with end-of-hole (EOH) depths between 325 and 401 m. These deep holes aimed at both, infill drilling for the current pit shell and resource expansion drilling following the newly discovered thick and high-grade HREE-mineralized zone further to the southwest. More than 1100 samples were collected from the last seven boreholes and submitted for ICP analysis to Actlabs by end of November 2023. Results are expected by mid-January 2024. Jeremy Witley of The MSA Group was contracted as QP for the drilling and sampling activities and confirmed that the processes and standards for the exploration are appropriate for the style of mineralization at Lofdal and that acceptable QAQC protocols have been implemented. MSA was also contracted to produce an updated Mineral Resource Estimate for the Lofdal 2B-4 project which is expected to be released by end-February 2024. Annuncio • Nov 21
Namibia Critical Metals Inc. announced that it expects to receive CAD 0.5 million in funding from Bannerman Energy Ltd Namibia Critical Metals Inc announces a non-brokered private placement of 8,333,333 units offered at a price of CAD 0.06 per unit for gross proceeds CAD 500,000 on November 20, 2023. Each unit will consist of one common share and one warrant. Each whole warrant will be exercisable for one common share at a price of CAD 0.10 for a period of 24 months. A maximum of 16,666,667 common shares of Namibia Critical Metals will be issued pursuant to the Private Placement. The transaction included participation from returning investor, Bannerman Energy Ltd. Bannerman Energy Ltd. has confirmed their intent to participate in the Private Placement up to a minimum amount of CAD 209,000. The Private Placement is subject to the approval of the TSX Venture Exchange. The common shares and warrants issued pursuant to the Private Placement will be subject to a four-month hold period. Annuncio • Nov 07
Namibia Critical Metals Inc. Commences Additional In-Fill Drilling for the Expanded "Lofdal 2B-4" Heavy Rare Earth Project Namibia Critical Metals Inc. announced the commencement of the final phase of drilling for its Pre-Feasibility Study (PFS) on the "Lofdal 2B-4" heavy rare earth project. The final drill phase entails seven very deep reverse circulation (RC) boreholes for a total of 2,505 m in the Area 4 main deposit. The drill program is expected to be completed by early December 2023. The holes were originally planned as a separate diamond core (DC) drilling campaign. However, RC infill drilling earlier this year has proven to produce qualitatively equal data while costs and time can be reduced significantly. While five boreholes represent infill boreholes in the deeper part of the central Area 4 deposit, two of the boreholes aim at the same time at resource expansion at the newly established mineralized zone in the western part of the Area 4 deposit. Annuncio • Sep 09
Namibia Critical Metals Inc. Announces the Completion of the RC Drilling Campaign for Its PFS Study on the Large-Scale Lofdal 2B-4 Heavy Rare Earth Project Namibia Critical Metals Inc. announce the completion of the RC drilling campaign for its PFS study on the large-scale "Lofdal 2B-4" heavy rare earth project. The infill drilling campaign entailed 49 reverse circulation boreholes for a total of 8,226 m in the Area 4 main deposit and the Area 2B satellite deposit. Assays were received from Actlabs, Canada. Highlights are: Width and grade of the mineralised zones were confirmed by infill drilling. Combined mineralized intervals can reach more than 100 m length in total in some boreholes based on a combined cut-off of 0.1% TREO1 over wider intercepts as previously used in the PEA "Lofdal 2B-4". This averaging over wider mineralised zones reflects assumed consecutive blocks in a potentially large-scale open-pit operation benefiting from economy of scale. A larger, previously unknown mineralized zone was intercepted in the western periphery of the pit shell (produced in the PEA "Lofdal 2B-4" for Area 4) demonstrating upside for additional mineralization towards the west and depth. Test work at SGS Lakefield continues with the pilot-scale flotation test on a 5 ton bulk sample and an extended variability testing program followed by hydrometallurgical tests. A final drill program was worked out by the Company with support by The MSA Group to increase the level of resource categories as required for the PFS for the expanded project "Lofdal 2B-4". Resource drilling commenced at the end of January 2023 and was completed by June 2023. The drilling campaign was significantly expanded from a planned total of 5,240 m. With the excellent drill performance of Prinsloo Drilling in deeper RC holes, it was decided to drill all planned diamond core boreholes up to 350 m length by the more cost-efficient reverse circulation method. Eventually, a total of 8,226 m was completed in this RC drilling campaign. 37 RC drill holes for a total of 6,446 m were drilled at Area 4. In general, mineralised zones were confirmed in its expected ranges of width and grade. The drill results confirm the geological model of structural zones acting as fluid channels and controlling intensity, pinching and swelling as well as splaying of the wide mineralized zones. Several intercepts in boreholes drilled in the periphery of the planned pit shell for Area 4 open pit, show wide mineralized zones which might form significant additional resources in the planned update of the Mineral Resource Estimate. An example for a mineralized zone currently not included in the pit shell is depicted in the section through the western periphery of planned Area 4 open pit with borehole L4D0207 returning 9 mineralized intervals using a cut-off of 0.1% TREO2, including 14 m at 0.17% TREO from 295 m and 21 m at 0.11% TREO from 262 m. Further, sampling was extended to the hanging wall of the "main mineralized zone". Assays show wide zones of up to 100 m of additional low to moderate grade HREO mineralization which will undergo an assessment for upgrade and beneficiation by sorting technologies, and thus might potentially further increase mine life or throughput of the future Lofdal mine. The intercepts were generally selected based on an assumed cut-off of 0.1% TREO as previously used in the PEA "Lofdal 2B-4’’. However, the intercepts partly include a significant amount of samples with <0.1% TREO in order to reflect the width of the mineralized zone potentially forming consecutive ore blocks in a large-scale open pit operation. By including lower grade mineralization, the combined mineralized intervals may reach more than 100 m length in total like in borehole L4R0208 with 63 m length from 275 m and 53 m length from 173 m, and borehole L4R0210 with 51 m length from 285 m, 27 m length from 252 m and 29 m from 213 m The longest consecutive mineralized interval is 105 m length from 123 m in borehole L4R0199. In Area 2B, 12 RC holes were drilled for a total of 1,780 m. Drilling was expanded by 4 boreholes to cover the mineralized zone extending to the east of the currently planned pit shell, see Figure 5. Infill drilling at Area 2B is completed for the update and increase of resource categories of the Mineral Resource Estimate as suggested by The MSA Group for the PFS/DFS level for Lofdal's planned satellite open pit "Pit 2B" while Area 4 requires a further 6,000 m of DC drilling in 16 boreholes for the deeper portion of this sub-deposit. 