Namib Minerals reports higher revenue as gold prices boost earnings
- Namib Minerals (NASDAQ:NAMM) reported first-half 2026 revenue of $50.8 million, up 40% year over year.
- Adjusted EBITDA increased 76% to $19 million, while operating cash flow rose 61% to $9.3 million.
- The company reduced full-year production guidance to 26,500–27,000 ounces and expects higher all-in sustaining costs.
Namib Minerals (NASDAQ:NAMM) reported first-half 2026 financial results, with higher gold prices supporting revenue and operating performance despite lower production levels.
Revenue increased 40% to $50.8 million, while adjusted EBITDA rose 76% to $19 million.
Operating cash flow increased 61% to $9.3 million during the period.
The company reported a net loss of $4.8 million, which included $11.3 million in non-cash fair-value losses.
Namib Minerals said the mill expansion at How Mine is substantially complete, with commissioning expected in mid-October.
The expansion is expected to increase processing capacity by approximately 36%.
The company also completed dewatering activities at Redwing ahead of schedule and expects first gold production no later than January 2027.
Namib Minerals lowered its full-year 2026 production guidance to 26,500–27,000 ounces from the previous range of 28,000–31,500 ounces.
Group all-in sustaining cost guidance increased to $2,650–$2,850 per ounce, while C1 cash cost guidance remains at $1,400–$1,650 per ounce.
At the end of June 2026, the company reported cash of $1.8 million and a working capital deficit of $42.9 million. Subsequent financing included a $5 million draw and an agreement to expand another financing facility.
