Namibia Critical Metals Raises CDN$450,000: A Boost for Heavy Rare Earths

Namibia Critical Metals Inc. (TSXV:NMI) (OTCQB:NMREF) has successfully completed a non-brokered private placement, raising CDN$450,000. This injection of capital will primarily fund general corporate purposes, enabling the company to advance its strategic initiatives and strengthen its financial position. The company's most advanced project, the Lofdal Heavy Rare Earth Project, is fully permitted and being developed in a joint venture with Japan Organization for Metals and Energy Security (JOGMEC).

The Lofdal project hosts a globally significant deposit of heavy rare earth metals dysprosium and terbium, which are in high demand for their use in permanent magnets for electric vehicles, wind turbines, and other electronics. The geopolitical risks associated with sourcing these critical metals have become an increasing concern for manufacturers and end users, making the Lofdal project's stable supply a valuable asset.

With a post-tax NPV of USD$391 million and an annual IRR of 28%, the Lofdal project is projected to generate a life of mine nominal cash flow of USD$698 million post-tax over a 16-year mine life. The joint venture with JOGMEC, a Japanese government independent administrative agency seeking to secure stable resource supplies for Japan, further bolsters the project's credibility and ensures a consistent revenue stream for Namibia Critical Metals.

The successful closure of this private placement underscores investors' confidence in Namibia Critical Metals' strategic direction and future prospects. The company's heavy rare earth metals are in high demand, and the Lofdal project's joint venture with JOGMEC enhances its attractiveness to potential future investors and partners. As Namibia Critical Metals advances its Lofdal Project and other strategic initiatives, it is well-positioned to capitalize on emerging opportunities in the global rare earths market.