4495 samples of average 1.8 kg per sample were collected at the drill rig's cyclone and submitted to Actlabs preparatory laboratory in Windhoek, Namibia, in batches of 200 to 300 samples. The samples were dried and crushed to 2 mm, split using a riffle splitter and pulverised to 105 µm. Pulverised sub-samples were homogenised in a stainless-steel riffle splitter and a 15 g sample and duplicate were drawn for analysis. The pulverised sample aliquots were shipped to the ISO/IEC 17025 accredited Actlabs analytical facility in Ancaster, Ontario, Canada. The samples were assayed using lithium metaborate-tetraborate fusion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Actlab's analytical code "8-REE" includes 45 trace elements, 10 major oxides, Loss on Ignition, and mass balance. The samples were subjected to a quality assurance and quality control (QAQC) program consisting of the insertion of blank samples and certified reference materials at Lofdal and the preparation of a laboratory duplicate at the sample preparation facility in Windhoek. The primary laboratory assay values were confirmed by umpire sample analysis by ALS. A selection of 263 samples, was sent to ALS Okahandja, Namibia for further shipment to ALS Johannesburg, South Africa. Samples were analysed using analytical code ME-MS81h (lithium meta-borate fusion and ICP-MS). The Qualified Person is satisfied that the assay results are of sufficient accuracy and precision for use in the future update of the Mineral Resource Estimation. New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.6m free cash flow). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$21.6m market cap, or US$16.3m). Annuncio • May 19
Namibia Critical Metals Inc. Announces the Appointment of Steve Herlihy to the Board of Directors Namibia Critical Metals Inc. announced the Appointment of Steve Herlihy to the Board of Directors. Mr. Herlihy is the CFO of Bannerman Energy Ltd. Mr. Herlihy is a Chartered Accountant with over 30 years' professional experience. His extensive background in the resources sector includes several roles within BHP Limited, commencing as global Financial Controller for BHP Iron Ore before progressing to special project roles. As part of BHP's Strategy and Innovation leadership team, Mr. Herlihy led a team of analysis and improvements specialists that focused on operational and supply chain effectiveness. Prior to joining BHP, Mr. Herlihy held senior commercial, finance and business development roles within tier one global resources businesses including Newmont Corporation, Newcrest Mining, Normandy Mining, WMC Resources and Placer Dome/Barrick Gold. More recently, Mr. Herlihy was a partner of a national accounting and advisory firm that was part of a top-ten global accounting network. As leader of their Consulting and Corporate Finance Advisory Practice, he specialized in investment evaluation, strategic planning, business transformation, corporate governance, risk management and compliance advisory to a range of listed and unlisted clients. Mr. Herlihy has deep, hands-on experience in project finance and M&A activities. His broad transactional experience ranges from negotiating small joint venture agreements through to lead commercial roles on large-scale multinational transactions. Mr. Herlihy holds a Bachelor of Business (Accounting) from Curtin University, a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australia and a Masters of Business Administration (MBA) from Deakin University. Annuncio • May 18
Namibia Critical Metals Forms "Rare Earth Alliance Namibia" with Two Other Rare Earth Companies to Conduct Feasibility Study on Ree Metal Separation Facility in Namibia Namibia Critical Metals Inc. announce that it entered into a Memorandum of Understanding (MoU) to conduct a feasibility study for a rare earth separation plant in Namibia. The proposed separation plant aims at producing rare earth metals which can be directly used in the production of permanent magnets for electric vehicles and wind turbines. The recent Preliminary Economic Assessment of the Company's expanded project "Lofdal 2B-4" foresees an annual production of about 2,000 t of mixed rare earth oxides (MREO) over 16 years containing an average of about 117 tonnes dysprosium oxide and 17.5 tonnes terbium oxide, the most valuable rare earth elements. Separation of the rare earth elements (REE) is globally a major bottleneck for a de-risked supply chain for those strategic critical raw materials. While several separation technologies are available, separation facilities need a significant upfront capital expenditure, a steady raw material supply and a critical mass to operate viably. Therefore, the initiative was taken by the three advanced rare earth project developers in Namibia to jointly embark on a feasibility study for such a separation plant in Namibia. The parties of the MoU agreed to explore and evaluate the technical potential and viability of developing a rare earth element (REE) separation facility to extract and separate REE from concentrates of mixed rare earth oxides produced in Namibia and possibly for rare earth concentrates and semi-products from outside of Namibia. Key elements of the feasibility study are the potential supply and specifics of REE concentrates from Namibian mines and other sources, potential locations for the facility, infrastructure requirements and all regulatory and environmentally considerations. Annuncio • Feb 01
