Namib Minerals
Primary ticker: Private
Stage of development: Exploration, Production
Primary minerals: Gold, Copper, Cobalt, Lithium
Project to promote: How Mine, Redwing Mine, Mazowe Mine – Zimbabwe; Haut Katanga and Lualaba Provinces – DRC
Project location: ZIMBABWE, DEMOCRATIC REPUBLIC OF CONGO
Website: namibminerals.com
Namib Minerals is set to become the next Nasdaq-listed gold miner following its proposed merger with Hennessy Capital Investment Corp. VI (Nasdaq: HCVI), with a pre-money enterprise value of $500 million. The merger, announced in June 2024, will create an established gold producer based in Zimbabwe, and the combined company will operate under the name Namib Minerals (ticker symbol: NAMM). The deal includes a consideration of 50 million Namib shares, with an additional 30 million shares tied to operational milestones. Expected to close in Q1 2025, subject to shareholder approvals, the transaction will mark the largest African de-SPAC deal to date, with Greenstone’s existing shareholders holding approximately 74% of the equity post-closing. The company’s operations include the How mine, which has produced 1.8 million ounces of gold since 1941. Namib Minerals also holds 13 exploration licences in copper and cobalt located in the Lualaba and Katanga regions in the DRC.
Management Profile
Ibrahima Tall – Chief Executive Officer
Ibrahima began his mining career at the Kiniero Gold Mine in Guinea, a JV between Managem and Semafo, where he advanced to the Assistant Managing Director role, a pivotal role in increasing the mine output 25kozpa to 55kozpa.
In 2005, contributing to the development of Semafo’s Samira Hill mine in Niger, correcting stability issues and training technical personnel.
From 2007 to 2018, shifted to the Mana project in Burkina Faso for starting the mining operations and building the mining infrastructure and technical service team serving as the Technical Services Manager. Pivotal role in expanding the company’s operations from 75kozpa
in 2008 to 255kozpa through 3 plant expansion processes, beating production guidance for more than 10 years in a row.
In 2020, Endeavour Mining (TSX:EDV) acquired Semafo for ~US$735M.
Ibrahima has served as Chief Executive Officer since June 2022, and has been in charge of restructuring operations & driving efficiency enhancements.
Tulani Sikwila
Tulani serves as Director and the Chief Financial Officer of Namib Minerals.
He has 20 years of operational, accounting and finance expertise including roles as Chief Financial Officer and Director.
Responsible for the company’s investment management, corporate finance,
tax and compliance functions.
Sphesihle McHunu
Sphe is a qualified attorney of the High Court (South Africa), having previously worked as a at international law firms in South Africa such as Hogan Lovells as an associate. He has nearly 15 years’ experience advising businesses and individuals on a variety of commercial and corporate legal issues. Sphe has strong experience in corporate law with a specific focus on mining.
What recent news would you like to highlight to investors attending?
June 18, 2024
NAMIB MINERALS, AN ESTABLISHED AFRICAN GOLD PRODUCER, TO BECOME PUBLICLY TRADED THROUGH BUSINESS COMBINATION WITH HENNESSY CAPITAL INVESTMENT CORP. VI
December 9, 2024
NAMIB MINERALSSET FOR NASDAQ DEBUT FOLLOWING $500m SPAC DEAL