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Namib Minerals Signs Indicative US$30 Million Ecobank Term Sheet for Redwing Bankability Programme

GlobeNewswire Inc.·
Namib Minerals Signs Indicative US$30 Million Ecobank Term Sheet for Redwing Bankability Programme

Namib Minerals' subsidiary Bulawayo Mining Company signed a nonbinding term sheet with Ecobank Zimbabwe for a proposed $30 million, 36-month non-dilutive loan facility to fund Redwing Mine's resource-definition and bankability programme. Combined with previously secured $6.5 million from BancABC, the funding is expected to complete Step 3 of the company's development milestones. Ecobank also contemplates acting as lead arranger for future construction phase financing.

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