Namibia Critical Metals Inc. Commences Final In-Fill Drilling for the Expanded Lofdal 2B-4 Heavy Rare Earth Project Namibia Critical Metals Inc. announced that it has commenced resource in-fill drilling as part of the Pre-Feasibility Study at the significantly expanded "Lofdal 2B-4" Heavy Rare Earth Project. A final drill program was worked out by the Company with support by The MSA Group to increase the level of resource categories as required for the PFS for the expanded project "Lofdal 2B-4". Phase 1 of the resource drilling campaign has commenced at the end of January 2023 and aims at drilling of 35 RC holes for a total of 4,930 m in Area 4 until mid-March 2023. A Phase 2 campaign of 4 RC holes of 310 m length each is planned to conclude RC drilling for PFS by end of March 2023. Four in-fill boreholes are planned at Area 2B to obtain samples across the planned pit "2B" for variability test work at SGS Lakefield. Variability tests will conclude metallurgical test work to conduct flotation and hydrometallurgical processing on pilot plant scale. Further, the Company completed a geotechnical drilling campaign on 15thDecember 2022. A total of 7 holes for 1,326 m was drilled in the hanging walls of the planned pits "2B" and "4" to take samples for geotechnical testing. The geotechnical studies are contracted to SRK Consulting (South Africa) (Pty) Ltd. in Johannesburg and are planned to be completed by end of March 2023. The Lofdal deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements, and is targeting to become a long term, sustainable supply of heavy rare earths. Annuncio • Nov 15
Namibia Critical Metals Inc. Files Ni 43-101 Preliminary Economic Assessment Report for the Significantly Expanded Lofdal Heavy Rare Earth Project 2B-4 on Sedar Namibia Critical Metals Inc. announced that the updated NI 43-101 Preliminary Economic Assessment for the Lofdal Heavy Rare Earth Project 2B-4in Namibia has been filed on SEDAR. The Lofdal deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements. The Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation targeting a long term, sustainable supply of heavy rare earths to Japan. The economic analysis assumes that the Project will be 100% equity financed and uses parameters relevant as of September 2022, under conditions likely to be applicable to project development and operation and analyzes the sensitivity of the Project to changes in the key Project parameters. All costs have been presented in United States Dollars (USD) and wherever applicable conversion from South African Rand (ZAR) has utilized an exchange ratio (ZAR/US$) of 16.07. Mining and treatment data, capital cost estimates and operating cost estimates have been put into a base case financial model to calculate the IRR and NPV based on calculated Project after tax cash flows. The scope of the financial model has been restricted to the Project level and as such, the effects of interest charges and financing have been excluded. Annuncio • Oct 04
Namibia Critical Metals Inc. Announces Positive Preliminary Economic Assessment for the Significantly Expanded Lofdal Heavy Rare Earth Project “2B-4” Namibia Critical Metals Inc. announce the results of its Preliminary Economic Assessment ("PEA") for the Lofdal Heavy Rare Earth Project "2B-4" ("Lofdal" or the "Project") in Namibia. This PEA aims at a significantly larger annual run-of-mine and plant throughput of 2 million tonnes per year and longer mine life than the historical PEA of 2014 by mining from two sub-deposits namely "Pit 2B" and "Pit 4". Further, the processing flow sheet was simplified to a direct flotation of the run-of-mine material and expanded to include a hydrometallurgical unit producing a >98% mixed rare earth oxide as final product instead of xenotime concentrate. The Lofdal deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements. The Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation ("JOGMEC") targeting a long term, sustainable supply of heavy rare earths to Japan. The Lofdal Heavy Rare Earths deposit represents a district-scale (20 km x 10 km) heavy rare earth element (HREE) mineralisation in subvolcanic hydrothermal alteration zones. While high grade zones (>0.2% HREE) occur locally, the majority of the deposit resembles tens of meters wide and kilometer-long zones of low grade HREE-mineralisation with an average grade of about 0.1% HREE. In order to develop the Lofdal project into a long-term producer of HREE, the Company focussed recent processingtest work on cost-efficient technologies to upgrade lower grade material aiming at effects of economy of scale in a potential large-scale mining operation. The Company mined a total of 34,500 tonnes of mineralised material from a starter pit in the central Area 4 deposit in October 2021 (Press release 29 November 2021). A 500 tonne sample was taken from the mineralized zone at a depth between 12 and 15 metres in order to minimize effects of surface related oxidation. The material was blended to provide homogenized samples which are representative of the wider deposit at a grade of about 0.187% TREO for bulk sample test work. Annuncio • Aug 23
Namibia Critical Metals Inc. Provides an Update on the Development of the Lofdal Heavy Rare Earth Project Namibia Critical Metals Inc. provided an update on the development of the Lofdal Heavy Rare Earth project. The deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements. The Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation ("JOGMEC") targeting a long term, sustainable supply of heavy rare earths to Japan. SGS Minerals Services Canada (SGS) completed acid bake and leach test work on a bulk flotation concentrate which was produced by direct flotation of run-of-mine material from the Lofdal starter pit. The test results are very similar to the successful hydrometallurgical test work conducted on a flotation concentrate produced on sorter products. SGS used the proven hydrometallurgical flowsheet which was developed in 2021 (press release of 7 October 2021) with an acid bake to crack the main rare earth mineral xenotime, purify the pregnant leach solution and to precipitate a rare earth oxalate, which is subsequently calcined to form a product containing >98% total rare earth oxides (TREO). The acid bake process and concurrent removal of impurities is highly efficient and resulted in a >94% recovery of Dysprosium and Terbium in the leaching operation of the processing flow sheet. A mineral concentrate was produced by bulk flotation for downstream hydrometallurgical testing. Four bulk flotation tests demonstrated repeatable flotation performances on the low grade direct run-of-mine feed material. The average cleaner flotation from the bulk test runs produced a concentrate grade of 4.7-6% TREO (press release of 26 July 2022). This flotation concentrate marks the third such concentrate tested at the laboratories of SGS in Lakefield, Ontario, to determine the potential for producing a marketable rare earth product with minimal impurities. The previous hydrometallurgical test work at SGS had demonstrated the acid bake route is preferred due to lower reagent costs and higher recovery of the heavy rare earths compared to the caustic crack route. A total of three acid bake and water leach tests were completed throughout the current test program to investigate the dissolution of rare earth elements (REE) and the behaviour of gangue minerals through the addition of sulphuric acid at elevated temperatures (300°C) and at a range of acid dosages (1-1.5 t/t concentrate basis). Under previously determined optimum conditions (2021 test program at SGS), these tests showed very good REE recoveries with 96% for yttrium, 95% for dysprosium and 94% for terbium. Results of the impurity removal and crude REE precipitation tests on the leached solutions are awaited to further corroborate chemistries between the test programs on the two flotation concentrates. While the results are very positive, there remains room to optimise these processes regarding OPEX and CAPEX as well as recoveries in continuous pilot plant testing during pre-feasibility study. The addition of a hydrometallurgical plant at Lofdal would create further jobs in the southern Kunene Region of Namibia and provide a marketable product for export. The rare earth oxalate product with thorium and uranium levels below 3 ppm would be acceptable for import into Japan without restrictions or penalties. Annuncio • Jul 28
