Namib Minerals Soars 73.48% on Nasdaq Debut

Namib Minerals (NASDAQ:NAMM) has surged 73.48% in pre-market trading on August 1, 2025, marking a significant rise in its stock price.

Namib Minerals, a gold producer, developer, and explorer with operations focused in Zimbabwe, has recently completed its business combination with Hennessy Capital Investment Corp. VI and successfully listed on the Nasdaq Stock Exchange. This milestone provides the company with improved access to capital markets, crucial for financing its ambitious growth strategy.

The company's flagship How Mine in Zimbabwe generated 36.6 koz of gold and approximately US$86 million in revenue in 2024. Namib Minerals' portfolio includes three gold assets with 1.6Moz of measured and indicated reserves at 3.92 g/t Au grade, plus 2.4Moz in inferred resources. The company is planning to expand operations at How Mine and restart operations at Mazowe and Redwing mines. Additionally, Namib Minerals holds 13 exploration permits in the Democratic Republic of Congo for copper and cobalt mining.

Namib Minerals' expansion strategy includes increasing production capacity at How Mine, restarting the idled Mazowe and Redwing operations, and conducting feasibility studies to potentially increase reserves. The company's diversification into copper and cobalt exploration in the DRC represents a strategic pivot toward battery metals essential for electrification. However, investors should note significant jurisdictional risk exposure in Zimbabwe and the DRC, countries with histories of political instability and regulatory uncertainty.