Namibia Critical Metals Inc. Announces Lofdal Heavy Rare Earth Deposit: Exceptionally Positive Flotation Test Program Completed Namibia Critical Metals Inc. provided an update on the development of the Lofdal Heavy Rare Earth project. Lofdal is one of only two primary xenotime projects under development in the world, which requires pioneering processing approaches to this unusual type of rare earth mineralisation. The deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements used in high powered magnets for electric vehicle motors and other high-tech applications. The Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation targeting a long term, sustainable supply of heavy rare earths to Japan. The Company has successfully completed an extended flotation test work program with more than 110 individual flotation test regimes. The tests were conducted at two specialized institutions at SGS Minerals Services Canada and UVR-FIA in Germany. As an overall result, a simplified flowsheet was developed which allows for the direct flotation of run-of-mine material resulting in an upgrade of the heavy rare earths in the flotation concentrate by an impressive factor of more than twenty. Lofdal project The Lofdal Heavy Rare Earths deposits represent district-scale heavy rare earth element mineralisation in subvolcanic hydrothermal alteration zones. While high grade zones occur locally, the majority of the deposit resembles tens of meters wide and kilometer-long zones of low grade HREE-mineralisation with an average grade of about 0.1% HREE. Drilling in 2020 increased the Mineral Resource Estimate of the project more than seven-fold to 44.76 Mt at a grade of 0.17% TREO1 and 8.67 Mt at a grade of 0.17% TREO in the Inferred category contained in only the two sub-deposits of "Area 4" and "Area 2B", and applying the same cut-off of 0.1% TREO as in the historical PEA of 2014. To develop the Lofdal project into a long-term producer of HREE, the Company focused recent processing test work on cost-efficient technologies to upgrade lower grade material aiming at effects of economy of scale in a potential large-scale mining operation. Bulk sampling from starter pit: The Company mined a total of 34,500 tonnes of mineralised material from a starter pit in the central Area 4 deposit in October 2021. A 500-tonne sample was taken from the mineralized zone at a depth between 12 and 15 metres in order to minimize effects of surface related oxidation. The material was blended by front-end loaders to provide homogenized samples which are representative of the wider deposit at a grade of about 0.187% TREO for bulk sample test work. Mineralogical characterisation of the feed sample was done by MLA and TESCAN Integrated Mineral Analyzer, a fully automated, high throughput, analytical scanning electron microscope for mineralogical studies including mineral liberation analysis, size-by-size liberation and mineral association. Key results demonstrated median xenotime grain sizes of 26 µm and 10 µm for the two head fractions tested respectively. The main HREE-mineral xenotime, was 32% liberated in the +38 µm fraction and 76% liberated in the -38 µm fraction. Flotation test program: The current metallurgical bulk sample test program was amended to include flotation tests directly on the fresh, low-grade sample, by-passing initially planned XRT and XRF sorting a well as magnetic separation steps prior to flotation, both of which would result in additional losses, CAPEX and OPEX. Flotation test work was carried out at SGS Canada Inc. in Lakefield, Ontario, and at UVR-FIA GmbH in Freiberg, Germany. Both institutions, cumulatively conducted over 110 individual flotation tests using several types of collectors, depressants and considered thrifting of physical flotation conditions. The most successful flotation test series on the milled bulk sample were performed by SGS Canada and resulted in exceptional upgrade ratios of between 22 and 27. The impact of high intensity conditioning ahead of flotation yielded clearly improved flotationperformance. A range of collector dosages of were tested to determine the upper and lower envelopes for flotation performance versus OPEX. The lower carbonate content in the fresh feed material compared to historical sample material from trenches resulted in significantly lower depressant requirements in the flotation regime. Coarser grind, as well as de-sliming of the flotation feed, water exchange techniques and regrind between rougher and cleaner flotation stages, and varying temperature regimes were tested by UVR and SGS. None of these tests resulted in significant improvements in performance or cost savings. After defining the optimal flotation conditions, bulk flotation tests were conducted in quadruplicate to produce a flotation concentrate for downstream hydrometallurgical testing. Four bulk flotation tests demonstrated repeatable flotation performances on the low-grade feed material. The average cleaner flotation concentrate from the bulk test runs was produced at an overall mass pull of 2.7-3.2% with a product grade of 4.7-6% TREO and a recovery of 67-70% TREO. Way forward: Downstream hydrometallurgical test work on the flotation concentrate is in progress with preliminary results confirming similar acid bake and leach performance as in the previous program. The revised and significantly simplified flowsheet for the Lofdal project is currently under economic evaluation based on an updated mine plan. An engineering sizing, capital and operating costing validation exercise by SGS Bateman is expected by end August 2022. Annuncio • Apr 01
Namibia Critical Metals Inc. announced that it has received CAD 0.75 million in funding On a March 31, 2022, Namibia Critical Metals Inc. closed the transaction. The common shares and warrants of the company issued pursuant to the transaction are subject to a four-month hold period expiring August 1, 2022. The company paid finder’s fees of 6% to Wellington-Altus Private Wealth Inc. (CAD 3,000), Canaccord (CAD 900), Haywood Securities Inc. (CAD 6,000), GloRes Securities Inc. (CAD 4,800) and BMO Nesbitt Burns Corp. (CAD 1,500) in respect of CAD 270,000 of units subscribed for. Annuncio • Feb 24
Namibia Critical Metals Inc. announced that it expects to receive CAD 0.5 million in funding Namibia Critical Metals Inc. announced a private placement of 2,500,000 units at a price of CAD 0.20 per unit for gross proceeds of up to CAD 500,000 on February 23, 2022. Each unit consist of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of CAD 0.35 for a period of 24 months from date of closing. The transaction is subject to the approval of the TSX Venture Exchange. The securities to be issued will have a four-month hold period Annuncio • Feb 02
Namibia Critical Metals Inc. Updates First Gold Drill Targets Identified by Ground Geophysics over Gold and Arsenic Soil Anomalies At Erongo Project Namibia Critical Metals Inc. provide an update on exploration activities on its 95% owned Erongo and Grootfontein Projects. The company has completed a multiple tool geophysical survey over the Kanona Target onthe Erongo Project for drill target generation over previously defined coinciding gold and arsenic anomalies. Combined magnetic, IP and pole-dipole EM survey targeted area of gold and arsenic anomalies at Kanona North. Identified coinciding conductivity and magnetic anomalies point to a structural target forming a fold structure in a second order fault zone over 1.5 km. Dril plan established to test the targets with 14 RC holes of 3,700 m. The Erongo and Grootfontein Projects consists of three Exclusive Prospecting Licences with a total area of 172,842 ha (1,728 km2) and cover ground prospective for orogenic gold mineralisation and various types of base metal mineralisations. The Company's EPLs are located in the Central Namibian Gold Belt which hosts a number of significant orogenic gold deposits including the Navachab Gold Mine, B2Gold's Otjikoto Gold Mine and Osino's more recent discovery of the Twin Hills deposit. Annuncio • Sep 21
Namibia Critical Metals Inc. Provides an Update on the Development of the Lofdal Heavy Rare Earth Project Since Granting of A Mining Licence in July Namibia Critical Metals Inc. provided an update on the development of the Lofdal Heavy Rare Earth project since granting of a Mining Licence in July. The Company has commenced earth works to develop a starter pit to a depth of about 15 metres at the Area 4 deposit. Mining activities are contracted to Gecko Mining (Pty) Ltd. and blasting to Bulk Mining Explosives A total of 32,100 tons of mineralized material will be extracted, of which 8,300 tons will be representative of fresh (unoxidized) mineralized material from 10 to 15 metre depth and will undergo pilot-scale test work for further processing optimization. The Lofdal heavy rare earth deposit is one of only two primary xenotime projects under development in the world. The deposit has the potential for significant production of dysprosium and terbium, the two most valuable rare earth elements used in high powered magnets and other high-tech applications. The Lofdal Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation ("JOGMEC") targeting a long term, sustainable supply of heavy rare earths to Japan. The Company is also pleased to announce that JOGMEC, has increased the project funding by additional $437,000 bringing the Term 1 and 2 expenditures to date to $6,600,000. Darrin Campbell, President of Namibia Critical Metals stated "We are incredibly pleased with the rapid progress of the project after the grant of the Mining License in July. Moving into the pilot-scale phase is yet another impressive milestone achieved in such a short period with our JOGMEC partners. We believe that Lofdal will eventually be recognized as one of the top heavy rare earths deposits of dysprosium and terbium in the western world. Starter pit and pilot-scale test work. The Company has engaged highly experienced local mining contractor Gecko Mining (Pty) Ltd. to develop the starter pit over a surface area of 120 metres x 25 metres in the central part of the Area 4 deposit (Figure 1). Hard rock blasting is subcontracted to the international specialist group Bulk Mining Explosives (BME). The initial depth of 15 meter is planned to be reached by the second week of October 2021. In total about 32,100 tons of mineralized material hosted by eight mining blocks of the current mine model will be extracted of which two blocks with about 8,300 tons are fresh mineralized material. This fresh mineralized material is regarded as representative for the expected typical run-of-mine below oxidation level of the entire Lofdal deposit. The starter pit entails mining of about 10,000 tons of waste rock from the hanging wall. Gecko Mining (Pty) Ltd. is also contracted to crush and screen the fresh mineralized material. Sub-samples will be shipped for pilot-scale test work including XRF sorting at Rados South Africa, XRT and multi-sensor sorting at Tomra Hamburg, and for lab-scale magnetic separation and flotation tests at SGS Canada. Planned test work is designed based on the results of the current lab-scale processing test programs by the above companies to further optimize the key processing steps while operating with industrial scale processes. Executive Departure • Jun 09
Chairman of the Board Gerald McConnell has left the company On the 28th of May, Gerald McConnell was replaced as CEO by Darrin Campbell. Gerald still personally held 25.18m shares (CA$3.4m worth) as of March 2021. This is 13% of the company. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Annuncio • May 21
Namibia Critical Metals Inc. Announces an Updated Ni 43-101 Mineral Resource Estimate for the Lofdal Heavy Rare Earths Project ("Lofdal") in Northwestern Namibia Namibia Critical Metals Inc. announced an updated NI 43-101 mineral resource estimate for the Lofdal Heavy Rare Earths Project ("Lofdal") in northwestern Namibia. 1454% increase in total Measured and Indicated Mineral Resource tonnage from 2.88 Mt at 0.32% TREO to 44.76 million tonnes at 0.17% TREO for combined Area 4 (including the first Measured Resource for Lofdal) and Area 2B based on the same cut-off of 0.1 % TREO as in the previous PEA filed on October 1, 2014; Term 1 objectives with JV partner JOGMEC of doubling the mineral resource far exceeded; 164% increase in total Inferred Mineral Resource tonnage to 8.67 million tonnes at a grade of 0.17% TREO for combined Area 4 and Area 2B based on 0.1 % TREO cut-off; 6 times increase in contained TREO in Measured & Indicated categories to 76,950 tonnes; Compared to previous mineral resource estimate, contained dysprosium oxide (4,060 tonnes) and terbium oxide (620 tonnes) in the Measured and Indicated categories increased 6.1 times and 6.7 times, respectively; Dysprosium oxide price in the "moderate down case scenario" for 2021 at 420 USD per kilogram and terbium oxide price at 1,125 USD per kilogram (Adamas Intelligence, 2021). Annuncio • Apr 27
Namibia Critical Metals Inc. Provides an Update on Exploration Activities on Its 95% Owned Grootfontein Project Namibia Critical Metals Inc. provided an update on exploration activities on its 95% owned Grootfontein Project. The Grootfontein Project consists of two large Exclusive Prospecting Licences with a total area of 163,784 ha (1,638 km2) and covers ground prospective for orogenic gold, magmatic copper-nickel-PGE and sediment-hosted lead-zinc-silver-copper-vanadium mineralisation. As previously announced (Company press release March 26, 2021) a number of geophysical surveys have now been completed and the large-scale airborne EM survey will commence May 6. Initial geophysical results have already generated several drill targets. Additional targets will be tested upon completion of the airborne survey. Executive Departure • Apr 02
President & Director Donald Burton has left the company On the 31st of March, Donald Burton's tenure as President & Director ended after 10.6 years in the role. As of December 2020, Donald personally held 1.71m shares (CA$418k worth at the time). Donald is the only executive to leave the company over the last 12 months. Annuncio • Mar 14
Namibia Critical Metals Inc. announced that it has received CAD 0.6625 million in funding On March 12, 2021, Namibia Critical Metals Inc. (TSXV:NMI) closed the transaction. Each whole warrant is exercisable for one common share at a price of CAD 0.35 until March 12, 2022. The common shares and warrants of the company issued pursuant to the Private Placement are subject to a four-month hold period expiring July 13, 2021. Finder’s fees of 6% were paid to Echelon Wealth Partners Inc. CAD 6,000 and PI Financial Corp. CAD 750 in respect of $112,500 of units subscribed for. Annuncio • Mar 12
Namibia Critical Metals Inc., Annual General Meeting, May 27, 2021 Namibia Critical Metals Inc., Annual General Meeting, May 27, 2021. Is New 90 Day High Low • Jan 21
New 90-day high: CA$0.34 The company is up 42% from its price of CA$0.24 on 22 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 5.0% over the same period. Annuncio • Jan 06
Namibia Critical Metals Heavy Rare Earth Project - New Results Confirm Multiple Dysprosium Zones At Area 2B, Area 4 Drilling Completed and Mining License Application Advances Namibia Critical Metals Inc. provided an update with further drill results from the Area 2B satellite deposit on the Lofdal Heavy Rare Earth Project in northern Namibia. Lofdal is a joint venture between the Company and Japan Oil, Gas and Metals National Corporation ("JOGMEC") which is operating under a Term 1 budget of CAD 4,100,000. Since the Company's previous update (November 26, 2020) progress highlights are summarized as follows: Additional drill results from Area 2B satellite deposit confirm multiple dysprosium zones to 190 vertical meters, Results of 13 additional holes include 3 m at 0.84% TREO with 450 ppm Dy2O3, 7 m at 0.58% TREO with 280 ppm Dy2O3, and 7 m at 0.26% TREO with 226 ppm Dy2O3 (which includes the highest grade 1 m intercept of 1,123 ppm Dy2O3), Area 2B deposit remains open along strike and at depth. Nine drill holes pending analyses, Area 4 resource drilling program successfully completed with established strike length of 1,125 meters. Highlights of dysprosium enriched zones reported include: 8 m at 0.29% TREO with 185 ppm Dy2O3 and 60.3% heavy rare earth enrichment in L2BD0035 (including 1 meter at 0.57% TREO with 452 ppm Dy2O3 and 80.1% heavy rare earth enrichment), 7 m at 0.26% TREO with 226 ppm Dy2O3 and 77.2% heavy rare earth enrichment in L2BD0044 (including 1 meter at 1.24% TREO with 1,123 ppm Dy2O3 and 91.1% heavy rare earth enrichment), 7 m at 0.58% TREO with 280 ppm Dy2O3 and 49.9% heavy rare earth enrichment in L2BD0046 (including 2 meters at 1.04% TREO with 712 ppm Dy2O3 and 73.5% heavy rare earth enrichment), 3 m at 0.84% TREO with 450 ppm Dy2O3 and 57.6% heavy rare earth enrichment in L2BD0037 (including 1 meter at 0.90% TREO with 808 ppm Dy2O3 and 98.1% heavy rare earth enrichment). Details of all 13 reporting drill holes from Area 2B are provided in Table 1 and a complete listing of all analytical results is provided in Table 2. Intercept widths are reported as down the hole widths and are not necessarily true widths. Completion of Area 4 Drill Program: The 2020 drill program has extended the strike length of the mineralized zone from 700 meters to 1,100 meters, and the drilled depth from 180-225 vertical meters to 250-350 vertical meters. The total drilling program at Area 4 comprised 10,162 meters in 56 holes. Results from 33 holes remain pending. The MSA Group ("MSA") of South Africa has been engaged to update the Area 4 resource which will incorporate all the new drilling and is scheduled for delivery before March 31, 2021. The Lofdal Heavy Rare Earths Project is located 450 kilometers northwest of the capital city of Windhoek in the Kunene Region of north-western Namibia. The project area covers 314 square kilometers centered on the Lofdal carbonatite complex which hosts a number of rare earth occurrences, including the Area 4 deposit and the Area 2B deposit. Mineralization in both deposits is dominated by xenotime, which is highly enriched in heavy rare earths. Field operations follow strict company Standard Operating Procedures with regards to drilling practices, sampling procedures, security of transport and analytical procedures as per recommendations in the Canadian Institute of Mining, Metallurgy and Petroleum CIM's Best Practices Guidelines (2018), which includes strict internal quality assurance and quality control procedures ("QAQC") for the insertion of blanks, standards and duplicates. QAQC samples account for 10% of samples submitted in each batch. Sample preparation and analytical work for the drilling program is being provided by Activation Laboratories Ltd. ("Actlabs" Windhoek, Namibia and Ancaster, Ontario) employing appropriate crushing and pulverization procedures (Actlabs Code RX-1) on half sawn core samples provided from the selected intervals, utilizing lithium metaborate/tetraborate fusion and ICP-MS techniques suitable for rare earth element analyses (Actlabs Code 8). Activation Laboratories is an ISO/IEC 17025 accredited laboratory. Is New 90 Day High Low • Jan 05
New 90-day high: CA$0.26 The company is up 18% from its price of CA$0.22 on 06 October 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Annuncio • Dec 16
Namibia Critical Metals Inc. Provides an Update on Its Gold Exploration Programs on the Grootfontein and Erongo Projects Namibia Critical Metals Inc. provided an update on its gold exploration programs on the Grootfontein and Erongo projects which cover 1,950 km2 in the Central Namibian Gold Belt. Both projects underwent regional exploration with the objective of identifying orogenic gold deposits. Progress to date is reported as follows: Three gold targets defined at Grootfontein (80 km northeast of B2 Gold's Otjikoto Mine) based on low detection limit gold anomalies, up to 6 kilometers in strike length coincident with favourable structural lineaments. The delineation of a major gold anomaly covering 25 km2 at the Highlands Target underlines the potential for gold discoveries within the massive Grootfontein Mafic Complex. Grootfontein target areas covered by thick calcrete. Follow-up with high resolution UAV magnetic and ground induced polarization (IP) surveys to define drill targets. Soil sampling completed over Erongo (20 km from Osino Resource's Twin Hills discovery) has identified three priority target areas defined by strong arsenic anomalies coincident with favourable structural lineaments. Namibia Critical Metals holds four Exclusive Prospecting Licences (EPLs) comprising 2,150 km2 within the Central Namibian Gold Belt. The EPLs are situated within the Central Namibian Gold Belt which hosts a number of significant orogenic gold deposits including the Navachab Gold Mine (4.41 Moz)1, the Otjikoto Gold Mine (1.83 Moz)2 and more recently the discovery of the Twin Hills deposit. Gold mineralization throughout the belt is associated with northeast striking fault zones and second and third order structures related to these faults which have been identified on the Company's EPLs. Work by the Company completed to date includes detailed structural interpretations and mapping over the entire Grootfontein and Erongo project areas, and regional soil sampling programs over designated target areas. Over 16,000 soil samples have been collected and analysed for pathfinder elements using handheld XRF analyzers. Low detection gold analyses have been completed on 5,685 of these samples from Grootfontein. Gold analyses are pending from Erongo. The Grootfontein project area comprises two EPLs covering 1,643 km 2 located 80 kilometers northeast of B2 Gold's Otjikoto Gold Mine and 20 kilometers northeast of Osino Resources' Otjikoto East Project. The geology of the property is dominated by the Grootfontein Mafic Complex (GMC). Grootfontein lies at the northeastern extremity of the Central Namibian Gold Belt where the Grootfontein Shear Zone (GSZ) transects the GMC and is bounded to the south by the Waterberg Fault. Gold anomalies identified to date at Grootfontein occur within the mafic rocks of the GMC itself and in basement and Damaran Supergroup rocks in proximity to the Grootfontein Shear Zone. The project area has extensive alluvial and calcrete cover up to 40 meters in thickness. Annuncio • Dec 05
Namibia Critical Metals Inc. Provides an Update on the Metallurgical Test Work Program on the Lofdal Heavy Rare Earth Project in Northern Namibia Namibia Critical Metals Inc. provided an update on the metallurgical test work program on the Lofdal Heavy Rare Earth Project in northern Namibia. Lofdal is a joint venture between the company and Japan Oil, Gas and Metals National Corporation ("JOGMEC") which is operating under a Term 1 budget of CAD 4,100,000. The company recently reported an increase of 60% to the strike length of the Area 4 deposit and the inclusion of the first satellite heavy rare earth deposit. The Lofdal Heavy Rare Earths Project is located 450 kilometers northwest of the capital city of Windhoek in the Kunene Region of north-western Namibia. The project area covers 314 square kilometers centered on the Lofdal carbonatite complex which hosts a number of rare earth occurrences, including the Area 4 deposit. Mineralization at Area 4 is dominated by xenotime, which is highly enriched in heavy rare earths. Lofdal is unique as one of only two primary xenotime deposits under development in the world. As demonstrated in the Preliminary Economic Assessment1 Lofdal has the potential for significant production of dysprosium and terbium, the two most valuable heavy rare earths used in high powered magnets. The joint venture with JOGMEC is driven by Lofdal's potential to be a long term, sustainable supply of heavy rare earths for Japan. The two major operating rare earth mines outside of China are Mountain Pass (USA) and Mount Weld (Australia) both of which are light rare earth-enriched projects and therefore major suppliers of the light rare earths praseodymium and neodymium. Prices for all the main magnet-related rare earths - praseodymium, neodymium, terbium and dysprosium have seen significant gains over the past 12 months with particularly sharp increases in the past 6-8 weeks. Terbium (up 93.2%) and dysprosium (up 24.5%) are the main value drivers in heavy rare earth projects such as Lofdal. A number of sequential processing stages have been recommended for treatment of the xenotime mineralization at Lofdal and include upfront ore sorting, magnetic separation, flotation and gangue acid leaching to produce a mineral concentrate. Each of these stages is being evaluated during Term 1 using a representative 18 tonne sample that was collected from trenches along 650 meters of strike length from the Area 4 deposit. Ore sorting technologies provide opportunities to reject considerable volumes of waste thereby upgrading run-of-mine feed before requiring more expensive crushing and milling for
downstream processing. Test work has been completed on 8.6 tonnes confirming the amenability of Lofdal mineralization to be significantly upgraded using either x-ray fluorescence ("XRF") or x-ray transmission ("XRT") sorting technology. Mineralization at Lofdal is amenable to XRF sorting by analyzing for the element yttrium, which is directly related to the concentration of the heavy rare earth mineral xenotime. It is amenable to XRT sorting because of the dominance of higher density gangue minerals (carbonates) to host the xenotime mineralization. XRF sorting tests were carried out by Rados International in Pretoria on size fractions between 20-150 mm, and XRT sorting tests were carried out by IMS/Steinert on size fractions between 10-75 mm in Johannesburg. A total of 8.6 tonnes was prepared from the representative sample for the sorting tests by Light Deep Earth ("LDE") in Pretoria and final ICP-MS analyses appropriate for rare earth element analyses (method code ME-MS81h with lithium meta- borate fusion) were carried out by ALS Minerals (sample preparation in Johannesburg and analyses in Vancouver). QAQC was monitored through internal laboratory standards, blanks and duplicates with the provision of refereed rare earth standards from Lofdal. Very clear grade, recovery and mass pull curves were established for both technologies and
can be used to evaluate the most favourable economic scenarios available to the project. Outcomes for upgrading of dysprosium from all size fractions for both XRF and XRT tests, and grade recovery curves for one size fraction. Annuncio • Nov 28
Namibia Critical Metals Heavy Rare Earth Project - Area 4 Strike Length Extended by 60% and First Satellite Deposit Successfully Drilled for Planned Resource Update Namibia Critical Metals Inc. provided an update on progress on the Lofdal Heavy Rare Earth Project in northern Namibia "Lofdal" or "the project"). Lofdal is a joint venture between the Company and Japan Oil, Gas and Metals National Corporation ("JOGMEC") which is operating under a Term 1 budget of CAD 4,100,000 . Highlights of the program to date are as follows: 14,000 m diamond drilling completed in last 8 months with positive results confirming unique primary heavy rare earth mineralisation of district scale Significant extension of Area 4 deposit along strike and at depth (highest grade intercept 3 m @ 1,773 ppm Dy2O3), deposit remains open to the west and at depth First systematic resource drilling of a satellite heavy rare earth deposit completed at Area 2B with positive results. Drilling confirms two to three subparallel dysprosium mineralized zones (highest grade intercept from first 7 analysed boreholes 1 m @ 893 ppm Dy2O3); Area 2B to be added to 43-101 resource estimate Site due diligence for 43-101 report completed by MSA Group. Updated resource estimate on schedule for delivery end of March 2021 Drilling program continues with two rigs for further infill drilling at Area 4 in December, and a systematic drill test of a second satellite deposit at Area 5C in January-February 2021. The Lofdal Heavy Rare Earths Project is located 450 kilometers northwest of the capital city of Windhoek in the Kunene Region of north-western Namibia. The project area covers 314 square kilometers centered on the Lofdal carbonatite complex which hosts a number of rare earth occurrences, including the Area 4 deposit. Mineralization at Area 4 is dominated by xenotime, which is highly enriched in heavy rare earths. Drilling in the Term 1 program has focused on doubling the size of the existing Area 4 resource. With the injection of an additional CAD 1,100,000 to the Term 1 budget sufficient drilling has now been completed to add Area 2B to the planned 43-101 update. Results from the first ten holes in Area 4 were previously reported and results from an additional thirteen holes in Area 4 and seven holes in Area 2B are reported here. Reconnaissance drilling on the Northern Splay and Dolomite Hill targets did not return significant results. Drilling will be completed in Area 4 in December and following the Christmas beak, will resume in Area 5C where additional resource targets will be evaluated. Annuncio • Sep 22
Namibia Critical Metals Inc. Announces an Additional CAD 1.1 Million to Expand and Accelerate Drill Program at the Lofdal Heavy Rare Earth Project Namibia Critical Metals Inc. announced that Japan Oil, Gas and Metals National Corporation will provide an additional $1,100,000 to expand and accelerate the current drilling program for the Lofdal Heavy Rare Earths Project ("Lofdal") in northern Namibia. This additional commitment will increase the Term 1 joint venture expenditure from $3,000,000 to $4,100,000 by March 31, 2021. All references to dollar amounts are in Canadian dollars. This increase in funding allows for an additional 6,000 m of diamond drilling to develop resources at Lofdal. A second rig has been deployed to site in order to maintain Term 1 program scheduling. Term 1 Drilling Program Expanded: The initial Term 1 budget provided for a total of 7,200 m of resource drilling in Area 4 and 1,500 m of exploration drilling at the Northern Splay and Dolomite Hill to be completed by year end with the primary objective of doubling the resource size in Area 4. Following recommendations to the Joint Venture Management Committee, the drilling budget has been increased to enable resource evaluations in two additional areas - Area 2B and Area 5, and to supplement drilling in Area 4 with an additional 1,000 m of drilling. This additional 6,000 m of drilling will provide for a total of 8,200 m in Area 4, 2,600 m in Area 2B and 2,400 m in Area 5. Both Area 2B and Area 5 have historic drilling and trenching that was carried out by the company during the period 2010-2012. A second drill rig has been deployed to the project to maintain schedule and drilling will now continue through to March 2021. Drilling in Area 4 is over 60% completed and on schedule to deliver an updated 43-101 resource estimate in first quarter 2021. The company will now target to include a maiden resource estimate for Area 2B in the same report. In order to meet this additional objective both drill rigs are currently operating in Area 2B to complete that planned drilling before moving back to Area 4. Drilling in Area 5 will commence in first quarter 2021 after which time results will be assessed for inclusion in a separate resource estimate. Annuncio • Aug 25
Namibia Critical Metals Inc. announced that it expects to receive CAD 5 million in funding from Alumina Partners (Ontario) Ltd. Namibia Critical Metals Inc. (TSXV:NMI) entered into an agreement to draw down equity facility for gross proceeds of CAD 5,000,000 draw down equity facility on August 24, 2020. The company has the right to draw down on the CAD 5,000,000 facility, at its sole discretion, through equity private placement tranches of up to CAD 250,000 each for two years from new investor Alumina Partners (Ontario) Ltd. Each tranche will be a placement of units, with each unit comprising one common share and one-half of one common share purchase warrant. The units will be priced at a discount of 15% to 25% from the then most recent closing price of the shares on the TSX Venture Exchange at the time of the applicable company draw-down notice The warrants will be issued at a 40% premium over the market price of the shares and will have a term of 24 months. Each tranche of units issued under the investment agreement will be subject to the acceptance of the TSX Venture Exchange, and the securities issued will be subject to the customary 4-month hold period. There are no standby charges or other upfront fees associated with the agreement or any penalties for not drawing the full facility.
On same date, a first tranche draw-down of CAD 100,000 was completed concurrent with the execution of the agreement. The company issued 555,555 units at a price of CAD 0.18 per unit for gross proceeds of CAD 100,000. Each warrant in this tranche is exercisable into one additional common share at a price of CAD 0.336.